CFA Franc is the denomination of the common currency of 14 African countries members of the franc zone. They are the following states :
For CFA Franc of west zone (eight countries) :Benin . Burkina-Faso. Ivory Coast. Guinea Bissau. Mali. Niger. Senegal. Togo. which constitute the Economic and Monetary Union of West Africa (UEMOA) of which issuing institute is the Central Bank of West African States ( BCEAO )
For CFA Franc of central zone (six countries) : Cameroon. Central african republic. Congo. Gabon. Equatorial Guinea. Chad. which constitute the Economic and Monetary Union of Central African States (CEMAC) of which issuing institute is the Bank of Central African States (BEAC).
CFA Franc was created on DECEMBER 26th 1945, ( agreements of Bretton Woods ) CFA Franc mean "franc of French African Colonies "
In 1958, it become " franc of French African Community " .
Today, CFA Franc mean " franc of African Financial Community " for the member's countries of UEMOA, and "franc of Financial Cooperation in Central Africa" for the member's countries of CEMAC.