Currency - Central African CFA franc

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Central African CFA franc

Fr
The Central African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XAF) is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries have a combined population of 48.0 million people (as of 2014), and a combined GDP of US$88.2 billion (as of 2012).

CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa"). It is issued by the BEAC (Banque des États de l'Afrique Centrale, "Bank of the Central African States"), located in Yaoundé, Cameroon, for the members of the CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale, "Economic and Monetary Community of Central Africa"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.

In several west African states, the West African CFA franc, which is of equal value to the Central African CFA franc, is in circulation.

The CFA franc was introduced to the French colonies in Equatorial Africa in 1945, replacing the French Equatorial African franc. The Equatorial African colonies and territories using the CFA franc were Chad, French Cameroun, French Congo, Gabon and Ubangi-Shari.

The currency continued in use when these colonies gained their independence. Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA franc in 1984, replacing the Equatorial Guinean ekwele at a rate of 1 franc = 4 bipkwele.

In 1948, coins were issued for use in all the colonies (not including French Cameroun) in denominations of 1 and 2 francs. This was the last issue of a 2-franc coin for nearly 50 years. In 1958, 5-, 10- and 25-franc coins were added, which were also used in French Cameroun. These bore the name Cameroun in addition to États de l'Afrique Equatoriale. In 1961, nickel 50-franc coins were introduced, followed by nickel 100-franc pieces in 1966.

From 1971, the 100-franc coins were issued by the individual states. In 1976, cupro-nickel 500-franc coins were introduced. From 1985, these were also issued by the individual states. That year also saw the introduction of 5-, 25-, 50- and 100-franc coins for use in Equatorial Guinea.

In 1996, centralized production of the 100-franc coin was resumed, with a single 500-franc coin reintroduced in 1998. In 2006, a steel 2-franc coin was introduced.

When the CFA franc was introduced, notes issued by the Caisse Centrale de la France d'Outre-Mer ("Central Cashier of Overseas France") in denominations of 5, 10, 20, 100 and 1000 francs were in circulation. In 1947, a new series of notes was introduced for use in French Equatorial Africa, although the notes did not bear the name of the colonies. Notes were issued in denominations of 5, 10, 20, 50, 100 and 1000 francs, followed by those of 500 francs in 1949, and 5000 francs in 1952. In 1957, the Institut d'Emission de l'Afrique Equatoriale Française et du Cameroun took over paper money production, issuing all of the earlier denominations except for the 5000-franc bill.

In 1961, the Banque Centrale des Etats de l'Afrique Equatoriale et du Cameroun took over banknote production, with notes below 100 francs ceasing to be issued. The name of the bank changed to Banque Centrale des Etats de l'Afrique Equatoriale in 1963. 10,000-franc notes were introduced in 1968, whilst the 100-franc notes were replaced by coins in 1971.

Country

Cameroon

Cameroon (Cameroun), officially the Republic of Cameroon (République du Cameroun), is a country in Central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon and the Republic of the Congo to the south. Cameroon's coastline lies on the Bight of Biafra, part of the Gulf of Guinea and the Atlantic Ocean. Although Cameroon is not an ECOWAS member state, it geographically and historically is in West Africa with the Southern Cameroons which now form her Northwest and Southwest Regions having a strong West African history. The country is sometimes identified as West African and other times as Central African due to its strategic position at the crossroads between West and Central Africa.

French and English are the official languages of Cameroon. The country is often referred to as "Africa in miniature" for its geological and cultural diversity. Natural features include beaches, deserts, mountains, rainforests, and savannas. The highest point at almost 4100 m is Mount Cameroon in the Southwest Region of the country, and the largest cities in population-terms are Douala on the Wouri river, its economic capital and main seaport, Yaoundé, its political capital, and Garoua. The country is well known for its native styles of music, particularly makossa and bikutsi, and for its successful national football team.

Central African Republic

The Central African Republic (CAR; Sango: Ködörösêse tî Bêafrîka; République centrafricaine, or Centrafrique ) is a landlocked country in Central Africa. It is bordered by Chad to the north, Sudan to the northeast, South Sudan to the east, the Democratic Republic of the Congo to the south, the Republic of the Congo to the southwest and Cameroon to the west. The CAR covers a land area of about 620,000 km2 and had an estimated population of around million. Currently, the C.A.R. is the scene of a civil war, ongoing since 2012.

Most of the CAR consists of Sudano-Guinean savannas, but the country also includes a Sahelo-Sudanian zone in the north and an equatorial forest zone in the south. Two thirds of the country is within the Ubangi River basin (which flows into the Congo), while the remaining third lies in the basin of the Chari, which flows into Lake Chad.

Chad

Chad (تشاد, ; Tchad, ), officially the Republic of Chad (جمهورية تشاد ; République du Tchad "Republic of the Chad"), is a landlocked country in north-central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic to the south, Cameroon and Nigeria to the southwest, and Niger to the west. It is the fifth largest country in Africa and the second-largest in Central Africa in terms of area.

Chad has several regions: a desert zone in the north, an arid Sahelian belt in the centre and a more fertile Sudanian Savanna zone in the south. Lake Chad, after which the country is named, is the largest wetland in Chad and the second-largest in Africa. The capital N'Djamena is the largest city. Chad's official languages are Arabic and French. Chad is home to over 200 different ethnic and linguistic groups. The most popular religion of Chad is Islam (at 55%), followed by Christianity (at 40%).

Equatorial Guinea

Equatorial Guinea (Guinea Ecuatorial; Guinée équatoriale; undefined), officially the Republic of Equatorial Guinea (undefined, undefined, undefined), is a country located on the west coast of Central Africa, with an area of 28000 km2. Formerly the colony of Spanish Guinea, its post-independence name evokes its location near both the Equator and the Gulf of Guinea. Equatorial Guinea is the only sovereign African state in which Spanish is the official language. , the country had an estimated population of 1,222,245.

Equatorial Guinea consists of two parts, an insular and a mainland region. The insular region consists of the islands of Bioko (formerly Fernando Pó) in the Gulf of Guinea and Annobón, a small volcanic island which is the only part of the country south of the equator. Bioko Island is the northernmost part of Equatorial Guinea and is the site of the country's capital, Malabo. The Portuguese speaking island nation of São Tomé and Príncipe is located between Bioko and Annobón. The mainland region, Río Muni, is bordered by Cameroon on the north and Gabon on the south and east. It is the location of Bata, Equatorial Guinea's largest city, and Ciudad de la Paz, the country's planned future capital. Rio Muni also includes several small offshore islands, such as Corisco, Elobey Grande, and Elobey Chico. The country is a member of the African Union, Francophonie, OPEC and the CPLP.

Gabon

Gabon, officially the Gabonese Republic (République gabonaise), is a country on the west coast of Central Africa. Located on the equator, Gabon is bordered by Equatorial Guinea to the northwest, Cameroon to the north, the Republic of the Congo on the east and south, and the Gulf of Guinea to the west. It has an area of nearly 270000 sqkm and its population is estimated at million people. Its capital and largest city is Libreville.

Since its independence from France in 1960, the sovereign state of Gabon has had three presidents. In the early 1990s, Gabon introduced a multi-party system and a new democratic constitution that allowed for a more transparent electoral process and reformed many governmental institutions.

Republic of the Congo

The Republic of the Congo ( République du Congo, Repubilika ya Kôngo), also known as Congo-Brazzaville, the Congo Republic or simply the Congo, is a country located in the western coast of Central Africa. It is bordered by five countries: Gabon to its west; Cameroon to its northwest and the Central African Republic to its northeast; the Democratic Republic of the Congo to the southeast and the Angolan exclave of Cabinda to its south; and the Atlantic Ocean to its southwest.

The region was dominated by Bantu-speaking tribes at least 3,000 years ago, who built trade links leading into the Congo River basin. Congo was formerly part of the French colony of Equatorial Africa. The Republic of the Congo was established on the 28th of November 1958 but gained independence from France in 1960. The sovereign state has had multi-party elections since 1992, although a democratically elected government was ousted in the 1997 Republic of the Congo Civil War, and President Denis Sassou Nguesso, who first came to power in 1979, has ruled for 33 of the past 38 years.

Language

Central African CFA franc (English)  Franc CFA (Français)  CFA-Franc BEAC (Deutsch)  Franco CFA da África Central (Português)  Франк КФА BEAC (Русский)  Franco CFA de África Central (Español)  中非金融合作法郎 (中文)  Franc CFA BEAC (Română)  中央アフリカCFAフラン (日本語)  Центральноафриканський франк (Українська)  중앙아프리카 CFA 프랑 (한국어)  Franc CFA Afrika Tengah (Bahasa Indonesia)  Orta Afrika CFA frangı (Türkçe)  Stredoafrický frank (Slovenčina)  Centrālāfrikas CFA franks (Latviešu)  Φράγκο CFA Κεντρικής Αφρικής (Ελληνικά)  Franc CFA Trung Phi (Tiếng Việt) 
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