Where is the CFA franc made?

The CFA franc refers to three currencies resulting from monetary cooperation agreements between France and three African currency zones: the Economic and Monetary Community of Central Africa, the West African Economic and Monetary Union and the Union of the Comoros.

At present, almost all African countries entrust the production of their own currency to third parties. Western companies. Is this also the case for the CFA franc? We'll give you the answer in this article. Find out which countries use the CFA franc. African Financial Community.

Where is the CFA franc made?

This is the Banque de France in Chamalières which prints CFA francs. A bank based in the country where 5G is developing rapidly, facilitating cooperation between different financial institutions.

African central banks give orders to print the CFA franc to the Banque de France through a contract with an operator. The heads of state of countries belonging to the "franc zone" can decide to change the place of production by mutual agreement. Each country is free to leave the "franc zone", either temporarily or permanently.

Please note that the participation of member states is governed by specific bilateral agreements. Since 1962, this has been based on cooperation agreements with regional monetary unions.

The reason for outsourcing coin production is often the absence of dedicated printing facilities in a country. This is often the case, if only to mention the following:

• The manufacture of Ethiopian birr, Guinean franc, Botswana pula and Ugandan shilling in England;
• The printing of the Liberian dollar in the United States;
• The manufacture of the Tanzanian shilling, the Eritrean nakfa, the Zambian kwacha, or even the Mauritanian ouguiya in Germany.

Several countries have already definitively left the “franc zone” such as Mauritania, Madagascar and Guinea.

Which countries use the CFA franc?

The CFA franc was created in the late 1930s, on the eve of the Second World War. It is used by 14 African countries in the "franc zone". This currency is issued by the Central Bank of West African States (BCEAO)).

The African Financial Community franc is made up of 3 zones each with its own central bank and currency:

• Zone 1 - UMOA: this is the West African Monetary Union zone, comprising Burkina Faso, Benin, Guinea-Bissau, Senegal, Mali, Côte d'Ivoire, Togo and Niger. The currency used is the XOF, the West African CFA franc.
• Zone 2 - UMAC: this is the Central African Monetary Union zone, comprising Congo, Central African Republic, Cameroon, Chad, Equatorial Guinea and Gabon. These member states use the XAF, which is the Central African CFA franc.
• Zone 3 - Union of the Comoros: where the KMF or Comorian franc is used.

Monetary and financial stability is the primary benefit of the Franc zone for its member countries. This preserves the purchasing power of the population.

Have you ever thought of taking a cruise to Africa? Once on dry land, take the time to buy gift items using the CFA franc, the currency printed in France and used in African countries.