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To Our Dedicated Readers…
Experts Divulged: African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
The East Africa Device Assembly Kenya (EADAK): Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
….as it strives to Exploit its Supplies of Fossil Fuels: £19 Billion Gas Pipeline would pass…13 Countries
In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan
African Leaders: Lift-off African School of Governance…
Zimbabwe: In Alacrity to Participate in the Forthcoming Minerals Africa Summit in Cape Town South Africa
Rwanda: MPs in the Lower House started Nationwide Assessment on progress of the Agricultural Outreach season
$2.8 Million has been Vitally signed: By Grid Africa as an Equity Investment from Rifuwo Energy Partners
The Elected African Table Tennis Federation Executive Council: Agreed on a Memorandum of Understanding with Ethiopian Airlines

Economic and Monetary Community of Central Africa (CEMAC): Agreed on to quit in using the Franc CFA (FCFA)

Posted On 25 Mar 2023
By : NADN
Comment: 0

By Abdul Rahman Bangura–

NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- …hoped to declare openly some moolah modifications, rather bent on for a full modification of the inscription.

CEMAC similarly crave for a finished closure of the operating account (compte d’opération) at the Banque de France in a bid to enable the body to hold all of its foreign exchange reserves as restrained to the 50% it presently holds, and the solitude of French proxies from the decision-making and regulate bodies of the BEAC (regional Central Bank).

CEMAC is now contemplating enlisting West Africa, which is in the procedure of creating a regional currency dubbed the ECO. Experts nevertheless deem the process delicate but judging by the recent Euro/Dollar crisis, that drastically affected the FCFA, they consider the action vital.

Heads of State have proposed that the outcomes of the numerous deliberations by the BEAC should be conveyed with Ministers of Economy and finance of the member states according to sources. The Central African Republic had earlier adopted Bitcoin as Currency as legal tender.

 

For New Africa Daily News Abdul Rahman Bangura Reports,  Africa Correspondent

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  • To Our Dedicated Readers…
  • Experts Divulged: African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
  • The East Africa Device Assembly Kenya (EADAK): Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
  • ….as it strives to Exploit its Supplies of Fossil Fuels: £19 Billion Gas Pipeline would pass…13 Countries
  • In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan

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