Mekila Ngwambe's research
Mekila studied the CFA Franc and Neocolonialism in Central and West Africa
Africa's Last Colonial Currency: the CFA Franc and Neocolonialism in Central and West Africa
From decolonisation onwards, the French presence in former African colonies has been based on three pillars: a network of French experts in financial, institutional, and educational structures; French military bases in former colonies; and the CFA Franc economic pillar. The first two pillars have received significant attention. However, the third has relatively escaped the spotlight. This research analyses the third pillar of Franco-African policy, the CFA currency union. It pays attention to the CFA’s operating principles and the forces that have kept it alive in more than eight decades.
The CFA franc currency union is a currency union that defies economic common sense.