Mastercard Foundation Scholars Program

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. 

A cartoon of two ships. On the left carries the Eiffel Tower with the French flag, the one on the right carries the Ivorian flag

The CFA franc currency union is a currency union that defies economic common sense. 

Mekila Ngwambe

Africa and International Development

  • Cameroon
  • Postgraduate Scholar

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