Central African CFA franc facts for kids

Quick facts for kids Central African CFA franc
Franc CFA de l'Afrique centrale (French) فرنك م ف أ وسط أفريقيا (Arabic) Franco CFA de África Central (Spanish)
1000 Central African CFA francs, since December 2022. Currency coins of the Central African CFA franc.
ISO 4217 Code	XAF
User(s)	Cameroon  Central African Republic  Chad  Equatorial Guinea  Gabon  Republic of the Congo
Pegged with	€1 = F.CFA 655.957
Subunit
1⁄100	centime theoretical (unused)
Symbol	F.CFA
centime	c
Nickname	céfa, franc
Coins	1, 2, 5, 10, 25, 50, 100, 500 francs
Banknotes	500, 1,000, 2,000, 5,000, 10,000 francs

This map shows where the Central African CFA franc is used. The red color highlights the countries using this currency.

The Central African CFA franc (called franc CFA or just franc in French) is the money used in six countries in Central Africa. These countries are Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. In 2020, about 55.2 million people lived in these countries. Their total economy was worth over US$100 billion in 2021.

The letters CFA first stood for "French colonies of Africa." After these countries became independent, the name changed to "African Financial Community." The Bank of Central African States (BEAC) prints this money. Its main office is in Yaoundé, Cameroon. This bank serves the countries of the Economic and Monetary Community of Central Africa (CEMAC). The franc is technically divided into 100 centimes, but no centime coins have ever been made. The Bank of France has been printing CFA franc banknotes since 1945.

Another currency, the West African CFA franc, is used in some West African countries. It has the same value as the Central African CFA franc.

History of the CFA Franc

The CFA franc was first used in French colonies in Equatorial Africa in 1945. It replaced the older French Equatorial African franc. The countries that started using it were Chad, French Cameroun, French Congo, Gabon, and Ubangi-Shari.

The currency continued to be used even after these colonies became independent. Equatorial Guinea, which used to be a Spanish colony, joined in 1984. They switched from their old money, the Equatorial Guinean ekwele, to the CFA franc. One CFA franc was equal to four of their old bipkwele coins.

The CFA franc was linked to the French franc (F) from 1948. One CFA franc was worth two French francs. Later, when France introduced a "new franc," one CFA franc became worth 0.02 new francs. In 1994, the value of the CFA franc was cut in half. Since 1999, it has been linked to the euro. One euro is worth 655.957 CFA francs.

In April 2023, leaders from the CEMAC countries and France met. They talked about the CFA franc. France sees its support for the CFA franc as a way to keep the region's economy stable. France said it is open to changing how money cooperation works in Central Africa. This is similar to changes made in West Africa. France is ready to hear ideas from CEMAC.

CFA Franc Coins

In 1948, the first coins were made for all the colonies, except French Cameroun. These were 1 and 2 franc coins. It took almost 50 years for another 2 franc coin to be made. In 1958, 5, 10, and 25 franc coins were added. These were also used in French Cameroun. These coins had the name Cameroun along with États de l'Afrique Equatoriale. In 1961, 50 franc coins made of nickel were introduced. Nickel 100 franc coins followed in 1966.

From 1971, 100 franc coins were made for each country. They showed the name of the country where they were issued. Between 1976 and 1996, 50 franc coins were also made this way. Instead of the country name, they had a letter on the back.

• "A" was for Chad.
• "B" was for Central African Republic.
• "C" was for Congo.
• "D" was for Gabon.
• "E" was for Cameroon.

In 1976, 500 franc coins made of copper-nickel were introduced. From 1985, these were also made for individual states. That year, Equatorial Guinea joined the currency union. New 5, 25, 50, and 100 franc coins were made for them. These coins had Spanish words instead of French, like "franco" instead of "franc." Even with these differences, all coins could be used in any member country.

In 1996, the 100 franc coin started to be made for all countries again. A single 500 franc coin was brought back in 1998. The designs stayed mostly the same, but they no longer showed country names or letters.

In 2006, all CFA franc coins were redesigned. A new 2 franc coin was also introduced. The 1, 5, 10, and 25 franc coins became smaller. A new 100 franc coin was made with two different metals. The 500 franc coin was also new and smaller, with better security features. All the newer coins show the letters "CEMAC." Older coins can still be used alongside the new ones.

All CFA coins have a mint mark and an engraver's mark. The mint mark is on the left side of the coin's value on the back. The engraver's mark is on the right.

CFA Franc Banknotes

When the CFA franc first came out, notes were issued by the Caisse Centrale de la France d'Outre-Mer. These notes came in values of 5, 10, 20, 100, and 1,000 francs. In 1947, new notes were made for French Equatorial Africa. These notes did not show the names of the colonies. They were in values of 5, 10, 20, 50, 100, and 1,000 francs. Later, 500 franc notes were added in 1949, and 5,000 franc notes in 1952. In 1957, a new group, the Institut d'Émission de l'Afrique Équatoriale Française et du Cameroun, started printing the paper money. They printed all the old values except the 500 franc note.

In 1961, the Banque Centrale des États de l'Afrique Équatoriale et du Cameroun took over printing banknotes. They stopped printing notes smaller than 100 francs. The bank's name changed in 1963 to Banque Centrale des États de l'Afrique Équatoriale. In 1968, 10,000 franc notes were introduced. The 10 franc notes were replaced by coins in 1971.

In 1975, the bank's name changed again to the Banque des États de l'Afrique Centrale. Each country then started issuing notes with its own name on them. These were in values of 500, 1,000, 5,000, and 10,000 francs. This practice stopped in 1993. Since then, banknotes have a letter to show which country they are for. In 1993, 2,000 franc notes were also introduced.

Country Codes for Banknotes

Here are the country letter codes for the different series of banknotes:

1993 Series

• C –  Republic of the Congo
• E –  Cameroon
• F –  Central African Republic
• L –  Gabon
• N –  Equatorial Guinea
• P –  Chad

2002 Series

• A –  Gabon
• C –  Chad
• F –  Equatorial Guinea
• M –  Central African Republic
• T –  Republic of the Congo
• U –  Cameroon

See Also

• African Central Bank
• Economic Community of West African States
• French Equatorial African franc
• West African CFA franc

Images for kids

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  1000 Central African CFA francs, since December 2022.

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  Currency coins of the Central African CFA franc.