Central African
The Central Africa CFA franc (XAF) is known in French as the Franc CFA, where CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa"). It is issued by the BEAC (Banque des États de l'Afrique Centrale, i.e. "Bank of the Central African States"), located in Yaoundé, Cameroon, for the 6 countries of the CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale, i.e. "Economic and Monetary Community of Central Africa"):
- Cameroon
- Central African Republic
- Chad
- Republic of the Congo
- Equatorial Guinea
- Gabon
In 1975, Central African CFA banknotes were issued with an obverse unique to each participating country, and common reverse, in a fashion similar to euro coins.
Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA in 1984.
Read more about this topic: CFA Franc, Institutions
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