Senegal: CFA franc opposed, some calling it ‘legacy of colonialism’

The currency of Senegal has now become a debatable topic ahead of its presidential election at the end of this month.

Senegal currency, i.e, CFA franc was introduced to the French colonies in West Africa in 1945, replacing the French West African franc. According to Aljazeera, some Senegalese are opposed to it emphasizing that it is a legacy of colonialism.

During the period of its introduction, notes issued by the Banque Centrale des États de l'Afrique Occidentale in denominations of 5, 10, 25, 50, 100 and 1000 francs were in circulation. Later in 1946, 500-franc notes were introduced followed by 5,000 francs two years after. The Institut d’Emission de l’A.O.F. et du Togo took over the production of paper money, issuing notes for 50, 100, 500 and 1000 francs in 1955.

In 2004, a new series of notes was introduced in denominations of 1,000, 2,000, 5,000 and 10,000 francs, with the 500-franc note having been replaced by a coin the year before.