BUSINESS
SENEGAL: Anti-CFA Front-line activists are chanting.
Demonstrators gather in several West African capitals to ask their countries to abandon the CFA franc in favor of a common African currency. The passions on the subject have been relaunched since Senegal stopped and expelled an activist for having burned a CFA invoice at a rally, which makes cancaner more than one Senegalese.
The NGO Pan-African Emergencies called for the protest. Senegal recently expelled the founder of the movement, the Franco-Beninese activist Kemi Seba, having burned a sight of 5,000 CFA at a gathering in Dakar last August.
France created the CFA in the 1940s for its African colonies. The CFA is linked to the euro and guaranteed by national monetary reserves deposited with the French Treasury. Senegal is one of the 14 countries of the two monetary unions in West and Central Africa that still use the CFA.
At the lively market of Dakar, Marche Tiléne, many traders are interested in the debate, although the arguments remain more emotional than economic. “It is not an African currency, so we consider it a Nazi currency imposed on us by the colonizer,” said trader Diodio Ndiaye. The owner of the shop, Tyma Style, also favors a new currency. “I would like Senegal to have its own currency,” she said. “In the same way as we were talking about the French franc, I would like us to talk about the Senegalese franc”. M. Diouf, the chief of Marche zinc, consents. “We are African. We need to organize and mobilize for a common currency, “Diouf said.
The defenders of the CFA franc say they have prevented inflation and instability. They indicate the experiences of neighbors such as Guinea Conakry and Nigeria as warning stories to do it alone. But critics claim that the currency is too strong and stifles economic growth. Regional trade has developed outside the euro area to partners such as China and the United States. “When you have a currency set to a strong currency like the euro, it’s easy to import. But when you want to export, your products can not compete with other foreign countries, “said Ndongo Samab Sylla, an economist at the Rosa Luxemburg Foundation.
Countries using the CFA are free to abandon it, but none of the 14 governments have announced such an intention. And for the spectators of this latest anti-CFA event, this may be for the better. “I do not blame them. Everyone has their own way of thinking. But we will not be anywhere if Senegal creates its own currency and leaves the CFA, “said Ahmadou Bamba Badiane, watching the protest.
For the time being, the debate is continuing. But over the past year, the presidents of Senegal and Côte d’Ivoire have publicly reaffirmed their support for the CFA, which makes it unlikely that it will soon disappear.
The presidency of Togo has announced that the project to exploit the manganese mine of Nayega, located in the Savanes region in the north of the country, is entering its operational phase. According to a statement issued on June 10, 2025, production is scheduled to start at the end of June 2025, with an initial volume of 4,000 tons per month, which should gradually double to reach 8,000 tons per month.
Keras Resources is the technical partner retained by the Togolese government to carry out this project. A statement from Keras, relayed by the presidency, details that the company signed a cooperation agreement in 2023 with the Togolese state, owner of the mine through the Togolese Manganese Company (STM). Under the terms of this agreement, Keras will receive a remuneration of 1.5% of the mine’s gross revenue for three years for its advisory services, as well as 6% for brokering services.
The reserves of the Nayega mine are estimated at 8.5 million tonnes, which would allow exploitation over a period of 11 years. The authorities of Lomé welcome the expected contribution of the mine to the national budget, a benefit that should be strengthened by the rigorous management of the generated revenues, as indicated by our colleagues from Agence Afrique.
With a growing global demand for manganese, particularly in steel alloys and renewable energy technologies, Togo is seeking to assert itself as an essential supplier of this strategic ore. This positioning could play a catalytic role for the national economy, always according to information from the Africa Agency.
Source: senego / Photo credit: Republicoftogo.com
The Gabonese government decided on Friday to ban the import of broilers in order to promote national poultry production and ensure food security, according to the final communiqué of the council of ministers chaired by the head of state, Brice Clotaire Oligui Nguema.
The ban will be effective from 1 January 2027, thus leaving a period of 18 months (1 year and 6 months) for actors in the sector to structure themselves, invest and prepare to meet national demand.
“This measure aims to restore domestic poultry production, boost agricultural investment, reduce food dependency and strengthen the trade balance,” the government hopes. Gabon also hopes to foster “the emergence of a network of rural jobs, the rise in quality of products consumed locally and the creation of an economic ecosystem around this sector”.
The government has also planned a detailed operational plan to be presented within 45 days by the ministers responsible for economy and trade.
Libreville dreams of reducing its dependence on poultry imports and strengthening the country’s food security. In addition, the promotion of local poultry farming should have a positive impact on rural areas, generating jobs and contributing to the development of a vibrant poultry ecosystem.
Imported frozen chicken is the most consumed food in Gabon because of its low price and packaging ready to be thrown into a pot.
“The star of the freezer” is how Gabonese people refer to frozen chicken because it is often the only food, if not the default food, found in the freezers of Gabonese families.
Frozen chicken and meat are generally imported from Latin America and Europe. Their massive presence on the market has destroyed local production.
The Council of Ministers also announced a ban on exporting crude manganese from 1 January 2029. The objective is to promote local industrial development, create jobs and maximize the value of this resource, of which Gabon is the world’s second largest producer.
Sources: gabonactu.com
Mauritania is in the spotlight. On Thursday, May 29, 2025, Sidi Ould Tah was elected president of the African Development Bank (AfDB), at the annual meeting of the institution held in Abidjan. He succeeds Akinwumi Adesina of Nigeria, in office since 2015.
His election came after a hard-fought duel against Samuel Munzele Maimbo of Zambia, who finished in second place. The election, which was marked by major geopolitical and economic issues, took place against a background of high expectations regarding governance and development financing on the continent.
The Senegalese Amadou Hott, long perceived as one of the favorites, finishes in third place, followed by the South African Bajabulile Swazi Tshabalala. Despite significant diplomatic support, notably for Hott, the momentum in favour of Sidi Ould Tah has prevailed in the last few rounds.
Former minister and general manager of the Arab Bank for Economic Development in Africa (BADEA), Sidi Ould Tah is recognized for his experience and strategic vision. He will officially take office on 1 September 2025.
Photo credit: Forbes Africa
