In an unprecedented step towards enhancing economic sovereignty, the Sahel African countries – Mali, Burkina Faso, and Niger – have announced a bold decision regarding their local currency. According to the announcement, these countries will begin printing their currency within a fellow African country starting from September, marking a significant shift from the previous practice where the currency was printed in France.
The three countries confirmed that they will sever their ties with the French franc starting from the same date, signaling the end of an era of monetary dependence that has lasted for decades since independence.
This decision comes in the context of growing trends across the African continent towards achieving greater economic and political autonomy. The move is expected to have profound impacts on the local economies of these countries and on their relations with France and the European Union.
Although the announcement did not specify which African country will take charge of printing the new currency, this decision is considered an important step towards strengthening African-African cooperation in the economic field.
This development is likely to generate significant interest on the international stage, especially in light of the ongoing geopolitical shifts in the Sahel region. It may also encourage other African countries to take similar steps in the future.
While the exact details of the new currency and its circulation mechanisms have not yet been disclosed, this announcement represents the beginning of a new phase in the history of these African countries, characterized by greater economic independence and monetary sovereignty.