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Central Bank of West African States

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Established
  
1959

Founded
  
12 May 1962

Website
  
www.bceao.int

Headquarters
  
Dakar

Central Bank of West African States medafricatimescomwpcontentuploads201412bcea

President
  
Governor Kone Tiemoko Meyliet

Central bank of
  
West African Economic and Monetary Union

Currency
  
West African CFA francXOF (ISO 4217)

The Central Bank of West African States (French: Banque Centrale des États de l'Afrique de l'Ouest, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union (UEMOA):

  • Benin
  • Burkina Faso
  • Guinea-Bissau
  • Ivory Coast (Côte d'Ivoire)
  • Mali
  • Niger
  • Senegal
  • Togo

    • The Bank is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.

    History

    Its predecessor, the Institut d’Emission de l’Afrique Occidentale Française et du Togo, was created in 1955 and was transformed into BCEAO in 1959. The treaty establishing the West African Monetary Union (UMOA), signed on May 12, 1962, gave BCEAO the exclusive right to issue the currency as the common central bank for the then seven member countries:

  • Côte d’Ivoire
  • Dahomey
  • Haute-Volta
  • Mali
  • Mauritania
  • Niger
  • Senegal

    • References

    Central Bank of West African States Wikipedia
    (Text) CC BY-SA


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