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The Central African CFA franc is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries had a combined population of 55.2 million in 2020, and a combined GDP of over US$100 billion.
CFA originally stood for Colonies françaises d'Afrique; following the independence of these states, its name was changed to Communauté financière africaine. The currency is issued by the Bank of Central African States, located in Yaoundé, Cameroon, for the members of the Economic and Monetary Community of Central Africa. The franc is nominally subdivided into 100 centimes but no centime denominations have been issued. The production of CFA franc notes has been carried out at Chamalières by the Bank of France since its creation in 1945.
In several west African states, the West African CFA franc, which is of equal value to the Central African CFA franc, is in circulation. WikipediaUm Vesturafrískur franki
The West African CFA franc is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$128.6 billion as of 2018.
The initialism CFA stands for Communauté Financière Africaine. The currency is issued by the Central Bank of West African States, located in Dakar, Senegal, for the members of the UEMOA. The franc is nominally subdivided into 100 centimes but no coins or banknotes denominated in centimes have ever been issued. The production of CFA franc notes has been carried out at Chamalières by the Bank of France since its creation in 1945.
The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both commonly referred to as the CFA franc.
In December 2019 it was announced that the West African CFA franc would be reformed, which will include renaming it the eco and reducing France's role in the currency. Wikipedia