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About West African CFA franc
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. WikipediaAbout Ghanaian Cedi
The cedi is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One Cedi is divided into one hundred Pesewas.
After independence, Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. The new republic's first independent currency was the Ghanaian pound. In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. The African name Cedi was introduced in place of the old British pound system. Ghana's first President Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The Cedi bore the portrait of the President and was equivalent to eight shillings and four pence, i.e. one hundred old pence, so that 1 pesewa was equal to one penny.
After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. The "new Cedi" was worth 1.2 Cedis, which made it equal to half of a pound sterling at its introduction. Wikipedia