Franc Zone

The CFA (Communauté Financière Africaine) franc zone comprises 14 African countries and the Comoros Islands in the Indian Ocean. Eight of them make up the West African Economic and Monetary Union (WAEMU): Benin, Burkina-Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. Six others make up the Central African Economic and Monetary Community (CAEMC): Cameroon, Central African Republic, Chad, Congo, Gabon and Equatorial Guinea. WAEMU and CAEMC each have their own central bank and notes and coins. The CFA franc is pegged at 655.957 CFA francs per euro as of 2009.