After many debates  that have fueled the subject of the CFA Franc, it is the turn of the  Mouvement des Entreprises du Sénégal (MEDES)  to take an interest in the issue. Meeting on Thursday 12 September, on the sidelines of their 19th annual session,  MEDES members gave pride of place to the future of the common currency to the 8 WAEMU African countries.

Thus, the actors bringing together experts, bankers, technicians, operators and business leaders spoke on the theme of the day, "the future of our common currency: the CFA franc!"

In a context of globalization marked by the implementation  of the African Continental Free Trade Area (AfCFTA), the panelists did not fail to evoke the future single currency of the Economic Community of West African States (ECOWAS), "the Eco".

The main objective of this initiative was to conduct  a framework for reflection in order to find possible solutions for a currency that could play its "real" role in the economy  of African countries.

While  some authorities have praised the advantages of the CFA Franc (sustained growth, on average above 6%, inflation control, etc.), other specialists maintain that it no longer has a future.

Economics professor Chérif Salif Sy is categorical: the CFA Franc has no future and continues to hinder the development  of the member countries of the West African Economic and Monetary Union (WAEMU)  and the Central African Economic and Monetary Community (CEMAC).

"I can't say anything more or less about what our heads of state  said in 1983. The presidents had decreed that the CFA franc had no future and that it was necessary to build the ECOWAS franc," he recalled.

On this, the economist  said that the reflections are important and will serve in the implementation of the "Eco" currency.

Speaking  on this issue  of the ECOWAS single currency, Senegalese Minister of Economy and Planning Amadou Hott argued that it has become an imperative to accelerate  this process. Because, he stresses,  "it will  allow  our companies  to prosper in this area that will have a single, stable currency with a much more integrated and competitive market".

Far from sharing the ministerial enthusiasm, the doctor of economics, Souleymane Keita, tempers: "before venturing  to a single currency, we first need prerequisites to  strengthen  ecowas' intra-community  trade,  which remains very weak".

And the academic adds: "if we have a  single  currency while trade does not grow, it will be useless".

As a reminder, the ECOWAS countries reaffirmed their sovereign will to set up a single currency, "Eco" by 2020 at the latest. If the 8 WAEMU countries are almost ready to take the plunge, thanks to proven macroeconomic discipline, the other 7 countries of the zone, including Nigeria and Ghana are facing deficits, especially budgetary, abysmal, soaring inflation and weak governance of the financial system.