By my reckoning, the rebranding of Central African Franc (CFA), which was the relic of the colonial French rule in Western African states. During the last few 48 hours, there is news of a new currency, which has implications, but also imperfections.
The ones praising this move is naive. The reason is simple, Emmanuel Macron or the French is still not giving way to power nor influence. They are still having their hand in the cookie jar. They are still involved with the inner-works of the financial sphere of the former colonies. They are maybe stopping the control directly from the National Bank of the French.
This move is to ease the pain of the past, but still the French and the European Union will have their stakes in it. As the pegged currency will be accordingly traded towards the Euro. A Euro, which the French has influence over in the EU. Therefore, the former colonies and the ones accepting this “ECO” Currency are accepting control from Paris and Brussels still.
They are maybe done with the regulations of CFA and the banking system as known today. But the ECO will be measured after the Euro. This is all a condition, that still benefits the former colonizer. If it wouldn’t, he wouldn’t have accepted it. Not like the French wants to loose influence nor the ability to easy trade with former colonizes. Why do you think most of the cars in Tunisia is French and not a random Skoda?
With that in mind, the ECOWAS was not launching this, but Macron was. Therefore, the whole thing seems like ploy to leave one relic behind, hoping people would be so happy that they don’t look into the mechanisms of the new currency. Not like the French would ever drop influence nor their strong hand over Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal & Togo. All of these will still be semi-controlled by Paris.
I have a hard time believing the intent of the French is to give way. No, this is just a shift to extend their power and find new measures to secure it. By remaking the former currency and the monetary union these nations have. Not like they are suddenly creating their own or having 8 separate ones. If they did that, then it might been significant. Where the own national banks, together with Ministry of Finance would make and ensure the safety of own national currency accordingly and necessary for their own Republic.
To remake and rename, only questions the motives behind the move. Other, than trying to clean the dirt of your hands and call it good days work. After years of questioning the currency and the stranglehold of these Republics. By having appointed men in their National Banks and having their gold in Paris.
I lack faith, but I am also very cynical about it. I’m not easily buying into it. I am hopefully wrong. Until the measures, until the mechanisms are all out and the proof of a vital change. It just seems like a small ploy to trigger hope for a difference, when its really just a new name and the same landlord over it. Its still the same farm and the same output, but the master just renamed the land differently. Peace.
Arikana Chihombori Quao, the African Union Ambassador to the United States, which was terminated on the 7th October 2019 after her open criticism of the Western Powers hold of the African Nation.
She’s been vocal and righteously so against the French hold of the former African colonies it has agreements with, military, monetary and direct trade enriching itself on the spoils of the African continent. Which is all true, that is why all the big-men from the previous colonies are favourable and steady visiting Paris and meeting the heads of state there. That is why, the interests of Paris comes before the needs of the citizens of the respective Republics. They are all Francafrique doing.
That is why Emmanuel Macron has no issues boosting dictators, standing by autocrats who secure the monetary gains of the Central African Francs (CFA). This is boosting the Reserves of France, they are earning on the printing and monetizing the currencies of these Republics. They are all in the hands of the French, controlling and monitoring the monetary policies and the economic policies made in the respective republics. This is how to keep the governments, either by the hook or by the crook.
Secondly, they are also kept by a military pact and a resource sharing agreements, which means the extraction industry of the French gets first deals, if it is Total or anything else. Will get a first rights to extract or be able to trade commodities. That is why you see in former North African Republic, which was colonizes you see Renaults, Citroen’s and so-on. You are not seeing so many American or British cars there, but French produced cars in abundant. That is because, the French still has a foothold and advantages, which the Republic have to abide too.
Therefore, what the axed and sacked AU Ambassador to US said about the French is true. It maybe hurt the pride of the French. But you don’t need to say anything substantial to hurt their pride. You can just dismiss their champagne and they will cry havoc. In addition, the French know they need Francafrique and they would miss out important market, funds and resources, which it cannot live without. The banks, the industries and military would suffer a hit. The French will not say this, but the reason for axing shows this.
The French is weak, the French isn’t as great or has the power to flex without its state under passive control through the measures of the CFA and other Post-Colonial agreements made with Big-Men in the Francafrique. That is just the way it is and because someone with a title said it. It had to be silenced.
However, if the French didn’t want it undressed or questioned their role on the continent. They should have maybe answered it with words or numbers. Instead, they are verifying her words by axing her and pushing the Chairman of AU to get rid of her. Peace.
The Secretary-General welcomes the start of an inclusive dialogue among political leaders, civil society and religious communities of Guinea-Bissau today in Guinea. The dialogue is the crucial first step in implementing the Economic Community of West African States (ECOWAS) roadmap to end the political crisis, which political leaders agreed to in Bissau on 10 September 2016.
The Secretary-General thanks the ECOWAS Mediator for Guinea-Bissau, H.E. Mr. Alpha Condé, President of the Republic of Guinea, for hosting the parties and leading the regional effort to swiftly implement the roadmap. He further encourages all parties to engage in constructive discussions and seize this opportunity for a favourable outcome in the interest of the people of Guinea-Bissau. He calls on all parties to jointly achieve decisive progress within the coming days, in order to break the political impasse that has prevailed in the country since August 2015.
The Secretary-General has requested his Special Representative in Guinea-Bissau and Head of the United Nations Integrated Peacebuilding Office in Guinea-Bissau (UNIOGBIS), Mr. Modibo I. Touré, to continue to work closely with all stakeholders in Guinea-Bissau. This he will do in close collaboration with ECOWAS, the African Union and other key partners, including the Community of Portuguese-speaking Countries and the European Union as they work towards political stability in Guinea-Bissau.
Le Secrétaire général salue le début d’un dialogue inclusif entre les chefs politiques, la société civile et les communautés religieuses bissau-guinéens aujourd’hui en Guinée. Ce dialogue est une première étape décisive dans la mise en œuvre de la feuille de route de la Communauté économique des Etats de l’Afrique de l’Ouest (CEDEAO) pour mettre fin à la crise politique, qui a été adoptée par les dirigeants politiques à Bissau le 10 septembre 2016.
Le Secrétaire général remercie le médiateur de la CEDEAO pour la Guinée-Bissau, S.E. M. Alpha Condé, Président de la République de Guinée, d’accueillir les parties et de mener l’effort régional pour mettre en œuvre la feuille de route rapidement. Il encourage toutes les parties à s’engager dans des discussions constructives pour accomplir ensemble des progrès décisifs dans les prochains jours, afin de mettre fin à l’impasse politique qui prévaut dans le pays depuis août 2015.
Le Secrétaire général a demandé à son Représentant spécial et Chef du Bureau intégré des Nations Unies pour la consolidation de la paix en Guinée-Bissau (UNIOGBIS), M. Modibo I. Touré, de continuer à coopérer étroitement avec toutes les parties prenantes en Guinée-Bissau. Il le fera en collaboration étroite avec la CEDEAO, l’Union africaine, et les partenaires clés, y compris la Communauté des pays de langue portugaise et l’Union européenne, dans leurs efforts en faveur de la stabilité politique en Guinée-Bissau.
London, UK and Johannesburg, South Africa – WorldRemit and MTN Group today announced that WorldRemit customers can now send money instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia.
The launch follows the signing of a global partnership agreement earlier this year, to enable WorldRemit customers all over the world to send international remittances to MTN’s Mobile Money customers.
“This partnership makes sense for both companies, as WorldRemit and MTN share a disruptive approach to innovation and bring impactful services to our customers. Together, we are now providing an instant, fully digital and very affordable solution to send international remittance to Rwanda, Uganda and Zambia. Other countries will follow soon,” says Serigne Dioum, MTN Group Head of Mobile Financial Services.
“At WorldRemit, we are pioneering international mobile-to-mobile remittances. Our partnership with MTN allows our customers around the world to send money instantly from the WorldRemit app to MTN Mobile Money users in Rwanda, Uganda and Zambia. Together with MTN, we make sending money home as easy as sending an instant message,” says Alix Murphy, Senior Mobile Analyst at WorldRemit.
She continues: “For diaspora members sending money to friends and family back home in these countries, Mobile Money is a real game-changer. In Uganda, Mobile Money has already overtaken cash pick-up and bank deposits as the preferred method to receive money. We expect this trend to continue as MTN’s Mobile Money services reach millions of people without bank accounts, giving them access to a variety of life-enhancing financial services including savings and insurance schemes.”
People in more than 52 countries already use the WorldRemit app to send around 400,000 money transfers every month to over 125 destinations. WorldRemit is the leading sender of remittances to Mobile Money wallets connecting to over 25 different services worldwide.
MTN Mobile Money enables users to perform utility payments, save money, purchase airtime and access a range of mobile financial products. To date, MTN Mobile Money is used by customers in 15 countries across Africa, i.e. Benin, Botswana, Cameroon, Congo, Ghana, Guinea Bissau, Guinea Republic, Ivory Coast, Liberia, Nigeria, Rwanda, South Africa, Swaziland, Uganda and Zambia.
In keeping with its aim to accelerate the rollout of international remittance, MTN launched a cross-border mobile money transfer service between Uganda and Rwanda in August. The service allows customers in both countries to transact via MTN Mobile Money with the same simplicity as for a local money transfer. MTN also offers a mobile money cross-border remittance service between Ivory Coast, Benin, Burkina Faso and Niger. The remittance corridor between Kenya and Rwanda is the latest addition to MTN’s Mobile Money bouquet of services. It forms part of a major initiative between MTN and Vodafone, to enhance financial inclusivity in East Africa.
In the six months to 30 June 2015, MTN grew mobile money subscribers by 45,8% to 32,4 million.
*NB: All figures are unaudited
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 30 June 2015, MTN recorded 231 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at, www.mtnbusiness.com and www.mtn.com
The following Security Council press statement was issued today by Council President Vitaly I. Churkin (Russian Federation):
The members of the Security Council took note of the appointment on 17 September, of Mr. Carlos Correia, first Vice-President of the African Party for the Independence of Guinea and Cape Verde, the majority political party in the National Assembly, as Prime Minister of Guinea-Bissau. The members of the Security Council emphasized this as an important step towards bringing an end to the political crisis that has prevailed in the country since mid-August. The members of the Security Council stressed the importance of the appointment of a new Government as soon as possible, and in full respect with constitutional procedures.
The members of the Security Council commended the respect for the Constitution and the rule of law demonstrated by the Bissau-Guinean actors, including the non-interference of the security forces in the political situation in the country and the restraint shown in this regard. The members of the Security Council further commended the peaceful way Guinea-Bissau’s population is following the political situation in the country.
The members of the Security Council again recalled resolution 2203 (2015) and stressed the importance of national reconciliation, inclusive dialogue and good governance. In this regard, they urged the Bissau-Guinean actors to uphold and proceed with continuous and constructive dialogue, within the established constitutional parameters and with respect for the separation of powers, in order to strengthen democratic governance and work towards consensus on key political issues, particularly with regards to the implementation of the necessary urgent reforms.
The members of the Security Council recalled the Council’s commitment to support the authorities of Guinea-Bissau and noted that the pledges made at the March Brussels International Donor Conference required a stable political environment in order to most effectively materialize. The members of the Security Council further noted that courageous and inclusive political steps should be taken to help realize these pledged commitments, in the best interests of all Bissau-Guineans.
The members of the Security Council commended the coordinated approach and common messaging from regional and international actors, including the Economic Community of West African States (ECOWAS), the African Union, the United Nations, the Community of Portuguese-Speaking Countries and the European Union throughout this period. They further highlighted the efforts of Presidents Macky Sall of Senegal, Alpha Condé of the Republic of Guinea, and Olusegun Obasanjo, Special Envoy of President Muhammadu Buhari of Nigeria, to facilitate dialogue in Guinea-Bissau.
The members of the Security Council also welcomed the decision taken by the Extraordinary Session of ECOWAS Authority of Heads of State and Governments held in Dakar on 12 September 2015, to extend the ECOWAS Security Mission in Guinea-Bissau’s mandate until June 2016 and recalled the provisions of resolution 2203 (2015) in this regard. In this respect, they commended the decision of the European Union to provide financial support to this Mission.
The members of the Security Council reiterated their full support for the key role and active engagement of Miguel Trovoada, the Special Representative of the Secretary-General and Head of the United Nations Integrated Peacebuilding Office in Guinea-Bissau (UNIOGBIS), including his good offices and close coordination with the international community.