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From Control to Cooperation: Why Europe Must Rethink Its Relationship with Africa

As the global economy adjusts to the ongoing trade war between the United States and China, one continent has become increasingly central to future power dynamics: Africa.

Rich in natural resources, demographic vitality, and economic potential, Africa stands poised to shape the 21st century. Yet much of the continent still grapples with the enduring legacies of colonialism.

One of the most persistent symbols of that legacy is the CFA franc a currency system created by France in 1945 and still used today by 14 African countries.

For France and other former colonial powers, this is a defining moment.

Will they cling to outdated systems of control masked as cooperation, or will they rise to meet the urgency of the moment by supporting African nations on the path to full sovereignty, economic independence, and regional leadership?

The CFA Franc: Stability or Subjugation?

The CFA franc was originally introduced to stabilize France’s colonial economies in West and Central Africa. Today, it is still pegged to the euro and supported by French guarantees.

Supporters of the system argue it brings fiscal discipline, low inflation, and reliable convertibility. On the surface, these are valuable traits, especially in regions susceptible to macroeconomic shocks.

But beneath this veneer of stability lies a troubling reality. Until recent reforms in 2019, countries using the CFA franc were required to deposit 50% of their foreign exchange reserves into French Treasury accounts a policy that, though modified, was widely seen as a form of economic dependency.

Decisions about monetary policy were influenced or directly overseen by representatives from the French government. Even now, critics argue that the structure prevents African nations from tailoring fiscal responses to local crises, like pandemics, conflicts, or commodity shocks.

While the West African Economic and Monetary Union (WAEMU) has begun taking steps to reform the currency including ending the mandatory deposit of reserves and planning a transition to the “Eco” currency many see these as largely symbolic unless accompanied by deeper political and economic changes.

A Turning Point in Global Competition

The CFA franc debate is part of a larger context. Africa is not merely a passive player in global affairs it is increasingly being courted by global powers. China, through its Belt and Road Initiative, has invested billions in African infrastructure, ports, and mining.

The United States, wary of China's expanding influence, has been recalibrating its trade and development policies toward the continent.

In this new reality, Europe and particularly France risks being left behind. If former colonial powers continue to interact with African nations through frameworks that reflect old hierarchies and economic paternalism, they will not only lose political goodwill but also strategic access to emerging markets, natural resources, and diplomatic partnerships.

This is no longer just a historical or ethical issue. It is a matter of geopolitical survival.

 

Moving From Exploitation to Partnership

To remain relevant, Europe must stop viewing Africa as a zone of influence and begin treating it as a partner.

This means several key shifts in policy and attitude:

·       Systems like the CFA franc must evolve or be replaced with mechanisms that truly reflect African agency and sovereignty. Token reforms are insufficient. Monetary unions should be governed by Africans, for Africans.

·       Instead of extractive relationships based on raw material exports, Europe should prioritize investments in African manufacturing, technology, and renewable energy. This supports sustainable growth and creates jobs that reduce the push factors of migration.

·       Development assistance and trade agreements must be built around respect, not conditions that echo colonial tutelage. The age of dictating economic policy from Paris, London, or Brussels is over.

·       Europe can support Africa’s long-term growth through meaningful partnerships in higher education, vocational training, and digital literacy building the next generation of leaders, scientists, and entrepreneurs.

Beyond the Past: A Shared Future

Critics of these ideas often argue that Africa is not ready to “go it alone,” or that the CFA franc’s removal could destabilize already fragile economies.

But such arguments echo the very logic used to justify colonial rule that Africans need external guardianship. In reality, African nations are already asserting themselves through initiatives like the African Continental Free Trade Area (AfCFTA), the African Union’s Agenda 2063, and regional economic blocs.

Europe can either help accelerate this movement or be sidelined by new players who offer fewer lectures and more deals. The choice is clear.

As global supply chains shift, and as the world reckons with climate change, demographic transformation, and economic inequality, Africa’s role will only grow. Europe, with its historic ties and shared cultures, is uniquely positioned to become Africa’s closest ally if it chooses cooperation over control.

Conclusion

The CFA franc is more than just a currency. It is a symbol of a relationship stuck in the past. If Europe wants to play a meaningful role in Africa’s future, it must support policies that advance true sovereignty, economic resilience, and regional leadership.

The world is watching. Africa is rising. And it’s time for Europe to catch up not by dictating the terms, but by listening, learning, and finally walking side by side.

Kuala Lumpur.

03.05.2025

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