The Confederation of Sahel States (AES), comprising Mali, Burkina Faso, and Niger, has declared its intent to break away from the CFA franc currency zone in pursuit of full monetary sovereignty. This bold move was announced during a high-level diplomatic visit to Moscow, where AES foreign ministers met with Russian officials in their first formal engagement with the Kremlin.
Speaking in an interview with Russian broadcaster Sputnik, Niger’s Foreign Minister Bakary Yaou Sangaré underscored the strategic importance of currency control, describing it as a “cornerstone of sovereignty.” He declared that the three-member alliance could no longer remain within the monetary system managed by the West African Economic and Monetary Union (UEMOA) and the Central Bank of West African States (BCEAO).
“A country that does not control its currency is not truly sovereign,” Sangaré stated. “We cannot continue in the CFA zone while pursuing independence and strategic autonomy.”
The CFA franc, backed by the French Treasury and used by eight West African nations, has long been criticized by African leaders and economists as a relic of colonialism. While France argues it ensures monetary stability, critics say it limits economic flexibility and serves Paris’ geopolitical interests.
Tensions between AES states and UEMOA have grown in recent years. Sangaré highlighted that Mali’s public assets were frozen by the BCEAO for eight months following the country’s 2021 military coup, calling the action politically motivated and economically punitive.
The foreign minister did not provide a specific timeline for the creation of a new currency but firmly dismissed skepticism over its feasibility, pointing to successful currency reforms in other parts of the world. He noted that preparations are underway and that technical support from partners like Russia would be crucial in designing and circulating the new monetary system.
The diplomatic visit to Russia underscores the AES bloc’s pivot away from traditional Western allies, especially France, toward new partnerships with Moscow and other emerging powers. The bloc has recently signed multiple cooperation agreements with Russia in the areas of defense, mining, and infrastructure.
Mali, Burkina Faso, and Niger have all experienced military coups since 2021, leading to tense relations with the West and suspension from the Economic Community of West African States (ECOWAS). In January 2024, they jointly announced their withdrawal from ECOWAS and the formation of the Confederation of Sahel States, a regional alliance promoting security, political integration, and economic independence.
Russia has seized on this opportunity to expand its influence in Africa, pledging military support and deeper economic collaboration. Sangaré explicitly called on Russia to play a key role in the “next stage” of the AES bloc’s monetary development.
“Russia can be a strategic partner not just in defense and diplomacy, but also in helping us achieve monetary and financial sovereignty,” he added. While no official roadmap for currency transition has been published, AES officials have hinted that a feasibility study and consultations with monetary policy experts are already underway. Analysts believe the success of the initiative will depend on regional economic stability, public confidence, and international partnerships.
The proposed currency project could potentially reshape West Africa’s monetary architecture and further erode French influence in the region. However, it also presents risks, including inflation, capital flight, and challenges in monetary policy coordination.
If the AES bloc succeeds, it would mark the first major break from the CFA franc zone since Senegal and Côte d’Ivoire helped establish it in 1945.
