INTRODUCTION OF CFA BANKNOTES BY CENTRAL BANK OF WEST AFRICA (BCEAO) 1.The CFA franc is the name of two currencies issued in Africa; the West African CFA and the Central (Equatorial) African CFA. Although theoretically separate the two currencies are effectively interchangeable . The CFA banknotes are probably the most complex series of banknotes ever issued. 2.The CFA franc was introduced into the French Colonies in West and Central (Equatorial) Africa in 1945.The West African CFA franc notes were introduced by Banque Centrale des Etats de l'Afrique Occidentale.Notes issued were 5, 10, 25, 50, 100, 1000.The 500 was added in 1946 and the 5000 in 1948. 3.In 1955 the Institut d'Emisssion de l' A.O.F et du Togo took over the production of paper money issuing 50, 100, 500,1000. 4.This was followed by in 1959 the BCEAO (Banque Centrale des Etat de l'Afrique de l'Ouest) taking over the issuance of paper money. Through 1965 they have a date in the bottom centre. It served as the continuing emissions authority for West African Countries soon to become independent. When BCEAO took over the issuance of paper money they reintroduced the 5000 Franc, the last 50 franc notes were issued in 1959 and the 100 franc notes were not issued after 1965. The 10000 franc note was introduced in 1977 and the 2500 note in 1992. The first BCEAO series of notes were issued without the code letters which were used later to identify the different countries 5.Later issues of the first series had both code letters and the date at the bottom, subsequent notes dropped the date. Some of the first early series notes with code letters are rare e.g. Mali 5000 francs Pick 404Dc and Mauritania 5000 Francs Pick 504Ed; ( notes issued prior to each states withdrawal for the union). Other notes in the first series whilst not so rare are still collectable e.g. Niger 5000 Francs Pick 604Hm, and Togo 5000 Francs Pick 804Tk 6.The letters on the West African notes represent the following countries: "A" Cote d'Iviore,"B" Benin,"C" Burkina Faso (Upper Volta),"D" Mali 1959-61, renewed 1981 present,"E" Mauritania 159-71,"H" Niger,"K" Senegal,"S" Guinea Bissau from 1997,"T" Togo. These countries form the West African Economic Union (WAEMU) The BCEAO 5000 Franc Second Series started in 1977 illustrates the different country code letters.They started with new 5000 and 10000 followed by 500 francs in 1979 and 1000 francs in 1981. 7.Mali pulled out of the BCEAO in 1962 all notes being recalled from circulation and destroyed, several businessmen were executed for continuing to hold notes. The notes bearing President Modibo Keitas portrait were issued by the Mali Central Bank and predated to the founding of the Republic 22-09-1960 .A second series of notes was issued in 1967 with Kieta's portrait on the right, they continued to circulate until 1971. After the overthrow of Keita a new cental bank was established in 1968 and new banknotes began circulating in late 1970. Because the notes are scarce and colorful they are collectable and valuable . 1.(click link African CFA Countries Map) 2.Banque Centrale des Etats de l'Afrique Occidentale 100,500,1000 3.Institut d'Emisssion de l' A.O.F et du Togo 50, 4.West African States BCEOA First Series 1959-77 5. Mali 5000 francs Pick 404Dc and Mauritania 5000 Francs Pick 504Ed; 6.BCEAO 5000 Franc Second Series illustrating different country code letters 1977-1992 The current designs which were initiated in 1991 are not covered here. *See separate article * Central (Equatorial) Africa Banknotes
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