‘We Are Not Free if Our Financial Flows Controlled’: Expert on Search for Alternative to CFA Franc


African Economists Explore Alternatives to CFA Franc Amid Calls for Financial Independence

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The potential abandonment of the CFA franc has sparked extensive debate in former French colonies across Africa.

Lui Francois, head of the charitable foundation Way to Success, emphasized the significance of regaining financial autonomy: “We are not truly free if our financial flows are controlled.”

Francois criticized the CFA franc as a tool of ongoing colonization, asserting, “The one who controls financial flows controls you.” He highlighted the broader implications beyond currency, condemning what he perceives as paternalistic oversight that restricts self-determination.

“We seek alternatives to break free from constant control,” Francois stated, advocating for African economists to explore new economic frameworks. “Our goal is to transition from dependency to empowerment, fostering better outcomes than our current system allows.”

In addressing potential challenges, Francois viewed setbacks as opportunities for growth and learning, underscoring a proactive approach towards achieving financial sovereignty.

David Okafor
David Okaforhttp://naija247news.com
David Okafor Foreign Affairs Editor, Naija247news Media Group David Okafor is the Foreign Affairs Editor at Naija247news Media Group, with over five years of experience in international journalism. He excels in delivering insightful and impactful coverage of global politics and economic trends. Holding a degree in International Relations, David is known for his investigative skills and editorial leadership. His work ensures Naija247news provides accurate and comprehensive analysis of world events, earning him respect in the media industry.

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