By an agreement reached this Saturday, December 21 in Abidjan, in the presence of French presidents Emmanuel Macron and Ivorian Alassane Ouattara, the end of the CFA franc and the advent of the Eco in the UEMOA zone were recorded. In this process, Benin, through its Head of State Patrice Talon and its Minister of Economy and Finance Romuald Wadagni, President of the WAEMU Statutory Council of Ministers, will have played a leading role.

Benin undoubtedly remains one of the cornerstones of the end of the CFA franc in the UEMOA community and even in Africa. In this historic process, Romuald Wadagni has revealed himself as a true masterpiece under the leadership of Patrice Talon. The latter has never hidden his position to break with the colonial mechanism that characterizes what will soon be the old single currency, the CFA franc. As proof, in his last interview with French media, France 24 and RFI on November 8, 2019, the President of the Republic of Benin courageously affirmed his point of view on the issue. He announced that an agreement will be reached shortly and that the African states concerned will be free to manage their foreign exchange reserves.

From the above, the commitment of Romuald Wadagni President of the UEMOA Statutory Council of Ministers on this project is justified. The Minister of Economy and Finance of Benin has invested a lot in the culmination of this process, the end of the CFA franc and the advent of the Eco. He led several preparatory works, high-level technical meetings, negotiations so that Africa, particularly the UEMOA zone, is freed from this monetary dependence. The signing of the agreement ending the CFA Franc in West Africa by Romuald Wadagni was only then the fruit of great efforts and heavy sacrifices made by the latter. He is one of the progenitors of this agreement, perceived by Bruno Le Maire, French Minister of the Economy, as “a historic step which opens an era in relations between France and Africa”.