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West African Economic and Monetary Union (WAEMU)

est. January 10th, 1994


The WAEMU was formed in 1994 to promote economic integration among member countries, which share a common currency (CFA Franc) issued by the Central Bank of West African States (BCEAO). Among its achievements, the WAEMU has successfully implemented macro-economic convergence criteria and an effective surveillance mechanism. 


The primary objectives of the WAEMU are:

  • Greater economic competitiveness, through open markets, in addition to the rationalization and harmonization of the legal environment
  • The convergence of macro-economic policies and indicators
  • The creation of a common market
  • The coordination of sectoral policies
  • The harmonization of fiscal policies