Central Bank of Central African States (BEAC, Banque des Etats de L’Afrique Centrale) is located in Cameroon and is the Central Bank serving six African countries—Cameroon, Congo, Gabon, Equatorial Guinea, Central African Republic and Chad. The Central Bank headquarters is located in Yaoundé, the capital of Cameroon. Today, the Central Bank in Yaoundé is under the control of France banking systems with directions coming from Paris.
The Rosenthall Group (LLC) USA and the Global African Diaspora Voice Movement will provide definitive leadership in creating a comprehensive Central Banking system in each of the CEMAC states and develop agendas to benefit the people and the needs of each sovereign country. This action will substantially increase the annual GDP growth of each country. The funds of all French speaking countries should be maintained in Africa and not in France as it is today.
West African countries will stop using the Financial Community of Africa (CFA) franc currency beginning sometime in 2020, Ivorian President Alassane Ouattara said in December 2019. Eight members of the West African Economic and Monetary Union (UEMOA) reached an agreement to use a new common currency called the ECO that will be connected to the EURO.
The Rosenthall Group (LLC) USA strongly believes that this action is placing old wine in new bottles, only changing the name of the currency. The CFA-franc remains pegged to the euro and countries will give up using the colonial era CFA. The CFA has been used for 74 years and France will remain as the guarantor country in case of crisis. UEMOA and the 14-French-speaking African member states of the Economic and Monetary Community of Central Africa (CEMAC) have been using two different types of CFA-francs in central and west Africa since the colonial period. The new ECO currency will be put into place in the West African countries include: Benin, Burkina Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
A new currency backed by gold would be a tremendous advantage for the six African countries – Cameroon, Congo, Gabon, Equatorial Guinea, Central African Republic, Chad and the Central Bank Headquarters located in Yaounde, the capital of Cameroon. The Rosenthall Group and directors of The Bullion Bank of Africa, BBA, will go to Cameroon in the last week of January 2020 to meet with the heads of state in the region regarding these issues.
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