France 1945: CFA franc-The Currency It Created For Its African Colonies—And Still Controls Today

In 1945, France created a currency for its African colonies. 80 years later, 14 nations still use it. The CFA franc is printed in France, was historically backed by reserves held in the French Treasury, and is pegged to the euro at a rate set by European institutions — not by the African countries whose economies depend on it.

This is the story of how a post-war monetary decision became one of the most enduring instruments of economic control in modern history. From the assassination of leaders who dared to challenge it, to the wave of coups sweeping the Sahel today, the CFA franc sits at the center of Africa's unfinished battle for sovereignty.

In this documentary, we trace the origins of the Franc Zone, the mechanics of the operations account, the devastating 1994 devaluation that halved the purchasing power of 150 million people overnight, and the growing movement to finally break free from a system designed during colonialism and preserved long after independence.

If a nation doesn't control its own money, can it truly call itself free?

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