In 1945, following the Bretton Woods agreements, the French State created the CFA franc under the name of "franc des Colonies Françaises d'Afrique". This new currency first replaces the franc of issues of French Equatorial Africa (FEA). Then in January 1955, the Issuing Institute of French Equatorial Africa and Cameroon was founded. In April 1959, this institute was quickly replaced by the Central Bank of the States of Equatorial Africa and Cameroon more commonly called Central Bank. Finally, on November 22, 1972, this establishment took the final name of Bank of the States of Central Africa (BEAC).
The Bank of Central African States
The Bank of Central African States (French: Banque des États de l'Afrique Centrale, BEAC) is the main monetary institution of the Economic and Monetary Community of Central Africa (French: Communauté économique et monétaire de l'Afrique centrale, CEMAC) and the central bank common to the six states that constitute it (Cameroon, Central African Republic, Republic of Congo, Gabon, Equatorial Guinea and Chad). Created on November 22, 1972 by the monetary cooperation agreements signed in Brazzaville, it succeeds the Central Bank of the States of Equatorial Africa and Cameroon. It has been based in Yaoundé (Cameroon) since January 1977 (1).
Mutualization of emissions!
Between 1993 and 2002, the Bank of Central African States launched a series of 5 banknotes of 500 francs, 1,000 francs, 2,000 francs, 5,000 francs and 10,000 francs, which had the distinction of being identical for the first time to the six states constituting the Economic and Monetary Community of Central Africa. To spot the notes allocated to each country, an alphabet letter and a barcode have been printed on the front:
Example: the 2000 franc note above was therefore issued for Gabon: letter "L" and bar code N ° 4!
|C||Republic of Congo||N° 1|
|F||Central African Republic||N° 3|
|N||Equatorial Guinea||N° 5|
In 2002, the Bank of Central African States launched an issue of banknotes currently in circulation and comprising 5 denominations of 500 francs, 1,000 francs, 2,000 francs, 5,000 francs and 10,000 francs. As for the previous issue, each country is identified by an alphabet letter printed twice on the sides on the front but the bar code has disappeared this time:
|M||Central African Republic|
|T||Republic of Congo|
The Gabon banknote catalog
All the banknotes produced by the Bank of Central African States between 1993 and 2003 for the 6 countries being strictly identical and in order to avoid repetitions in the catalog, we have therefore chosen to publish for the moment only banknotes issued for Gabon, a total of 20 banknotes circulating between 1971 and 2002 and divided into the following periods:
1971 : Central Bank
1974-1984 : Bank of Central African States
1984-1991 : Bank of Central African States
1993-2002 : Bank of Central African States (joint issue)
2002 : Bank of Central African States (joint issue)
And tomorrow ?
The last issue of banknotes currently in circulation and which already dates from 2003 is running out of breath. This so-called safe and innovative issue when it came out, very quickly proved to be very fragile in terms of its solidity and its resistance over time. Banknotes have not been renewed for 17 years, the shortage of denominations is becoming more and more chronic ... In October 2019, the Bank of Central African States announced the launch of a new issue of banknotes for the six countries of the Economic and Monetary Community of Central Africa. But this issue is still not launched in manufacturing to date!
(1) « Bank of Central African States », wikipedia article.