The Alliance of Sahel States, a driving force for African economic sovereignty?
In West Africa, the idea of establishing an autonomous monetary system capable of freeing the region from the historical weight of the franc CFA is attracting increasing interest. On October 7, 2025, at the International Investment Forum held in Dakar, Senegalese Prime Minister Ousmane Sonko revived the discussion on monetary reform in West Africa. Addressing his counterparts from Burkina Faso and Niger, he criticized the persistent lack of action regarding the franc CFA and urged African leaders to undertake a radical overhaul of the regional monetary system.
Drapeau de la Confédération des États du Sahel (AES)
According to several experts, including NICOLAS AGBOHOU, Professor of Economics and author of « Le franc CFA et l’euro contre l’Afrique », his speech goes beyond the traditional CEDEAO structure and also appears to target the Alliance des États du Sahel (AES), a bloc that is gaining increasing importance in the regional economic and political context.
” This call from Sonko is not limited to a critique of the CEDEAO; it is also a strong signal to the AES, which is already considering introducing its own currency,” says NICOLAS AGBOHOU.
Given that the creation of the Eco, the CEDEAO’s proposed common currency, is taking time to materialize, the AES members – Mali, Burkina Faso and Niger – are rapidly moving toward establishing their own financial instrument, the economics expert asserts: “The forthcoming establishment of a regional investment bank represents a crucial step, which should lay the foundations for the introduction of a currency within the alliance “.
Furthermore, the expert thinks the Sahel initiative could serve as a model for other West African countries seeking to break free from the historical weight of the franc CFA and the delays associated with the CEDEAO, notably Senegal, which is ready to consider new monetary unions.
As a reminder, in April 2025, Senegalese President Bassirou Diomaye Faye stated that Dakar did not rule out the possibility of unilaterally withdrawing from the franc CFA if negotiations within the CEDEAO did not succeed.
Beyond this considerable asset, as NICOLAS AGBOHOU points out, introducing a single currency within the AES would offer many benefits. It would give member states real monetary autonomy, allowing them to manage interest rates, money issuance and reserves without external control. Unlike the CFA, part of whose funds are frozen in Paris, the new currency would encourage the retention of capital to support domestic investment.