Burkina Faso is on the verge of hitting a significant milestone. While President Traore has done so much to destroy French imperialist influence over Burkina Faso, the issue of the CFA Franc still remains. This colonial relic has for decades stunted the financial and monetary independence of Francophone Africa. However recent news indicates that Traore is on the verge of achieving true monetary independence for Burkina Faso. In a recent report, Burkina Faso is in the process of creating a new currency which they have named SIRA. Unlike the CFA Franc, SIRA will be fully controlled by the Burkinabe authorities. But will this currency be able to successfully replace the CFA Franc? Let's find out.
In an interview in February 2024, the President of Burkina Faso said something very striking that shows that he is a man on a mission to transform Burkina Faso. He said “Perhaps everything we’ve done has surprised you, hasn’t it? Don't worry more changes are coming that might still surprise you. We will break every tie that has kept us in slavery” What an iconic statement. Traore’s statement proves that all that he has done since assuming power in Burkina Faso, was planned and none of those actions were made on impulse. His statement is a slap to the face of those people who say that because he is a military man he doesn't know what he is doing and cannot rule a country.
As the Captain has said, everything they have done has certainly surprised the world, especially the West, and now they are about to surprise the West, especially France with another move- the creation of a new currency. Captain Traore says the plan is to break all ties that have kept the country in slavery and we can all agree that the CFA Franc, the currency that is currently being used by 14 African countries including Burkina Faso is something that has kept these nations in slavery.
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