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West African currency is to be launched

03 October 2004

On September 13th 2004 the five heads of state of the West African Monetary Zone (WAMZ) - Ghana, the Gambia, Guinea, Nigeria and Sierra Leone - agreed to launch a monetary union by July 1st 2005.

This follows a two-year delay on earlier such plans. It is hoped that over time the currency will merge with the CFA Franc, creating a stable currency for west and central Africa.