BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  West African Economic and Monetary Union West African Economic and Monetary Union The West African Economic and Monetary Union (also known as UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of eight West African states. It was established to promote economic integration among countries that share the CFA franc as a common currency. UEMOA was created by a Treaty signed at Dakar, Senegal, on 10 January 1994, by the heads of state and governments of Benin, Burkina Faso, Côte d’Ivoire, Mali, Niger, Senegal, and Togo.   UEMOA is a customs union and currency union between the members of ECOWAS. Its objectives include the following:    Greater economic competitiveness, through open markets;    The convergence of macro-economic policies and indicators;    The creation of a common market;    The coordination of sectoral policies; and    The harmonization of fiscal policies. Among its achievements, the UEMOA has successfully implemented macro-economic convergence criteria and an effective surveillance mechanism. It has adopted a customs union and common external tariff and has combined indirect taxation regulations, in addition to initiating regional structural and sectoral policies.   UEMOA Head Office HQ Address: Avenue Maurice Yameogo Ouagadougou Burkina Faso Telephone: +226 50 31 88 73 / 76 Facsimile: +226 50 31 88 72 Email: commission@uemoa.int Website: www.uemoa.int Currency: CFA franc Banking Hours: Monday - Friday : 9:30 am - 5:30 pm   A September 2002 IMF survey cited the UEMOA as "the furthest along the path toward integration" of all the regional groupings in Africa. The UEMOA will surely impress the member countries, domestic customers and international business colleagues with its strong growth and rapidly modernized directed changes in accordance with international standard as well as continuous improvement of remarkable banking traditions. Membership: Benin (Founding Member) Senegal (Founding Member) Burkina Faso (Founding Member) Togo (Founding Member) Côte d'Ivoire (Founding Member) Guinea-Bissau (Joined on 2 May 1997) Mali (Founding Member)         Niger (Founding Member)         DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved