On this page, we have compiled the different currencies, the official names of all African countries. The latest and official list of the various African currencies is very up to date.
Currency is the financial mechanism originating from the Latin word ‘currens‘, which acts as a legal tender. Currencies are official legal tenders adopted by countries for trading, it is essential for exchange and trading within the country.
In a socio-economic evaluation, Currencies are made available for denizens within a nation in forms of coins and banknotes in order to facilitate the exchange of goods and services, valuation purpose and settlement of debts.
Transactions are facilitated and goods are also valued with currencies, Ghana’s official currency is Cedis while Nigeria’s official currency is the Naira. Each country on the continent of Africa has its Unique currency.
- West African CFA franc is in use in 8 independent countries namely Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo, Forex Code is XOF and nickname céfa, franc.
- Central African CFA franc is a legal tender in 6 independent countries namely Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. The Forex code is XAF, CFA means Coopération financière en Afrique centrale, in English, it means Financial Cooperation in Central Africa.
- The most-traded African currency on the International on the International Foreign Exchange (FOREX) market is the South African Rand
- Both CFA currencies are pegged to the euro at 1 euro = CFA 655.957 at the time of publishing this page.
Table of African countries and their Currencies
Official Currency Name
|Benin||Porto-Novo||West African CFA franc|
|Burkina Faso||Ouagadougou||West African CFA franc|
|Cameroon||Yaounde||West African CFA francs|
|Cape Verde||Praia||Cape Verdean Escudo|
|Central African Rep.||Bangui||Central African CFA franc|
|Chad||N’Djamena||Central African CFA franc|
|Comoros||Moroni||Comorian franc (KMF)|
|Congo (DRC)||Kinshasa||Congolese Franc (CDF)|
|Cote d’Ivoire||Yamoussoukro||West African CFA franc|
|Egypt||Cairo||Egyptian pound (EGP)|
|Equatorial Guinea||Malabo||Central African CFA franc|
|Ethiopia||Addis Ababa||Birr (ETB)|
|Gabon||Libreville||Central African CFA franc|
|Guinea-Bissau||Bissau||West African CFA franc|
|Mali||Bamako||West African CFA franc|
|Niger||Niamey||West African CFA franc|
|Sao Tome & Principe||Sao Tome||Dobra|
|Seychelles||Victoria||Seychellois rupee (SCR)|
|Sierra Leone||Freetown||Sierra Leonean leone (SLL)|
|South Africa||Pretoria||South African Rand (ZAR)|
|South Sudan||Juba||South Sudanese pound (SSP)|
|Sudan||Khartoum||Sudanese pound (SDG)|
|Togo||Lomé||Central African CFA franc|
|Western Sahara||Laayoune||Moroccan Dirham|
(The majority of the territory of Western Sahara is currently administered by the Kingdom of Morocco.)
|Zambia||Lusaka||Zambian Kwacha (ZMK)|
|Zimbabwe||Harare||Zimbabwean Dollar (ZWD)|
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