The 11 Colonial Agreements imposed by France on Africa
A systematic looting of Africa product of French colonialism.
This is the real source of income for France. But France is not willing to overthrow this economic system that dates back to colonization and which deposits in its treasury some 500,000 million dollars from the coffers of Africa.
NOTA: DIALLO OPAM WOPO
1. The colonial debt for the reimbursement of the benefits of colonization
The newly independent states must pay the cost of the infrastructure built by France during colonization.
2. Automatic confiscation of national financial reserves.
African countries must deposit their financial reserves with the Banque de France.
Thus, France has “guarded” the financial reserves of fourteen African countries since 1961: Benin, Burkina Faso, Guinea Bissau, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon.
As a consequence, the governance of monetary policies remains asynchronous and incomplete because they are run directly by the French government, without any link to the financial authorities of countries such as CEMAC or ECOWAS. Thus, due to the conditions that bind banks in the economic and financial zones, they are obliged to keep 50% of their foreign exchange reserves in a French Treasury operations account, as well as an additional 20% to cover “the risks financiers”.
In addition, CFA zone banks impose a credit limit on each member country equal to 20% of state revenue for the N-1 year. Although the BEAC or the BCEAO have greater possibilities of withdrawal with the French Treasury, these withdrawals must be subject to the agreement of the French Treasury. Therefore, the final decision rests with the French Treasury, which has invested the reserves of African countries on the Paris stock exchange.
In other words, 80% of African financial reserves are deposited in an operating account controlled by the French administration.
The two banks in the CFA zone are African by name, but they do not decide any monetary policy on their own. Worse, the countries themselves do not even know how much of the financial reserves belongs to them as a group or individually as a country, but is in the hands of the French Treasury administration.
Profits from the investments of these funds in the French Treasury are supposed to add to the African kitty, but the banks or even member countries are not made aware of this. “Only a group limited to six French treasury administrators has knowledge of the amounts in the operating account, of the place of investment of the amounts. African central banks do not have access to this information,” said Dr. Gary K. Busch.
3. The preferential subscription right on any raw material or natural resource discovered in the country.
France has the first right to buy the natural resources of the land of its former colonies.
Only after France says, “I’m not interested,” can African countries look for other partners.
4. Priority of French interests and companies in public contracts and tenders.
In the award of public contracts, French companies have priority over the award. Even if African countries can get better value for money from another partner.
Consequently, in most of the former French colonies, all the economic levers of the countries are in the hands of French expatriates. In Côte d’Ivoire, for example, French companies own and control all the major public services: water, electricity, telephone, transportation, ports, and the big banks. The same is true in commerce, construction and agriculture.
5. Exclusive right to supply military equipment and training of military officers from the colonies.
Thanks to a sophisticated system of scholarships, subsidies and the “defense agreements” attached to the colonial pact, Africans must send their senior officers to train in France.
The situation on the continent is such that France has trained hundreds, even thousands of “traitors.” They are all inactive and will activate if necessary for a coup or any other purpose (the Bozize case in the Central African Republic)!
6. The right of France to deploy troops and intervene militarily in the country to defend its interests.
Under the so-called “defense agreements” attached to the colonial pact, France has the right to intervene militarily in African countries, and also to station troops permanently in military bases and installations, fully managed in French.
7. The obligation to make French the official language of the country and the language of instruction.
Incluso se ha creado una organización para la lengua francesa y la difusión de la cultura francesa. Se llama la “Francofonía” y tiene varias organizaciones satélite. Estas organizaciones están afiliadas y controladas por el Ministro de Relaciones Exteriores de Francia.
8. The obligation to use the CFA franc (franc from the French colonies of Africa).
This is the real source of income for France. But France is not willing to overthrow this economic system that dates back to colonization and which deposits in its treasury some 500,000 million dollars from the coffers of Africa.
9. The obligation to send France an annual balance sheet and a report on the state of reserves.
No report, no money. Be that as it may, the director of the central banks of the former colonies presents such a report during the biannual meetings of the finance ministers of the former colonies. This report is then compiled by the Banque de France and the French Treasury.
10. Renounce any military alliance with other countries, unless authorized by France. Why are regional military alliances in Africa the weakest? Most countries only have military alliances with their ex-colonizers!
11. The obligation to ally with France in the event of war or world crisis.
More than a million African soldiers fought alongside France for the defeat of Nazism and Fascism during World War II. His contribution is often ignored or downplayed by France these days.
More than a million African soldiers fought alongside France for the defeat of Nazism and Fascism during World War II.
His contribution is often ignored or downplayed by France these days.
DIALLO OPAM WOPO
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