KIGALI, Rwanda

Overhauling the CFA franc, a France-backed currency used by former colonies in West Africa, could give Francophone Africa more control over their economies, experts say, even as skepticism remains.

Last December, West Africa’s monetary union agreed with France to rename the CFA franc the eco and cut some financial links with Paris that have underpinned the region’s common currency since its creation in 1945.

Speaking at a news conference with French President Emmanuel Macron in Abidjan, Ivory Coast President Alassane Ouattara hailed the move as historic for West Africa.

The announcement followed talks in Nigeria’s capital Abuja between

Read more: Experts sound cautious optimism over CFA franc reform