The Banque des États de l'Afrique Centrale served six member states of the CEMAC zone — Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon — issuing common currency under a cooperative central banking arrangement backed by the French Treasury through the franc CFA. The two signature combinations reflect different periods within the 1994–2002 issue window, corresponding to changes in the bank's directorate rather than any monetary policy shift.
The 1994 start date is not coincidental: that January, the CFA franc was devalued by 50% against the French franc, the first devaluation since 1948. This note entered circulation in the immediate aftermath of that decision.
The Banque des États de l'Afrique Centrale served six member states of the CEMAC zone — Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon — issuing common currency under a cooperative central banking arrangement backed by the French Treasury through the franc CFA. The two signature combinations reflect different periods within the 1994–2002 issue window, corresponding to changes in the bank's directorate rather than any monetary policy shift.
The 1994 start date is not coincidental: that January, the CFA franc was devalued by 50% against the French franc, the first devaluation since 1948. This note entered circulation in the immediate aftermath of that decision.