Agreements signed between the former French colonies and their former administrative authority, France, although little known to the general public, are agreements signed on the eve of independence and which allowed the latter to continue to control its territories in many areas, such as than the military, the political, but above all economic agreements.
- Colonial debt for reimbursement of the benefits of colonization
Newly independent states must reimburse the cost of infrastructure built by France during colonization. We are still looking for the details of the costs, the evaluation of the benefits and the payment conditions imposed by France on African countries.
- Automatic confiscation of national financial reserves
African countries must deposit their financial reserves with the Banque de France. France has thus “kept” the financial reserves of fourteen African countries since 1961: Benin, Burkina Faso, Guinea Bissau, Côte d’Ivoire, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon.
Thus, the governance of monetary policies remains asynchronous and incomplete because they are steered directly by the French government, without any link with the financial authorities of countries such as CEMAC or ECOWAS. Thus, because of the conditions which bind the banks of the economic and financial zones, they are obliged to keep 65% of their foreign exchange reserves in an operations account kept by the French Treasury, as well as an additional 20% in order to cover ” financial risks ”.
In addition, the banks of the CFA zones impose a credit limit on each member country equivalent to 20% of the state revenue for year N-1! Although the BEAC or the BCEAO have higher withdrawal possibilities from the French Treasury, these withdrawals must be subject to the approval of the French Treasury. The final decision therefore rests with the French Treasury, which itself 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 do not decide any monetary policies on their own. Worse, the countries themselves do not even know how much of the financial reserves belong to them as a group or individually as a country, but held by the administration of the French Treasury.
- The right of first refusal on any raw or natural resource discovered in the country
France has the primary right to purchase the natural resources of the land of its former colonies. It is only after France has said “I am not interested” that African countries are allowed to seek other partners.
- Priority to French interests and companies in public procurement and public tenders
In the award of public contracts, French companies have priority over award. Even though African countries can get better value for money elsewhere.
As a result, in most of the former French colonies, all of the country’s economic levers are in the hands of French expatriates. In Côte d’Ivoire, for example, French companies own and control all major utilities including water, electricity, telephone, transport, ports and major banks. It’s the same in trade, construction and agriculture.
- Exclusive right to supply military equipment and train military officers of the colonies
Thanks to a sophisticated system of scholarships, grants, and the “defense agreements” attached to the colonial pact, Africans must send their senior officers for training in France.
- The right for France to deploy troops and intervene militarily in the country to defend its interests
By virtue of what are called “the 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, which are fully managed. speak French.
- The obligation to make French the official language of the country and the language of education.
An organization for the French language and the dissemination of French culture has even been created. It is called the “Francophonie” and has several satellite organizations. These organizations are affiliated and controlled by the French Minister of Foreign Affairs.
- The obligation to use the CFA franc (franc of the French colonies in Africa). Although this system is not shared by the European Union, the French colonies are forced to use the FCFA exclusively.
- The obligation to send to France an annual balance sheet and a state reserve report. No report, no money. The director of the central banks of the former colonies presents the said report at the biannual meetings of finance ministers on the former colonies. This report is then compiled by the Banque de France and the French Treasury.
- Renounce all military alliance with other countries, unless authorized by France. Most of these countries only have military alliances with their ex-colonizers simply by the fact that France prohibited them from any other military alliance.
11. The obligation to ally with France in the event of war or global crisis. Over a million African soldiers fought for the defeat of Nazism and fascism in World War II.