What does the CFA franc give Cameroon—and what does it cost? I spend this currency every day, and a question about the cash in my pocket became an investigation into monetary power, political independence, and the choices shaping everyday life.

In The Currency After Colonialism File, I examine the Central African CFA franc, BEAC, CEMAC, France’s role, foreign reserves, and the euro peg. The investigation revisits the 1994 devaluation, distinguishes Central Africa’s arrangements from West Africa’s, and follows the debate into access to credit, offshore extractive-industry funds, and economist Joseph Tchundjang Pouemi’s critique.

What would greater monetary sovereignty make possible—and what institutions would Cameroon need for it to succeed?

I’m Joshua T Berglan, reporting from Cameroon. This is The Shadow Files, part of The Worl ...