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The European Association for Banking and Financial History (eabh) e.V.


Money in Africa

Monetary and financial decolonisation in Africa in the 20th Century

9 Oct 2017 at 1:00pm

Lisbon, Portugal

eabh in cooperation with Banco de Portugal and Banque de France

Monetary and fiscal processes are important elements in state building and in managing international economic relations for emerging economies and new states.  These processes were also important during the transition to constitutional independence in Africa; however little attention has been paid to the trajectory of the monetary and fiscal processes of decolonisation in Africa. The topic is less researched than the political or socio-cultural decolonisation processes. However, it has had important implications for the economic development of these states.

The objective of this conference is to shed light on a range of different historical cross-experiences. It will provide a comparative analysis of the Portuguese, French, British, Belgian, Spanish, Italian and German cases of colonial transition in monetary and financial matters.


13.00–14.00MONDAY 9th October 2017

Reception with the Governor of Banco de Portugal
14.00–14.45 Keynote speech: Lessons from the monetary decolonisation of the British Empire
Catherine Schenk (Glasgow University)

14.45-15.00 The history of the monetary decolonisation: a bird’s eye view
Olivier Feiertag (Normandy University)

15.00-16.15First Session: Facing the course of history: national experiences of colonial monetary zones

The Banque de France and the creation of the Franc Zone (1944-1952). Continuation of the colonial pact or turning point of monetary decolonisation?
François de Coustin (Banque de France)

The escudo area in Africa and optimum currency areas
Maria Eugénia Mata (Universidade Nova de Lisboa)

16.15-16.30 Coffee Break
16.30-18.00Second Session. Ruptures and continuities: monetary transition from colonial to post-colonial times

The case of Belgian Congo
Olivier Boehme (Fonds Wetenschppelijk Onderzoek-Vlaanderen), invited

Africanising and decolonizing a central bank: the case of BCEAO
Vincent Duchaussoy (Normandy University)

Cabo Verde and the Escudo Zone (1963-1973)
João Estêvão (Universidade de Lisboa)

9.00-10.30TUESDAY 10th October 2017

Third Session: Managing the monetary sovereignty after independence

Monetary transition in the Portuguese-speaking African countries: the case of Mozambique, 1961 to present time
David Hedges (Universidade Eduardo Mondlane)

The functions of compte d’operation and its effects on the UMOA economy between 1959 and 1994
Toyomu Masaki (Kanazawa University)

The transition from the Nigerian Pound to the Nigerian Naira
Chibuike Uche (University of Nigeria and Leiden University), invited

10.30-11.00 Coffee break
11.00-12.30 Monetary policy in Africa today: between sovereignty and international cooperation

Round table with the participation of:

- Michel Camdessus
- Charles Konan Banny
- Abdellatif Jouahri
- Carlos Costa (invited)
- Rogério Zandamela (to be confirmed)
- Abdul Nashiru Issahaku or Patrick Ngugi Njoroge (invited)

Moderator: Olivier Feiertag

12.30-12.45What we learned (or not) from the process of monetary decolonisation in Africa
Nuno Valerio (Universidade de Lisboa)

12.45-14.00 Lunch and end of symposium


9 Oct 2017 at 1:00pm to 10 Oct 2017 at 2:00pm


Banco do Portugal
R. do Comércio, 148
1100-150 Lisboa

Lisbon, Portugal

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