On Friday 26 January 2024, Ellen KOUNTZ gave the 6th annual conference at INSEEC MSc Paris for students on the Finance programmes.
The conference debates organised by Ellen KOUNTZ, Director of the Finance Department, are a real opportunity for our students to challenge preconceived ideas on subjects related to the world of finance. It’s an opportunity for them to show that they are open-minded and curious about areas they wouldn’t think of at first glance in terms of the direction they want to take in their professional careers. By helping them to discover niche or little-publicised professions, we give them great opportunities for reflection.
More than 170 students from several MSc 1 and MSc 2 specialisations attended the conference and took part in the debates.
Mrs KOUNTZ will be joined by a variety of speakers:
- Ms Rany PATOUT gave a presentation on China’s financial activities on the African continent.
- Joseph Pasky NGAMENI PhD gave us a live video presentation from the University of Dschang in Cameroon on Mobile Money & Microfinance in the CEMAC region (Communauté Economique et Monétaire de l’Afrique Centrale).
- Mr Makhoudia DIOUF, a lecturer in geopolitics, explained the history and workings of a little-known currency, the CFA franc, which was the subject of the debate.
Every year, this conference, which was originally a student initiative, gives finance students the opportunity to find out more about the CFA franc and the consequences of not changing this controversial currency.
What is the CFA franc?
The CFA franc is a currency used by several African countries, mainly former French colonies. There are two versions of the CFA franc: one linked to the West African franc zone and the other to the Central African franc zone. These two zones are made up of countries that share a common colonial history with France. The CFA franc was introduced during the colonial period and continues to be used today. However, its existence has provoked debate and criticism, with some considering the currency to be a symbol of France’s continuing influence over its former colonies. In January 2020, France and the franc zone countries announced their decision to reform the currency, replacing the name “CFA” with “ECO”. This reform was supposed to mark the symbolic independence of African countries from France in monetary matters. However, opinions on the reform remain diverse, with some supporting the changes and others stressing the need for more substantial measures to ensure genuine economic autonomy.