Controversial Senegalese opposition leader, Ousmane Sonko, said the country would consider the implementation of
reform of the West Africa region’s CFA franc currency at a regional level first, and if that failed, would consider creating a national currency, if his preferred candidate, Bassirou Diomaye Faye, wins the next presidential election.
Faye is one of the main candidates in Senegal’s March 24 presidential election. He is backed by the popular firebrand Sonko, who was disqualified from the race over a defamation conviction.
Sonko made the promise while speaking at a joint press conference with Faye, shortly after both politicians were released from jail.
It appeared the comment was aimed at easing concerns after their election campaign, which promised to introduce the new currency if Faye won.
“We will try to implement a monetary reform at the sub-regional level first,” Sonko said. “If that fails, we will decide as a nation.”
Sonko alleged that the CFA franc currency, which is pegged to the euro and used by eight countries of the West Africa Monetary Union, affects economic development in the region, and the time is right to explore more options.
“There’s no sovereignty if there is no monetary sovereignty,” said Faye, speaking at the same press conference.
To be declared the winner in a presidential poll, a candidate must secure the signatures of 0.8% to 1% of the voting public. At least 2,000 sponsors must be secured for each of Senegal’s fourteen regions, where a minimum of seven signatures are required.