XAF and XOF: business payments in the CFA franc zones

There are two CFA francs. XAF is used by six Central African countries under the BEAC, and XOF by eight West African countries under the BCEAO. Both are pegged to the euro at the same rate, but they are separate currencies, and each zone has its own payment systems and foreign exchange rules.

Rashidatou K.Payments editor

Published: 15 August 2026
Updated: 23 October 2026
Reading time: 2 min read

Fourteen African countries use a CFA franc. They are split between two currencies that look alike, have the same value, and are not interchangeable. For a business paying suppliers or receiving from clients in Cameroon, Senegal or Côte d'Ivoire, knowing which zone you are dealing with comes first.

What are XAF and XOF?

	XAF	XOF
Name	Central African CFA franc	West African CFA franc
Central bank	BEAC (Banque des États de l'Afrique Centrale)	BCEAO (Banque Centrale des États de l'Afrique de l'Ouest)
Economic union	CEMAC	UEMOA (WAEMU)
Countries	Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, Gabon	Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo
Peg	655.957 per euro	655.957 per euro

The peg is guaranteed by the French Treasury under monetary cooperation agreements. Because the rate is fixed to the euro, EUR/XAF and EUR/XOF do not move. Against the US dollar, both move exactly as EUR/USD does.

How do payments move inside each zone?

	Central Africa (XAF)	West Africa (XOF)
Large-value RTGS	SYGMA	STAR-UEMOA
Retail clearing	SYSTAC	SICA-UEMOA
Interbank card and mobile switch	GIMAC	GIM-UEMOA
Main mobile money	MTN MoMo, Orange Money	Orange Money, Wave, MTN MoMo, Moov Money

Mobile money is the everyday account for many people and small businesses in both zones. In Senegal and Côte d'Ivoire, Wave's low fees changed how people pay. Wallets have limits, so bank accounts still handle most supplier invoices.

What foreign exchange rules apply?

Each zone has its own foreign exchange regulation. In CEMAC, the regulation that took effect in 2019 requires banks to obtain supporting documents for transfers abroad, requires export proceeds to be repatriated, and places limits on holding foreign currency accounts. In UEMOA, transfers also go through approved banks with documents for larger payments. In practice:

Expect your supplier's bank to ask for an invoice or contract for an incoming payment.
Expect payments out of the zone to take longer and need more paperwork than payments in.
Agree in the contract who bears bank charges.

Should you pay CFA suppliers in euros or francs?

Many suppliers in the CFA zones invoice in euros, because the peg makes conversion predictable. Paying euros by SWIFT or SEPA-reachable correspondent banks, and letting the supplier's bank convert at the fixed rate, is common. For local staff and smaller suppliers, a local payout in francs avoids the supplier's bank fees. See paying suppliers in USD or local currency.

What about PAPSS?

The BEAC joined the Pan-African Payment and Settlement System in 2026, which will let CEMAC banks settle payments with other African countries in local currencies. See what PAPSS is.

XAF and XOF with Rivet

Rivet's Scale plan holds both XAF and XOF next to USD, EUR and GBP. Registered companies can hold, convert and pay out CFA francs from the same account, with local details where we issue them; ask at onboarding. Companies that invoice CFA-zone clients in euros can take EUR into account details in their own name on Growth.

Questions people ask

Are XAF and XOF the same currency?

No. They have the same value against the euro and the same peg, but XAF is issued by the BEAC for Central Africa and XOF by the BCEAO for West Africa. Banknotes from one zone are not legal tender in the other.

What is the CFA franc exchange rate to the euro?

Fixed at 655.957 CFA francs per euro for both XAF and XOF. The rate against the US dollar moves with EUR/USD.

Is it easier to pay CFA franc suppliers in euros?

Often. Because of the fixed peg, many suppliers in the CFA zones invoice and receive in euros, and the conversion at their bank is predictable.

Can I pay a supplier in Cameroon by mobile money from abroad?

Some international payout providers can pay MTN MoMo and Orange Money wallets in Cameroon. Wallet limits apply, so larger payments usually go to bank accounts.

Sources

Written by

Rashidatou K.

Payments editor

Rashidatou writes Rivet's guides to how money moves between countries: the payment rails, what each one costs, and the account details a company needs to get paid in another currency. Every figure in Rashidatou's articles is traced to the scheme rulebook, the regulator or the provider's published price list, and those sources are listed at the end.