Source: https://rivet.global/blog/cfa-franc-business-payments
Published: 2026-08-15 · Updated: 2026-10-23 · By Rashidatou K.

# XAF and XOF: business payments in the CFA franc zones

The two CFA francs for businesses: XAF in Central Africa, XOF in West Africa, both pegged to the euro. Payment rails, mobile money, FX rules and suppliers.

## Key takeaways

- XAF (Central African CFA franc) is used in Cameroon, Gabon, Congo, Chad, the Central African Republic and Equatorial Guinea.
- XOF (West African CFA franc) is used in Senegal, Côte d'Ivoire, Mali, Burkina Faso, Niger, Togo, Benin and Guinea-Bissau.
- Both are pegged at 655.957 francs to 1 euro, but they are not interchangeable.
- Payments from abroad go through banks under each zone's foreign exchange regulation, with supporting documents.
- Mobile money is widely used in both zones, especially Orange Money, MTN MoMo and Wave.

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:

1. Expect your supplier's bank to ask for an invoice or contract for an incoming payment.
2. Expect payments out of the zone to take longer and need more paperwork than payments in.
3. 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](/blog/pay-suppliers-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](/blog/what-is-papss).

## 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](/accounts) on Growth.

## Questions

### 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.