The Central African Economic and Monetary Community (CAEMC) has been a monetary union for several decades now. According to the hypothesis of endogenous optimal currency areas (OCAs), the degree of business cycle synchronisation across its member states should be significantly higher today than...

COMESA (Common Market for Eastern and Southern Africa) aims at establishing a currency union by 2025. To this end, a policy harmonisation programme and a set of convergence criteria have been set up. A number of projects to foster trade, economic and financial integration have also been...