The Banque Centrale des Etats de L'Afrique de I'Ouest (BCEAO) issues the currency for WAEMU members: Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo and the Banque des Etats de L'Afrique Centrale (BEAC) issues the currency for CAEMC
members: Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon.
It aims to show whether the gap in the standards of living between the three countries has deepened over time or been reduced as well as to demonstrate whether the integration mechanisms put forward by the CAEMC
have led to the levelling of standards of living between these countries.
These countries share a common currency, the CFA franc, where CFA, stands for Communaute Financiere Africaine in the WAEMU and for Cooperation Financiare en Afrique Centrale in the CAEMC