Mali dismisses reports of new three-state Sahel currency as fake

Social media posts from pro-AES accounts in recent days have said the launch of a new AES currency will happen soon

Mali said on Tuesday reports about the imminent launch of a currency for three military-led countries in West Africa's Sahel region were fake.

Abandoning the eight-member West African monetary union and adopting a new currency would further isolate Mali, Niger and Burkina Faso, who last year finalised their break with the West African political and economic bloc ECOWAS to create a new bloc known as the Alliance of Sahel States (AES).

The West African Economic and Monetary Union uses a common currency, the CFA franc, pegged to the euro.

Niger's military leader, General Abdourahamane Tiani, said in 2023 that the three countries were eyeing a monetary alliance, though their governments have not given a timeline or details about the project.

Social media posts from pro-AES accounts in recent days have said the launch of a new AES currency would happen soon.

But in a statement on Tuesday, Mali's economy and finance ministry said the posts and related reports in local media outlets relied on a "fake" statement.

"No communication has been issued by the Ministry of Economy and Finance announcing the upcoming introduction of a common currency or the finalization of an operational timeline to that effect," it said.

"The Ministry of Economy and Finance therefore invites the media and the public to rely exclusively on official institutional channels for any information relating to decisions made by the member states of the AES."