The BCEAO, or Central Bank of West African States, is the central bank for the eight member countries of the West African Economic and Monetary Union (WAEMU). Established in 1962, its primary role is to manage the common currency, the CFA franc, and to ensure monetary stability in the region. The BCEAO also oversees banking regulations, promotes financial inclusion, and supports economic development in its member states, which include Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. By coordinating monetary policy, the BCEAO aims to foster economic growth and stability across these nations.