The Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) is the central bank for the eight member countries of the West African Economic and Monetary Union (WAEMU). Established in 1959, its primary role is to ensure monetary stability and manage the currency, the CFA franc, which is used by these nations. The BCEAO also oversees banking regulations and promotes economic development in the region. Headquartered in Dakar, Senegal, the BCEAO plays a crucial role in coordinating economic policies among its member states, which include Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. By maintaining price stability and fostering financial inclusion, the BCEAO aims to support sustainable economic growth in West Africa.