Portuguese arrived on the Cameroon coast in the 1470s. The Portuguese lost the slave trade to the Dutch in the 1600s and it was ended by the British in the 1840s who then colonized Cameroon. Cameroon was established as a German protectorate on July 14, 1884. The French and British began occupying Cameroon on February 20, 1916 and German Cameroon was divided into British Cameroon and French Cameroon on June 28, 1919. Most of the Cameroon became a French Mandate on July 10, 1922 under the League of Nations and on December 13, 1946 under the United Nations. French Cameroon was part of French Equatorial Africa, and it gained its independence as the Republic of Cameroon on January 1, 1960. On October 1, 1961, the northern part of British Cameroon united with Nigeria, and the southern part of British Cameroon united with the Republic of Cameroon (formerly French Cameroon).
German marks (DEP) circulated, and the Government of Kamerun issued emergency Cameroon Marks (CMDM) in 1914. The Mark was divisible into 100 Pfennige. British Pounds Sterling (GBP) circulated in British Cameroon along with banknotes issued by the West African Currency Board (XWAP) until northern British Cameroon joined Nigeria in 1961 and the Nigerian Pound (NGP) began to circulate.
The French Franc was introduced in French Cameroon in 1916. the first coins were minted for Cameroon in 1924 in Paris. French West Africa issued its own banknotes (XAOF) through the Banque de l'Afrique Occidentale. Banknotes and coins from the Banque de France (FRG) also were allowed to circulate in French West Africa, and all monies of Metropolitan France were given legal tender status in French West Africa on August 8, 1920. Some British coins and Maria Theresa Thalers also circulated until the 1920s. The Franc is divisible into 100 Centimes.
On December 2, 1941, French Equatorial Africa began issuing its own banknotes, first through the Caisse Centrale de la France Libre from 1941 until 1944, and through the Caisse Centrale de la France d'Outre-Mer from 1944 until 1957. On December 26, 1945, the Franc des Colonies Francaises d'Afrique (CFA Franc-XEF) was introduced, and the circulation of Banque de France banknotes was no longer tolerated. From 1957 until 1960, banknotes of the Banque de les Etats de l'Afrique Equatoriale et du Cameroon circulated in French Cameroons.
Upon gaining independence, the government of Cameroon issued its own banknotes through the Banque Centrale du Cameroun before rejoining the CFA Franc BCEAC area in 1962. Banque des Etats de l'Afrique Centrale banknotes issued in Cameroon had a "*" on them. On April 1, 1973, the BCEAC was replaced by the Banque des Etats de l'Afrique Central (BEAC). On August 2, 1993, Members of Banque des États de l'Afrique Centrale (BEAC) ceased redeeming CFA franc notes issued by BEAC circulating outside their borders, and On 17 December 1993, members of BCEAO suspended redemption of CFA franc notes issued by Banque des États de l'Afrique Centrale (BEAC) circulating in BCEAO countries. Initially, the name of each member country was placed on its own banknotes, but beginning in 1993, all banknotes are the same except for different letters placed on the banknotes for each country. Banknotes from Cameroon have the letter "E" on them to 2003 and "U" beginning in 2004. |
