#Cameroon: English separatists Launch their own currency

9

Increasingly determined and bold separatists seeking the international recognition of the self-proclaimed “Federal Republic of Ambazonia” (Southern Cameroons) have created a crypto-currency which they claim is the first to be fully nation-backed.

Known as AmbaCoin, 20,082 of the Ambazonian crypto bond had already been bought, out of 100,000,000 on pre-sale as of Nov. 10. One AmbaCoin sells for 25 cents (circa 140 CFA franc) and the main initial coin offering of the crypto-currency is scheduled for Dec. 24. It is said to be backed by the “rich natural resources” of the breakaway region.

Increasingly determined and bold separatists seeking the international recognition of the self-proclaimed “Federal Republic of Ambazonia” (Southern Cameroons) have created a crypto-currency which they claim is the first to be fully nation-backed.

Known as AmbaCoin, 20,082 of the Ambazonian crypto bond had already been bought, out of 100,000,000 on pre-sale as of Nov. 10. One AmbaCoin sells for 25 cents (circa 140 CFA franc) and the main initial coin offering of the crypto-currency is scheduled for Dec. 24. It is said to be backed by the “rich natural resources” of the breakaway region.

Sites administered by the English-speaking elite, including southern cameroon, talk about the creation of a virtual currency called Ambacoin in reference to the “Federal Republic of Ambazonia”, a state not recognized by the international community. According to these bodies, an AmbaCoin changes to 140 CFA francs ($ 0.28). The main initial cash offering is scheduled for December 24.

What crystallize the hopes at the level of “authorities” secessionist. “We are getting there,” Chris Anu, who is considered Secretary of State for Communication and Digital Affairs at Ambazonia, recently said.

The English-speaking separatists would like to break away from the CFA franc used by Cameroon, member of the Economic and Monetary Community of Central African States ( CEMAC ). For them, the CFA franc used in Central Africa and West Africa ( UEMOA ) is linked to the French National Treasury.

If English-speaking separatists are struggling so far to gain international recognition from their state, the strike of a purely “Ambazonian” currency could mark a new stage in the Anglophone crisis.

This crisis was born in November 2016, when Cameroonians from Western Anglophone areas started decrying, for example, the infrastructural deficit and the underrepresentativeness in the institutions.

The dialogues initiated by Yaoundé, the arrests of secession leaders, the military actions and the emergency humanitarian plan, let alone disarmament in the conflict zones , recently launched by the government are not enough to reduce the tension so far. .

And two years after its outbreak, the Anglophone crisis has already killed more than 85 people in the police force and killed more than 600 civilians. In addition, according to the UN, nearly 160,000 people have fled their homes as a result of the violence. The Nigerian Emergency Management Agency ( SEMA ) estimates that some 75,000 Cameroonians have taken refuge in Nigeria.

While hundreds have fled the region to other parts of the country or Nigeria, armed separatists continue to engage in deadly clashes with the military.

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More