With Francafrique, France maintained control over its former colonies, and by doing this they supported a lavish lifestyle for dictators, while the people lived in extreme poverty. Before long, France managed to support a war in Biafra, overthrow several presidents, collapse Guinea’s economy and bribe leaders to support its interests in oil and other resources (Al Jazeera 2013).
Eventually, African countries began to see the tides turn in their favor and started to turn the tables back on France. Gabon threatened to sign drilling contracts with the Americans when Elf (France's public oil company) temporarily closed its Port-Gentil wells. And Niger claimed that they would hand over control of Niger’s largest uranium mine to the Chinese if France refused to agree to an increase in the price of uranium (Al Jazeera 2013).
On a visit to Dakar (Senegal) in October of 2012, Hollande declared an end to Francafrique. Even though it is obvious that France's control over its former colonies has weakened, France still maintains power through much needed French investors, which allows for some networks to continue (Al Jazeera 2013).
Francafrique has already paid a heavy toll on the people of Africa, leaving thousands dead and millions with close to nothing. Though some of France's former colonies have realized how to take advantage of France, France is the one that's really getting the most out of the deal with vast deposits of oil and other valuable resources easily accessible to French companies. Hollande's statement in Dakar may be reassuring to some African countries, but the truth is that France is a global power that's getting a smaller slice of the global pie each year (Haski, P. 2013). France's once highly influential voice on global matters is now put behind those such as that of the US and China. France will try desperately to hang on to at least some of Africa to support itself on international matters. Because of this, France will never let go of Africa.
France and Mali By George Kripac