Situated
on the West Coast of Africa at approximately 13ºW and 10ºN is the Guinea
Republic - a country sometimes called
Guinea-Conakry to distinguish it from its neighbour Guinea-Bissau. Once a part
of the great Mali Empire, this wet and fertile region eventually succumbed to
French colonial expansionism and became a part of French West Africa. In the
late 1890’s and early 1900’s, France negotiated the present day boundaries of
Guinea with England and Portugal, who controlled the surrounding areas, which
eventually became Sierra Leone, the Guinea-Bissau and Liberia. After World War
II, several labor parties were established, including
the Parti Democratique de Guinee led by Ahmed Sekou Toure. Aided by reforms
within the French administration, Toure’s growing popularity and
political savvy gave rise to a new sense of nationalism among many Guineans. In 1958, the PDG party organized support to vote against de
Gaulle’s proposed French community and then declared independence in September.
France viewed this secession as a highly unfavorable event and promptly cut all
financial aid and other assistance programs immediately after the independence
of Guinea. Shunned by other Western nations, Guinea began a slow process of
political evolution in relative isolation. A probable comparison could be made
to the isolationist policies of 19th century Albania under Enver
Hoxha, as Guinea under the Toure government refused any assistance from abroad
under “a determined to go it alone philosophy”. Sekou Toure governed a
one-party state and progressively developed strong dictatorial tendencies. He
survived several attempted coups and continued to rule Guinea until his death
in 1984.
Shortly after the pronouncement of the new Guinea
Republic, a new series of banknotes was introduced. The currency introduced was
the Guinean Franc. The Banque Centrale Republique de Guinee, or BCRG, was
established in March of 1960 to facilitate the new economic realities. The banknotes
depicted the image of Sekou Toure on the obverse with different cultural and
economic scenes on the reverse. The banknotes were artistically impressive,
both by design and size. Denominations issued were 50, 100, 500, 1000, 5000 and
10000 Guinean francs. The obverse of each banknote had the date of independence
noted, 2 October 1958, and were issued into circulation on March 1, 1960. They
remained in circulation until a new series was introduced in March 1963.
The first series of these impressive banknotes were
designed and printed in Prague by Statni Tiskarna Cenin (STC Praha), the state
printing works of Czechoslovakia. I believe STC Praha was at it’s peak of
banknote design and lithographic printing in early 1960 – other similar STC
workmanship could be seen on the first issue of banknotes from Mali and the
banknotes of Castro’s Cuba from 1961 to 1990. These lithographed banknotes
lacked any security features and were at risk of counterfeit and it was for
this very reason that a new issue was introduced three years later in 1963.
This time the printer was Thomas De La Rue, and the banknotes included more
colors, engraved embossing, and security features which would have made
counterfeit more difficult. The Guinean Franc replaced the CFA franc on March
1, 1960 at the official exchange rate was 247 Guinean francs to 1 US dollar.
This official exchange rate remained until October 2, 1972 when the franc was
replaced with the Guinean Syli. The new exchange rate was 22.7 Guinean sylis to
one US dollar.
Typically, the first and second series of Guinean
banknotes usually have some browning or yellowing visible in the fabric of the
note. This discoloration is sometimes referred to as ‘foxing’ or ‘tropical
discoloration’. Understandably, this condition is most prevalent in wet
tropical climates. One of the wettest cities on the planet, Conakry averages
170 inches rainfall per year. The tropical climate with all the moisture in the
air permeates everything and this especially includes paper and fabric. This
ambient moisture will discolor the bleached linen and cotton fibers over time
leaving the banknote looking stained which adds to the difficulty in finding
these banknotes in pristine uncirculated condition. The 500, 5000 and 10000
francs notes from the first series are especially difficult to find in true
uncirculated condition, which makes them very rare.
Signatories on the first series of banknotes were
the finance minister Alioune Drame and the minister of the economy, Louis
Lansana Beavogui.
Alioune Drame, a tax inspector, served under Sekou
Toure as minister of finance, minister of planning, ambassador to the Ivory
Coast and as an inspector of administrative affairs. Arrested in Conakry in
1976 at 55 years, Drame presumably died in detention without a trial.
Louis Lansana Beavogui, in 1956 along with Sekou
Toure was elected to the French National Assembly from Guinea. Upon
independence he was made minister for economic affairs and planning. Beavogui
became prime minister in 1972 and served as an interim president in 1984.
Signatories on the second series of banknotes were
the director general Ousmane Balde and the minister Moussa Diakite.
Ousmane Balde was an economist and the president of
the BCRG and a long time minister of finance. He was arrested in December
1970 and charged with participation in
the Portugese invasion. Balde was sentenced without trial and hanged on January
25, 1971.
Moussa Diakite served as minister of banking,
security and internal affairs, finance and housing. Diakite was arrested April
3, 1984, one week after Toure’s death, and executed in Kindia in July 1985.
The 1960 issue of 50 Guinean francs – brown/violet
on dull green underprint. Reverse is a unique tribal bronze mask. 4.625 inches
by 3 inches.
The 1960 issue of 100 Guinean francs – lilac/plum
on green underprint. Reverse is lilac in color and has an image of a Peul woman
with an ornate coiffure carrying a baby. Village huts are in the background.
5.25 inches by 3.25 inches.
The 1960 issue of 500 Guinean francs – red/orange
on light blue underprint. Reverse is red in color and has a great image of a
pineapple plantation. 5.5 inches by 3.5 inches.
The 1960 issue of 1000 Guinean francs – blue on
peach and green underprint. Reverse is blue with a man looking at a shoreline
with boats. 7.5 inches by 4 inches.
The 1960 issue of 5000 Guinean francs – green on
orange/pink underprint. Reverse is green and depicts a group of men working in
a banana plantation. 8.375 inches by 4.625 inches.
The 1960 issue of 10000 Guinean francs – brown with
light orange and green underprint. Reverse is brown and shows a scene of open
pit bauxite mining in the Fria region. 9 inches by 5 inches.
The 1963 issue of 50 Guinean francs – brown with
pink and blue underprint. Reverse is brown on blue underprint and shows a scene
of open pit bauxite mining.
The 1963 issue of 100 Guinean francs – brown/violet
with green and yellow underprint. Reverse is brown on orange underprint and
shows a scene of a pineapple field.
The 1963 issue of 500 Guinean francs – blue with peach
and green underprint. Reverse is blue and shows a scene of a boats and
shoreline.
The 1963 issue of 1000 Guinean francs – green with
light pink underprint. Reverse is green and shows a scene of pineapple
harvesting.
An unissued specimen of 5000 Guinean francs,
probably printed in the late 1960’s during inflationary times – purple with green underprint. Reverse is
purple and shows a Peul woman with coiffure.
Today, Conakry has a population of well over 1
million, and about 70% of Guinea's eight million or so population consists of
Malinke, Fula and Susu. The official language is French, but many other African
languages like Malinhe, Fula etc. are also spoken. Guinea, one of West Africa’s
richest and ecologically intact areas with huge stores of bauxite,
diamonds, gold, and ample water, is still developing
and adjusting in what can be called the post-Toure regime.