France retreats from Africa?

In LRB Stephen Smith writes about France's slow withdrawal from its erstwhile colonies:

It’s hard to date the death of Françafrique precisely: the exquisite corpse still haunts many minds, and ghost stories are a lucrative business. Even so, three events in 1994 adumbrated the end: the (unprecedented) devaluation of the CFA franc and with it the crumbling of the monetary wall around the Franco-African enclave economy; the genocide in Rwanda, which left blood on the hands of Africa’s gendarme (having failed to understand a country outside its historical zone of influence, France had thrown its weight behind ‘Hutu power’); and finally, the state funeral of the Ivorian president, Félix Houphouët-Boigny, the sub-Saharan godfather of Françafrique and an enthusiast of the ‘Franco-African state’ – indeed, it was Houphouët who coined the term at a party congress in 1973.