As the Economic Community of West African States (ECOWAS) celebrates its 50th anniversary, the regional body’s leadership has reiterated plans to launch a long-awaited single regional currency by 2027 — a move expected to boost trade and strengthen economic ties across West Africa.
Speaking at a commemorative event marking the golden jubilee, the President of the ECOWAS Commission described the milestone as a vital moment for reflection and recommitment to the region’s integration goals.
“Fifty years is a significant period. It has taught us valuable lessons, and those lessons must now guide our efforts to build a stronger, more united community,” he said.
Single Currency Plans Back on Track
The introduction of a single West African currency — a flagship project of ECOWAS — has faced repeated delays, largely due to global economic disruptions, including the COVID-19 pandemic. However, the ECOWAS chief confirmed that member states remain determined to meet the necessary economic convergence criteria by 2027.
“Our leaders have reaffirmed their commitment. Member states are actively working towards achieving the set conditions,” he noted. “This currency will remove trade barriers and open new opportunities for intra-African commerce.”
The proposed single currency is expected to simplify cross-border trade, enhance monetary stability, and position West Africa as a more competitive economic bloc on the continent.
Dialogue Continues Amid Regional Tensions
On the contentious issue of Mali, Burkina Faso, and Niger’s announced withdrawal from ECOWAS, the President revealed that recent meetings with the countries’ foreign ministers indicated a shared interest in maintaining cooperation.
“It became clear during our dialogue that there is still a collective ambition to work together as a West African community,” he said. “Our focus remains on preserving the benefits of integration — including free movement, trade, and regional peace.”
Despite concerns about potential fragmentation, ECOWAS has reaffirmed its commitment to diplomacy, regional stability, and economic transformation, downplaying fears of additional member exits.
“Rather than watching the bloc weaken, we are determined to rebuild, strengthen, and possibly reshape it for the better,” the President added.
A Vision for West Africa’s Next 50 Years
As ECOWAS steps into its next half-century, the organization’s leadership has made it clear that unity, cooperation, and economic growth will remain central to its vision for a resilient and prosperous West Africa.