West Africa is set to introduce the ECO single currency next year
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The coexistence, during a transitional period, of several currencies in the area of the Economic Community of West African States (ECOWAS) should not prevent the development of trade between member countries. This is the analysis put forward by the Senegalese economist Serigne Momar Seck in an interview given to the Senegalese News Agency (APS) on the process of monetary integration in the subregion.
After several postponements, the Economic Community of West African States (ECOWAS) intends to relaunch its ambitious single currency project. Meeting on 19 July in Freetown, Sierra Leone, on the occasion of the 69th ordinary session of the Conference of Heads of State and Government, the West African leaders reaffirmed their commitment to launch the ECO from 2027. This time, the approach is to be gradual. Countries that meet the macroeconomic c…
Following the ordinary ECOWAS summit held on 19 July 2026 in Freetown, expectations were growing on the issue of the new currency, according to which the West African organization had taken the launch of the ECO by 2027, de facto resulting in the disappearance of the CFA franc and the establishment of a strict parity between the euro and the new currency, set at 655 units.
West Africa is set to introduce the ECO single currency next year
Sierra Leone Telegraph: 02 August 2026: The Authority reiterates its firm commitment to the launch of the ECO in 2027 as a key instrument for deepening regional economic integration and promoting sustainable, inclusive and resilient growth within the Community. In this regard, the Authority resolved that the launch of the ECO shall commence with those countries that meet the established convergence criteria and are ready to participate.
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