ECOWAS Advances Plan For Single West African Currency

The Economic Community of West African States (ECOWAS) has reaffirmed plans to introduce its long-awaited single currency, the ECO, in 2027, with a phased rollout for member states that meet key economic benchmarks.

The decision was announced in a communiqué issued after the bloc’s Heads of State meeting in Sierra Leone, where leaders agreed that only countries meeting convergence criteria—including inflation, debt levels and monetary stability—would join the first phase.

ECOWAS said the ECO is intended to strengthen regional integration and promote sustainable economic growth, adding that the legal registration of the currency’s trademark has been completed.

However, critical issues remain unresolved, including the structure of the proposed central bank, decision-making procedures and whether countries in the West African Economic and Monetary Union (UEMOA), which use the CFA franc, will participate from the outset.

The bloc also noted that the planned launch must take into account the region’s changing political landscape following the exit of Burkina Faso, Mali and Niger from ECOWAS. Further consultations are expected ahead of a key task force meeting before the bloc’s December 2026 summit.