ECOWAS reaffirms launch of ECO in 2027 July 21, 2026

Meeting in Lungi, Sierra Leone, ECOWAS Heads of State and Government reaffirmed their commitment to launching the single currency, the ECO, in 2027. In the final communiqué sanctioning the work of their 69th ordinary session, they announced that the process will begin with countries meeting the convergence criteria, while providing support for States which are not yet ready.

The Economic Community of West African States (ECOWAS) remains focused on putting its single currency into circulation. The regional organization “reiterated its strong commitment to the launch of the ECO in 2027, as an essential instrument to deepen regional economic integration and promote sustainable, resilient and inclusive growth within the Community”.

According to the press release, the launch of the single currency “will begin with countries that meet the defined convergence criteria and are ready to take part”. The Conference also specifies that “appropriate support will be provided to countries which are not yet ready, in order to facilitate their subsequent accession to the single currency”.

The Heads of State also welcomed the high-level consultations initiated between the ECOWAS Commission and the governors of the central banks in order to reach a consensus on the issues still outstanding before the introduction of the ECO. They also welcomed “the registration of the “ECO” brand with the African Intellectual Property Organization (OAPI)”.

In this dynamic, the Conference approved Guinea’s request to join the Presidential Task Force on the Single Currency Program and instructed the Commission to convene a meeting of this body before the ordinary summit in December 2026. It also asks it, in collaboration with the West African Monetary Agency (AMAO), to intensify consultations with the central banks of the Member States in order to remove the last obstacles to the project.

YEAR