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Western African Group to Launch New Currency

The Economic Community of West African States, or Ecowas, will launch its new currency called ‘eco’ in 2027.

The decision was made by the leaders of the 15 member states at a meeting in Ghana .

“This roadmap is accompanied by a new convergence pact that will cover the period between 2022-2026, and 2027 will be the year of the launch of eco,” Jean-Claude Kassi Brou, Ecowas Commission president, said.

The idea of a single currency is to help accelerate economic growth through key sectors such as trade exchange, capital transfer, and the movement of goods and materials within the region and the world.

Benin, Burkina Faso, Cape Verde, Ivory Coast, Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sierra Leone, Senegal and Togo make up the regional bloc.

Source : Marketwatch

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