ECOWAS Reaffirms Launch Of Single ECO Currency In 2027

The Economic Community of West African States has reaffirmed its commitment to launching the long-awaited single regional currency, the ECO, in 2027, describing it as a major step towards deeper economic integration, stronger regional trade and sustainable growth across West Africa.

The decision was one of the key resolutions reached at the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government held in Lungi, Sierra Leone, on Sunday.

In a communiqué issued on Tuesday, the regional bloc said member states remained committed to implementing the ECO despite global economic challenges, noting that the regional economy is expected to improve in 2026 with declining inflation, lower public debt-to-GDP ratios and a widening current account surplus.

The Authority stated that the ECO would initially be adopted by member states that meet the agreed macroeconomic convergence criteria, while countries yet to qualify would receive support to join the monetary union later.

“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,” the communiqué read.

ECOWAS also welcomed the registration of the name “ECO” with the African Intellectual Property Organization and directed the Commission to secure trademark protection with other regional and international intellectual property bodies.

On security, the Authority expressed concern over worsening insecurity in the Sahel and Lake Chad Basin, condemning attacks by terrorist groups and approving a revised roadmap for the activation of the ECOWAS Counterterrorism Brigade, which is expected to become fully operational by July 2027.

The bloc urged member states to clear outstanding Community Levy arrears to support funding for the regional counterterrorism force.

It also strongly condemned the growing cases of banditry, kidnappings and abductions of schoolchildren, particularly in northern Nigeria, while expressing solidarity with Nigeria and commending President Bola Tinubu for efforts to secure the release of victims and combat insecurity.

The leaders further raised concerns over the humanitarian impact of conflict, terrorism, displacement, climate-related disasters and food insecurity, directing the ECOWAS Commission to strengthen humanitarian coordination and resource mobilisation.

On relations with the Alliance of Sahel States, ECOWAS extended the mandate of its Chief Negotiator, Dr. Lansana Kouyaté, until December 2026 and reaffirmed that negotiations with Burkina Faso, Mali and Niger would continue only on a collective basis.

The Authority also highlighted concerns over food insecurity and rising fertilizer prices, calling for accelerated implementation of the ECOWAS Rice Agenda and Regional Rice Roadmap to boost food production and reduce import dependence.

Reaffirming its commitment to the ECOWAS Protocol on Free Movement of Persons, the regional bloc stressed the importance of preserving cross-border mobility, facilitating trade and strengthening regional economic cooperation.

ECOWAS also condemned continued xenophobic attacks against Africans in South Africa, particularly West Africans, and urged South African authorities to ensure the protection of foreign nationals while supporting Ghana’s proposal to table the issue before the African Union Assembly.

On trade and infrastructure, the Authority warned against increasing bilateral trade agreements by individual member states that could undermine the ECOWAS Customs Union. It directed the Commission to develop investment-ready projects in transport, energy, digital connectivity and water infrastructure to attract financing.

The leaders welcomed the signing of the Inter-Governmental Agreement on the African Atlantic Gas Pipeline, describing it as a strategic project that would strengthen energy security, industrialization and regional integration. They also commended cooperation between ECOWAS member states and Morocco on the project.

The summit further endorsed new regional instruments on cybersecurity, data protection, digital governance, electronic communications and open data, alongside the establishment of a Regional Cybersecurity Coordination Mechanism.

The Authority also adopted a Presidential Declaration on Advancing Gender Parity in Political Representation and encouraged member states to implement measures that would increase women’s participation in governance and public decision-making.

The summit concluded with the endorsement of key appointments, including General Birame Diop of Senegal as President of the ECOWAS Commission for the 2026–2030 term. Senegalese President Bassirou Diomaye Faye was also elected Chairman of the ECOWAS Authority of Heads of State and Government for a one-year tenure.