The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to introducing a single regional currency, the ECO, by 2027 as part of efforts to strengthen economic integration across West Africa.
According to the regional bloc, the currency will be introduced in phases, with member states that meet key economic convergence criteria, including low inflation, sustainable debt levels and monetary stability, expected to join the first phase of implementation.
Despite the renewed commitment, several critical issues remain unresolved. These include determining which countries will participate in the initial rollout, the structure and operations of the proposed regional central bank, and whether the eight West African countries currently using the CFA franc will adopt the ECO from the outset.
ECOWAS are expected to hold further consultations ahead of the bloc’s summit scheduled for December 2026, where discussions on the implementation framework for the single currency are expected to continue.
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