The Economic Community of West African States (ECOWAS) has officially confirmed its plan to introduce the ECO, a unified regional currency, by 2027. This initiative, announced during the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Lungi, Sierra Leone, aims to bolster economic integration and regional growth. Chaired by President Julius Maada Bio, the summit highlighted that regional economies are showing resilience, with positive growth indicators expected by 2026.
The currency will initially launch with members who satisfy specific convergence criteria, while others will be offered support to join later. To protect the brand, the ECO has already been registered with the African Intellectual Property Organisation, with further international filings underway.
Security also featured prominently, with the bloc finalizing plans for a counterterrorism brigade set for full operation by July 2027. Member states were urged to contribute funding for this force. The leaders condemned ongoing violence, including kidnappings in Northern Nigeria, while praising President Bola Ahmed Tinubu’s efforts to protect citizens. Furthermore, the council reaffirmed its commitment to the free movement of people and discussed strategies to improve food security through regional agricultural agendas.
Regarding the Alliance of Sahel States, the bloc confirmed that talks with Burkina Faso, Mali, and Niger will proceed exclusively as a collective unit. Additionally, the summit addressed regional aviation costs, calling for tax reforms, and urged South Africa to take firmer action against xenophobic attacks targeting West Africans.
