The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launching the long-awaited single regional currency, the ECO, in 2027, with plans for a phased implementation. Under the proposed approach, only member states that meet key economic convergence criteria, including targets for inflation, public debt and monetary stability, will participate in the initial rollout.
The decision was announced in a communiqué following the ECOWAS Heads of State meeting in Sierra Leone. The bloc said the ECO is expected to strengthen regional integration and promote sustainable and inclusive economic growth across West Africa.
Despite the renewed commitment, several issues remain unresolved, including the participation of countries in the West African Economic and Monetary Union (UEMOA), the structure of the future central bank and governance arrangements. ECOWAS said consultations are ongoing, with a key Task Force meeting expected ahead of the bloc’s December 2026 summit to address the outstanding issues.