ECOWAS Reaffirms Plan to Launch ECO Currency by 2027

The Economic Community of West African States reaffirmed its commitment to launch a single regional currency, the ECO, by 2027 during the 69th Ordinary Session of the Authority of Heads of State and Government in Sierra Leone. Chaired by President Julius Maada Bio, the summit established a phased rollout plan where member states that meet macroeconomic convergence criteria for inflation and debt will be the first to adopt the currency.

To protect the brand, the bloc has registered the name ECO with the African Intellectual Property Organisation and is seeking further international trademark protections. Despite this progress, the union must still determine decision-making rules and the structure of a future central bank. Integration challenges remain, specifically regarding the transition of countries using the CFA franc and the recent departures of Burkina Faso, Mali, and Niger from the bloc.

Beyond monetary policy, the summit endorsed a roadmap for the ECOWAS Counterterrorism Brigade to achieve full operational capability by July 2027. Leaders also extended the mandate of Chief Negotiator Dr. Lansana Kouyaté until December 2026 to lead diplomatic efforts with Burkina Faso, Mali, and Niger. Additionally, the bloc commended Nigerian President Bola Ahmed Tinubu for his efforts to combat kidnapping and banditry.