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The 15-member states of West Africa have announced plans to launch a single bloc currency called the “Eco” come 2027. Apparently, the currency was supposed to launch this year but the pandemic pushed the launch date forward.
The single currency is expected to boost cross-border trade and economic development across its member state.
Due to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021. – Jean-Claude Kassi Brou, President of the ECOWAS Commission
We have a new road map and a new convergence pact that will cover the period between 2022-2026, and 2027 being the launch of the eco,” Jean-Claude Kassi Brou, President of the ECOWAS Commission