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ECOWAS set to unveil single currency ECO

Finance Ministers and Central Bank Governors from the 15 Economic Community of West African States have advanced plans to launch the single currency initiative, known as the ECO.

This initiative envisioned to propel economic growth and development throughout the West African sub-region, received Nigeria’s endorsement.

The single currency is part of the features in the three-in-one Identity cards planned by the National Identity Management Commission and set for roll-out by August.

A statement from the Ministry of Finance signed by the Director Of Press, Mohammed Manga, on Friday, said Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, noted the critical role the ECO will play in fostering “economic growth and development in the region,” further emphasising Nigeria’s unwavering commitment to its successful implementation.

The meeting marks a significant milestone on the path towards realising this ambitious goal.

The statement noted that participants went through the preparations for the single currency’s introduction, laying the groundwork for a more integrated economic future for the fifteen ECOWAS member states.

“The vision for the ECO extends beyond a mere currency. It aspires to become a cornerstone of economic integration, streamlining trade and bolstering monetary stability across the region.”

This week’s gathering brought together key players instrumental in making this vision a reality including the Minister of Finance of Cape Verde, Mr. Olavo Correia, the Minister of Finance and Economic Affairs of Cote d’Ivoire, Mr. Adama Coulibaly, and the Ghanaian Minister of Finance, Mr. Mohammed Amin Adam amongst other representatives.

These figures, along with others, formed a collaborative force dedicated to shaping the future of West African economics.

According to the statement, “The meeting culminated in a renewed sense of purpose surrounding the ECO’s introduction. Participants emerged with a shared belief that the single currency holds immense potential to reshape the economic landscape of the region, paving the way for a more prosperous future for all member states”.

Source: punchng.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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