While the West African Economic and Monetary Union (WAEMU) countries adhere to the roadmap keeping the CFA franc in use until 2027, a growing current within the Economic Community of West African States (ECOWAS) is pushing for the introduction of the “Eco” under a multi-speed approach. This divergence reflects contrasting views between countries prioritizing monetary stability in the short term and others believing that repeated delays sap the project of its political momentum.
Countries such as Nigeria, Ghana, Sierra Leone, Liberia, Guinea, and Gambia consider that launching an initial core of the unified currency could represent a practical step toward broader monetary sovereignty, rather than waiting for comprehensive consensus that could take years.
Yet this path raises a critical question: will the “Eco” lead to a flexible, gradual integration, or will it create a new monetary divide within West Africa?
