ECOWAS targets 2027 launch for ECO single currency

The Economic Community of West African States (ECOWAS) is maintaining its target to launch a single regional currency, known as the ECO, by 2027. During the 14th Session of the Convergence Council held via videoconference on September 7, 2026, member states reviewed economic performance and progress toward meeting necessary macroeconomic convergence criteria.

The Council evaluated reports from the 68th Meeting of the Committee of Governors of ECOWAS central banks and technical sessions involving the West African Monetary Agency (WAMA). While assessing the economic status of member states, the Council determined that the 2027 launch remains achievable despite the need for further economic convergence across the region.

To expedite the transition from policy commitment to practical implementation, the Convergence Council has ordered the ECOWAS Commission to immediately convene a meeting of the Presidents’ Task Force. This group is tasked with accelerating the process and finalizing the decisions required to establish the common monetary system.