ECO currency project faces criticism as 2027 deadline approaches for Sahel states
via Lefaso.net3 min read
Economists and observers criticize the ECO currency project, stating that a name change does not alter its structural continuity, particularly regarding France's continued financial guarantees. Initially conceived as a common currency for all fifteen ECOWAS countries, the ECO project was influenced by the West African Economic and Monetary Union UEMOA and France. This led to a reform of the CFA franc, creating what analysts call a "franc zone 2.0," which solidified French financial influence before Anglophone countries, led by Nigeria, could implement their vision for a truly common currency free from colonial ties. This move drew strong reactions from West African Monetary Zone WAMZ members, who denounced it as a unilateral initiative inconsistent with the region's original plan. For the AES countries, the 2027 deadline is critical. Having opted for full sovereignty and broken ties with France militarily and diplomatically, they find it inconceivable to remain in a system that perpetuates Paris's economic influence. Adopting the ECO would mean endorsing a disguised mechanism of dependence, hindering their goal of breaking free from neocolonial constraints. This situation places the finance ministries of the three AES countries before a historic responsibility: to urgently prepare the framework for their own sovereign currency, embodying the desired break. The 2027 horizon demands accelerated reforms, as the regional dynamic is now bipolar, with ECOWAS aligned with the ECO an
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Ouagadougou will host the 8th Congress of the West African Physics Society from July 29 to August 1, where participants will discuss advancements in physics research. The congress will feature scientific presentations, panels, roundtables, and exhibitions focusing on physics applications in energy, agriculture, water, health, industry, artificial intelligence, and innovative technologies. Organizers aim to highlight physics' contribution to solving socio-economic challenges in African countries, viewing it as crucial for strengthening the continent's scientific and technological sovereignty. Professor Billa G茅rard Segda, president of the organizing committee, emphasized the congress's focus on development and the need to connect scientific research with societal concerns. He stated that physics should not be confined to laboratories but should address practical problems such as accessible energy, productive and sustainable agriculture, product conservation and transformation, industrialization, healthcare, and digital transformation, while also creating opportunities for youth. The congress theme is "Supporting access to energy, sustainable agriculture, and food security through applied physics." Professor Segda stressed that energy is vital for sustainable industrialization and transforming agricultural products, while addressing agricultural challenges like increased production, better water management, reduced post-harvest losses, improved conservation, and local processin
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The Central Bank of West African States BCEAO concluded a two-day seminar for economic journalists from the West African Monetary Union UMOA in Dakar on August 21, 2026. The seminar focused on major economic, monetary, and financial issues within the community, with the BCEAO reaffirming its commitment to strengthening ties with media professionals to foster a better understanding of policies and reforms. Habib Thiam, Secretary General of the BCEAO, praised the participation and relevance of discussions, noting the seminar deepened understanding of the BCEAO's missions, instruments, and strategic priorities amid a changing global economic landscape. Topics included monetary policy, financial stability, economic financing, financial inclusion, digital financial services, and payment system changes. Thiam emphasized the media's crucial role in providing reliable, rigorous, and contextualized information, making complex economic issues accessible to the public and preventing misinformation. Dominique Mabika, a journalist from Financial Afrik in Senegal, thanked the BCEAO for the initiative, highlighting how it enhanced journalists' knowledge of technical subjects and allowed direct engagement with policymakers. She stressed the responsibility of participants to act as relays for citizens, explaining mechanisms like the PI-SPI platform and BCEAO actions. The BCEAO aims for this seminar to be the start of a more regular dialogue with economic journalists, recognizing the increasin