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President Akufo-Addo has reiterated the urgency of the implementation of a single currency for ECOWAS .

President Akufo-Addo is optimistic that the single currency will serve as a means of positively transforming the economic systems in the ECOWAS region.

he President, speaking at the 5th meeting of the presidential taskforce on the ECOWAS single currency programme, explained that the implementation of the single currency programme will ensure the removal of economic barriers, improve trade among members.
He further noted that it is necessary for Africa to transform the structure of its economy since the economies of most African countries were shaped to favour colonial masters.

President Akufo Addo urged the presidential task force, comprising of Heads of States from Republic of Niger, H.E Issoufou Mahamadou, Republic of Cote d’Ivoire, H.E. Alhassane Ouattara, Federal Republic of Nigeria, H.E Muhammadu Buhari, as well as the Governors of Central Banks and foreign Ministers from the ECOWAS, to give a presidential assent to the implementation of the roadmap for the ECOWAS single currency programme.

The Presidential Task-force meeting will be preceded by two meetings namely: The 6th Technical Meeting of the Presidential Task Force and the 2nd Ministerial Meeting of the Presidential Task Force.”
Representatives of the Ministries of Finance and Economy of Cote d’Ivoire and Ghana, Niger and Nigeria, Central Banks of ECOWAS Members State and the regional institutions involved in the ECOWAS Monetary Cooperation Programme (EMCP), namely the ECOWAS Commission, UEMOA Commission, West African Monetary Agency (WAMA), West African Monetary Institution (WAMI) BCEAO and the United Nations Economic Commission for Africa (UNECA), will be in attendance for the Technical Meetings.

The meeting will provide a platform to deliberate on issues related to the ECOWAS single currency Program and review strategies to accelerate the single currency by 2020.

The single Currency program is in line with the vision of ECOWAS to transform the sub-region into an economic and monetary union.

“ECOWAS was founded with the aim of transforming the sub-region into an economic and monetary union. This led to the adoption of the Community Authority of the ECOWAS Monetary Cooperation Programme (EMCP) in July 1987.”