ECOWAS Leaders Reaffirm 2027 Launch for ‘ECO’ Single Currency at Freetown Summit

West African leaders have once again reaffirmed their commitment to launching a unified regional currency, the “ECO,” by 2027. Meeting at the 69th Ordinary Session of the ECOWAS Summit in Freetown, the Heads of State agreed that the launch will proceed under a phased approach. Only member states that meet strict macroeconomic benchmarks—including keeping inflation under ten percent and budget deficits below three percent of GDP—will adopt the currency initially, with Sierra Leone, Nigeria, Ghana, Liberia, Guinea, and The Gambia slated for the first wave.
To ensure regional readiness, the ECOWAS Commission has been instructed to work closely with central bank governors to resolve outstanding governance and institutional hurdles. Progress has already been made on the international stage, with the name “ECO” successfully registered with the African Intellectual Property Organisation. Additionally, Guinea has officially joined the Presidential Task Force overseeing the transition, which is set to convene its expanded committee ahead of the next major summit in December 2026.