Yes, it's true! West Africa plans to have a common currency for the seven nations: by 2015. Eventually, it intends to merge with the UEMOA states and have a single monetary zone in ECOWAS (Economic Community of West African States) by 2020. ECOWAS' leaders met today (Friday) in Dakar, Senegal for a summit, focusing on how to move the western region towards a single market and common market by 2020.

ECOWAS was established in 1975; it's made of 300 million people in eight French-speaking, five anglophone countries, and two Portuguese-speaking countries. Eight mostly French-speaking states (UEMOA) that make up the West African Economic and Monetary Union use the CFA franc that is already pegged to the Euro. The remaining countries, including English-speaking Nigeria - Africa's most populous nation with nearly 175 million people -- have their own currencies.

Macky Sall, Senegal President encouraged the other leaders of the group to "continue efforts to maintain peace and security in the region". The regional bloc is expected to consider contributing more troops to the UN mission in Mali (MINUSMA), eventually reaching 12,640 troops and police. In July, there were a little 6,000 but Nigerian and several Chadian troops withdrew since.
But ECOWAS made it clear before the start of the summit that the main focus is to clear the path towards monetary union across the region.

The leaders will discussed a series of recommendations on the creation of a single currency zone, the establishment of a single customs area within ECOWAS territory, and the signing off on deals to strengthen trade links with the European Union.

One of the key recommendations on the table is the establishment of common tariffs across the zone on imports from non-member countries.
Although, these plans all sound great on the table, I'm looking forward to seeing the implementation and success. Can West African countries really unite on a main economic issue that divides them easily?

Will Nigeria be an effective team player, given that it is the most populated country in Africa?

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