INTERNATIONAL POLITICS

ECOWAS Seeks Gambia’s Backing To Resolve ECO Currency Delays

by admin on | 2026-10-21 11:33:16

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 5

By Muhammad Bala Imam

The Economic Community of West African States, ECOWAS has concluded a series of strategic engagements with Gambian authorities on regional integration, enhanced cross-border trade, strengthened food security, and preparations for the planned launch of the ECO single currency in 2027.

The ECOWAS Commissioner for Economic Affairs and Agriculture, Mr Dehpue Zuo, held engagements on the sidelines of the international conference of the ECOWAS Regional Competition Authority in Banjul, The Gambia, the discussions involved the Gambian Minister of Finance, the Governor of the Central Bank of The Gambia, Mr Buah Saidy and the Minister of Trade, Industry, Regional Integration and Employment.

Mr Zuo emphasised the “urgency of eliminating non-tariff trade barriers, improving border security, and facilitating the unhindered movement of citizens and goods”.

ON MONETARY UNION

The discussions focused on resolving governance bottlenecks delaying the ECO currency, including pending decisions on the institution’s headquarters, leadership structure, fund management, position allocations among member states and building consensus ahead of the planned launch in 2027.

The ECOWAS Commissioner for Economic Affairs and Agriculture sought “the Gambian leadership’s support in resolving outstanding issues affecting the planned introduction of the ECO currency”.

Speaking on regional food vulnerability, Commissioner Zuo and Gambian officials highlighted that 50 to 60 per cent of food consumed within the bloc is currently imported.

To reverse this dependency, the Commission outlined “plans to secure farmland for smallholder producers and mobilise agricultural credit through the ECOWAS Bank for Investment and Development, alongside supplemental funding requests to the World Bank, African Development Bank, and Arab Bank”.

In the meetings with the Minister of Trade, Mr Zuo advocated for data-driven trade policies and discussed infrastructure for the ERCA headquarters in The Gambia. This followed confirmation that the Gambian government has allocated land and completed facility designs.

These engagements reflect the ECOWAS Commission’s ongoing regional consultations to consolidate Community priorities ahead of key 2027 milestones.