Economic Community of West Africa

The purposes of the subject “Economic Community of West African States (ECOWAS)” are the following:

1. To understand the goals, functions, and the affiliated institutions of the Economic Community of West African States
2. To assess the benefits for the member countries of the ECOWAS and the areas of cooperation
3. To know the socio-economic development of the West African region
4. To analyze the economic and trade integration process among the ECOWAS member countries
5. To understand the free-trade area and customs union of the Economic Community of the West African States (ECOWAS)
6. To explore the Trade Facilitation and Liberalization in the ECOWAS economic space
7. To analyze the role of the ECOWAS affiliated institutions: IMAO, ECOBANK, and BOAD

The Subject “Economic Community of West African States (ECOWAS)” belongs to the following Online Programs taught by EENI Global Business School:

Business in West Africa.

Masters: Business in Africa, International Business, Foreign Trade.

Doctorate: African Business, Islamic Business, World Trade.

Languages: or Communauté Économique des États Afrique de l’Ouest CEDEAO Comunidade Económica Estados África Ocidental Comunidad Económica de Estados del África Occidental.

1. Credits of the Subject “Economic Community of West African States (ECOWAS)”: 2
2. Duration: two weeks

Area of Knowledge: Africa.

Economic Community of West African States (ECOWAS).

The Economic Community of West African States (ECOWAS CEDEAO) is a regional African trade bloc founded in 1975.

The members of the Economic Community of West African States are Benin, Burkina Faso, Cape Verde, Ivory Coast, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo.

In 2017, Morocco applied to the ECOWAS.

The mission of the ECOWAS is to promote the economic integration in industry, international transport, telecommunications, energy, agriculture, natural resources, international trade, monetary and financial, social, and cultural themes.

1. The ECOWAS member economies occupy an area of 1.5 million km² (17% of the total area of Africa)
2. The West African Countries with the biggest land mass are Niger (25%) and Mali (24); the smallest nation is Cape Verde
3. The population of West Africa is 262 million people
4. Nigeria is the most populous nation in the region (52% of the ECOWAS total population), followed by Ghana (23 million)
5. Cape Verde has the smallest population (0.2%)

In the ECOWAS exist another economic sub-bloc:

The West African Economic and Monetary Union (WAEMU) formed by Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

The West African Monetary Zone (WAMZ) is a Monetary and Customs Union with a common currency, the CFA Franc.

1. The seven remaining countries in the ECOWAS have each their national currencies
2. The ECOWAS is working to resolve a possible conflict with other existing customs union in the West Africa region: The West African Economic and Monetary Union - by adopting Union's tariff band
3. The ECOWAS has signed a protocol on free movement and trade with the Mano River Union
4. The ECOWAS has a bilateral trade agreement with Mauritania
5. The Economic Community of West African States Commission (ECOWAS) and ECOWAS Bank for Investment and Development are its two main institutions intended to implement policies and carry out development project

Institutions of the Economic Community of the West African State (ECOWAS):

1. Commission
2. Community Parliament
3. Community Court of Justice
4. ECOWAS Bank for Investment and Development

The West African Monetary Agency is an autonomous specialized agency of the Economic Community of West African States.

The West African Monetary Institute established under the Agreement of the West African Monetary Zone should perform its functions and carry out its activities in agreement with the WAMZ treaty.

Largest ports in the ECOWAS region: Tema, Cotonou, Lomé, Lagos, Abidjan, and Dakar.

Trans-African Corridors in the ECOWAS region:

1. Trans-Sahelian Highway
2. Algiers-Lagos Corridor
3. Cairo-Dakar Corridor
4. Tripoli-Windhoek
5. Lagos-Mombasa Corridor

The ECOWAS belongs to the West African Economic Area.

Ouandaogo Abdoul Karim (Student of the Master in International Business University of Ouagadougou & EENI) winner of a WAEMU regional award.

EENI African Business Portal.

(c) EENI Global Business School (1995-2023)
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