West African Monetary Zone (WAMZ) Nigeria

1. Introduction to the West African Monetary Zone (WAMZ)
2. West African Monetary Institute
3. West African Monetary Zone Strategic Plan
4. Structure of the West African Monetary Institute (WAMI)
5. Economy of the WAMZ region: The Gambia, Ghana, Guinea, Nigeria, and Sierra Leone
6. Case Study:
   1. Opportunities for Increasing the Cross-Border Trade in the Banking Sector
   2. WAMZ Payments System Development Project

West African Monetary Zone (WAMZ):

The Subject “West African Monetary Zone (WAMZ)” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate in African Business, World Trade.

Master in Business in Africa, International Business, Foreign Trade.

Business in West Africa.

Masters adapted to the Students of the WAMZ: The Gambia, Ghana, Liberia, Nigeria and Sierra Leone.

Languages: or Zone monétaire de l’Afrique de l’Ouest (ZMAO) Área Monetária da África do Oeste (ZMAO) Zona Monetaria del África Occidental (ZMAO).

Area of Knowledge: Africa.

West African Monetary Zone (WAMZ).

In 2000, five Western African Countries (the Gambia, Ghana, Guinea, Nigeria, and Sierra Leone) established the West African Monetary Zone (WAMZ). At the same time was set-up the West African Monetary Institute (WAMI).

Liberia acceded in 2010.

1. The West African Monetary Zone (WAMZ) is a monetary and customs union with a common currency, the CFA Franc
2. Initially, they propose the introduction of the Single Currency in 2003
3. Finally, they agreed to launch the new single currency in 2015

The main objectives of the WAMZ are.

1. To promote the regional trade integration
2. To facilitate the foreign trade and financial operations
3. To harmonize the legislation and statistics
4. To develop the payment systems
5. To encourage the macroeconomics convergence

The West African Monetary Institute (WAMI) is the main body responsible for the creation of the:

1. Common West African Central Bank
2. Single Currency of the WAMZ

The West African Monetary Zone (WAMZ) region.

1. 1.60 million km²
2. 195 million people (77% of the ECOWAS and 21% of the African population)
3. Total GDP: 390 billion dollars (PPP): 73% of the ECOWAS and 19% of Africa
4. Largest economy: Nigeria (76% of the WAMZ population; 86% of the WAMZ GDP; Crude oil represents 97% of Nigerian exports
5. Second economy: Ghana (9% of the WAMZ GDP)
6. Main religions: Islam and Christianity
7. Lagos-Mombasa Corridor
8. Largest port: Port of Lagos

The West African Monetary Zone (WAMZ) belongs to the West African Economic Area.

See also: West African Economic and Monetary Union.

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

EENI African Business Portal.

(c) EENI Global Business School (1995-2024)
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