Date Posted

‘External financial ties threaten ECOWAS currency union’

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Political scientist and conflict resolution expert casts doubt on ECOWAS single currency plans

Political scientist and conflict resolution expert Dr David Matsanga has raised serious doubts over the Economic Community of West African States’ (ECOWAS) ambitious plan to launch a single regional currency by next year.

 

Speaking on the feasibility of the long-delayed monetary union, Matsanga warned that deep-seated economic dependency and lingering structural ties to external financial systems, particularly foreign-backed currencies, continue to block genuine monetary integration across West Africa.

 

While Matsanga commended the regional bloc for its notable achievements in facilitating the seamless movement of citizens through its unified regional passport system, he stressed that currency integration presents a far more complex hurdle. He argued that until member states break free from external economic control and address domestic financial instability, forcing a single currency risks triggering further economic disruption and political friction across the region.

 

The commentary comes as ECOWAS faces mounting scrutiny over its regional authority, leadership direction, and economic strategies amidst widespread geopolitical shifts in West Africa.

 

 

–ChannelAfrica–