ECOWAS

All the countries making up the Economic Community of West African States have agreed to join hands in forming a single currency for the region by the year 2020. The region, also known as ECOWAS, aims to make trade in its territories easier while decreasing facilitation payments and transaction costs. Already, two currencies are used in the region which include the West African CFA franc, used in eight West African countries, and the Central African CFA franc, used in six Central African countries. So, it is said that the new eco-currency would replace these currencies with a gradual introduction after the ECOWAS countries lay out criteria in the months to come. To look at the significance of this new currency we are joined on the line by: • Trudi Hartzenberg Executive Director, t r a l a c, or the Trade Law Centre• Dr Oscar van Heerden, scholar of International Relations (IR), where he focuses on International Political Economy