The Africa Union flag symbolizes unity and regional efforts to combat security threats across Africa.
Guinea has announced it will not join the planned ECOWAS single currency, the eco, set to launch in July 2027 among the bloc’s 12 member states. The country is the first to confirm it will keep its national currency, the Guinean franc, after ECOWAS signaled last month it favored a phased rollout based on countries meeting convergence criteria like inflation and debt targets. Analysts point to concerns that joining before building sufficient production capacity could damage Guinea’s economy. With roughly 80% of its exports headed to Asia rather than West Africa, economists argue tying its currency to neighboring states could cost Guinea economic leverage. ECOWAS is expected to reconvene in December to settle remaining questions, including the future central bank’s structure and which nations will adopt the eco first.
Africanews