Guinea has become the first member of the Economic Community of West African States (ECOWAS) to publicly reject the bloc’s planned Eco single currency, weeks after its leader questioned the organisation’s priorities during a summit in Sierra Leone.
At the 69th ECOWAS Summit in Freetown, Guinea’s President, Mamadi Doumbouya, urged the regional bloc to focus on the immediate needs of its citizens, saying people across West Africa were waiting for better roads, reliable electricity and improved living conditions.
His remarks contrasted with the summit’s decision to press ahead with preparations for the long-delayed Eco currency, which ECOWAS leaders say they intend to launch in July 2027 as part of efforts to deepen regional economic integration.
Guinea has now announced that it will retain the Guinean franc rather than join the planned monetary union. Officials say keeping the national currency will preserve the country’s ability to manage its own monetary policy and respond to domestic economic challenges.
The decision is the first public indication that an ECOWAS member state does not intend to participate in the planned single currency, raising fresh questions about the bloc’s ambition to create a common monetary area.
The Eco project has been delayed repeatedly over the past two decades as many member states failed to meet agreed economic benchmarks. The latest setback also comes at a time when ECOWAS is facing broader challenges to its authority.
In recent years, the bloc has struggled to influence political developments in several member states following military takeovers. Burkina Faso, Mali and Niger have withdrawn from ECOWAS after disputes over sanctions and the timetable for restoring civilian rule, exposing divisions within the regional organisation.
Despite those challenges, ECOWAS leaders in Freetown reaffirmed their commitment to the Eco, saying countries that meet the required economic criteria will form the first phase of the monetary union.
Guinea’s decision suggests that, alongside the economic hurdles, the bloc may also face growing political resistance as it seeks to deliver one of its most ambitious integration projects.
