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Course contents (Business in Africa
- West Africa)
- Introduction to the Economic Community Of West African States (ECOWAS). Project VISION 2020.
- Socio-economic development of the ECOWAS region. Ecobiz.
- West African Monetary Institute (WAMI).
- ECOBANK.
- The West African Development Bank (WADB).
- ECOWAS Bank for Investment and Development (EBID - BIDC).
- Case Study: ASKY Ariline. The West African Power Pool (WAPP).
Summary
ECOWAS West African Monetary Institute (WAMI) Development Bank (WADB). Bank for Investment and Development (EBID - BIDC). Nigeria, Senegal ... The Economic Community Of West African States
(ECOWAS) (CEDEAO) is a regional group of fifteen countries, founded in
1975. Its mission is to promote economic
integration in "all
fields of economic activity, particularly industry, transport,
telecommunications, energy, agriculture, natural resources, commerce, monetary
and financial questions, social and cultural matters ....."
The Institutions of the Economic Community Of West African States (ECOWAS)
are as follows:
- The Commission
- The Community Parliament
- The Community Court OF Justice
- ECOWAS Bank for Investment and Development (EBID)
The ECOWAS Commission and the ECOWAS Bank for
Investment and Development, more often called The Fund
are its two main institutions designed to implement policies, pursue a number of
programmes and carry out development projects in Member States.
ECOWAS Member States occupy a surface area of 1.5 million km2, representing
17% of the total surface area of the continent. The countries
with the largest land mass are Niger (24.8%) and Mali
(24.3%) whilst the country with the smallest is Cabo Verde (0.1%).
The population of West Africa which grows at an annual rate of
2.67% was estimated at 261.13 million in 2006.
Nigeria is the most populous country
in the regions with a population of 134.38 million (51.5 % of the region's total
population). It is followed by Ghana which has an estimated
population of 22.56 million, representing 8.6% of the total population of the
region. Cabo Verde is the member country with the smallest population estimated
at 520 000 or 0.2% of the region's total. ECOWAS is the most populous regional
economic community in Africa.
A distinct economic sub group known as UEMOA also exists within the community.
This sub group which comprises eight countries is a monetary and customs union
with a common currency, the CFA franc. The countries are Benin,
Burkina Faso, Cote d'Ivoire, Guinea Bissau, Mali, Niger,
Senegal and Togo.
The seven remaining countries in ECOWAS have each their own national currencies.
This group accounts for 75% of the region's GDP and 70% of its population.
Sample:
The West African Power Pool (WAPP) was created by Decision
A/DEC.5/12/99 during the 22 nd Summit of the Authority of ECOWAS Heads of State
and Government in order to address the issue of power supply deficiency within
West Africa.
The West African Monetary Agency (WAMA) is an autonomous
specialized agency of the Economic Community of West African States (ECOWAS).
WAMA was empowered to ensure the Monitoring, coordination and implementation of
the ECOWAS monetary cooperation programme, encourage and promote the application
of market determined exchange rates for intra-regional trade, initiate policies
and programmes on monetary and economic integration and ensure the
establishment of a single monetary zone in West Africa.
The West African Monetary Institute (WAMI) established under
the Agreement of the West African Monetary Zone shall perform its functions and
carry out its activities in accordance with the WAMZ Agreement. The members of
the WAMI shall be the central banks of the Member States (National Central
Banks).
The West African Development Bank (WADB) is the common
financial institution for the development member states of the West African
Monetary Union (UMOA), later changed into a
West African Economic and Monetary
Union (UEMOA) by a treaty dated 10 January 1994.
ECOBANK TRANSNATIONAL INCORPORATED (ETI). ETI, a public limited
liability company, was established as a bank holding company in 1985 under a
private sector initiative spearheaded by the Federation of West African Chambers
of Commerce and Industry with the support of ECOWAS.
Ecowas Bank for Investment and Development (EBID) (Banque
d'Investissement pour le Développement de la CEDEAO)
EBID is an international finance institution established by the new Article 21
of the Revised Treaty as amended by the Additional Act A/SA.9/01/07 of 19
January 2007. It has two windows, one for the promotion of the private sector
and the other for the development of the public sector.
Members:
Benin,
Burkina Faso,
Cape Verde,
Côte d'Ivoire,
Gambia,
Ghana,
Guinea,
Guinea-Bissau,
Liberia,
Mali,
Niger,
Nigeria,
Senegal,
Sierra Leone,
Togo,
Available Languages:  
(Fr:
Afrique CEDEAO)
Master
Executive Business with Africa - Master Business
West Africa and Maghreb
ECOWAS, Economic Community, West African, States, Africa, West, African, Monetary, Institute, WAMI, Development Bank, WADB, Bank, Investment, Development, EBID, BIDC, Nigeria, Senegal, Master, International Business
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