West African Monetary Zone (WAMZ)

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Syllabus of the Subject: West African Monetary Zone. West African Monetary Institute.

  1. Introduction to the West African Monetary Zone (WAMZ)
  2. West African Monetary Institute
  3. WAMZ Strategic Plan
  4. Structure of the West African Monetary Institute (WAMI)
  5. Economy of the West African Monetary Zone (WAMZ) region: The Gambia, Ghana, Guinea, Nigeria, and Sierra Leone
  6. Case Study:
    1. Opportunities for Increasing the Cross-Border Trade in the Banking Sector
    2. WAMZ Payments System Development Project
The Subject (e-learning) “West African Monetary Zone (WAMZ)” is part of the following Higher Education Programs (EENI- School of Business & HA University):
  1. Doctorates (e-learning): Africa, Muslim Countries
  2. Masters: African Business, BRICS Countries (Nigeria), Frontier Markets, International Business, Economic Relations
  3. Course: West Africa
  4. Bachelor's Degree in Inter-African Business

Learning materials in Higher Education in English or Post-secondary Education in French Zone monétaire de l’Afrique de l’Ouest (ZMAO) Study in Portuguese Área Monetária da África do Oeste (ZMAO) Tertiary Education in Spanish Zona Monetaria del África Occidental (ZMAO)

Area of Knowledge: Africa

Sample of the Subject - West African Monetary Zone (WAMZ):
West African Monetary Zone (WAMZ)

Opening of the Hispano-African University of International Business

Hispano-African University of International Business

We Trust in Africa

Description of the Subject - West African Monetary Zone (WAMZ).

In 2000, five Western African Countries (the Gambia, Ghana, Guinea, Nigeria, and Sierra Leone) established the West African Monetary Zone (WAMZ). At the same time was set-up the West African Monetary Institute (WAMI).

Liberia acceded in 2010.

  1. The West African Monetary Zone (WAMZ) is a monetary and customs union with a common currency, the CFA Franc.
  2. Initially, they propose the introduction of the Single Currency in 2003.
  3. Finally, they agreed to launch the new single currency in 2015.

The main objectives of the West African Monetary Zone (WAMZ) are

  1. To promote the trade integration in the region
  2. To facilitate the foreign trade and financial operations
  3. To harmonise the legislation and statistics
  4. To develop the payment systems
  5. To encourage the macroeconomics convergence

The West African Monetary Institute (WAMI) is the main body responsible for the creation of the:

  1. Common West African Central Bank
  2. Single Currency of the West African Monetary Zone (WAMZ)

The West African Monetary Zone (WAMZ) region.

ECOWAS ZMAO WAEMU

  1. 1.60 million square kilometres
  2. 195 million of people (77% of the ECOWAS and 21% of Africa)
  3. Total GDP: 390 billion dollars (PPP): 73% of the Economic Community of West African States (ECOWAS) and 19% of Africa
  4. The largest economy: Nigeria (76% of WAMZ’s population. 86% of WAMZ’s GDP). Crude oil represents 97% of Nigeria’s exports
  5. Second economy: Ghana (9% of WAMZ’s GDP)
  6. Main religions: Islam and Christianity
  7. Lagos-Mombasa Corridor
  8. Port of Lagos

The West African Monetary Zone (WAMZ) belongs to the West African Economic Area (African Civilisation).

See also: The West African Economic and Monetary Union.

Abdoul Karim Ouandaogo (EENI Alumni)
Ouandaogo Abdoul Karim (Student of the Master in International Business University of Ouagadougou & EENI) winner of one WAEMU regional award.



(c) EENI- Business School & Hispano-African University of International Business