West African Monetary Zone (WAMZ)

EENI- School of International Business

Sub-subject: The West African Monetary Zone. The West African Monetary Institute. Syllabus:

  1. Introduction to the West African Monetary Zone (WAMZ)
  2. The West African Monetary Institute
  3. WAMZ Strategic Plan
  4. The structure of the West African Monetary Institute (WAMI)
  5. The Economy of the West African Monetary Zone (WAMZ) region: The Gambia, Ghana, Guinea, Nigeria, and Sierra Leone
  6. Case Study:
    1. Opportunities for Increasing Cross-Border Trade in the Banking Sector
    2. WAMZ Payments System Development Project
The sub-subject “The West African Monetary Zone (WAMZ)” is studied...
  1. Doctorates (e-learning): Africa, Muslim Countries
  2. Masters: African Business, BRICS Countries (Nigeria), Frontier Markets, International Business, and Economic Relations
  3. Course: West Africa

Learning materials in English or French ZMAO Portuguese ZMAO Spanish WAMZ

Area of Knowledge: Africa

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

We Trust in Africa

Description of the Sub-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.

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

The main objectives of WAMZ are to promote trade integration in the region, trade and financial facilitation, harmonisation of legislation and statistics, payment systems, or macroeconomic convergence.

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

  1. The Common West African Central Bank
  2. The 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 millions of people (77% of the ECOWAS and 21% of Africa)
  3. The 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. The second economy: Ghana (9% of WAMZ’s GDP)
  6. The 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 of the 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.



U-EENI University