West Africa's aspirations for a single currency hit a setback after its leaders met in Niamey for a one-day summit earlier this week and passed a resolution to delay the proposed adoption until all critical issues are resolved.
It’s the final day of the performance review of Nigeria's cabinet; one key priority area for this administration has been security.
Leaders from some West African countries will travel to Mali in search of a resolution to the on-going crisis in the country.
The Economic Community of West African States has suspended Mali over the ousting of its President Boubacar Keita on Tuesday. Meanwhile, Soldiers who staged Keita’s removal and forced resignation have said they plan to form a civilian transitional government that will organise new elections. In neighbouring Cote d'Ivoire protesters have continued to march against President Alassane Ouattara’s third term bid. Nonyane Gaimin, Macro Adviser and Strategist at K-Frontiers Solutions joins CNBC Africa for more.
West African leaders have begun a virtual extraordinary summit to negotiate an end to the deepening political crisis in Mali. This comes after presidents from Nigeria, Ivory Coast, Senegal, Ghana and Niger held talks on Thursday last week that ended in a stalemate. Onyekachi Adekoya, Managing Director of PR24 Nigeria joins CNBC Africa for more.
Nigeria’s President Mohammadu Buhari has expressed displeasure about Francophone West Africa’s adoption of the Eco in replacement for its CFA Franc ahead of other ECOWAS Member States. Buhari says it was a matter of concern that people with whom others wished to go into a union were taking major steps without trusting their counterparts for discussions. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
With a 25 per cent to 40 per cent forecast decline in foreign direct investment to Africa, different countries in the region will be looking to reposition themselves to take full advantage of the low FDI flows as a source of revenue that has been hit by the COVID-19 pandemic. Meanwhile, Ministers from the ECOWAS region are calling for a coordinated plan to re-open cross border trading. Sam Chidoka, Managing Director and CEO of Kairos Capital joins CNBC Africa for more.
Moody’s Investors Service says debt burdens have risen across ECOWAS member states raising concerns over debt sustainability in the region. Lucie Villa, Vice President and Sovereign Analyst at Moody’s joins CNBC Africa’s Kenneth Igbomor to discuss the debt concerns in West Africa.