Tag: west african economic and monetary union
“There has been considerable uncertainty and speculation about the capacity of both the West African Economic and Monetary Union (Waemu) and the Economic and Monetary Community of Central Africa’s (Cemac) to absorb these shocks and to protect the value of their respective regional currency pegs to the euro,” writes economist, George Ott.
Since the West African Economic and Monetary Union agreed to rename its CFA Franc to the "Eco", Ghana's government has indicated interest to join the West African currency, but without the planned peg to the Euro. Nigeria's government on the other says it is still studying the development. With the currency set to kick off by the end of the year – Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa to discuss the implications.