ECOWAS and WAIFEM Partner o Boost Economic Resilience and Sustainable Growth.
By Raymond Enoch
In a significant move towards enhancing the economic stability and prosperity in West Africa Region, the Economic Community of West African States (ECOWAS) Commission and the West African Institute for Financial and Economic Management (WAIFEM) have renewed their commitment to strengthen their partnership.
The collaboration is aimed at driving economic resilience, promoting robust financial governance, and supporting sustainable growth across the region.
The reaffirmation of this partnership came during a high-level visit from WAIFEM, led by Dr. Baba Yusuf Musa, the Director General of the Institute, to the ECOWAS Commission. The delegation was warmly welcomed by His Excellency Dr. Omar Alieu Touray, the President of ECOWAS, highlighting the shared vision between the two institutions for a more prosperous and integrated West Africa.
During the meeting, both leaders discussed a broad array of collaborative efforts focused on strengthening economic policies, improving financial governance, and addressing challenges that hinder regional economic development
H E. Dr. Touray emphasized the importance of economic integration, noting that a unified West Africa is crucial for overcoming the challenges posed by economic instability, climate change, and global market fluctuations.
WAIFEM, an institution dedicated to building financial and economic management capacity across the region, expressed its readiness to work closely with ECOWAS to support the implementation of sound economic policies that can withstand external shocks and foster long-term growth. Dr. Musa stressed that by providing training, policy advice, and technical support to member states, WAIFEM could play a pivotal role in improving the financial resilience of the region.
Both institutions agreed to enhance joint efforts in fostering financial literacy, deepening regional integration, and addressing the challenges posed by climate change, which is increasingly seen as a critical threat to the region’s long-term economic stability.
“We are committed to working together to achieve our shared goals of regional economic integration and sustainable growth. It is through such partnerships that West Africa can overcome the challenges that have historically hindered its progress,” Dr. Musa said in his remarks during the meeting.
The partnership between ECOWAS and WAIFEM is expected to evolve into a more dynamic and strategic relationship, with plans for joint programs aimed at increasing the economic resilience of West African nations. This renewed collaboration will focus on fostering a sustainable and inclusive development framework, capable of addressing both the immediate and long-term challenges faced by the region.
As both institutions continue to build on their shared vision, the future of West Africa looks promising, with the potential for greater regional cooperation and sustained economic growth in the years to come.
