No New Currency for West African States

Mali’s Ministry of Economy and Finance has said that claims circulating on social media about the imminent introduction of a common currency for the Alliance of Sahel States (AES) are false.

The clarification comes amid heightened interest in the economic direction of Mali, Niger, and Burkina Faso, three military-led states that formally exited the Economic Community of West African States (ECOWAS), the region’s dominant economic and political bloc last year, to establish the AES.

They remain members of the eight-nation West African Economic and Monetary Union, which uses the CFA franc, a currency pegged to the euro and backed by the French treasury. There has long been talk of introducing common currency for the region – the so-called ECO – but it has been repeatedly delayed since the launch of the project back in the early 2000s. The fifth and latest launch date has been set for July 2027.