UEMOA Celebrates 30 Years of Progress amid Regional Uncertainty
Ouagadougou, Burkina Faso – The West African Economic and Monetary Union (UEMOA) marked its 30th anniversary with a gathering of key stakeholders, reflecting on its achievements and charting a course forward amidst a changing regional landscape. The meeting, held on November 28th, brought together UEMOA President Abdoulaye Diop, his colleagues, and representatives from various international institutions and diplomatic missions.
While celebrating significant strides in integration, the event acknowledged ongoing challenges, including security concerns and the shifting dynamics of the regional bloc.
"This meeting, which is one of the political groups in our consultation and coordination method, gives me the opportunity to establish a local dialogue with you about the issues, problems, challenges and progress in the integration process that UEMOA leads," Diop stated at the outset.
The discussions revolved around the implementation of UEMOA-funded projects, the resilience of the economic model in the face of external shocks, and the potential impact of emerging initiatives like the African Economic Space (AES). Participants Matt reviewed the Union’s macroeconomic outlook, projecting robust growth in 2024, estimated at 6.2%, fueled by agricultural production and budding oil sectors in Senegal and Niger.
Diop emphasized the importance of regional unity, particularly in light of recent developments regarding the Economic Community of West African States (ECOWAS), which he acknowledged posed unique challenges.
"What happened or what will happen in the near future regarding the states of the AES, with ECOWAS, we are waiting to see what happens in a few weeks and we will advise," Diop stated. "At the WAEMU level, the free movement of goods and people will continue to operate normally as this was included in the Convention even before there were texts. Regarding ECOWAS, naturally, we all know it, it is 15 states, when one or two states leave this community, naturally the rules that are laid down do not relate to these states anymore, that is mechanical."
He expressed optimism that solutions would emerge, allowing ECOWAS and UEMOA to continue their shared goals of regional integration and prosperity.
The UEMOA Commission’s President reaffirmed the organization’s commitment to its "Vision 2040" and the "IMPACT 2030" strategic plan, outlining a future focused on strengthening the region’s economic resilience and deepening integration.
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