Regional Economic Expansion Expected Through Enhanced Contribution of Private Sector via EBC, According to ECOWAS
The Economic Community of West African States (ECOWAS) is gearing up for the official unveiling of the ECOWAS Business Council (EBC) in September. This significant step forward in regional integration is expected to drive economic growth, stimulate investment, and position ECOWAS as a global investment destination.
Dr Mansur Ahmed, a prominent figure from the Dangote Group, has reaffirmed the company's dedication to supporting ECOWAS and the Steering Committee. The Dangote Group's involvement underscores the council's potential in fostering public-private collaboration and enabling business leaders to play a more central role in shaping economic policies.
The ECOWAS Business Council, established by Regulation C/REG.9/6/21 of the ECOWAS Council of Ministers, is designed to serve as the private sector's voice and strategic partner in ECOWAS's regional integration agenda. Upon inauguration, the EBC will serve as the primary platform for private sector engagement, providing strategic input into policy formulation.
The EBC is projected to become the subregion's private sector's apex decision-making body. It is anticipated that the council will drive regional trade promotion and foster sustainable economic development through cross-border investments. This will unlock the regional private sector's potential and deepen economic growth, as stated by ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs Massandjé Toure-Litse.
The EBC steering committee meeting was held to review preparatory documents and evaluate the region's readiness for the official unveiling. Dr Tony Elumelu, representing the ECOWAS Director of Private Sector, described the meeting as an important milestone in the journey toward the full realization of the EBC. Elumelu urged members of the committee to critically evaluate the documents developed by the ECOWAS Commission and contribute constructively toward ensuring a robust and successful EBC inauguration.
The name of the chairman of the Technical Working Committee of the ECOWAS Business Council is Ibrahim Alpha Salifou. Mr Gerard Amangou, Chairman of the Technical Working Group, lauded ECOWAS for its responsiveness and commitment to the recommendations made at a meeting on August 5. Amangou underscored the necessity of confirming the timeline for the unveiling of the EBC with the management of ECOWAS to solidify its planning and logistics.
Timely implementation is critical, according to Dr Ahmed, to demonstrate seriousness and foster investor confidence in the ECOWAS Business Council (EBC). The EBC is mandated to drive economic integration, stimulate investment, and reposition ECOWAS as a global investment destination. The council is projected to foster regional competitiveness on the global stage.
The preparatory meeting for the EBC was attended by members of the Technical Working Group (TWG), high-level representatives from the Dangote Group, and ECOWAS Permanent Mission to Nigeria, among others. The meeting was edited by Abiemwense Moru, as reported by NAN.
The EBC, upon its official unveiling, is poised to play a pivotal role in ECOWAS's regional integration efforts. Its potential to drive economic growth, stimulate investment, and position ECOWAS as a global investment destination is promising. As the private sector's voice and strategic partner, the EBC is set to usher in a new era of collaboration and growth for the subregion.
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