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ECOWAS Intensifies Efforts On Regional Single Currency

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The Economies of West African States (ECOWAS) has intensified efforts on practical arrangements for the launch of the single currency, ECO for the region following consensus reached in the implementation of the directives issued at its 65th Ordinary Session.

This was revealed in a communiqué issued at the end of the 66th ordinary session of the authority of the head of state and government meeting held in Abuja on Sunday.

The ECOWAS bloc of 15 countries had previously planned to launch the currency in 2020, but the coronavirus pandemic caused delays.

The new launch date is 2027.

The Authority said it adopted the criteria proposed by the High-Level Committee for the selection of candidate Member States for the launch of ECO or those which would join at a later stage.

It instructed the Commission, in collaboration with the West African Monetary Agency (WAMA), to ensure that these criteria are incorporated into the protocol establishing the ECOWAS Monetary Union Agreement.

The Authority also endorses the proposals of the High-LevelCommittee on the costs, sources and modalities for financing the implementation of the reforms and institutions needed to launch the ECO.

It urged the central banks and member states to take the necessary measures for the payment of their financial contributions for the operationalisation of these institutions as soon as the decision on the effective date for the launch of the ECOWAS single currency is taken.

The Heads of State also urged the High-Level Committee, in collaboration with the ECOWAS Commission, to intensify its efforts to ensure that the deadlines set for the establishment and operationalisation of the institutions needed to launch the ECO are met.

The body said it welcomed the results achieved in the implementation of the ECOWAS Agricultural Policy (ECOWAP) within the framework of food security and nutrition.

Considering the critical role of agriculture in the socio-economic development of ECOWAS member states, the Authority directed the commission to ensure a swift implementation of the regional strategy for the Development of Livestock Farming and the Security of Pastoral Systems; the Regional Rice Self-sufficiency Initiative and its road map 2025-2035; and domesticate the Comprehensive African Agriculture Development Programme (CAADP) Action Plan 2026-2035.

The Authority also welcomed the strengthening of cooperation with technical and financial partners and urged member states to work together with community institutions towards the achievement of these initiatives for food security and nutrition in the region.

The ECOWAS currency is intended to:

Improve trade

A single currency could lower trade costs and improve intraregional trade, which is currently hindered by the use of different national currencies that are not convertible within ECOWAS.

· Boost economic prosperityA single currency could boost the economic well-being and prosperity of ECOWAS countries.

Some say that the transition to a single currency will involve a short period where both the national currencies and the common currency circulate side by side.

Others suggest that the first phase of implementation should involve two distinct ECO zones, where countries peg their national currency to the ECO.

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International

Burnham becomes PM, vows 10-year plan to stabilise UK

The 56-year-old is the sixth prime minister to enter Downing Street in the last 10 years.

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•Incoming Prime Minister Andy Burnham poses with Britain’s King Charles III on July 20, 2026 (Photo by Aaron Chown / POOL / AFP).

Andy Burnham became British prime minister Monday after meeting King Charles III at Buckingham Palace and was set to set out his vision for the country after taking over from Keir Starmer.

In his first speech, Burnham vowed to put forward a 10-year plan for Britain, saying the country needed to make politics work.

“Britain needs to show the world that we can regain our stability once again,” Burnham said just after being appointed by King Charles III to take over from Keir Starmer.

He pledged to “issue my first instruction to end rough sleeping in our country” once he starts work.

Starmer departed Downing Street on Monday morning, insisting in a farewell speech his two years in office had made Britain a better place.

The monarch met Starmer to accept his resignation and Burnham arrived next for the formal procedure in which the king asked him to form the next government and he accepted.

The 56-year-old is the sixth prime minister to enter Downing Street in the last 10 years.

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International

US Vice President Vance announces birth of baby boy

The birth marks the latest addition to the Vance family. Vance and Usha got married in 2014 and previously had three children before welcoming their new son.

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United States Vice President JD Vance has announced the birth of his son, saying both the newborn and his wife, Usha Vance, are healthy.

The birth marks the latest addition to the Vance family. Vance and Usha got married in 2014 and previously had three children before welcoming their new son.

Vance made the announcement in a statement shared on Sunday, expressing gratitude to the medical personnel who assisted during the delivery.

Vance also paid tribute to the medical teams at Walter Reed Medical Centre and the White House Medical Unit for their care and support.

“We are excited to announce that our baby boy, Alec Neel Vance, was born this morning.

“Usha and the baby are happy and healthy, and our kids are overjoyed to meet their little brother,“ he said.

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International

Andy Burnham set to become Labour leader before taking over as UK PM

Burnham, who has since become known as the “king of the North,” returned to Westminster in June after securing a huge majority in the Makerfield by-election, comfortably beating out challengers from Nigel Farage’s Reform UK party and Rupert Lowe’s hard-right Restore Britain.

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• Andy Burnham / Euro News

Andy Burnham is set to be announced as the Labour Party’s new leader on Friday.

Euro News reports that the Makerfield MP is scheduled to be unveiled at a special press conference before taking over as the UK’s seventh prime minister in a decade on Monday.

Burnham is expected to deliver a speech during the conference where he will reportedly pledge to be “unashamedly Labour” and vow that his government will have the “courage to fix the big things that politics has neglected.”

Burnham was left with a clear path to Downing Street after his last potential leadership rival ruled out challenging last week.

He received 379 nominations from Labour MPs for the party leadership out of a possible 403.

His uncontested run has sparked concern from some analysts and government insiders, however, and opposition leader Kemi Badenoch has accused Labour of “running scared” of scrutiny.

It comes after Keir Starmer announced he was stepping down as PM last month, as pressure continued to build in the wake of Labour’s disastrous local election results in May.

Who is Andy Burnham?

Born on Merseyside in the northwest of England and raised in the village of Culcheth in Cheshire, Burnham has said he was first inspired to enter politics after watching “Boys From The Blackstuff,” an acclaimed 1982 TV show about five unemployed men in Liverpool navigating life in Margaret Thatcher’s Britain.

He went on to study English at the University of Cambridge before starting out in journalism, working for a number of trade publications.

He soon made the jump into politics, taking a job as a researcher for the late Tessa Jowell, a former MP for Dulwich, while in his early 20s.

He eventually became MP for Leigh in 2001, a position he held until 2017, and served in a number of senior ministerial positions, including as secretary of state for health and chief secretary to the Treasury. He unsuccessfully ran for the Labour leadership in 2010 and 2015, losing to Ed Miliband and Jeremy Corbyn, respectively.

In 2017, he took over as mayor of Greater Manchester, overseeing a period of huge growth and development and gaining a reputation for his loyal defence of the region during the Covid-19 pandemic lockdown.

Burnham, who has since become known as the “king of the North,” returned to Westminster in June after securing a huge majority in the Makerfield by-election, comfortably beating out challengers from Nigel Farage’s Reform UK party and Rupert Lowe’s hard-right Restore Britain.

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