The eight UEMOA member countries are experiencing a fast rate of urban growth. In 2015, some 42 million UEMOA citizens or 38% of the Union’s population lived in one of the region’s 738 urban agglomerations compared to less than 5% in 1950. With the exception of Guinea-Bissau, the majority of people in UEMOA’s coastal countries are already urban dwellers (Benin, Côte d’Ivoire, Senegal and Togo). Read on

The food sector, which comprises agriculture, food processing, food marketing and food-away-from-home, is a key pillar of all ECOWAS economies. In 2020, the sector’s value is estimated at USD 259 billion or 35% of regional GDP. The economic giant Nigeria alone accounts for 72% of the sector’s value. By 2030, the ECOWAS food economy is expected to nearly double to reach USD 473 billion or 33% of regional GDP. This unprecedented expansion occurs in a context of rapid urban development. Read on

About 3.8 million people were estimated to be in immediate need of assistance (phases 3-5) during October‑December 2019 in the eight UEMOA member countries, including 1.4 million in Niger, 1.2 million in Burkina Faso and 650 000 people in Mali. A large share of the population of Guinea‑Bissau is also food insecure (10.3% or 131 000 people). The number of people suffering from severe food insecurity has nearly tripled within the UEMOA area, compared to the same period in 2018. Read on

One important step forwards towards a single currency was made on 21 December 2019 when Ivorian President Alassane Ouattara – who is also the current president of the UEMOA – and French President Emmanuel Macron announced plans to reform the CFA franc, the common currency of the eight UEMOA member countries. Some 134 million people in Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo use the CFA franc. Under the reform plan: the CFA franc will be renamed the “Eco”; France will withdraw from all governance bodies; and the Bank of France will no longer hold half of the foreign reserves. However, the Eco will continue to be pegged to the Euro and France will retain, for the time being, its role as its financial guarantor. Read on