He said the plan, when eventually rolled out, will help reduce the exportation of raw materials outside West Africa and ensure value addition to basic export commodities.

[contextly_sidebar id=”z7ZbwjhH6lbrVztRBuRBcHhu1zjNaE9r”]Speaking at the Fifth Meeting of the Presidential Task Force on the ECOWAS single currency programme in Accra on Wednesday, President Akufo Addo urged all ECOWAS member states to work towards fulfilling the requirements outlined to meet the deadline for the introduction of the ECO currency by 2020.

He urged countries within the sub-region to make conscious efforts towards industrialization in order to take advantage of the viable economic prospects a single currency would present.

“The structural transformation of our economies can no longer be postponed if we are to meet the aspirations of our young people for jobs… The era of Africa’s industrialization has dawned so that we can also trade in the world economy, not on the basis of the export of raw materials but on the basis of things we make. Our quest for a single currency is not intended to boost trading of goods produced in third-party countries. It is meant to encourage the production of goods and services within the region,” Akufo-Addo said.

“It is thus incumbent on us to strengthen the production base of our economies and to improve agricultural productivity and industrial production… There is a viable market ready to absorb the goods which will be produced by our countries,” he added.

President Akufo-Addo called on leaders of West African countries and members of the taskforce to ensure that presidential assent is speedily given to the revised implementation framework to prevent further delays in the introduction of the single currency.

He also called for the processes involved in the setting up of a proposed special fund to finance activities of the roadmap to be hastened.

Nana Akufo-Addo further urged the representatives of various countries in the taskforce to ensure macroeconomic convergence within the shortest possible time since it is a prerequisite for the introduction of the currency.

‘Buhari, other presidents in Ghana’

President Akufo-Addo hosted Nigerian President, Muhammadu Buhari and his Ivorian counterpart Alhassane Ouattara, as well as the President of Niger, Issoufou Mahamadou at the 5th Economic Community of West African States’ (ECOWAS) Presidential Task-force meeting held at the Accra International Conference Center.

Also in attendance at the meeting were governors of Central Banks and foreign Ministers from the ECOWAS.

Representatives of the Ministries of Finance and Economy of Cote d’Ivoire and Ghana, Niger and Nigeria, Central Banks of ECOWAS Members State and the regional institutions involved in the ECOWAS Monetary Cooperation Programme (EMCP), namely the ECOWAS Commission, UEMOA Commission, West African Monetary Agency (WAMA), West African Monetary Institution (WAMI) BCEAO and the United Nations Economic Commission for Africa (UNECA), were also in attendance for the Technical Meetings.

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By: Jonas Nyabor/citifmonline.com/Ghana

The post ECOWAS single currency to boost regional trade – Akufo-Addo appeared first on Citi 97.3 FM - Relevant Radio. Always.

Also in attendance are governors of Central Banks and foreign Ministers from the ECOWAS.

The Presidential Task-force meeting on a single currency for the West African sub-region in Ghana, will be chaired by President Akufo-Addo.

It will be held at the Accra International Conference Centre from the 21st of February. The Presidential Task-force meeting will be preceded by two meetings namely: The 6th Technical Meeting of the Presidential Task Force and the 2nd Ministerial Meeting of the Presidential Task Force.”

Representatives of the Ministries of Finance and Economy of Cote d’Ivoire and Ghana, Niger and Nigeria, Central Banks of ECOWAS Members State and the regional institutions involved in the ECOWAS Monetary Cooperation Programme (EMCP), namely the ECOWAS Commission, UEMOA Commission, West African Monetary Agency (WAMA), West African Monetary Institution (WAMI) BCEAO and the United Nations Economic Commission for Africa (UNECA), will be in attendance for the Technical Meetings.

The meeting will provide a platform to deliberate on issues related to the ECOWAS single currency Programme and review strategies to accelerate the single currency by 2020.

The single Currency programme is in line with the vision of ECOWAS to transform the sub-region into an economic and monetary union.

“ECOWAS was founded with the aim the transforming the sub-region into an economic and monetary union. This led to the adoption of the Community Authority of the ECOWAS Monetary Cooperation Programme (EMCP) in July 1987.”

The last ECOWAS single Currency Programme was held in Niamey, Niger in October 2017.

Roads to be closed for 5th ECOWAS Presidential Task-force meeting

The Accra Regional Police Command has announced a temporary closure of some roads in Accra ahead of the meeting.

In a statement signed by the Public Relations officer for Accra Regional Police Command, the Police said there will be a temporary closure of the Osu Cemetary Traffic Light on the Castle Road to AU Circle, intermittent closure on the Independence Avenue through 37 interchanges to AU circle.

The Regional Police Command urged the general public to cooperate with the police for effective traffic management.

“The general public is urged to cooperate with the police to ensure effective traffic management.Any inconvenience that these arrangements would cause is deeply regretted”.
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By: citifmonline.com/Ghana

The post Buhari, Ouattara arrive in Accra for ECOWAS meeting on single currency appeared first on Citi 97.3 FM - Relevant Radio. Always.

The Presidential Task-force meeting on a single currency for the West African sub-region, will be hosted in Ghana and chaired by President Akufo-Addo.

It will be held at the Accra International Conference Centre from Wednesday, February 21, 2018.

According to a statement signed by the Public Relations Officer for Accra Regional Police Command, Effia Tenge, there will be a temporary closure of the Osu Cemetary Traffic Light on the Castle Road to AU Circle, intermittent closure on the Independence Avenue through 37 interchanges to AU circle.

The Regional Police Command urged the general public to cooperate with the police for effective traffic management.

“The general public is urged to cooperate with the police to ensure effective traffic management.Any inconvenience that these arrangements would cause is deeply regretted ”

In attendance at the meeting will be the Presidents of the Federal Republic of Nigeria, Muhammadu Buhari, President of the Republic of Cote d’Ivoire, Alhassane Ouattara, President of the Republic of Niger, Issoufou Mahamadou, the Governors of Central Banks and foreign Ministers from the ECOWAS.

The Presidential Task-force meeting will be preceded by two meetings; the 6^th Technical Meeting of the Presidential Task Force and the 2^nd Ministerial Meeting of the Presidential Task Force.”

Representatives of the Ministries of Finance and Economy of Cote d’Ivoire and Ghana, Niger and Nigeria, Central Banks of ECOWAS Members State and the regional institutions involved in the ECOWAS Monetary Cooperation Programme (EMCP), namely the ECOWAS Commission, UEMOA Commission, West African Monetary Agency (WAMA), West African Monetary Institution (WAMI) BCEAO and the United Nations Economic Commission for Africa (UNECA), will be in attendance for the Technical Meetings.

The meeting will provide a platform to deliberate on issues related to the ECOWAS single currency Programme and review strategies to accelerate the single currency by 2020.

The single Currency programme is in line with the vision of ECOWAS to transform the sub-region into an economic and monetary union.

“ECOWAS was founded with the aim the transforming the sub-region into an economic and monetary union. This led to the adoption of the Community Authority of the ECOWAS Monetary Cooperation Programme (EMCP) in July 1987,” the statement added.

The last ECOWAS single Currency Programme was held in Niamey, Niger in October 2017.

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By: Farida Yusif/citifmonline.com/Ghana

The post Roads to be closed for 5th ECOWAS Presidential Task-force meeting appeared first on Citi 97.3 FM - Relevant Radio. Always.