As part of his objective to strengthen collaboration and foster cohesion with the Authorities of ECOWAS Member States, the Director General of the West African Monetary Agency (WAMA), Hon. Boima S. Kamara, undertook an official visit to Senegal on July 31, 2025, to meet with the Minister of Economy, Planning, and Cooperation of Senegal. He was accompanied by Dr. Serigne Momar Seck, Chief Economist of the Financial Integration Department, and Mr. Elhadji Tamba Baldé, Chief Interpreter.
The Director General was warmly received by the Minister of Economy, Planning, and Cooperation, Dr. Abdourahmane Sarr, who extended his congratulations on Mr. Kamara’s appointment as Director General of WAMA.
In his remarks, Hon. Kamara expressed his heartfelt appreciation to the Minister for the warm reception accorded to him and his delegation. He reflected on his extensive professional journey, having served in senior management roles at the Central Bank of Liberia—including Director of Research and Deputy Governor for Economic Policy—as well as on two occasions as Minister of Finance and Development Planning. He noted his satisfaction in visiting a WAEMU country at this critical juncture, as the region approaches the deadline for the launch of the single currency (ECO). Hon. Kamara commended the Senegalese authorities for their robust efforts in revenue mobilization and highlighted that the commencement of oil and gas production marks a transformative milestone for Senegal, ushering in a new era of economic growth and development. He also provided an overview of the convergence status among ECOWAS member states, emphasizing both the progress made and the challenges that remain in achieving the 2027 target.
In response, Minister Dr. Abdourahmane Sarr welcomed the Director General’s initiative to visit Senegal and provide an update on the progress of the ECOWAS monetary integration agenda, particularly considering the fast-approaching 2027 deadline for the launch of the ECO. The Minister underscored the critical importance of convergence among member states, not only as a technical requirement but as a shared commitment to macroeconomic stability, policy harmonization, and sustainable development.
Hon. Sarr further emphasized the strategic role of Nigeria in the integration process, noting that Nigeria, which accounts for around 60% of regional GDP, could be an asset in the realization of the single currency project. He advocated for a collaborative and inclusive approach that leverages the strengths and experiences of all Member States, while emphasizing the need for regular high-level consultations and technical working groups to accelerate convergence efforts.
In conclusion, Minister Sarr described the meeting as highly significant and expressed his deep appreciation to the Director General for his visionary leadership and unwavering commitment. He reaffirmed Senegal’s steadfast support for the ECOWAS integration process and called for renewed collective resolve to overcome remaining challenges and achieve the shared vision of a unified and prosperous West Africa.
On the sidelines of this meeting, the Director General attended the launch ceremony of the Dr. Seck’s Book on “The Choice of Monetary Sovereignty for Senegal: What Are the Implications?” at the headquarters of L’Harmattan in Dakar. In his address, the Director General provided a historical overview of the CFA Franc Zone and highlighted the various reforms undertaken by the UEMOA Authorities, particularly the 2019 reform, which centered on 3 main pillars: (i) the renaming of the “CFA franc” to the “ECO”; (ii) the lifting of requirements to centralize the foreign exchange reserves in the operations account at the French Treasury; and (iii) the withdrawal of France from the principal decision-making bodies of the Zone.
