THE DIRECTOR GENERAL OF THE WEST AFRICAN MONETARY AGENCY, MR. BOIMA S. KAMARA, PAYS A COURTESY CALL ON THE PRESIDENT OF THE ECOWAS COMMISSION, HE DR. OMAR ALIEU TOURAY
THE DIRECTOR GENERAL OF THE WEST AFRICAN MONETARY AGENCY, MR. BOIMA S. KAMARA, PAYS A COURTESY CALL ON THE PRESIDENT OF THE ECOWAS COMMISSION, HE DR. OMAR ALIEU TOURAY
On 3 March 2025, the Director General of the West African Monetary Agency (WAMA), Mr. Boima S. KAMARA, paid a courtesy call on the President of the ECOWAS Commission, HE Dr. Omar Touray, on the sideline of the ECOWAS Convergence Council meetings in Abuja, Nigeria. Mr. Kamara was accompanied by Dr. Gradé Momèle KIPRE and Dr. Mawuli GADDAH, the Directors of Financial Integration Department and Multilateral Surveillance Department, respectively. Also in attendance was Mr. Abdou KOLLEY, Chief of Staff at the ECOWAS Commission.
Mr. KAMARA indicated that, as a specialised Agency of the ECOWAS, WAMA is committed to working closely with the ECOWAS Commission on the implementation of the Roadmap for the Launch of the ECO. In this regard, Mr. KAMARA indicated that the ECOWAS Commission and WAMA will organise at least 1 Joint Statutory Meeting a year and produce a Single Macroeconomic Convergence Report, following the decision of the Committee of Governors and the Convergence Council. The Director General also highlighted the difficulties of the Member States in meeting the macroeconomic convergence criteria in a sustainable manner in the face of the multiple shocks that have disrupted economic activities in recent times coupled with the structural challenges facing the ECOWAS Bloc. He intimated that WAMA will undertake a study on the Binding Constraints to Achieving Single Currency in the ECOWAS Bloc in order to offer some practical solutions to help member states achieve the convergence criteria.
The Director General also used the opportunity to highlight his 4-Year Strategic Plan to guide his vision for the Agency over the next 4-year. This, he noted, will focus on Capacity Strengthening to reposition WAMA to deliver on its mandate for the ECOWAS-wide region, Data and Evidence Generation through the building of a robust database infrastructure for large, reliable and quality data, Promotion of the Utilisation of Evidence-Based Research for policy decision-making, and Strategic Communication for awareness creation on the ECOWAS single currency programme. He particularly stressed the need to have a strong database and expressed his willingness to work with the ECOWAS Commission in this regard.
HE Dr. Touray, on his part, extended heartfelt congratulations to Mr. KAMARA for his appointment as the new Director General of WAMA. He noted that, his appointment coincided with a critical period when the region needs to step up efforts towards the launch of the single currency, the ECO. He underscored the need to stick to the 2027 deadline for the launch of the ECO. He embraced the idea of the 4-Year Strategic Plan and reiterated the Commission’s unwavering support to WAMA. Finally, he requested WAMA to work closely with the Department of Economic Affairs and Agriculture to ensure that the objectives of the ECOWAS Single Currency Programme are achieved.
