ECOWAS

and
COMESA
Brief Introduction….
 ECOWAS
• The Economic Community Of West African States (ECOWAS) is
a regional group of fifteen countries, founded in 1975.

• ECOWAS has been designated one of the five regional pillars

of the African Economic Community (AEC). Together with
COMESA, ECCAS, IGAD and SADC, ECOWAS signed the
Protocol on Relations between the AEC and RECs in February
1998.
 Fundamentals :
• ECOWAS was formed for mainly economic cooperation
amongst its members. It was formed on the initiatives of late
President Gnesingba Eyadema and General Yakubu Gowon
(then rulers of Togo and Nigeria respectively.)

• The ECOWAS Treaty was signed in Lagos in May, 1975.

 PAST N PRESENT CHAIRMAN OF ECOWAS

2006/2008 S.E. CAPT. BLAISE CAMPAORE BURKINA FASO

2008/PRESENT S.E. UMARU YAR'ADUA NIGERIA

 Members countries :
The Republic of BENIN
BURKINA FASO
 The Republic of CABO VERDE
 The Republic of COTE D'IVOIRE
 The Republic of GAMBIA
 The Republic of GHANA
 The Republic of GUINEE
The Republic of LIBERIA
 The Republic of MALI
The Republic of NIGER
 The Federal Republic of NIGERIA
 The Republic of SENEGAL
 The Republic of SIERRA LEONE
Republic  TOGOLESE
 Mission Statement :

• to promote “economic integration in all fields of economic

activity, particularly industry, transport,
telecommunications, energy, agriculture, natural
resources, commerce, monetary and financial
questions ,social and cultural matters.”
 Objectives of ECOWAS :
• Short term objective ;

“Improvement and strengthening of the

WACH mechanism to facilitate increased intra-regional
trade and payments transactions through greater use of
national currencies.”
 Objectives cont.
• Medium and Long term ;

• Achievement of limited convertibility

• The creation of a Single Monetary Zone
 Challenges ahead :
• Poor Democratic Governance
• Corruption
• The Influence of Neo-Colonialism
• Conflicts (Intra and Inter State)
• Poverty
• Military Incursion
• Small Arms and Proliferation
• HIV/AIDS Epidemic
• Trans Border Crime
• Environmental Degradation
• Terrorism
 Institutional measures :
The Institutions of the Economic Community Of West
African States (ECOWAS) are as follows:
• The Commission
• The Community Parliament
• The Community Court OF Justice
• ECOWAS Bank for Investment and
Development (EBID)
COMESA
 Basics
• The Common Market for Eastern and Southern Africa -
promoting regional economic integration through trade
and investment.
Population 400 million (2008)
Members 21
Area 12 million (sq km)
 Member States :
• Burundi • Madagascar
• Comoros • Malawi
• D.R. Congo • Mauritius
• Djibouti • Rwanda
• Egypt • Seychelles
• Eritrea • Sudan
• Ethiopia • Swaziland
• Uganda
• Kenya
• Zambia
• Libya
• Zimbabwe
 Benefits to Members :
• A wider, harmonized and more competitive market
• Greater industrial productivity and competitiveness
• Increased agricultural production and food security
• A more rational exploitation of natural resources
• More harmonized monetary, banking and financial policies and
• More reliable transport and communications infrastructure 
 Programs for Goal Achievements :
• Trade policy
• Trade Facilitation
• Multilateral Transport
• Information Communication Technology (ICT)
• Energy
• Private Sector Development
• Investment Promotion and
• Gender Mainstreaming.
 COMESA Institutions

Several institutions have been created to promote sub-regional co-

operation and development. These include:
• The COMESA Trade and Development Bank in Nairobi, Kenya
• The COMESA Clearing House in Harare, Zimbabwe
• The COMESA Association of Commercial Banks in Harare,
Zimbabwe
• The COMESA Leather Institute in Ethiopia
• The COMESA Re-Insurance Company (ZEP-RE) in Nairobi,
Kenya
 Trade Promotion

Other objectives which will be met to assist in the achievement of

trade promotion include:
• Trade liberalization and Customs co-operation
• Improving the administration of transport and communications
• Creating an enabling environment and legal framework which
will encourage the growth of the private sector
• The harmonization of macro-economic and monetary policies
throughout the region
THANK YOU…!!!