The first ordinary session of the Council of Ministers of the West African Economic and Monetary Union (WAEMU) took place this Friday in Dakar. The meeting, held at the headquarters of the Central Bank of West African States (BCEAO), concluded with a series of decisions expected to have a positive impact on the Union.

 

"The decisions we have just adopted are strategic milestones. They reflect our constant desire to consolidate macroeconomic stability, strengthen the resilience of our economies and deepen regional integration which remains the foundation of our shared prosperity," said Aboubakar Nacanabo, Chairman of the Council of Ministers of the Union.

 

Indeed, the Board approved the Central Bank's financial statements for the 2025 fiscal year and the allocation of the financial result. Its members also approved the 2025 annual financial statements of the West African Development Bank (BOAD). The bank's 2025 annual report was also approved, and its 2026-2030 Strategic Plan was adopted.

 

"This plan should allow us to consolidate the achievements of the previous phase, while accelerating balanced development through several structuring axes," said the President of the Council of Ministers, who is also the Minister of Economy and Finance of Burkina Faso.

 

The draft Decisions adopting the strategies for the development of the private sector of the WAEMU and the promotion of public-private dialogue within the Union, for the period 2025-2030, were also validated. "These are important legal instruments promoting an attractive and efficient business environment in the Union," he assured.

 

Regarding the African Continental Free Trade Area (AfCFTA), the Union's Council of Ministers has opted for "controlled openness, continental ambition and the conquest of new growth spaces" for the Union's economies, reports Mr. Nacanabo.

He announced the renewal of the mandate of Mamadou DIOP, Vice-Governor of the BCEAO.