Guinea has become the first ECOWAS member state to officially decline participation in the proposed Eco single currency, opting instead to retain the Guinean franc.
The regional currency is expected to be launched in July 2027, although only countries that meet strict economic convergence criteria will be eligible to join in the first phase.
Guinean authorities say keeping their national currency will allow the country to maintain control over its monetary policy, manage inflation independently and respond more effectively to economic shocks.
The decision is also influenced by Guinea's trade patterns. Unlike many ECOWAS countries, a large share of Guinea's exports particularly bauxite, gold and other minerals is destined for markets outside West Africa, especially Asia, reducing the perceived benefits of joining a regional currency.
Guinea's stance highlights the challenges ECOWAS faces in creating a common currency, as member states continue to weigh the benefits of regional integration against the need to preserve national economic flexibility.
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