The Economic Community of West African States (ECOWAS) has appointed Alhaji Aliko Dangote, Chairman of the Dangote Group, as the pioneer Chairman of the ECOWAS Business Council (EBC).
ECOWAS President, Dr Omar Touray, announced the appointment on Wednesday in Abuja during the 95th Ordinary Session of the ECOWAS Council of Ministers.
According to the News Agency of Nigeria (NAN), the EBC is an independent ECOWAS platform created to strengthen the private sector, enhance regional trade, boost investment, and accelerate economic integration across West Africa.
The council is also expected to bridge the longstanding gap between policymakers and private sector players in the sub-region.
Touray said Dangote was selected because of his extensive business experience and continental footprint.
He explained that ECOWAS member states were increasingly embracing the idea of promoting intra-regional investment, pointing to several high-level investment fora held across the region this year, including:
- Forum Senegal Invest
- West African Economic Summit (Nigeria)
- ‘Invest in District Savanes’ (Côte d’Ivoire)
“This appetite for intra-regional investment underscores the need to mobilise capital within our region to build our community, rather than wait for precarious foreign investments,” Touray said.
He added, “I am confident that with the kind of investments we have seen from the likes of Alhaji Dangote, our regional private sector actors can lead the way in the development of our Community, if given the right incentives and opportunity.”
Touray further noted that the new ECOWAS Business Council would serve as a platform to bring together private sector leaders to deliberate on economic integration, regional development, and emerging opportunities within West Africa.
The Council is also expected to facilitate collaboration between private sector actors, government institutions, and ECOWAS bodies to strengthen economic growth and investment in the sub-region.