Professional Documents
Culture Documents
1.1 Introduction
The strategy for the economies survival of countries across the world has become very
relevant in modern times. This has brought to relevance the issues relating to Regional
Integration. It has given nations the options of cooperation and competition. It has
provided for participating states the options of promoting the best areas of specialization
whilst at the same time ceding to other participating nations products considered to be
within the purview of the strength of those other states. The fundamental idea of creating
a unified market, where products, services, and capital are guaranteed unrestricted
freedom of movement within the integrated area, is the most alluring aspect of
integration. This assurance covers the right to abode and to operate an establishment. We
as well as the emergence of new groups in the sub-Saharan African regions. The
and Western world, which have used economic integration as a tool for political and
European Union serves as the model for West Africa's economic integration approach.
The ECOWAS Treaty presents a collection that is strikingly comparable to the EU Treaty
in many ways. We live in a global village with close ties and economic engagements
across national boundaries, so it stands to reason that factors affecting the European
Union's integration process have (The first page needs to be broken down into
with its immature and underdeveloped integration experiment. This article will evaluate
and identify the factors that have made the ECOWAS experiment difficult to develop in
order to achieve the desired goals of economic integration. It will also advocate for
continuing the strategy in order to combat the sub region’s current deplorable and
intolerable economic conditions. The paper will further examine the impact of the
current EU crisis (I don’t think this is the focus of your study) through comparative
analysis, demonstrating whether or not the West African experiment can be protected
from its whims because the latter was designed along the lines of the former, and it will
The Francophone nations of Benin, Burkina Faso, Cote d'lvoire, Guinea Bissau, Mali,
Niger, Togo, and Senegal have already united under the common currency of the CFA
Franc, which is governed by the West African Economic and Monetary Union (WAEMU)
Central Bank. The West African Sub-region currently runs two currency regimes (Saleh
Nsouli, 2000). The nations of Gambia, Ghana, Guinea, Nigeria, and Sierra Leone, on the
other hand, use their own national currencies. In reaction to the CFA Franc, these
Anglophone nations established a second monetary zone (WAMZ) in 2000 with the goal of
coordinating their monetary and economic policies in order to create a unified monetary
union and currency to be known as the Eco (Nnanna Joseph, 2000). In the long run, it is
anticipated that it will be simpler for the two currencies, the Eco and the CFA Franc, to
combine into a single West African ECOWAS currency. With the sole purpose of creating a
common union to be characterized by a common Central Bank and a unified currency to be
called the Eco in place of the current 5 existing national currencies, this second group of
countries seeks to converge under what is known as the second West Africa Monetary Zone
(WAMZ). The West African Monetary Institute (WAMI) was established as a forerunner to
the Common West African Central Bank (WACB), which has all the transition and
implementation mandates as outlined, in order to lay the groundwork for the establishment
of a new Central Bank for the WAMZ that would be responsible for overseeing currency
and fiscal measures among the five nations in the second monetary zone. The second
monetary zone, originally set to launch on December 1, 2009, was delayed to January 1,
2015, and then to 2020 due mostly to member countries' failure to meet the majority of the
convergence criteria, despite earlier postponements. The new date was required as a
countermeasure to the activation and acceleration of all measures oriented towards the
fulfilment of the Eco's emergence, which would eventually lead to the emergence of the
West African common currency. Dr. Maiyaki stated that: For WAMI to propel its role in the
undertake a self-introspection, reviewing its capacity and organs, with a view to eliciting its
area of weakness and making out to strengthen same considering the new date for the take.
This was in response to the disturbing inability to meet these datelines and the current
struggles by the Countries of the WAMZ to meet with the criteria. Efforts to increase
intergovernmental collaboration and lessen the likelihood of regional disputes have been
successful over time with the many regional integration in Europe. Other initiatives have
reduced trade restrictions in the European regions and improved cross-border exchange of
capital, labour, goods, and services. Nevertheless, the sovereign debt crisis, which started in
2009 after the financial crisis of 2008, has forced nations in the Eurozone to enact austerity
measures to prevent total financial collapse, although the crisis is far from over (Mount,
2012). The EU's Economic and Monetary Union (EMU) and its crowning achievement, the
euro, have been severely tested by the recent global economic turmoil. The challenges of
the The second page will also have to be broken down into paragraphs)EU's unique political
status—no longer just a collection of nation-states but also not yet a fully realized federal
entity—are made clear by the Eurozone crisis. 2010's (McNamara). What is the anticipated
course of European integration after that? In view of the recent vote to remove Britain from
the union, what does the developing Eurozone crisis signify for the European Union's
overall geopolitical position? However, several key turning points and omens that will
The key question is whether European leaders and voters are willing to modernize their
political institutions and provide them the tools they need to prevent future political,
financial, and economic disasters. I think you should present a bit of the European model as
it is rather than raising questions. The way these problems are overcome or not will have a
significant impact on the political future of European integration as well as the experiment
integration, therefore the idea of regional integration differs greatly. Nevertheless, achieving
continental economic and political union is the ultimate goal for the majority of African
region economic blocks. According to Haas which year, nations are convinced to move their
allegiances, expectations, and political activity to a new centre of power in order to realize
the reality of regional integration. In order to establish an effective and durable framework
for regional and continental integration that can serve as an effective tool for human
development as well as regional and continental security, West Africa continues to face
In order to identify, study, and assess the growing dynamics of the known regional
international terrorism, globalization, Foreign Direct Investment (FDI) and China projects
in Africa, media and public opinion, multitude of RIAs, political leadership, State
sovereignty, donor aid dependency vis-à-vis poverty in Africa, refugees' problems, and
other emerging issues that complicate or present obstacles to regional integration in West
Africa call for a thoughtful analysis. In order to examine the new ones and determine the
future possibilities of these organizations, this can be done by evaluating the difficulties and
opportunities of regional integration in West Africa. You should also mention that political
instability, literacy levels in the sub-region and other cultural or contextual factors can make
1) What are the challenges for and prospects that limit regional integrations in Africa
2) What challenges and prospects does the Regional Integration Arrangements offer for the
3) What are the specific challenges and prospects that face EAC? Please write this
Evaluating the barriers and possibilities that impede integration in Africa with a view to
making recommendations is the study's main goal. The following specific goals are set forth:
Africa.
frameworks. 3) To look at and evaluate the obstacles to and opportunities for regional
The creation of a single economic space among the participating nations is the ultimate
objective of any economic integration agreement. Trade relations, as well as historical and
cultural linkages, may lead to financial and economic integration. Macroeconomic policies,
legal systems, and institutional structures must be harmonized in order to achieve nominal
and real convergence. West African integration has been essential and at the centre of the sub
regional leadership's political and economic vision from the post-independence era. The
leadership of the sub region was compelled to view economic integration as a key component
of their development plan due to the continent's fragmentation into small country
governments with a lack of economic coherence. The forces and difficulties of globalization
have brought this imperative ever more clearly into focus as countries, even the wealthy ones,
are constantly engaged in fierce competition for the world's limited resources. As a result, the
world's weaker countries continue to experience unjustified relegation and neglect. It's
notable that even the so-called advanced nations use the integration strategy to strengthen
The progress of the fifteen ECOWAS nations varies significantly. Regarding the
implementation and timeline for removing customs obstacles, there are likewise three distinct
groupings. The first group consists of the wealthiest and most developed nations, including
Nigeria, Ghana, Senegal, and Ivory Coast. The remaining eleven nations make up the second
group. Togo, Benin, Sierra Leone, Liberia, and Guinea-Conakry have been classified as an
intermediate group. The Revised ECOWAS Treaty states that the community's goal is to
"promote cooperation and development in all fields of economic activity, with the purpose of
increasing and maintaining economic stability, fostering closer ties among members, and
contributing to progress and development on the African continent." The treaty, however,
does not mandate monetary union for the member states; rather, it offers monetary policy
harmonization, which is necessary to make sure that the community runs smoothly. In order
to accomplish this, the central banks of the ECOWAS States established the West African
Clearing House (WACH) in 1975, which was later changed into the West African Monetary
Agency (WAMA), an autonomous specialized agency of the ECOWAS with a foreign base.
In order to ensure an equitable division of the benefits and expenses of integration among the
community's many member states, a cooperation, compensation, and development fund was
also established. However, numerous research and reports on ECOWAS attest to the
ineffectiveness of this group. In light of this, "the desire to tackle everything only means that
nothing is done with no political resources and only limited financial resources." The African
Development Bank (AFDB) notes that ECOWAS's accomplishments and the development of
a system of collaboration have both been comparatively meagre in its report on the challenges
of integration in Africa. Trade inside the community hasn't been sparked, and it even appears
Impediments to escalating trade and monetary issues are examples of economic difficulties.
Member state weakness and even a lack of political will are examples of political difficulties.
Despite the fact that there are more than 20 multilateral cooperation schemes and sub-
groupings in West Africa (excluding various bilateral agreements between West African
States) and the obvious benefits of economic cooperation among member States, problems,
challenges, and obstacles that stand in the way of the achievement of the ECOWAS
• The realization of the integration dream in the West African sub region is severely
hampered by the lack of adequate infrastructure in the form of roads, energy, power, rail,
telecommunications, and other links for the facilitation of the free movement of goods,
The fundamental cause of this predicament is the prevalence of weak industrial and
productive sectors in the majority of the member states, which is mostly caused by
desires to pool their resources in order to achieve competitive advantages within the region.
The bigger issue here, though, is that establishing contacts with another country is difficult in
• It is undeniable that the legal framework for the West African integration scheme lacks a
clear role for financial institutions, which has remained at the core of the reasons why the
long-awaited integration of the states of West Africa still exists only as a mirage. The treaty's
evaluation reveals a glaring lack of the provisions required to define and grant the respective
financial institutions specific roles and parameters sufficient to give them the formal
intervention edge needed to facilitate the essential provision of funds and policy to finance
and control the integration scheme's ambits to its intended destination. This trend has played
a significant role in the financial institutions' lack of urgency in addressing the integration-
related concerns. As things are, the financial institutions address the integration problems in a
random and discordant manner. The issue that the financial institutions face as a result of the
ECOWAS member states' failure to create a framework of cooperation runs parallel to the
aforementioned. One such system of collaboration is the creation of a shared monetary and
customs system, which will assist the sub-region expand its market and strengthen its
common currency. This has not been accomplished, and as can be seen at the borders, each
member nation of the sub-region still imposes its own customs tariff. As a result, there hasn't
been any increase in local trade, and given the way things are going, it may even be
declining. The ability of the financial institutions to develop productive areas of cooperative
engagement lowers as commerce declines. Further observation shows that the absence of a
unified Central Bank for ECOWAS limits the ability of financial institutions to carry out their
duty in the economic integration of West Africa. It is a well-known fact that the European
Central Bank (ECB) performed a key and pivotal role in the fields of monetary and economic
policy coordination, which made it possible for the member states of Europe to create a single
currency with ease. The shared Central Bank of West Africa States (BCEAO), which was
founded by the francophone countries of the sub region, had a sustained intermediation role
in helping the WAEMU countries reach their current level of macroeconomic stability.
However, because of inadequate processes and a lack of initiative on the part of the
The West African sub-region's states don't speak the same language, which creates
linguistic complexity and gives rise to a variety of institutions, some of which are unique to
the language group. Even though it wasn't necessary, it would have been preferable to have a
single language platform in the area to lessen the barriers to lobbying and communication. In
West Africa, language has the regrettable ability to create barriers between people who view
one another as unique and unchangeable. The goal of the Economic Integration initiative is to
unite diverse individuals in order to take benefit of one another's respective advantages and
disadvantages. It is obvious that the locals' attitudes toward the language diversity haven't
exactly been helpful. The stark division between the colonial languages of English and
French is of much greater significance. When it comes to achieving the sub region’s
economic liberation, the influences of these two languages and the related colonial overlords
• Many ECOWAS nations have experienced poor administration, political instability, and a
lack of political will on the part of some member state leaders. The integration project is still
in its infancy after more than 40 years. No country in the sub region has demonstrated
leadership, and everyone still holds the others in low regard. There is no denying that the
clear and unwavering commitment of member states beyond lip service and signing treaties
or protocols is a sine qua non for the formation of a meaningful integration experiment in the
sub area given that integration requires the cession of a certain amount of sovereignty. Our
staunch stance on sovereignty. The development of a new genre toward this unexplored
technique is desirable, and it is especially necessary for the larger countries in the sub region,
like Nigeria, to take the initiative and exercise leadership, otherwise the entire endeavour
hampered by the existence of colonial links, different and unique administrative systems, as
well as the persistence of both local and international interests in maintaining the status quo.
A significant obstacle is the former colonial metropoles' meddling in the socio-political
affairs of West African nations in order to pursue and maintain the maintenance of Africa's
and/or threats to deter potential members from upholding agreements. Each actor therefore
views the threat or inducements as being more advantageous than the cost or gain of adhering
to regional agreement.
• The existence of several tariff arrangements with various customs duty rates and the over-
dependence of many West African countries on revenue from import tariffs constitute yet
another significant barrier to the integration plan. This is demonstrated by the fact that tariffs,
which represent one of the main spheres of integration, are still highly discriminatory and
• Another obstacle to the integration approach is the existence of various currencies, some of
which are difficult to exchange. It is true that the idea of monetary integration is gaining
ground more quickly and offers a quick implementation framework when the integrating
nations agree to adopt the same currency, as this would open the door to convertibility,
unrestricted trade in goods and services, as well as the ability to pay customs duties.
Therefore, the member nations' continued use of their different currencies presents issues
with payment systems and convertibility, which in turn makes interstate business transactions
more challenging. Without a doubt, this impeded scenario delays West Africa's economic
integration's goal.
• The ongoing disputes, wars, and unrestrained violence provide another significant problem
because they have reduced the sub-region's ability to survive. Examples include the violence
in Liberia, the strife in Sierra Leone, the illegal coup in the Niger Republic, and most recently
the approaching Gambia election problem. Since there have been so many violent conflicts in
West Africa, famine, drought, damage, refugee issues, diseases, etc. are frequent occurrences
in the socioeconomic landscape. African conflicts have increased poverty on the continent,
infrastructure, and depleted human capital. Conflicts in the sub region have also made it more
difficult for the nation, the region, and the continent to concentrate on integration and
development, and adversely affected the prospects for achieving the MDGs (Eleazu, 1978).
Therefore, in the long run, the enormous untapped cash that was intended to be utilized for
integration objectives is directed toward reconstruction in these nations that have been
devastated by war and drought. States find it challenging to focus and unite as a result.
• Another significant obstacle to the achievement of the ideal of integration is the tacit fear of
and natural resource endowment, Nigeria dominates all other nations in the area. The claim is
that Nigeria will gain more from the integration approach than any other nation in the sub-
region and might become the market's most dominant nation. The French tends to provoke
this fear of domination as they strive to maintain their sphere of influence in the sub-region. 1
• The fact that ECOWAS member countries do not support or patronize one another to
increase trade in goods and services, as most of the goods that are produced by member
countries are still imported from outside the sub-region, has presented a major challenge for
the organization. This has made it easier for member nations to rely on external markets.
• The leaders of the ECOWAS member states' attitudes toward national sovereignty are
another obstacle. These leaders have differing ideologies and psychological traits. Being
newly independent, the majority of states had a strong desire to uphold and demonstrate their
national sovereignty and integrity in relation to other African States. The adoption of national
1
Vuho C.V Op. cit
currencies, national central banks, national airways, national shipping lines, national stock
exchanges, etc. was a result of this tenacious grip on sovereignty. Although these were
regarded as the physical representations of nationhood and sovereignty, they evolved into
• Leaders in Africa are likewise quite concerned about the continent's debt problem. The
capacity for economic integration in Africa is harmed by the effects of the debt crisis and the
have taken on a terrifying scale in the area as a result of the debt issue (Fawole, 1992). At the
end of 2004, the entire amount of outstanding debt was estimated to be $330 billion in
nominal terms, and African countries were still making payments of more than $30 million
per day on loans taken out over the previous 30 years. As a result, African nations divert
precious resources from economic and the social sectors and instead use them to pay off debt.
Currently, it is expected that the daunting issues of external debt and the accompanying SAP
packages imposed by the IMF will be enough to wreak unimaginable havoc on the already
weakened economies of West Africa, preventing the achievement of both regional and
• Another issue is that member nations frequently neglect to include the business sector, mass
movements, and civil society in the integration process, which exacerbates the flaws in the
integration mechanism. The community's citizens are not properly informed about its goals,
and the state and local governments do not offer any encouragement to the community's
private sector and civil society to ensure that they have a better understanding of one another
and can work together more effectively to achieve the community's goals. In light of the
foregoing, it can be concluded that West Africa's growth is largely constrained by social,
political, and cultural issues. This has posed the biggest challenge to the fulfilment of
regional cooperation and integration. 6. West Africa's Integration Prospects and Strategic
Visions has noted that the current political unrest, economic stagnation, and social unrest in
Africa are symptoms of a leadership crisis. If this is true for individual nations, it is also true
for the process of regional integration. The emergence of greater leadership could provide the
direction and vision required as well as serve as an example of the sacrifice and dedication
required in any cooperative venture. But not all nations have the same understanding of the
value of collaboration. It appears that certain people need to be encouraged, convinced, and
pushed ahead by others. One wonders why finding a solution to the issues has not been the
top priority of ECOWAS member states given the benefits that can be obtained from West
African economic cooperation and the fundamental role that it could play in the development
of each African nation. In reality, proponents of further regional economic integration have
convincingly shown that the "essential criteria on which the arguments and conclusion
against ECOWAS are built on some of the exact factors which the West African countries are
desirous of changing through economic integration. Several leaders and nations in West
Africa have the good fortune to share a strong commitment to the vision of regional
integration. In order to fulfil their financial duties to the community, some member states
have always been more diligent than others. The more dedicated states have taken the
compensation formulas for the loss of tariff revenue, some community arrangements have
required special sacrifices from some member states; the acceptance of these arrangements is
a glaring example of solidarity and community spirit. According to some analysts, West
Africa must embrace a flexible type of regional cooperation carried out pragmatically and ad
hoc basis due to the region's low economic development and some countries' disregard for
regional integration under ECOWAS. This claim has been backed up by the achievements of
the Southern African Development Community (SADC), the Association of South East Asian
Nations (ASEAN), and the loose agreement with the Latin American Economic System
(SELA). Analysis of West Africa's integration experience within ECOWAS reveals a dismal
track record in terms of the poorly carried out community projects. The terms of the amended
treaty establishing the supranationality principle are not being implemented. A number of
protocols are broken, especially those that deal with the free flow of people and products. The
current state of affairs demonstrates all too plainly how vitally inadequate a plural-national
community's sense of belonging is. The degree to which the Executive Secretariat succeeds in
advancing West Africa's development will determine the success of ECOWAS initiatives and
the political commitment of member states. This fundamental idea emphasizes the necessity
of cogent community initiatives and policies that are realistic, practical, and capable of
advancing regional integration. To that purpose, programs emphasizing the advantages will
need to be developed for collective action. The Executive Secretary will need to identify the
top priority intervention areas within which steps will be taken in conjunction with particular
state efforts. While overall ECOWAS's efforts to integrate West Africa have, as already
mentioned, plainly fallen short of expectations, there are some encouraging signals that point
to greater future prospects for ECOWAS. These include things like "recent events in West
Africa's political and economic scene, which have gradually helped to remove the main
• The gradual withdrawal of the state from sectors of productive activity and the recognition
that the private sector must be the mainstay of growth and economic integration;
• The adoption of a strategy for accelerating the ECOWAS process of integration in order to
create a single regional market based on trade liberalization, to establish a single market for
• Restructuring of the ECOWAS Fund and Executive Secretariat with an eye toward
• West Africa appears to have the institutional framework required to advance regional
integration with the passage of the African Economic Commission (AEC) treaty and the
amendment of the ECOWAS treaty, but the future direction and success of that process
replacing the region's weak, non-transferable domestic currencies with a single regional
• Since the lack of stable and coherent policies in these areas makes regional integration less
successful in other ways, regional integration should also include collaboration in the social,
cultural defence and political spheres. The need for comprehensive examination of these
other aspects of regional integration is well demonstrated by developments in the EU. This
section looks okay but I will suggest you beef it up a bit. Also please organize it according to
3.1. Conclusion
The Economic Community of West African States (ECOWAS) has laid out a hydra-headed,
multifaceted integration plan of integration for the States through the treaty in areas of
possible cooperation between themselves. When implemented, this plan would ultimately be
the driving force behind all of their successful endeavours. In order to establish a
development index or barometer for the West African sub-region, these categories appear to
have primarily encompassed the entirety of the most strategic national human endeavour
desired under any economic integration program. Without a doubt, the accomplishments that
would be noted in these areas would indicate that the West African sub-region's development
economic collapse of 2008, which has highlighted the problems with their unified currency,
the euro. The prolonged financial crisis caused by the European debt crisis has made it
challenging for several Eurozone nations to refinance their sovereign debt without the help of
outside parties. Despite the austerity measures implemented to prevent the Eurozone’s
catastrophic financial collapse, the crisis is far from over. There can be no denying that the
countries of West Africa have little to no choice but to join in given the heated competition
among countries to maximize their market advantages over rivals through the policy of
integration. Even the prosperous nations of the world, which would have otherwise been
complacent, are embracing the plan to sharpen their advantages over and above their
competitors, therefore these nations must embrace this alternative totally and with unrelenting
devotion. It would appear that Africa's choice for regional economic union is essentially non-
existent for West Africa to catch up with this race. It is even more concerning when you
consider that other international integration experiments not only rely on the internal markets
they have developed through integration, but also unfairly benefit from the large and plentiful
markets that are prevalent in West Africa at the expense of the West African countries. The
production and manufacturing base and potentials of the region have been practically
destroyed by this crippling and unacceptable status quo, which has, in the long run, reduced it
to a consumption economy that depends on imports from markets that are already subject to
Thus, it follows logically that the West African people, governments, and countries have an
excellent opportunity to drastically alter their mind-set and adopt the strategy of economic
integration as a solution to the myriad socioeconomic and development issues that have long
plagued the region. To propel this process and put the region's people out of poverty and
misery, ECOWAS and its institutions need to be well-positioned, well-funded, and given the
authority to do it.
The conclusion should re-cap the purpose of the research with the various research
objectives. Then paragraph by paragraph, let us know what you found according to the
various research objecties. You also need to make some recommendations. This means you
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Nnanna Joseph, O. (2000). Monetary Integration in ECOWAS: The case of the West African
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