Dangote Bags ECOWAS Appointment

The Economic Community of West African States has named Aliko Dangote, who heads the Dangote Group of companies, as the inaugural chairman of the ECOWAS Business Council.

This announcement was made by Omar Touray, the ECOWAS president, at the 95th Ordinary Session of the ECOWAS Council of Ministers meeting held on Wednesday in Abuja.

Dangote holds the distinction of being the world’s wealthiest black individual.

The ECOWAS Business Council serves as an autonomous ECOWAS initiative created to strengthen the private sector, enhance trade within the sub-region, encourage investment, and advance economic integration.

The council aims to serve as a connecting link between the business community and policymakers throughout West Africa.

According to Mr Touray, the selection of the Nigerian billionaire stemmed from his extensive business expertise, which extends beyond the ECOWAS sub-region to encompass the entire continent.

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Mr Touray noted that the concept of encouraging intra-regional investment was already building momentum across ECOWAS member nations.

He referenced several economic investment forums that occurred in West Africa during the current year, including the Forum Senegal Invest, Nigeria’s West African Economic Summit, and Côte d’Ivoire’s ‘Invest in District Savanes’ forum.

“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.

“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,” he said.

The president of the commission stated that ECOWAS would utilize the EBC to convene private-sector participants for discussions on economic integration and regional development.

The council will also be responsible for enabling dialogue and creating partnerships between private sector entities, government bodies, and ECOWAS institutions, among other stakeholders.