At its first ordinary session of 2026, the Council of Ministers of the West African Economic and Monetary Union approved the Central Bank of West African States’ report on the Union’s economic and monetary situation as at 31 December 2025, endorsed the central bank’s 2025 financial statements and allocation of the financial result, and renewed Vice-Governor Mamadou Diop’s mandate. The ministers noted robust economic growth of 6.7% in 2025 (after 6.2% in 2024) and a fall in full-year inflation to 0% (from 3.5% in 2024), alongside an improvement in external accounts reflected in a higher overall balance of payments surplus. The outlook was described as favourable, with growth expected at 6.4%, supported by extractive and manufacturing industries, commerce and services, and the agricultural campaign. The Council also adopted decisions on the nomination and renewal of member states’ representatives to the Financial Stability Committee in the West African Monetary Union (CSF-UMOA), approved the West African Development Bank’s 2025 annual report and accounts and its 2026–2030 strategic plan, and adopted multiple UEMOA Commission strategies for 2026–2030, including an African Continental Free Trade Area implementation-focused competitiveness strategy to be operationalised through a 2026–2030 action plan. Mamadou Diop’s renewed five-year term as vice-governor takes effect on 1 May 2026.
Central Bank of West African States 2026-03-27
UEMOA Council renews Central Bank of West African States vice-governor mandate and approves 2025 accounts
The Council of Ministers of the West African Economic and Monetary Union approved the Central Bank of West African States’ report on the Union’s economic and monetary situation as at 31 December 2025, endorsed its 2025 financial statements and allocation of results, and renewed Vice-Governor Mamadou Diop’s mandate for a further five-year term from 1 May 2026. Ministers highlighted 2025 real GDP growth of 6.7% (after 6.2% in 2024), inflation falling to 0% (from 3.5%), and an improved balance of payments surplus, and described the 2026 outlook as favourable with growth projected at 6.4%. The Council also renewed and nominated member states’ representatives to the Financial Stability Committee, approved the West African Development Bank’s 2025 annual report, accounts and 2026–2030 strategic plan, and adopted several 2026–2030 strategies of the UEMOA Commission, including an African Continental Free Trade Area implementation-focused competitiveness strategy.