Dangote appointed as the pioneer chairman on the Ecowas Business Council with a mandate to boost trade

AFRICA'S richest man Alhaji Aliko Dangote has been given a key appointment buy the regional trading bloc the Economic Community of West African States (Ecowas) yesterday when he was named as the pioneer chairman of its business council.

At the 95th ordinary session of the Ecowas council of ministers in Abuja, Alhaji Dangote was unanimously appointed as the chairman of the Ecowas Business Council (EBC), with a mandate to boost trade across the sub-region. Dr Omar Touray, the Ecowas president, revealed that the EBC is an independent platform designed to empower the private sector, boost sub-regional trade, foster investment and drive economic integration.

He added that the  EBC is there to bridge the gap between businesses and policymakers across the West African sub-region. Dr Touray explained that the choice of the Nigerian billionaire was based on his vast business experience, not just in the Ecowas sub-region, but across the African continent.

According to Dr Touray, the idea of promoting intra-regional investment was already gaining traction among Ecowas member states. He cited some economic investment forums such as the Forum Senegal Invest, the West African Economic Summit in Nigeria and the Ivorian Invest in District Savanes as examples of how West Africa is coming together economically.

Dr Touray said: “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 added that through the EBC, Ecowas would bring private sector actors together to discuss economic integration, and regional development. In addition, the EBC is also expected to facilitate dialogue and partnerships among private sector players, government agencies and Ecowas institutions.