ECOWAS Launches Powerful New Initiative with Aliko Dangote to Drive Regional Investment

ECOWAS

The Economic Community of West African States named Nigerian industrialist Aliko Dangote, widely regarded as Africa’s richest businessman, as the first chairman of its newly established ECOWAS Business Council, a strategic move to galvanize private-sector investment and deepen economic integration across the region.

The appointment, announced on Wednesday during the 95th ordinary session of the ECOWAS Council of Ministers in Abuja, reflects West African leaders’ increasing emphasis on tapping domestic capital and entrepreneurship to fuel growth and strengthen intra-regional trade.

Mr. Dangote, whose business empire spans cement, sugar, salt and petroleum products across the continent, was chosen for his experience building large enterprises in West Africa and beyond. Analysts say his network and resources could help bridge the gap between private-sector ambitions and the bloc’s broader goals of economic cooperation and development.

The ECOWAS Business Council is designed as a forum where business leaders can engage directly with governments and regional institutions to coordinate investment strategies, identify priority sectors and reduce barriers to cross-border commerce. Leaders say the council will also offer a platform to channel local capital into infrastructure, manufacturing and other projects that have historically relied on external financing.

“Intra-regional investment is growing, but we need structured platforms that bring the private sector into core conversations on economic integration,” said Omar Touray, president of the ECOWAS Commission. He cited recent regional initiatives — including investment forums in Senegal, Nigeria and Côte d’Ivoire, as evidence of rising interest in homegrown capital flows.

The move comes as ECOWAS, a 16-nation bloc that includes some of West Africa’s largest economies, grapples with political instability, security challenges and uneven growth among its members. By elevating a figure like Mr. Dangote, leaders are signaling confidence in the private sector’s ability to help navigate those headwinds.

Regional economists said the council could help lower transaction costs and improve competitiveness by fostering stronger business networks and aligning investment with regional development priorities. Still, they cautioned that success will depend on translating high-level commitments into concrete projects that benefit small and medium-sized enterprises across the subregion.

Mr. Dangote’s appointment underscores ECOWAS’s recognition that domestic investors, particularly those with extensive cross-border operations, can play a pivotal role in boosting trade, creating jobs, and unlocking growth potential within West Africa’s 400 million-person market.