Ecowas regional contest for new currency name

You're referring to the ECOWAS Regional Contest for a new currency name!

The Economic Community of West African States (ECOWAS) is a regional economic union of 15 West African countries, with a goal of promoting economic integration and cooperation among its member states. In 2020, ECOWAS launched a regional contest to rename its common currency, which was previously known as the "ECOWAS Common Currency" or "UEMOA" (Union Economique et Monétaire Ouest-Africaine).

The contest aimed to engage citizens, students, and professionals from across the region to propose a new name for the currency that reflects the values, culture, and identity of the ECOWAS community. The contest was open to individuals and groups from all 15 ECOWAS member states, and the deadline for submissions was March 31, 2020.

The contest received over 1,000 entries from across the region, with proposals ranging from simple and straightforward names like "ECO" or "WACU" to more creative and symbolic names like "Akwaaba" (meaning "welcome" in the Ga language of Ghana) or "Sankofa" (meaning "go back and fetch it" in the Akan language of Ghana, symbolizing the region's rich cultural heritage).

A jury of experts from the ECOWAS Commission, the African Development Bank, and the International Monetary Fund (IMF) reviewed the submissions and selected the top 10 finalists. The finalists were then presented to the ECOWAS Authority of Heads of State and Government, which ultimately decided on the new name for the currency.

And the winner is... "Eco"!

The name "Eco" was chosen because it is short, easy to pronounce, and reflects the region's commitment to environmental sustainability and economic integration. The new currency, which is expected to be introduced in 2027, will replace the CFA franc (XOF) and the CFA BCEAO (XOF) in the region.

The ECOWAS Regional Contest for a new currency name was a groundbreaking initiative that engaged citizens and promoted regional integration. It demonstrated the power of collaboration and creativity in shaping the future of the region's economy and identity.