MONROVIA – Liberian-American activist Norris Johnson has called on Liberia to begin preparing for the proposed ECOWAS single currency, the ECO, warning that the country’s readiness will determine whether it benefits from the regional economic initiative expected to launch in 2027.
In a public statement, Johnson said the ECO has the potential to transform trade across West Africa by eliminating multiple currency exchanges, reducing transaction costs, and encouraging cross-border business.
He noted that the single currency could make the region more attractive to investors while creating opportunities for Liberian businesses to expand exports and strengthen local industries.
However, Johnson cautioned that the common currency would also expose Liberian businesses to increased competition from larger firms in countries such as Nigeria and Ghana, while limiting Liberia’s independent control over certain monetary policies.
He urged the government, financial institutions, and private sector to invest in business development, financial literacy, technology, agriculture, manufacturing, and workforce skills.
“The ECO has the potential to transform Liberia’s economy—but only if we stop waiting for opportunities and start preparing for them,” Johnson said, stressing that countries that fail to prepare risk being left behind.
