The Economic Community of West African States (ECOWAS) has announced Africa’s business magnate, Aliko Dangote, as the pioneer Chairperson of its newly established ECOWAS Business Council, a strategic platform aimed at mobilizing private sector investment and boosting economic integration across the region.

Dr Omar Touray, ECOWAS President, announced this during the 95th Ordinary Session of ECOWAS Council of Ministers meeting on Wednesday in Abuja.

Touray noted that Dangote’s extensive business experience across West Africa and Africa at large made him the ideal candidate to lead the council. “Through the Council, we hope to bring private sector actors together to discuss economic integration and regional development. The Business Council will facilitate dialogue and partnership between the private sector, governments, and ECOWAS institutions,” he said.

He said that the idea of promoting intra-regional investment was already gaining traction among ECOWAS Member States.

He cited some economic investment fora, such as the Forum Senegal Invest; West African Economic Summit in Nigeria; and ‘Invest in District Savanes’ forum in Côte d’Ivoire, which all took place in West Africa this year.

“This appetite for intra-regional investment underscores the need to mobilize capital within our region to build our community, rather than wait for precarious foreign investment.

“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 said.

The commission’s president said that through the EBC, ECOWAS would bring private sector actors together to discuss economic integration, and regional development.

The Council is also expected to facilitate dialogue and partnerships among private sector players, government agencies, and ECOWAS institutions, among others.