The African Development Fund (ADF) has approved a grant of 1.7 billion CFA francs to support a new project aimed at strengthening the competitiveness of the private sector across the West African Economic and Monetary Union (WAEMU). The initiative will benefit all eight member countries—Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo—while also advancing the implementation of the African Continental Free Trade Area (AfCFTA).
The project is designed to enhance economic performance by leveraging production and trade opportunities and enabling deeper regional integration within the AfCFTA market. As part of its approach, national consultations will be held with Free Trade Area committees to review progress on the AfCFTA Agreement and to develop an operational framework. This will be followed by a regional workshop to establish a shared system for accountability, facilitation, and monitoring to improve execution.
In addition, the project will provide targeted support to 80 export-ready small and medium-sized enterprises (SMEs), many of which are owned by women and youth. These businesses will receive training and guidance on export procedures, access to finance, regulatory compliance, adoption of new technologies, and sustainable production practices.
According to Lamin Barrow, Director General for West Africa at the African Development Bank Group, the initiative aims to harmonize national strategies, maximize synergies across countries, and strengthen existing mechanisms for regional integration. He also emphasized the Bank’s experience in supporting infrastructure, trade facilitation, and export diversification across the region.
The project is expected to benefit public institutions involved in AfCFTA implementation, private-sector stakeholders, and a broader population of around 147 million people. It aims to deliver tangible results by improving trade facilitation, reducing trade costs, and creating long-term trade opportunities, while also enhancing WAEMU’s effectiveness as a customs union and strengthening the role of its Regional Chamber of Commerce in representing the private sector.
