Ghana has recommended creation of ECOWAS Charter on Democratic Stability and Economic Development that links democratic stability directly with economic development and Regional Investment support to defend rule of law and discourage military takeovers.
“Ghana therefore calls for the creation of ECOWAS Charter on Democratic Stability and Economic Development linking governance compliance with Regional Investment support”. Ghana’s Deputy Minister of Finance, Thomas Ampem Nyarko made the proposal when addressing the 2025 African Economic Summit in Abuja, Nigeria.
The summit, which brought together heads of state, finance ministers, and regional economic leaders, focused on advancing trade, security, and sustainable growth within the contiemergency.
Thomas Ampem Nyarko explained that the recent political instability in the sub-region go beyond insecurity to economic emergency.
“Your Excellencies, trade cannot flourish where democracy is in retreat. Investment does not land where governance is broken. The recent wave of instability and military takeovers in our region is not just a security concern — it is an economic emergency,” Hon. Thomas Ampem Nyarko stressed.
According to him, economic progress and political stability are inseparable, urging ECOWAS member states to defend democracy as a prerequisite for prosperity.
He stressed that linking adherence to constitutional governance with eligibility for regional economic benefits, investments, and infrastructure funding will be a prudent action.
“Let West African leaders recommit to constitutional order, not as an abstract ideal, but as a practical requirement for growth,” he emphasized.
He called on the summit to be remembered not just for declarations, but for decisive action:
“Let this summit be the moment we restore the covenant between economic progress and democratic legitimacy. Let the outcome reflect a forum where we agreed to trade in each other’s currencies, unlock finance to build regional roads and rails, empower our youth not with words but with funding and mobility, and spoke not as different governments but as one integrated economy with a shared destiny.”
Outlining a compelling future for the region, Hon. Thomas Ampem Nyarko envisioned a West Africa where goods move seamlessly from Abidjan to Accra, and farmers in Niamey trade freely with markets in Lomé without fear or hindrance.
He urged African leaders to create conditions where young people no longer dream of migrating abroad but instead see hope, opportunity, and prosperity within the continent.
“This is not beyond us. This is within our reach. This is the West African mandate — a call to action for political leaders, civil society, the private sector, academia, and the West African diaspora. We all have contributions to make. We all have our role to play,” he affirmed.
The Ghana’s Deputy Finance Minister again underscored the importance of developing regional value chains to process natural resources like gold, bauxite, cocoa, and lithium within West Africa.
He stressed on the opportunity presented by the African Continental Free Trade Area (AfCFTA) and urged the region to leverage its proximity to the AfCFTA Secretariat in Accra.
“We must invest in intra-African trade, not only as a continental mechanism but as a unique West African opportunity. This proximity is a regional asset that we must collectively exploit,” he concluded.
Source: Ghana/Starrfm.com.gh/Kojo Ansah
