The AES emerges amid a broader geopolitical repositioning: the three member states voiced their disagreement with certain ECOWAS policies, particularly regarding sanction mechanisms and what they consider excessive pressure. They thus chose to withdraw from the West African regional bloc and establish an autonomous alliance rooted in sovereignty, inter-state solidarity, and the construction of an alternative economic space.
Since their withdrawal in January 2024, the Alliance has taken concrete steps to accelerate integration. These include the elimination of mobile roaming fees between the three countries, the development of a joint passport, and, on the trade front, the implementation of a unified 0.5% customs duty on imports from non-member countries. These measures reflect a shared ambition to build a solid regional economic foundation.
But the recent creation of the Confederal Bank for Investment and Development (BCID-AE) marks a significant turning point. With an initial capital of 500 billion CFA francs, the bank aims to finance critical infrastructure and support local industrialization.
“This project is not just a financial move, it’s a political act of sovereignty,” says international economist Magaye Gaye. “It reflects the Sahel states’ desire to finance their own development.”
To succeed, however, the AES must overcome several challenges: securing the pledged capital, attracting strategic partners such as China, the BRICS, or African sovereign wealth funds, and establishing credible governance.
“A clear strategic vision, strong expertise, and well-targeted partnerships are essential,” Gaye emphasizes.
This momentum could also reshape relations with international financial institutions.
“These banks must revise their priorities and conditions when dealing with AES countries,” Gaye argues. “These states aren’t seeking isolation but rather diversification of their support and a strengthening of their endogenous resources.”
Another initiative under consideration is the creation of a common currency. “It’s possible,” says Gaye. “These three countries alone represent 75% of the WAEMU’s landmass and 50% of its population, a significant critical mass.”
But he cautions: simply exiting the CFA franc will not be enough. Past mistakes must be avoided, particularly the excessive focus on inflation control at the expense of growth and employment.
“Economic policy foundations must be redefined: harmonizing taxation and budgets, and correcting chronically negative trade balances,” he concludes.
The AES is forging its own path not through isolation, but through accelerated economic integration and greater control over its development levers. The success of this strategy could redefine the regional economic balance, provided that ambitions are matched by means.
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