Fewacci Economic Integration
FEWACCI EXPERIENCE ON DEEPENING REGIONAL ECONOMIC INTEGRATION
FEWACCI plays an important role in promoting intra-regional partnerships through harmonization of private sector activities, development of value chains, regional projects, promotion of joint venture in all sectors, promotion of good corporate governance, building the capacities of stakeholders, harmonization of business laws within the region, etc. FEWACCI is a key member of “ECOWAS Regional Business Association” as well as serving as the regional public private dialogue platform.
FEWACCI also plays a role in aiding ECOWAS strategy for deepening regional economic integration through advocacy, surveillance of selected ECOWAS policy and protocols like free movement of people, goods and services, partnership for investments in integrative projects with all operational guarantees as well as the necessary diplomatic and political support, language training and implementation of agreed programmes for improving business climate, competitiveness and fostering innovation.
The Founding Fathers of FEWACCI identified regional projects in the areas of banking, aviation and maritime sectors whereby all Member States are represented in the project. This led to the establishment of Ecobank Transnational Incorporated, a leading regional financial institution. Also, in similar fashion, FEWACCI also facilitated the creation of Asky Airline which is also a leading regional airline in the West African region.
As an ongoing priority project, the Sealink (ECOWAS Shipping Line Project) is a sponsored by FEWACCI and Nigeria Export Import (NEXIM) Bank. The countries concerned include Cote D’Ivoire, Ghana, Togo, Benin and Nigeria. The objective of the project is to setup a transnational shipping company in West Africa building from the setting up of a transnational bank (Ecobank) in which FEWACCI played a lead role. The purposes of the project are to provide a reliable, affordable and efficient transport service of goods and passengers within the region, linking all the capital cities on the coastline, with an extension to Cameroon in Central Africa.
Also, as a regional organization depending on Membership Subscription, FEWACCI is facing some financial challenges to support and develop its projects.
However, FEWACCI is the perfect platform to work and engage with the Public Sector, Private Sector, International Organization and Partners for access to ECOWAS single market. There is no similar network to FEWACCI with local network