PRESS RELEASE
The Economic Community of West African States (ECOWAS) has published the Consolidated Compilation of 2025 National Investment Reports of 10 of its Member States, showing that the region continues to attract capital amid reforms despite the difficult global climate.
Benin, Cabo Verde, Côte d’Ivoire, The Gambia, Ghana, Liberia, Nigeria, Senegal, Sierra Leone and Togo submitted their respective reports to the Technical Committee of the ECOWAS Common Investment Market (ECIM) Council in Abidjan in April 2026. Guinea and Cabo Verde’s reports were still in process.
The ECOWAS Commission, through the Private Sector and Industry Directorate, consolidated the Reports showing that Côte d’Ivoire attracted a record US$3.8 billion in Foreign Direct Investment (FDI) in 2024, Ghana attracted US$2.62 billion across 254 projects in 2025, and Togo approved 47 projects worth about US$619 million.
The reports also revealed that Benin, Côte d’Ivoire, Nigeria, Senegal, and Sierra Leone modernised their investment laws, while Member states across the region digitised investor services.
The Common strengths identified in the reports included:
- Modernised investment laws
- Digital registration and facilitation ·
- Stronger one-stop shops and aftercare
- Active (African Continental Free Trade Area) AfCFTA engagement.
The Common challenges were:
- Foreign-exchange volatility and reliance on short-term capital flows
- Infrastructure and logistics gaps
- Climate vulnerability
- Limited capacity in dispute prevention and BIT (Bilateral Investment Treaties) modernisation
- Uneven implementation of the ECOWAS Investment Code and AfCFTA Investment Protocol.
“These reports let Member States learn from each other’s reforms,” said Mr Peter Oluonye, ECOWAS Ag. Director, Private Sector and Industry. “What works in one country can be adopted across the region.”
ECOWAS Commission is expected to “build on these results towards a single, competitive investment space for West Africa, in line with the Compact of the Future’s 2035 Common Market goal,” the report added.
Key steps recommended to be taken by Member States to improve future reports, towards boosting the region’s investment portfolios and environment with the support of the Commission, are:
- Accelerating implementation of the ECOWAS Investment Code and national AfCFTA implementation strategies. ·
- Deepening digital one-stop facilitation and aftercare, with particular attention to SME access. ·
- Strengthening regional infrastructure corridors and logistics to cut the cost of intra-ECOWAS investment. ·
- Attracting more long-term greenfield and brownfield investment
- Reducing reliance on short-term portfolio flows.
- Enhancing peer learning on free-zone governance,and BIT modernisation and dispute prevention
- Improving data comparability. ##
