Western Africa states which are represented by Economic Community of West African States (ECOWAS), a commission comprised of countries of 15 States with an equivalent of 300 million people. These numbers account for 4.5% of the world‘s population and just 0.5% of the world Gross Domestic Product (GDP). With an anticipated annual economic growth averaging approximately 5%, ECOWAS is now exploring the opportunity to create a single currency for ECOWAS member‘s states mirroring the Euro for European countries.