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The private sector department is one of the new departments
created under the transformation process of the ECOWAS
Commission, thus, it came into being with the commission on
1st January, 2007. The department operates, along
with two other departments - multilateral surveillance and
research/statistics - under the general supervision of the
commissioner responsible for macro-economic policies.
The new department is responsible for the realization of
ECOWAS aims and objectives relating to the promotion of the
regional business climate, cross-border investments, joint
venture businesses and small and medium enterprises in order
to contribute to the achievement of a competitive, dynamic
and diversified regional economy that is preferred by
investors. Specifically, the mandate of the Department
includes the following:
-
Improve the investment climate in the region to expedite the
growth of domestic investment and attract foreign investment
in order to achieve the structural transformation of the
regional economy and foster the overall socio-economic
development of the Member States;
-
Enhance the competitiveness of the regional private sector
through promoting good corporate governance, supporting the
provision of business development services, establishment of
guarantee institutions and promoting the development of
indigenous entrepreneurship and micro/small/medium
enterprises (MSMEs) to foster pro-poor economic growth and
sustainable development in the region;
-
Facilitate the involvement of the private sector in the
regional integration process through support to regional
private sector institutions and the creation of relevant new
ones. Promote harmony and synergy among the activities of
the institutions and facilitate consultations amongst the
organized private sector in the region, and with the
organized private sector in other regions of the world to
enhance exchange of information;
-
Promote the development of a viable regional capital market
with strong linkages in all member states to facilitate the
mobilization of investment capital and wealth creation;
-
Facilitate the establishment of multi-national joint
ventures and Community enterprises in the region to promote
employment and sustainable inclusive growth. Facilitate
public - private partnerships to promote regional
investment;
-
Encourage West African entrepreneurs to develop and maintain
links with Diaspora groups, relevant continental and
international bodies, south - south bodies, institutions,
etc to attract investment and its associated benefits to the
regional private sector. |
