Key messages
Nigeria has successfully weathered the stress test of presidential elections. This peaceful transition has reinforced the democratisation process occurring throughout West Africa. Other crucial elections are planned in the region in the coming months.
Both the Ebola crisis and falling oil prices were a shock to the region. West Africa recorded 6% growth in 2014 and will continue the trend this year. The diversification of the economy, in agriculture and in services, will protect against external shocks.
Growth at lightning speed of mobile phone usage, reaching a penetration rate of 80% throughout West Africa, has paved the way for mobile financial services. The success of mobile payment encourages the development of innovative technologies positioned to revolutionize the financial and economic systems in the region, and make services more efficient for citizens.