Highlights: Withdrawal of Mali from ECOWAS: “The economy is taken hostage”, according to the boss of the Kledu group. Transitional Prime Minister Choguel Maïga is due to meet “private sector actors” this Wednesday to answer their questions. Concerns of Malian employers about the consequences of this withdrawal for their activities are very strong, says Mamadou Sinsy Coulibaly, a former representative of the Malian Employers.

Transitional Prime Minister Choguel Maïga is due to meet “private sector stakeholders” this Wednesday to answer their questions after the announcement this Sunday of Mali’s withdrawal, jointly…

Withdrawal of Mali from ECOWAS: “The economy is taken hostage”, according to the boss of the Kledu group

Transitional Prime Minister Choguel Maïga is due to meet “private sector actors” this Wednesday to answer their questions after the announcement this Sunday of the withdrawal of Mali, jointly with Burkina and Niger, from ECOWAS. However, the concerns of Malian employers about the consequences of this withdrawal for their activities are very strong.

Former representative of Malian employers, Mamadou Sinsy Coulibaly heads the Kledu group, with activities in the media, industry, services and agriculture. © Yves Forestier/Jeune Afrique

By: RFI Follow

Mamadou Sinsy Coulibaly is one of the main economic operators in Mali. A former representative of Malian employers, he heads the Kledu group, with activities in the media, industry, services and agriculture. His first concern concerns the future cost of trade.

How are we going to do this ? ECOWAS is our working tool. If we leave ECOWAS, we have more access to the ECOWAS internal market, we have more preferential rates. We will be forced to pay customs, taxes for other countries... How will we be able to sell and export to other ECOWAS countries?

And in the opposite direction, that of imports, the consequences will be felt mechanically, according to this business leader, on all Malian consumers. “

If we add customs tariffs, we will pass that on to the production price and offer that to the Malian population. Will they be able to buy? Won't it be inflation in our country? And if there is inflation in the country, the first to suffer is the private sector. Then, the population will pay much more. The economy today is being held hostage.

Mamadou Sinsy Coulibaly is also concerned about the access of the private sector to financial markets, while interest rates have already exploded since the start of the transition period, or even about the dissuasive effect that the withdrawal of ECOWAS could have on investors, whatever their origin. Particularly due to the decline in competitiveness of the Malian private sector and the unpredictability of such a decision.

For his part, regarding the subject of the rights of establishment and movement of people, Malian Minister of Foreign Affairs Abdoulaye Diop recalled on state television ORTM Monday evening that provisions exist within of UEMOA (West African Economic and Monetary Union), which brings together eight countries and which Mali has not left. And that for ECOWAS countries which are not members, bilateral discussions must be held.

Withdrawal of Mali from ECOWAS: “The economy is taken hostage”, according to the boss of the Kledu group

Withdrawal of Mali from ECOWAS: “The economy is taken hostage”, according to the boss of the Kledu group

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