DECISION ON THE NOMINATION OF
H. E. NANA ADDO DANKWA AKUFO-ADDO,
PRESIDENT OF THE REPUBLIC OF GHANA AS THE CHAMPION OF THE
AU FINANCIAL INSTITUTIONS
The Assembly,
RECALLS the Abuja Treaty and Article 19 of the Constitutive Act of the African Union on the establishment of the African Union Financial Institutions, a Flagship Project of Agenda 2063.
NOTES the report of the PRC on the establishment of the African Union Financial Institutions (AUFI) namely the African Monetary Fund (AMF), the African Investment Bank (AIB), the African Central Bank (ACB), and the Pan African Stock Exchange (PASE);
EXPRESSES CONCERN of the slow pace of the establishment of the AUFI and recognized the determination of Africa to be financially self-reliant continent;
ACKNOWLEDGES the urgent need to accelerate the establishment of the AUFI to finance national and regional infrastructure deficits and ensure the successful implementation of AfCFTA;
TAKES NOTE of the ongoing study aimed at providing insights on accelerating signature and ratification of instruments creating African Union Financial Institutions.
CALLS UPON Member States that have not signed and ratified the legal instruments of AUFI to do so in order to expedite creation of these institutions;
REQUESTS the Commission to continue working with the Association of African Central Banks (AACB) and the African Securities Exchanges Association (ASEA) to implement the macroeconomic convergence criteria for the establishment of the African Central Bank (ACB) and fast-track the establishment of the Pan-African Stock Exchange;
DECIDES to appoint H. E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana as the Champion of AUFI, to provide political leadership and awareness to accelerate their establishment as scheduled in the first Ten- Year Implementation Plan of Agenda 2063: The Africa We Want.