Alternative Sources of Financing the African Union
Commissioner Dr. Maxwell M. Mkwezalamba Meets with H.E. Dr. Luisa Diogo in Maputo, Mozambique
Addis Ababa, 3rd August 2011 – As a final step in the setting up of the High Level Panel on Alternative Sources of Financing the African Union, the Commissioner for Economic Affairs, Dr. Maxwell M. Mkwezalamba, met with H.E. Dr. Luisa Diogo, former Prime Minister and Minister of Finance of Mozambique, at her residence in Maputo, Mozambique, to deliver the letter of appointment on behalf of the Chairperson of the Commission, H.E. Dr. Jean Ping, Chairperson of the Commission. The two had a fruitful exchange of views on the very important subject of alternative sources of financing. They shared the view that the time had come for the continent to take charge of its destiny by financing its own development programmes and moving away from the almost total dependence on partners. Africa can only determine its own priorities and pursue them vigorously if the required financing is generated from within. Hence, the urgency of addressing the issue of alternative sources of financing.
Dr. Luisa Diogo is the third to be appointed as a member of the High Level Panel. It will be recalled that H.E. Olusegun Obasanjo, former President of the Federal Republic of Nigeria, and H.E Salim Ahmed Salim, former Secretary General of the OAU, had earlier accepted the invitation to serve as members of the Panel. H.E. Dr. Ruben Maye Nsue Mangue, Ambassador of the Republic of Equatorial Guinea to the AU and Chairperson of the Permanent Representatives’ Committee (PRC), in his capacity as representative of the Chairperson of the Union, will work closely with the Panel.
The acceptance by Dr. Diogo of the appointment by the Chairperson of the Commission is the final step in the setting up of the Panel, which is in line with the January 2011 Executive Council Decision EX.CL. (EX.CL/Dec.643 (XVIII) and the July 2011 Assembly Decision Assembly/AU/Dec.364 (XVII).
Now that the appointments have been completed, the next step is the convening of an inaugural meeting, scheduled for 15 August 2011 in Addis Ababa. The meeting will, among others, provide the opportunity for the Panel to review the proposed financing options and modalities for their operationalization, agree on a strategy to undertake the consultations as well as timelines.
The Panel is expected to complete its work by end October and reconvene sometime in November 2011 to adopt its report prior to its presentation to the African Union Assembly in January 2012.
Following almost a decade of discussions on this subject, it appears some progress is beginning to be made. This dossier deserves the support of all Africans and the prospects it creates for the Continent’s development are limitless.
AU Commission
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