Public Management

AES Reveals New Investment Bank and Stabilization Fund Projects

AES Reveals New Investment Bank and Stabilization Fund Projects
Monday, 16 September 2024 16:49

On September 16, 2023, Mali, Burkina Faso, and Niger signed the Liptako-Gourma Charter, creating the Alliance of Sahel States (AES). A year later, this confederation unveiled new projects to deepen their integration, including a new passport system.

Yesterday, Colonel Assimi Goïta, the president of AES, announced the implementation of new initiatives to strengthen the integration of the three member countries. He announced this during a speech marking the organization's anniversary.

According to the leader, the projects are part of a strategy to pool efforts in key areas like investment, taxation, and natural resource management. The AES plans to establish an Investment Bank and a Stabilization Fund. However, details about the structure and funding of these institutions were not provided. The AES also aims to develop infrastructure to improve transportation, telecommunications, and information technology across their regions.

Another major project is the introduction of new biometric passports. This move aims to standardize travel documents within the AES and is expected to end the production of ECOWAS-branded passports in these countries. Earlier in September, Burkina Faso announced a new electronic passport system developed by the Chinese company Emptech, meeting the latest International Civil Aviation Organization (ICAO) standards.

Since the military took power in Mali, Burkina Faso, and Niger, these countries have shifted towards an anti-French and integrationist stance. They have left ECOWAS, which they accuse of being influenced by Western powers, and moved closer to Russia. By forming the AES, they aim to collaborate on counter-terrorism efforts and create a confederation.

"True to our commitment to African integration, the confederation remains open to all sub-regional and regional partnerships that respect non-interference and sovereignty," Goïta said. "We envision the AES as not just a state alliance but a people’s alliance," he added.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took over Servair's Ivorian fast-food business hours...
Bank of Africa Senegal Q1 profit rises 9.7% to 5.7bn CFA Revenue and interest income growth drive higher operating income Loans, deposits...
Fidelity Bank raises 227 billion naira from share placement Central bank review trims oversubscribed offering to 87.7% Bank exceeds 500...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inflation and restore access to foreign currency IMF...
Most Read
01

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
02

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
03

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
04

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
05

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.