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
ASA-CI proposes mandatory supplementary pensions for private-sector workers in Côte d’Ivoire Life-insurance penetration remains low at 0.6% of GDP in...
Rwanda introduced eKash to enable instant, mobile-accessible, and interoperable transactions across banks, mobile money, SACCOs, and...
BYD to reach 35 South African dealerships by early 2026, accelerating plan EV market share rises to 2.4%, driven by hybrids and consumer...
Government repaid about CFA1 200 billion from January to November 2025 Internal revenues reached CFA2 500 billion, equal to 105 % of...
Most Read
01

Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...

Cameroon: State Owned Telecommunication Company To Enter Mobile Money Market
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

West African universities met in Dakar to address youth employment Delegates drafted a 10-15 ...

West African Universities Draft Long-Term Training Plan to Meet Labor-Market Needs
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.