Connect with us

Health

PRESIDENT AKUFO-ADDO NAMED “CHAMPION OF THE AFRICAN UNION FINANCIAL INSTITUTIONS

Published

on

 PRESIDENT AKUFO-ADDO NAMED “CHAMPION OF THE AFRICAN UNION FINANCIAL INSTITUTIONS

The 33rd Ordinary Session of the Assembly of Heads of State and Governments of the African Union has appointed President Akufo-Addo as “Champion of the African Union Financial Institutions.”

The decision of the Assembly was made on Monday, 10th February, 2020, in Addis Ababa, Ethiopia, by the Chairperson of the AU, His Excellency Cyril Ramaphosa, President of the Republic of South Africa.

Advertisement

The creation of African Union Financial Institutions is one of the flagship projects of Agenda 2063, aiming at accelerating integration and socio-economic development of the continent.

The agreed timeframes in the first 10-Year Plan of Agenda 2063 were for the African Investment Bank and Pan African Stock Exchange to be established by 2016; the African Monetary Fund by 2018; and the African Central Bank and Single African Currency by 2034.  

Whilst thanking the Assembly for the honour of the appointment, President Akufo-Addo stated that the “establishment of the AU Financial Institutions has always been at the centre of our agenda for continental integration, and that is why, over the years, we have adopted a treaty and several legal instruments to that effect.

Advertisement

Currently, only twenty-two (22) Member States have signed the African Investment Bank (AIB) charter, with only 6 ratifications obtained, whilst twelve (12) countries have signed the African Monetary Fund charter, with only one (1) ratification. At least, nine (9) more countries are needed to ratify the AIB charter for it to enter into force, and, in the case of the African Monetary Fund, fourteen (14) ratifications.

 “The task to ensure these are done will be one of my immediate priorities. I will see to it that Ghana ratifies these charters promptly upon my return to Accra,” the President said.

 He continued, “the establishment of the African Union Financial Institutions is critical for not only enhancing resource mobilization on the continent, but also for providing the necessary impetus for growth and jobs creation. Their establishment are crucial for the effective implementation of the African Continental Free Trade Area (AfCFTA), and for achieving Agenda 2063: ‘The Africa We Want’. Financing our own development agenda remains our primary goal, and will require bold commitments from us.”

Advertisement

Amongst others, President Akufo-Addo pledged to ensure the prompt ratification of the various charters establishing the Financial Institutions; help take, under the direction of the Assembly, all necessary steps to facilitate the creation of the continental financial architecture essential for the realisation of AU Agenda 2063 and the integration process of the continent; and work with the host countries, i.e. the Republic of Cameroon for the African Monetary Fund, the Federal Republic of Nigeria for the African Central Bank, and Libya for the African Investment Bank towards their establishments.

The Article 19 of the Constitutive Act of the African Union provides for the creation of three institutions namely the African Central Bank, the African Monetary Fund and the African Investment Bank. Furthermore, in January 2006, in Khartoum, Sudan, the Commission was requested by the Assembly of the African Union (Assembly/AU/Dec.109), to conduct a feasibility study on the creation of a Pan-African Stock Exchange (PASE). The three financial institutions and the PASE, constitute the African Union Financial Institutions (AUFIs).

 In January 2005, the Assembly decided, in Abuja, Nigeria, decision No. Assembly/AU/Dec.64 (IV), that the African Central Bank should be located in West Africa, the African Investment Bank in North Africa, and the African Monetary Fund in Central Africa. Following this decision, the Northern Region decided that the African Investment Bank should be located in Libya, the Central Region designated Cameroon as the host country of the African Monetary Fund, while the Western Region designated the Federal Republic of Nigeria as the host country for the African Central Bank.

Advertisement

Multiple Award Winning Travel & Celebrity Blogger | Teacher | Geographer | Writer| Publicist | PR Expert| Editor | Artistes Promoter| Talent Manager | Digital Marketer | Social Media Consultant | Web Entrepreneur | CEO of Sintim Media |

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Health

Enforcing Vaccine On Citizens, Unconstitutional ‐ Sammy Gyamfi

Published

on

The national communications officer of the biggest opposition party, the NDC, Sammuel Gyamfi has given a penny of his thought concerning the compulsory vaccination going on in the country. The government’s policy of getting every Ghanaian at the age of eighteen years and above vaccinated does not sit well with the young lawyer.

According to Sammy Gyamfi, research made has proven that the vaccinated is highly susceptible to contracting the virus than the unvaccinated ones. He goes on to argue that there are countries who record number of COVID cases twice as Ghana such as south Africa but their president, Cyril Ramaphosa, posits that there is not going to be a force vaccination in the country.

Advertisement

“Some countries such as South Africa and Brazil are rejecting the Vaccine, vehemently though they are recording cases in huge numbers”, says Sammy Gyamfi.

According to the NDC firebrand, no law in Ghana mandates the FDA to do emergency use authorization, the medicine must be tested and approved before being administered. So it illegal to do emergency use authorization and this proceeds to border the natural rights of Ghanaian citizens enshrined in the 1992 constitution if citizens receive the dose forcefully.

Sammy Gyamfi registered his displeasure when granting an interview at Media General’s 3fm.

Advertisement

#sintim media

Advertisement
Continue Reading
Advertisement

Facebook

Featured

Awards3 days ago

Joy Entertainment is now official media partner of Ghana DJ Awards Festival

Merqury Republic Africa have announced a partnership with Joy Entertainment, Ghana’s number one urban entertainment media conglomerate, for the 1oth...

News5 days ago

CMG’s Asonaba Kwadwo Nomafo Joins EIB’s Kasapa fm

A renowned and Multi talented Journalist Asonaba Kwadwo Nomafo has resigned from Class Media Group ‘s Accra fm and Class...

Asikuma Odoben Brakwa District5 days ago

Asikuma Methodist ‘B’ JHS Emerges as Champions of The 2022 AOB District Science & Maths Quiz

Breman Asikuma Methodist ‘B’ JHS has emerged as winners of the 2022 Asikuma Odoben Brakwa District Science & Maths Quiz...

Asikuma Odoben Brakwa District7 days ago

Odoben T.I Ahmadiyya JHS To Represent Agona Odoben Circuit At The Grand Finale of The 2022 AOB District Science & Maths Quiz

Agona Odoben T.I Ahmadiyya Basic School has qualified to represent Agona Odoben Circuit at the grand finale of the 2022...

Asikuma Odoben Brakwa District7 days ago

AOB District Science & Maths Quiz 2022 – Who Wins The Grand Finale ?

The 2022 edition of the annual  Asikuma Odoben Brakwa District Science & Maths Quiz has been educative, entertaining and interesting...

Nigeria1 week ago

Ijaws Diaspora: Queen Josephine Diete-Spiff of Twon Brass Kingdom Seeks Collaboration to Tackle Poverty, Trafficking, Violence Against Ijaw Women

Queen of Twon Brass Kingdom and President of the Queens of the Niger Delta Initiative, Her Majesty, Dr Josephine Diete-Spiff,...

News1 week ago

Avance Media Launches Writing & SEO Workshop for Bloggers

Leading African PR & rating Firm & organisers of the annual Ghana Bloggers Summit, Avance Media has announced a writing...

Central Region1 week ago

Central Music Awards: Bismark Botchwey Appointed Deputy Communications Executive

Central Music Awards: Bismark Botchwey Appointed Deputy Communications Executive Bismark Botchwey, also known as Sintim in the media industry, has...

News2 weeks ago

SIM Card Re-registration Deadline Extended To September 30 – Ursula Owusu

SIM Card Re-registration Deadline Extended To September 30 – Ursula Owusu The Minister of Communications and Digitalisation, Hon. Ursula Owusu-Ekuful...

Central Region2 weeks ago

Central Region Ranked Fourth Richest Region In Ghana

Contrary to the assertion that the Central Region is the fourth poorest in Ghana, the narrative has changed for good...

Advertisement

Trending