The African Union (AU) has raised approximately $400 million to support peace operations across the continent, marking a major step toward financial self-reliance, AU Commission Chairperson Mahmoud Ali Youssouf announced on Monday.
Speaking at a press conference in Addis Ababa, Ethiopia, Youssouf highlighted the growing momentum behind the AU Peace Fund, which is designed to finance Africa-led peace and security initiatives.
As part of broader funding reforms, Youssouf reaffirmed the AU’s plan to introduce a 0.2% levy on eligible imports to ensure long-term financial sustainability for its programmes. He also reaffirmed the Union’s dedication to delivering on Agenda 2063, the AU’s long-term development strategy, while acknowledging the need for strategic reforms. These include strengthening the AU’s peace and security architecture, reforming the Peace and Security Council, and developing a continent-wide early warning system to help prevent conflicts before they escalate.
To further reduce external dependency, the AU has introduced several innovative financial instruments, including African Diaspora Bonds to tap into the $95 billion in annual remittances, and a proposed e-commerce tax to capitalise on Africa’s growing digital economy.
Plans are also underway to establish an AU Sovereign Wealth Fund, aimed at ensuring macroeconomic stability and resilience across member states.
Youssouf also reaffirmed the AU’s active role in shaping global financial reform through its G20 engagement, calling for increased infrastructure investment and trade access. He noted that accelerating the African Continental Free Trade Area (AfCFTA) remains a top priority, with efforts focused on eliminating non-tariff barriers and addressing logistical challenges across the region.
