2024-09-30 09:00:46
• These initiatives announced by Assimi Goïta
• To finance major projects
• Protect yourself against economic shocks
Lon the first anniversary of the Confederation of the Alliance of Sahel States (AES), the speech of Assimi Goïta, president of the Malian Transition, outlined the vision of the 3 heads of state of the zone, for the future economy of Burkina Faso, Mali and Niger. At the heart of this vision: the creation of an Investment Bank and a Stabilization Fund. These initiatives aim to strengthen economic independence and stimulate development in a region marked by instability. But what exactly are these tools, and how could they transform the daily lives of Sahelian populations?
A bank to finance major projects
Following the example of the ECOWAS Bank for Investment and Development (EBID), the vision of an investment bank is to be an engine of wealth creation, economic growth and industrialization for good -be populations.
Unlike traditional banks which deal with deposits and loans for individuals, an investment bank finances large projects, advises companies on mergers and acquisitions, and facilitates access to financial markets. It is therefore a key player in mobilizing funds and stimulating economic growth. In the context of Burkina Faso, Mali and Niger, the establishment of this investment bank will allow the financing of structuring projects: road infrastructure, renewable energies, telecommunications.
“The creation of an Investment Bank and a Stabilization Fund is underway and we will work to put in place infrastructure to strengthen the connectivity of our territories, through means of transport, communication networks and information technology,” declared Assimi Goïta, in his address to the people of the AES, on September 15, 2024.
The region has significant natural resources and numerous assets, but it often lacks the means to develop them. An investment bank could fill this void by facilitating partnerships with local and foreign investors, while maintaining control over strategic sectors.
Stabilization fund: insurance for the future
In addition to this investment bank, the heads of state of the AES intend to set up a Stabilization Fund. This financial mechanism aims to protect an economy against external shocks, such as variations in commodity prices or financial crises. It works by accumulating reserves during periods of growth to use them in times of crisis.
“We are now working to strengthen our economic and social integration by promoting the free movement of goods, services and people. Our economies are complementary, but they face challenges. This is why we have taken the initiative to pool our efforts in strategic areas such as investments, taxation and the exploitation of natural resources,” continued the Malian president in his speech.
The benefits for the populations of the AES
The initiative to create an Investment Bank and a Stabilization Fund in the region could have significant benefits for the populations of Burkina Faso, Mali and Niger. If these projects are completed, it could contribute to the creation of jobs, the improvement of living conditions, and the reduction of poverty, by stimulating key sectors of the economy. Additionally, a well-managed Stabilization Fund could protect populations against economic shocks, maintaining investments in public services and supporting social programs. Note that the creation of an Investment Bank and a Stabilization Fund is not without challenges. It requires significant initial capital, but not only that. o
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The vision of the AES Confederation
On the security level
“The celebration of this first anniversary of the Alliance is an opportunity to take stock of the progress we have made. In the security area, our armed forces have faced major challenges facing adversaries supported by third states, such as Ukraine, which has openly chosen to side with terrorism in the Sahel. We continue to fight without cowardice, against all forms of terrorism and to defend the integrity of our territory and our sovereignty.”
On the alliance of peoples
“In the following days, a new AES biometric passport will be put into circulation, with the aim of harmonizing travel documents in our common space and facilitating the mobility of our citizens around the world. Cultural, sporting and educational projects are also underway to strengthen the unity of our people. The creation of a common information channel is also planned, in order to promote the harmonious dissemination of information in our three States.”
On diplomacy
“This treaty marks our irreversible commitment to the integration of our States and our populations, with a shared vision of fraternity, solidarity and complementarity. With the Confederation, we have made the strategic decision to expand our cooperation to two essential tools, diplomacy and development. Far from being a fortuitous choice, this orientation arises from our desire for a strong political union, anchored in peace, security and sustainable development and enabling action in a coordinated manner on the international scene.o
Excerpt from the speech by Assimi Goïta, current president of the Confederation of the Alliance of Sahel States, on September 15, 2024.
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