AU Summit opens under Mauritania President's chairmanship

Addis Ababa, Ethiopia (PANA) - The 37th African Union (AU) Summit opened on Saturday with Mauritania President Mohamed Ould Ghazouani as the new Chairperson.

He assumed the rotating leadership from President Azali Assoumani of Comoros, who served for the past one year.

The Summit opened with a minute's silence in honour of the Namibian President Hage Geingob, who died recently.

The AU Commission Chairperson Moussa Faki led the Assembly of the AU, the top decision-making organ, in honouring the memory of the President Geingob.

The other bureau members include the First Vice Chairman, which is now held by Angola. This effectively means that Angola will succeed Mauritania.

The second Vice Chair will be the Republic of Congo and the third Vice Chair will be Ghana. The Union of Comoros will remain in the office of Rapporteur.

The Summit this year is dedicated to the discussions over the future of education in Africa. Later, the African leaders met to discuss the launch of at least three crucial financial institutions which have remained in the works for over a decade.

The Presidential Dialogue on Financial Institutions discussed the planned launch of the African Central Bank, the African Investment Bank and the African Monetary Fund.

The AU argues that Africa has some of the world's fastest growing economies and emerging markets, yet it’s under represented and underserved within existing financial institutions. AU Financial Institutions are crucial, it added .

The Summit is expected to appoint a panel of eminent leaders to conduct the selection of the next generation of Commissioners and the Chairperson of the Commission when the term of the incumbent Moussa Faki expires.

-0- PANA AO/MA 17Feb2024