Proposals for an African central bank and an African monetary union at the continental level are still on the drawing board, as vested interest and concerns about sovereignty hold back the necessary political will to drive the process.
The African Union has now created an agenda 2063 which is a benchmark of vision for the continent in the next 50 years. The agenda looks at the following: Changing global context.
Globalization and the information technology revolution have provided unprecedented opportunities for countries and regions with the right policies to make significant advances and lift huge sections of populations out of poverty, improve incomes and catalyse economic and social transformations.
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In addition, most African economies now have in place sound macro-economic and market-oriented economies which have spurred growth, trade and investment expansion.
Building on the NEPAD experience: National, regional and global efforts made to implement NEPAD, unseen during the LPA and AT, have enabled AU to build institutions (e.g., APRM, etc.), demonstrate unprecedented commitment to implement agreed agenda, generate valuable lessons that present strong foundation for Agenda 2063. Indeed, Agenda 2063 is a logical and natural continuation of NEPAD and other initiatives.
A more united and strong Africa: Africa today is more united, a global power to reckon with, capable of rallying support around a common agenda and speaking with one voice with demonstrated strong capacity to negotiate and withstand the influence of forces that would like to see it divided.
Strong and well-functioning regional institutions: Africa’s sub regional institutions have been rationalized and the eight officially AU recognized Regional Economic Communities (CEN-SAD, COMESA, EAC, ECCAS, ECOWAS, IGAD, SADC and UMA) are today strong development and political institutions that citizens’ can count on and Agenda 2063 can stand on.
New development and investment opportunities: Africa today is faced with a confluence of factors that present a great opportunity for consolidation and rapid progress. These include: Unprecedented positive and sustained growth trajectory of many African countries resulting from sound macro-economic policies and strategies bolstered by high commodity prices; significant reduction of armed conflicts, improved peace and stability, coupled with advances in democratic governance.
A fast rising broad based African entrepreneurial and middle class, coupled with the youth bulge, which can act as catalyst for further growth and technological progress.
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Much as we appreciate the vision our leaders have in the next fifty years, the citizens are pessimistic with the snail pace the continent attains on issues; instead of heading towards development; Africa most of the times continues to slides backwards.
We want a vibrant Africa with visionary leaders. With zeal and its mandate from the people on the continent the AU can resolve recurring conflicts that are suffocating African countries. The AU must promote education for all; bring economic empowerment, and find ways of dealing with youth unemployment in the continent. The union has capacity to achieve most of these goals in the short to medium term so that in 10 years Africa becomes the place the world wouldn’t ignore anymore.
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