Accra to Host African Union Event to Launch Peace Financing Mechanisms
Accra is set to host a significant event organized by the African Union (AU) this Saturday to launch innovative peace financing mechanisms. The event, scheduled for July 20 at the Kempinski Hotel, will bring together distinguished guests, including current and former Heads of State, AU officials, African financial institution representatives, private sector delegates, philanthropists, and high net-worth individuals.
Among the notable speakers expected to attend are Ghana’s President Nana Addo Dankwa Akufo-Addo, AU Commission Chairperson Moussa Faki Mahamat, Mauritania’s Foreign Affairs Minister Mohamed Salem Ould Merzoug, and AU Peace Fund Director Dagmawit Moges. The event will feature keynote addresses, networking opportunities, and cultural performances, with discussions on peace financing strategies and financial commitments to support the AU Peace Fund’s initiatives.
One of the highlights of the event will be the Peace Fund Round Table titled “Fostering Partnerships for Sustainable Peace in Africa,” focusing on resource mobilization and collaboration among member states, financial institutions, and the private sector. The AU Peace Fund, established in 1993 and revitalized in 2018, currently holds over ¢392 million in its endowment fund and aims to reach USD 400 million. The Fund seeks additional resources to address Africa’s peace and security challenges, exploring innovative methods like voluntary contributions from member states and private sector involvement.
The Peace Fund is governed by a Board of Trustees, an Executive Management Committee, private fund managers, an Independent Evaluation Group, and a Board of External Auditors to ensure transparency and accountability. It focuses on three key areas: Mediation and Preventive Diplomacy, Institutional Capacity Building, and Peace Support Operations.
By hosting this event in Accra, Ghana reaffirms its commitment to promoting peace and security in Africa. President Nana Akufo-Addo’s leadership underscores Accra’s political influence and dedication to Africa’s progress. The Director of the AU Peace Fund Secretariat, Dagmawit Moges, emphasized the importance of the event in garnering support and resources to address Africa’s peace and security challenges.
This gathering represents a significant step towards securing a peaceful and stable future for Africa, showcasing solidarity, innovative ideas, and commitments to sustainable peace financing. For more information about the African Union Peace Fund and its initiatives, visit the AU Peace Fund website.
