The 33rd ordinary session of the African Union (AU) Assembly of Heads of State and Government in Addis Ababa, Ethiopia, on 9 and 10 February 2020, took an important decision: it appointed the Ghanaian President, Nana Addo Dankwa Akufo-Addo, as the champion of the AU financial institutions.
That is the right choice, of the right man, for perhaps the most critical instrument of Africa’s economic development. That this decision is coming with a long delay is certain. Even the assembly of African heads of State admitted that this delay should not be prolonged. They “expressed concern at the slow pace of the establishment of the AU financial institutions.”
Better late than never. Indeed, the AU Constitutive Act’s Article 19 created the AU financial institutions: