• These initiatives mentioned by Assimi Goïta
• To finance large 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 Movement, described 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 Stability Fund. These initiatives aim to strengthen economic independence and promote development in a region characterized by instability. But what exactly are these tools, and how could they change the daily lives of Sahelian people?
A bank to finance large projects
Following the example of the ECOWAS Bank for Investment and Development (EBID), the vision of an investment bank is to be an engine for wealth creation, economic growth and entrepreneurship for a good people.
Unlike traditional banks that deal with investments and loans to individuals, an investment bank finances large projects, advises companies on mergers and acquisitions, and facilitates access to markets financial. It is therefore a key player in moving money and promoting economic growth. In the context of Burkina Faso, Mali and Niger, the establishment of this investment bank will allow financing for structural projects: road infrastructure, renewable energy, telecommunications.
“The creation of an Investment Bank and a Stability Fund is underway and we will work to put in place infrastructure to strengthen the connections of our territories, through means of transport, communication networks and information technology,” said Assimi Goïta, in his address to the people the AES, on September 15, 2024.
The area has important natural resources and many assets, but there are often no means to develop them. An investment bank could fill this gap by facilitating partnerships with local and foreign investors, while maintaining control over strategic sectors.
Fixed assets: insurance for the future
In addition to this investment bank, the heads of state of the AES intend to establish a Sustainability Fund. This financial mechanism aims to protect the economy against external shocks, such as fluctuations in commodity prices or financial crises. It works by accumulating resources in times of growth to be used 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 we face challenges. That is why we have proceeded to combine our efforts in strategic areas such as investments, taxes and the use of natural resources,” the Malian president continued in his speech.
The benefits for the AES population
The initiative to create an Investment Bank and Stability Fund in the region could bring great benefits to 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. In addition, a well-managed Stability Fund could protect people against economic shocks, maintain investments in public services and support social programs. Note that creating an Investment Bank and Sustainability Fund is not without its challenges. The need for initial capital is significant, but not only that. o
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Vision of the AES Confederation
On the security level
“Celebrating this first anniversary of the Federation is an opportunity to look at the progress we have made. In the field of security, our armed forces have faced great challenges against enemies supported by third states, such as Ukraine, which has openly chosen to join terrorism in the Sahel. We continue to fight fearlessly, against all forms of terrorism and protect the integrity of our land and sovereignty.”
On the alliance of the peoples
“In the following days, the new AES biometric passport will be distributed, with the aim of harmonizing travel documents in our common space and facilitating the movement of our citizens around the world. Cultural, sports and educational projects are also underway to strengthen the unity of our people. It is also planned to create a common information channel, to promote the harmonious dissemination of information in our three States.”
On diplomacy
“This treaty signifies our unwavering commitment to the unification of our States and our people, with a shared vision of brotherhood, solidarity and complementarity. With the Confederation, we have made a strategic decision to expand our cooperation into two essential tools, diplomacy and development. Far from being a lucky choice, this direction arises from our desire for a strong political union, anchored in peace, security and sustainable development and enabling coordinated action on the international scene .o
Excerpt from the speech by Assimi Goïta, current president of the Confederation of Sahel States, on September 15, 2024.
