The African government and the African Union Member States have come to an agreement to search for alternative financing options. The mutual understanding was achieved through consultations and discussions during the celebration of the African Union’s 50th anniversary held in Addis Ababa. According to the AU Commission, in an attempt to successfully accomplish Agenda 2063, they must look for means of reaching their financial requirements, and goals, by using alternative financing. Agenda 2063 is the call for empowering Africa, and to claim its position as a developed country focused on security, peace, managing resources, as well as its economy.
There are a number of issues that deserve to be highlighted in Agenda 2063, such as security, education, energy, democracy and the infrastructure of the economy.
According to Erastus Mwencha, AUC Deputy Chairperson, Africa is in need of financial support in order to carry out Agenda 2063 which requires excessive technology, partnership and foreign investment. There are a number of issues that deserve to be highlighted in Agenda 2063, such as security, education, energy, democracy and the infrastructure of the economy. He further added that there are big projects that need to materialize within the nation, and all of them require a substantial amount of capital. Additionally, Mwencha said that the country must also strive to maintain peace in the region, and not resort to guns as a first choice.
Africa is already recognized as a rising nation, and the collaborated feats with One Voice is necessary to assist the development plans of Agenda 2063, in terms of funding. According to AUC, they will obtain the alternative financing from the diasporas, partners, member states shared contribution and bond structures.