Public Management

G20 agrees to grant AU a permanent seat

G20 agrees to grant AU a permanent seat
Friday, 08 September 2023 11:35

AU’s full integration in the G20 is part of an effort to give the African continent a stronger voice on issues such as climate change, energy transition, and the debt of developing countries.

Members of the Group of 20, which gathers the world’s largest economies, have reached an agreement to grant the African Union (AU) a permanent membership within the group. The news was unveiled Thursday by Bloomberg, which cited sources close to the matter.

Leaders of G20 member countries are expected to officially announce the decision during their Summit scheduled for September 9 and 10 in India, the same sources stated. Granting the AU a permanent seat is aimed at enabling the African continent to have a stronger voice on issues such as climate change, energy transition, and the debt of developing countries and emerging markets.

At the end of August, Indian Prime Minister Narendra Modi expressed his desire for the AU to become a full G20 member. “We have a vision of inclusion, and with this vision, we have invited the African Union to become a permanent member of the G20,” he said during a speech in New Delhi at the Business 20 (B20) summit. This comment comes a few months after similar announcements by U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, and German Chancellor Olaf Scholz.

The G20 is an international forum of the world's 20 largest and fastest-growing economies (19 countries plus the European Union). Its members represent around 80% of the global GDP, 60% of the world's population, and 75% of international trade. South Africa is currently the only permanent G20 member from the African continent.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Bank of Botswana raises key interest rate to 3.5% amid liquidity crunch Move responds to rising interbank rates, falling diamond revenues, and...
Coris Bank Q3 profit rises 6.25% to $93.5M on stronger operations Deposits up nearly 10%, but customer loans fall 3.2% year-on-year Bank...
Net profit fell to CFA11.9 billion amid rising raw material prices. Revenue increased slightly by 1.36% to CFA173.4 billion. The company expects...
Net profit rose to CFA83.3 billion, driven by cost control and strong activity. Customer deposits increased 13.9% to CFA2,939 billion. Loan-to-deposit...
Most Read
01

Wave launches Wave Bank Africa in Côte d'Ivoire with $32M capital Move follows €117M fu...

Wave Launches Commercial Bank in Côte d’Ivoire
02

Sonatel is a major telecom company in West Africa that investors trust, offering steady growth and...

Sonatel Stock Nearly 19% Rise Over the Year, Signals Undervalued Telecom Giant Poised for Further Growth
03

Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...

Presidential Elections: Paul Biya Declared Winner in Cameroon, Alassane Ouattara Favorite in Ivory Coast
04

Safaricom's M-Pesa integrated with Ethiopia's national payment network, EthSwitch, on October 27. ...

Safaricom Integrates M-Pesa Into Ethiopia's Payment Rail
05

ECCBC invests $77.6M to expand Morocco plant, boosting output by 40% New lines produce soft ...

Moroccan Bottler ECCBC Invests $77.6 Million to Grow Its Operations
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.