Public Management

The new Sahel Economic Alliance takes shape: milestone summit outlines path to integration and growth

The new Sahel Economic Alliance takes shape: milestone summit outlines path to integration and growth
Tuesday, 28 November 2023 04:38

On September 16, Mali, Burkina Faso, and Niger joined forces to establish the Alliance of Sahel States (AES), a response to shared ideals in the face of international economic sanctions following a breach of constitutional order. The Alliance convened its inaugural ministerial summit on November 25 in Bamako, the capital of Mali, bringing together ministers responsible for Economy and Finance from the three Sahelian countries.

The summit primarily centered on economic development within the Liptako-Gourma region, resulting in the adoption of 18 key recommendations. These aim to set the stage for genuine integration within the newly formed alliance. The proposed measures include enhancing the free movement of goods and people across the AES, implementing a robust food security mechanism, formulating a collective industrialization strategy for alliance states, expediting the execution of energy, agricultural, hydraulic, and transportation projects, and even considering the establishment of regional civil nuclear power projects.

This gathering follows the adoption of the Liptako-Gourma Charter on September 16, amid political tensions between the three states, all governed by military juntas, and the ECOWAS organization. The latter imposed stringent sanctions and demanded a swift return to constitutional order.

While the recommendations have been well-received by the populations of the Alliance countries, their effective implementation raises some questions. Mali, Burkina Faso, and Niger remain heavily reliant on external financial, food, and humanitarian aid, often sourced from countries traditionally unsupportive of "unconstitutional changes." The economic repercussions of these stringent sanctions continue to impact the economies and financial systems of these three nations, compounded by the significant humanitarian consequences of the ongoing security crisis.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
EU, EBRD launch €26.5 million financing facility in Côte d’Ivoire Program targets SMEs with loans, co-financing and technical support Initiative...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, interoperable real-time payments All financial...
Okoumé Capital licensed as fund manager by regional regulator Approval enables expansion across Central African financial markets Firm aims to boost...
GIMAC, Visa sign deal to modernize CEMAC payments ecosystem Partnership targets digital payments, interoperability and financial inclusion Move...
Most Read
01

A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...

Mitsubishi, Toyota Buy Options on Africa's Next Startups
02

ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...

ECOWAS and IMF Set New Framework to Align Policies Across West Africa
03

West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...

BOAD Targets $11.5 Billion Investment in WAEMU by 2030 Under New ‘Djoliba’ Plan
04

Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...

Coca-Cola Plans $1 Billion Investment in South Africa After Nigeria Push
05

West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...

BOAD Commits $131.8 Million to Cotton Sector in Burkina Faso and Mali
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.