Africa Must Build Financial Strength to Fund Its Own Transformation: AU Commission Chair

Addis Ababa, July 28, 2026 (FMC) — Africa must strengthen its financial capacity and achieve greater financial independence to effectively implement its development priorities and realize the goals of Agenda 2063, African Union Commission Chairperson Mahmoud Ali Youssouf said.

Addressing the opening of the 49th Ordinary Session of the AU Executive Council in Addis Ababa on Tuesday, Mahmoud said the continent is facing a challenging environment shaped by conflicts, economic uncertainty, climate pressures and emerging global crises, requiring stronger continental solidarity and collective action.

He highlighted the impact of ongoing international tensions, particularly the renewed conflict in the Middle East, noting that disruptions to trade routes and supply chains could continue affecting energy, food and fertilizer prices, with consequences for economies.

The AU Commission Chairperson also raised concerns over the expansion of terrorism in parts of Africa, stressing that addressing the threat requires strengthened regional cooperation and dialogue.

Following his recent visit to countries of the Alliance of Sahel States (AES), Mahmoud said he witnessed the severe impacts of terrorism and called for greater cooperation between AES countries, the Economic Community of West African States (ECOWAS) and neighboring countries to combat the challenge.

On health security, he expressed solidarity with the Democratic Republic of the Congo following the outbreak of Ebola caused by the Bundibugyo strain, which has claimed more than 1,000 lives. He commended the Africa Centres for Disease Control and Prevention (Africa CDC) for its response efforts and called for increased support to the affected country.

Mahmoud emphasized that sustainable financing remains central to Africa’s development ambitions, particularly in implementing Agenda 2063. He said the African Union requires a stronger and more predictable financial model that combines self-reliance with prudent resource management.

He noted that achieving Agenda 2063 goals requires mobilizing significant resources, estimated at around 2 billion US dollars, while urging member states to strengthen their contributions and review existing financing mechanisms.

The AU Commission Chairperson said the Commission continues implementing institutional reforms, strengthening financial management and improving results-based approaches to enhance efficiency and effectiveness.

He further called on member states to accelerate the ratification of AU legal instruments and reaffirmed the Commission’s commitment to advancing Africa’s interests and positions in global forums.

The 49th Ordinary Session of the AU Executive Council has brought together foreign ministers and senior representatives of AU member states in Addis Ababa under the African Union’s 2026 Theme of the Year, “Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063.”