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Africa The African Development Bank. The African Development Bank Group is a
multinational development bank supported by 77 nations (member countries) from
Africa, North and South America, Europe and Asia. Headquartered in Abidjan, Cote
d’Ivoire, the Bank Group consists of three institutions: The African Development
Bank (ADB), The African Development Fund (ADF) and The
Nigeria Trust Fund (NTF).
AFRICAN UNION. African countries, in their quest for unity, economic
and social development under the banner of the OAU, have taken various
initiatives and made substantial progress in many areas which paved the way for
the establishment of the AU. The main objectives of the OAU were, inter alia, to
rid the continent of the remaining vestiges of colonization and apartheid; to
promote unity and solidarity among African States; to coordinate and intensify
cooperation for development; to safeguard the sovereignty and territorial
integrity of Member States and to promote international cooperation within the
framework of the United Nations.
New Partnership for Africa’s Development NEPAD. NEPAD is designed to
address the current challenges facing the African continent. Issues such as the
escalating poverty levels, underdevelopment and the continued marginalisation of
Africa needed a new radical intervention, spearheaded by African leaders, to
develop a new Vision that would guarantee Africa’s Renewal.
Community of Sahel-Saharan States CEN-SAD. The Community of
Sahel-Saharan States CEN-SAD is a framework for Integration and Complementarity.
It intends to work, together with the other regional economic communities and
the Organization of African Unity, to strengthen peace, security and stability
and achieve global economic and social development. Benin, Burkina Faso, Central
African Republic, Chad, Djibouti, Egypt, Eritrea, Gambia, Libya, Mali,
Morocco,
Niger, Nigeria, Senegal, Somalia, Sudan, Togo and Tunisia.
The Common Market for Eastern and Southern Africa COMESA. The COMESA
states, in implementing a free trade area, are well on their way to achieving
their target of removing all internal trade tariffs and barriers, an exercise
which is to be completed by the year 2000. Angola, Burundi, Comoros, Democratic
Republic of Congo, Djibouti, The State of Eritrea, The Transitional Government
of Ethiopia, Kenya, The Kingdom of Lesotho, Madagascar, Malawi, Mauritius,
Mozambique, Namibia, Rwanda, Seychelles, The Somali Democratic Republic, Sudan,
Swaziland, Tanzania, Uganda, Zambia, and Zimbabwe.
The Economic Community Of West African States (ECOWAS) is a regional
group of fifteen countries, founded in 1975. Its mission is to promote economic
integration in "all fields of economic activity, particularly industry,
transport, telecommunications, energy, agriculture, natural resources, commerce,
monetary and financial matters, social and cultural issues .....". Benin,
Burkina Faso, Cape Verde, Côte d'Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau,
Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo.
The Southern African Development Community (SADC). Achieve
development and economic growth, alleviate poverty, enhance the standard and
quality of life of the people of Southern Africa and support the socially
disadvantaged through regional integration. Angola, Botswana, the Democratic
Republic of Congo, Lesotho, Malawi, Mauritius, Mozambique, Namibia,
South
Africa, Swaziland, United Republic of Tanzania, Zambia and Zimbabwe.
WEST AFRICAN ECONOMIC AND MONETARY UNION (UEMOA) was created by
Treaty in January 1994 by the Heads of States of seven West African countries
using the common currency, CFA franc, namely Benin, Burkina Faso, Côte d’Ivoire,
Mali, Niger, Senegal and Togo. In May 1997, Guinea-Bissau became the eighth
member of the Union. The main objectives of the UEMOA are to strengthen the
competitiveness of economic and financial activities of member states in the
framework of an open and competitive market and a harmonised legal environment.
CEEAC - COMMUNAUTÉ ÉCONOMIQUE DES ÉTATS D’AFRIQUE CENTRALE.
NOTE: L'Union du Maghreb Arabe (see Middle East and
North Africa learning unit)
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