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2nd Session of the AU STC on Finance, Monetary Affairs, Economic Planning and Integration

Addis Ababa
12 Apr 2018
17 Apr 2018
The Commission is organizing the Second Session of the Specialized Technical Committee (STC) on Finance, Monetary Affairs, Economic Planning and Integration as per Decision Assembly/AU/Dec.227(XII), reconfiguring the Specialized Technical Committees (STCs) and Decision Assembly/AU/Dec.365(XVII) requesting the Commission to operationalize the STCs form January 2013 and to abolish sectoral Ministerial Conferences.
The First STC was held in October 2017 in Addis Ababa, Ethiopia, under the theme “Growth, employment and inequality”. The STC highlighted corruption as one of the setbacks to sustainable inclusive economic growth. The meeting noted that corruption discourages investors and increases inequalities. In this regard, efforts have to be directed toward considering the correct mix of policies, auditing national laws and enacting laws in line with the changing global context. In addition, the meeting underscored the need to address Illicit Financial Flows (IFFs). To achieve this, it was noted that there was need for improved governance and accountability for reducing the financial haemorrhage of illicit financial flows through the fight against corruption. Overall, the meeting concluded that financing Africa’s development requires a comprehensive approach that harnesses the potential of domestic resources mobilization.
In the same vein, in recognition of the negative impact that corruption has on the development of African countries, the African Union has dedicated the year 2018 to the fight against corruption. Under the theme, “Winning the Fight against Corruption: A sustainable path for Africa’s Transformation”, African Union (AU) Heads of State and Government are resolute in their willingness to fight corruption on the continent. Consequently, the theme for the second STC is “Mobilisation of domestic resources: fighting against corruption and Illicit Financial Flows”.
 
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Thomas Kwesi Quartey

ACBF has been granted the status of a specialized agency because of the potential to transform Africa through capacity development.


H.E. Thomas Kwesi Quartey, Deputy Chairperson, AU Commission
Erastus Mwencha

The recognition of ACBF as the African Union’s Specialized Agency for Capacity Development launches the beginning of a new era for capacity building by ACBF, which will require an appropriate level of political commitment and financial support from all stakeholders.


H.E. Erastus Mwencha, Chair, ACBF Executive Board
Lamin Momodou

The remarkable achievements ACBF has registered over the past 26 years is not by accident in our opinion. They have come through hard work, dedication, commitment, purposeful leadership, support from the member countries as well as productive partnership building.


Mr. Lamin Momodou MANNEH, Director, UNDP Regional Service Centre for Africa
Goodall Gondwe

Africa needs ACBF as much, probably more now, than at the time it was created in 1991.


Hon. Goodall Gondwe, former Chair of the ACBF Board of Governors and Minister of Finance – Malawi
Ken Ofori Atta

Ghana’s partnership with ACBF is a tremendous blessing for us and therefore the opportunity for Ghana to host the 26th ACBF Board of Governors Meeting is something that we treasure.


Hon Ken Ofori Atta, Chair of the ACBF Board of Governors and Minister of Finance - Ghana
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