Dagmawit
Moges,
Director
of
the
AU
Peace
Fund
Secretariat
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Accra,
Ghana’s
bustling
capital,
is
preparing
to
welcome
a
range
of
key
players
in
Africa’s
political
leadership,
private
sector,
multilateral
financial
institutions,
state
owned
enterprises,
high-net-worth
individuals
and billionaires
for
the
highly
anticipated
African
Union
(AU)
Peace
Fund
event
on
this
Saturday,
July
20,
2024.
This
grand
event,
set
to
take
place
at
the
Kempinski
Hotel,
aims
to
gather
support
from
key
stakeholders
to
enhance
the
AU
Peace
Fund’s
financial
stability
and
further
its
mission
of
fostering
sustainable
peace
across
the
continent.
“The
AU
Peace
Fund
event
on
innovative
peace
financing
mechanisms
platform
is
a
pivotal
moment
for
Africa’s
peace
and
security
landscape,”
said
Ms.
Dagmawit
Moges,
Director
of
the
AU
Peace
Fund
Secretariat.
Organized
in
collaboration
with
Afreximbank,
this
event
reflects
a
significant
effort
to
mobilize
resources
and
foster
strategic
partnerships
that
will
ensure
the
sustainability
of
peace
initiatives
across
Africa.
With
over
200
high-profile
individuals
expected
to
attend,
including,
government
officials,
dignitaries,
policymakers,
and
influential
figures
from
the
private
sector
and
financial
institutions,
the
event
will
serve
as
a
critical
platform
for
discussions
and
commitments
towards
peace
financing.
What
is
the
AU
Peace
Fund?
Initially
established
by
the
Organization
of
African
Unity
(OAU)
in
1993,
the
AU
Peace
Fund
has
undergone
substantial
reforms
to
become
a
more
effective
tool
for
promoting
peace
and
stability.
A
significant
milestone
was
reached
in
June
2015
when
the
Heads
of
State
made
a
pivotal
decision
in
Johannesburg,
South
Africa,
through
Decision
Assembly/AU/Dec.578
(XXV)
on
the
Scale
of
Assessment
and
Alternative
Sources
of
Financing
the
African
Union.
This
decision
laid
the
groundwork
for
the
Peace
Fund’s
revitalization
in
2018,
marking
a
notable
transformation
towards
self-financing
mechanisms
“The
revitalized
AU
Peace
Fund
represents
a
major
shift
in
how
we
approach
funding
for
peace
and
security
activities.
By
using
a
home-grown
mechanism,
we
can
ensure
reliability,
predictability,
and
sustainability,”
Ms.
Moges
emphasized.
Currently,
the
Peace
Fund
has
a
robust
governance
structure
that
ensures
transparency
and
accountability.
It
has
successfully
raised
over
USD
402
million,
exceeding
its
initial
target
of
USD
400
million.
However,
to
address
the
evolving
and
expanding
peace
and
security
challenges,
further
resources
are
required.
The
active
involvement
of
the
private
sector,
high-net-worth
individuals,
multilateral
financial
institutions,
and
corporations
is
essential
to
meeting
these
needs.
Why
Stakeholder
Involvement
is
Crucial?
“The
active
participation
of
the
private
sector
and
high-net-worth
individuals
is
crucial.
Their
support
will
enable
us
to
address
the
complex
peace
and
security
challenges
facing
our
continent.
Together,
we
can
create
a
reliable
and
sustainable
financing
mechanism
for
peace
in
Africa,”
said
Ms.
Moges.
By
fostering
long-term
partnerships,
the
AU
seeks
to
ensure
that
peacebuilding
efforts
are
not
only
adequately
funded
but
also
supported
by
a
broad
coalition
of
committed
entities.
The
launch
event
will
feature
a
series
of
keynote
addresses,
networking
opportunities,
and
cultural
performances.
Attendees
will
have
the
chance
to
engage
with
Africa’s
most
influential
leaders,
discuss
innovative
peace
financing
mechanisms,
and
make
financial
commitments
to
support
the
Peace
Fund’s
initiatives.
Hosting
this
significant
event
in
Accra
underscores
Ghana’s
pivotal
role
in
promoting
peace
and
security
across
the
continent.
As
a
champion
for
AU
financial
institutions,
H.E.
President
Nana
Addo
Dankwa
Akufo-Addo’s
leadership
further
highlights
Accra’s
political
influence
and
deep-rooted
commitment
to
Africa’s
progress.
Known
for
its
rich
cultural
heritage,
Accra
is
the
ideal
location
for
such
a
landmark
gathering,
showcasing
the
city’s
dedication
to
fostering
peace
and
stability
across
Africa.
As
Africa’s
political
and
diplomatic
elite
gather
in
Accra
for
the
AU
Peace
Fund
event,
it
represents
a
remarkable
step
towards
securing
a
peaceful
and
stable
future
for
the
continent.
It
is
an
opportunity
to
demonstrate
solidarity,
share
innovative
ideas,
and
commit
to
sustainable
peace
financing.
“This
event
will
not
only
celebrate
the
progress
made
by
the
AU
Peace
Fund
as
part
of
the
AU
reforms
but
also
galvanize
further
support
and
resources
needed
to
address
Africa’s
peace
and
security
challenges,”
Ms.
Moges
said.
End.