The Algerian Minister of Finance attends the meeting of the “Committee of Ten Ministers of Finance” of the African Union of which Algeria is a member. Kigali, 11-13/01/2018.
This meeting, which will be held on the 13th of this month, is part of the implementation of the decision of the African Union Conference of Heads of State and Government, adopted at the Summit held in Kigali (Rwanda) in July 2016, relating to the new financing mechanisms of the AU budget.
During this meeting, the members of this Committee will examine and adopt the operational measures to be put in place by the AU member countries to ensure that this continental institution has the autonomy of financing.
The Committee of Ten Ministers of Finance, otherwise referred as the F10, was first convened in September 2016 in Addis Ababa, Ethiopia. The Minister of Finance for Chad H.E Mr. Christian Georges Diguimbaye, is the Chair of the Committee of Ten.
The members are:
Algeria and Egypt – representing the Northern Region
Kenya and Ethiopia- representing the Eastern Region
Chad and Congo Brazzaville – representing the Central Region
Ghana and Cote d’Ivoire – representing the Western Region
South Africa and Botswana.
The F10 have since adopted their Terms of Reference and the Guidelines for the implementation of the levy. The leadership of the Committee shall be rotational among regions after two years with regions leading taking turns in chairing the F10 for one year.
The ministers have since established a technical Committee of experts, drawing one representative from the ministries of Finance to assist the F10 with the technical aspects.
The duties of the F10 are to:
- Review and evaluate the annual budget of African Union before submission to the Assembly of Heads of State and Government of the African Union;
- Propose implementation mechanisms of the current decision on financing the African Union (Import Levy) in particular;
- Define a roadmap for the implementation of the Decision;
- Review the Status of the implementation and compliance and adopt policies for enhancement;
- Propose various resource mobilization strategies for the Union.