Every May 25th, Africa Day is celebrated. This day commemorates the creation of the Organization of African Unity (OAU) which later became the African Union (AU). May 25, 2023 marks the 60th anniversary of this organization. For the occasion, we retrace the course, and present the future opportunities available to Africa provided the economy is managed properly.
From the OAU to the AU, the Stations of the Cross
The Ethiopian capital, Addis Ababa served as the setting on May 25, 1963 for the signing of a charter which laid the groundwork for the first post-colonial continental institution. Thus, under the leadership of Ethiopian leader Haile Silassié, 32 other African heads of state founded the Organization of African Unity. This is why the date of May 25 has been chosen as Africa Day. The development of the continent was therefore underway. The fathers of the OAU laid down the pan-Africanist vision as: “a continent united, free and master of its destiny”.
The institution was therefore a platform for the expression and defense of African rights on the international scene. Several fights were on the agenda. The biggest was getting out of Western grip. But it was also necessary to protect the raw resources that abounded in Africa, which is also considered to this day as the continent of raw materials. In the 1990s, all African states had gained their independence, apartheid was abolished in South Africa. The OAU could therefore pride itself of having carried out its first mission successfully. afterwards, it was necessary to tackle economic growth and development, which were only possible through inter-state integration and cooperation.
To speed up the integration process, the OAU was replaced by the AU. It was officially launched on July 9, 2002 in Durban, South Africa. Although enamelled by controversy as an instrument of the West, a clear economic agenda has emerged since the implementation of the vision of the AU.
Economic growth, a bright future for Africa
The challenges are many and colossal. The West has not stopped meddling in its affairs, creating conflicts within States and between States and subjecting the economy of part of Africa to an imposed currency, the FCFA. Africa’s resilience and its adaptation to difficulties have helped the continent move forward.
In 2013, for the 50th anniversary of the institution, Member States adopted Agenda 2063. This is a solemn commitment that stipulates that its members will considerably reduce conflicts and make the continent a world power. Today, 55 states are members of the African Union.
The economic potential is enormous and the resource base is colossal. According to a report by the Mo Ibrahim Foundation, by 2027, Africa will be the fastest growing economy in the world. And one of the means that Africa has given itself to achieve this objective is the African Continental Free Trade Area (Zlecaf). It is the largest free trade agreement in the world. Whether in terms of signatory countries or population. The objective sought here is clear, to accelerate economic growth and improve the standard of living of Africans.
