The African Union Foundation (AU Foundation) mobilises resources in support of the African Union’s vision of an integrated, people-centred and prosperous Africa, at peace with itself and taking its rightful place in the world.
Launched in January 2015 following approval at the 21st Ordinary Assembly of Heads of States and Government in May 2013, the AU Foundation raises funds from the private sector and individuals on the continent and beyond towards the financing of African development priorities.
Nigeria’s signatory to the ENABLE youth program will make the oil-rich country the third African country coming behind Cameroon and Sudan to benefit from funds under the AfDB Feed Africa initiative.
The African Union Commission cautions that the future of Africa’s economic growth and the future of millions of Africans, is in jeopardy, if the underlying issues that hinder development are not adequately addressed. With Africa expected to double its population over the next 25 years and the working-age population expected to grow by approximately 450 million between 2015 and 2035, the African Union Commission Deputy Chairperson Ambassador Kwesi Quartey says it is critical to urgently address the lack of education and mismatched skills, as major causes of rising numbers of unemployment.
Most African countries are still far behind the industrialized countries in many respects, especially when it comes innovations. It is difficult to predict whether the Bitcoin Evolution will really be in Africa. However, the following is clear: Many of the consumers and market participants prefer cryptocurrencies to the existing system because they are a safe, fast and inexpensive way to transfer values. This observation applies not only to Africa, but generally to structurally weak countries.
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