African Union

The African Union (abbreviated AU), founded in July 2002, is the successor organisation to the Organisation of African Unity (OAU). Modelled after the European Union (but currently with powers closer to the Commonwealth of Nations), it aims to help promote democracy, human rights and development across Africa, especially by increasing foreign investment through the New Partnership for Africa's Development (NEPAD) program. Its first chairman was South African president Thabo Mbeki.

Economy

Main article: Economy of Africa

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The member states' efforts to collaborate economically are impeded by the civil wars raging in several parts of Africa. The African Union provides greater powers to govern African economies. The states goals include the creation of free trade areas, a central bank in 2020 and a common currency in 2021.

Related Topics:
Free trade area - Central bank - 2020 - Common currency - 2021

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