Agenda 2063 has 13 fast track programmes and projects.
The first is based on Article 19 of the AU Constitutive Act stipulates establishment of four continental financial and monetary institutions to service development. They are the African Central Bank (ACB), the African Investment Bank (AIB), the African Monetary Fund (AMF) and the Pan African Stock Exchange.
Regarding the African Central Bank the agreed timeframe for establishing ACB is between 2028 and 2034. Strategy towards this target has been agreed and await blessing by the 28th AU Assembly. When it comes to AIB Statutes have been adopted. Twelve ratifications are needed to reach the required threshold for activation. The agreed schedule for operationalizing AIB is 2025. AMF statutes have been adopted. Minimum required number of ratifications should be secured punctually for scheduled commencement of operations in 2023. Study has been conducted regarding Pan African (virtual) Stock Exchange to facilitate mobilization and flow of capital for development on the continent. The study is to be scrutinized by Finance and Monetary Affairs Ministers in 2017.
Second, is the Continental Free Trade Area (CFTA) with the deadline for concluding negotiations set for 2017. Negotiations are ongoing. Formation of Tripartite (COMESA, EAC and SADC) has been a giant step closer to CFTA.
Third, comes the African Commodity Strategy is expected to be adopted by the AU Assembly of 2017. Drawing a Plan of Action will then follow.
Fourth, is the Pan African Integrated High Speed Train Network. In this regard a five year action plan and a roadmap have already been agreed upon by AU and committed partners. Building of railways network is thriving in East Africa.
Fifth endeavor deals with the Single African Aviation Market. In this case draft memorandum between RECs and African Civil Aviation Commission (AFCAC) has been forwarded to the RECs for consideration. African airlines are fully committed to expeditiously implementing the Yamoussoukro Decision of 2002.
Sixth, project is energy generation focusing on the Great Inga Dam. The blue print has been developed. AUC is continuing to support mobilization of development partners and the private sector to get engaged in the project. Nigeria and South Africa have already indicated their intended purchase of the power generated by this project. Construction on Inga 3 is still expected to commence in June 2017. It will take about five to ten years to complete.
Seventh, project involves Free Movement of Persons and the African Passport. Consultations have been ongoing and include AU Member States, to develop and validate an AU Protocol on free movement in Africa. African Passport was inaugurated in Kigali in July 2016.
Eighth, undertaking is the annual African Economic Dialogue Platform aimed at bringing together for dialogue on business and economic issues the African Heads of State and Government (HOS & G), African business community, academia and civil society. Preparations are advanced for the inaugural forum in March 2017.
Ninth, is the effort to silence the guns on the African continent by 2020.Aprican Peace and Security Roadmap spanning 2016 – 2020 has been validated by the Peace and Security Council in Lusaka, Zambia, in November, 2016. It is expected to be considered and adopted by the AU Assembly during this 28th Summit of AU.
Tenth, has to do with the establishment of the Virtual University. Good progress has been made in the preparations. The stage of developing a staffing structure and developing a strategic plan and formulating draft project has arrived.
Eleventh, is the Pan – African E – Network on Tele – Education and Telemedicine (PAeN) The relevant Specialized Technical Committee (STC) on Information and Communication Technologies agreed in April 2016 to: (a) put in place the agreed governance and management structures; (b) effect the transfer of operating this network from India.
Twelfth, initiative is that of developing African Outer Space Strategy. The exercise to devise a clear roadmap for he governance of the African space policy and strategy is ongoing.
Thirteenth, plan of action to establish the Great Museum of Africa is being developed by the AUC in collaboration with Algeria, the host.
Clearly there is progress being made on every fast track programme/project. Implementation of Agenda 2063 has definitely commenced.
Most of these fast track/flagship programmes and projects have the quality of not only being development by themselves but also enabling and facilitating development in other areas. They are also development enablers.
Since implementation of Agenda 2063 is involving not only the public sector but also the private sector and civil society, these projects provide a rich field of investment opportunities.