G20 grants permanent membership to African Union
1 min Read September 7, 2023 at 1:04 PM UTC

Highlights
- The G20 grouping of nations has agreed to grant permanent membership to the African Union, Bloomberg News said on Thursday, citing people familiar with the matter.
- The move would give the African Union, a continental body of 55 member states, the same status as the EU, from its current designation of “invited international organization”.
- Countries like India, Germany, Brazil, and Canada have also expressed their support for African Union membership to the G20.
Source: Bloomberg
Our Takeaway
The G20 or Group of 20 is an intergovernmental forum of the world’s major developed and developing economies, which represent around 85% of global GDP, over 75% of global trade, and about two-thirds of the world population. The bloc’s AU invitation was imminent given that the union, as an economic bloc, ranks as the 8th largest in the world since the African Continental Free Trade Area (AfCFTA) came into effect in January 2021 in addition, African countries have vital resources to address energy challenges across the world.
This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.






Next Frontier
Stay up to date on major news and events in African markets. Delivered weekly.
Pulse54
UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.
Events
Sign up to stay informed about our regular webinars, product launches, and exhibitions.


