South African finance Minister Tito Mboweni has been appointed as a member of the Board of Trustees of the African Union Peace Fund.
“I am delighted that the African Union has asked me to be a member of the Board of Trustees of the Peace Fund. The guns really need to be silenced in Africa,” said Mboweni.
The fund will finance mediation and preventive diplomacy activities, institutional capacity requirements, and peace support operations.
The appointment of the trustees of the AU’s Peace Fund is a key step in the implementation of the financing of the AU’s agenda, which is part of the ongoing institutional reform process.
The role of the Board of Trustees is to ensure strategic coherence and enhanced governance, financial and administrative oversight of the Peace Fund.
Minister Mboweni also serves on the AU Reforms Steering Committee convened by President Paul Kagame of Rwanda.
The July 2016 Assembly of the AU held in Kigali mandated President Kagame to prepare a study on the institutional reform of the AU.
Mboweni is also governor of the New Development Bank, a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS).