In a major institutional milestone, the Confederation of Sahel States (AES) announced on Friday the creation of the Confederal Bank for Investment and Development (BCID-AES) during a high-level ministerial meeting held in Bamako.
The meeting focused on the “development pillar” of the regional bloc and underscores the growing ambition of the Burkina Faso–Mali–Niger alliance to take control of their economic future.
The session, held at the Centre international de conférences de Bamako (CICB), brought together key figures including Nigerien Prime Minister Ali Mahaman Lamine Zeine, Malian Prime Minister General Abdoulaye Maïga, and Burkina Faso’s Minister of Economy and Finance, Dr. Aboubakar Nacanabo.
A Strategic Vision for Self-Sustained Growth
The BCID-AES is designed to provide autonomous financing for critical infrastructure and development projects across the Sahel, reducing dependence on external institutions and aligning with the local needs of the member countries. The move represents a step toward financial sovereignty, one of the four pillars guiding the AES along with collective security, economic integration, and cultural and educational identity.
Dr. Nacanabo praised the initiative, stating that it positions the Sahel as a rising force in African and global affairs. Prime Minister Zeine emphasised the importance of shared commitment to the confederation’s goals, while General Maïga described the initiative as a historic turning point, reflecting the vision of the College of Heads of State of the AES.
“This is a new chapter of our shared history, one our children will read with pride,” said Maïga, calling the bank a symbol of Pan-African audacity and collective aspiration.
A Shift Away from ECOWAS
The announcement comes as the three AES countries formalise their break from the Economic Community of West African States (ECOWAS) and explore new frameworks for regional cooperation. Founded in September 2023, the AES aims to serve as a vehicle for endogenous development and restore sovereignty among its member states, home to 78 million people.
“The creation of the Alliance of Sahel States will remain a landmark for all Pan-Africans,” concluded Maïga, highlighting the sense of purpose driving this new regional bloc.
The BCID-AES initiative closely follows technical discussions held in Bamako between the AES and ECOWAS regarding future relations, reflecting a strategic reorientation in West Africa’s geopolitical and economic landscape.
AC/Sf/lb/as/APA