The African Union Commission has officially signed a Memorandum of Understanding (MoU) with Development Reimagined, reinforcing the continent’s drive to reshape global financial systems, unlock new development finance, and advance Africa’s position with global partners.
The agreement, signed on 12th February 2025 in Addis Ababa, Ethiopia, by H.E. Amb. Albert Muchanga, AU Commissioner for Economic Development, Trade, Tourism Industry & Minerals (ETTIM), and Hannah Ryder, CEO of Development Reimagined, signaled the two organisation’s commitment to jointly work to address Africa’s financial challenges, shift outdated risk perceptions, and ensure African agency in global economic decision-making.
Speaking at the signing, CEO of Development Reimagined Hannah Ryder said: “For us, this MoU is not just a formality—it is a blueprint for our work going forwards to support the African Union and its Member States in achieving Agenda 2063 and the SDGs through international policies and partners. We are incredibly proud of the confidence and trust the AUC has already put in us over the years, and we look forward to working even more closely in partnership to help the rest of the world and global institutions reflect the continent’s priorities and potential”.
The MoU identified five specific areas of cooperation between the AUC and Development Reimagined going forwards:
- Rethinking Africa’s debt architecture to ensure African countries have easier access to debt relief and restructuring where needed;
- Reforming credit ratings and risk perceptions to bring Africa’s future costs of capital down;
- The establishment of Africa’s multilateral financial institutions and attracting external concessional finance for Agenda 2063 and it’s subsequent programs including related to cross-border infrastructure;
- Knowledge partnership for strategic engagement of the African Union and Member States in the G20;
- Work to strengthen Africa’s partnerships with other nations to primarily benefit the development of African countries and the continent as a whole.
This agreement comes at a pivotal moment when African economies are navigating high inflation, currency fluctuations, and tightening global financial conditions. With the African Continental Free Trade Area (AfCFTA) unlocking new trade opportunities, Africa needs a stronger, global system that enables growth rather than limits it.
By joining forces with Development Reimagined – a mission-driven firm with a strong track record of analyzing and proposing African-led solutions to global economic challenges – the AU is sending a clear message: Africa is no longer just a participant in global economic affairs—it is a strategic leader shaping the rules of engagement.
February 2025
