African continent key to Global South's future — Brazilian leader

Brazilian President Luiz Inacio Lula da Silva told the African Union summit Heads of State meeting in Ethiopia on Saturday that the African continent is indispensable for the cohesion and progress of the Global South.

“My friends, I would like to say that there is no Global South without the African continent,” he said.

Lula emphasised the vast potential inherent in Africa across numerous domains.

He highlighted the continent's rich resources, burgeoning economies and vibrant cultures as pillars of opportunity for global collaboration and growth.

Lula pledged his government's unwavering commitment to strengthening ties with Africa and affirmed Brazil's dedication to exploring and harnessing the immense potential of Africa, recognizing it as a key partner in shaping a more prosperous and interconnected world.

Calls for Gaza ceasefire

African leaders at the summit vehemently condemned Israel's ongoing offensive in Gaza, urging for an immediate ceasefire as civilian casualties rise.

Outgoing Chairperson of the African Union, Azali Assoumani, who is President of the Comoros, joined other leaders in condemning Israel's offensive in Gaza and demanded an immediate ceasefire and respect for international law.

Moussa Faki, Chair of the African Union Commission, issued a vehement condemnation of Israel's offensive in Gaza, denouncing it as a blatant disregard for international humanitarian law and expressing profound concern regarding the mounting civilian casualties.

Solidarity with Palestine

Faki denounced indiscriminate attacks on Gaza's population and infrastructure, emphasising the urgent need for an immediate ceasefire to prevent further loss of life.

"The African Union assures you of its solidarity with the people of Palestine," said Faki.

Palestinian Prime Minister Mohammad Shtayyeh, expressed heartfelt appreciation for Africa's unwavering support amid the ongoing crisis in Gaza, hailing the continent's solidarity in the face of adversity.

On economic matters, African leaders reiterated their commitment to expediting the creation of an African Monetary Union through the harmonization of monetary zones to promote economic unity.

The initiative involves establishing three key financial institutions across Africa under the African Union umbrella -- the African Central Bank (ACB), the African Monetary Fund (AMF) and the African Investment Bank (AIB).

Nigerian President Bola Tinubu pledged his country's readiness to host the African Central Bank.