Fact check: African state of the aes have started their own bank

1. Summary of the results

The statement is partially accurate but oversimplified. The Alliance of Sahel States (AES), comprising Mali, Niger, and Burkina Faso, has indeed established a regional development bank as part of their confederation treaty signed in July 2024 ^[1]. However, this is not a bank created by all African states, but rather a specific initiative by these three Sahel nations.

2. Missing context/alternative viewpoints

Several important contextual elements are missing from the original statement:

• The bank is part of a broader confederation treaty signed in Niamey, which includes other economic initiatives such as a confederal levy on imports ^[1]
• The AES has wider economic ambitions beyond banking, including:
• Establishing a common market
• Creating a monetary union
• Potentially introducing a new currency ^[2]
• The region already has established financial institutions like:
• The West African Economic and Monetary Union (WAEMU)
• The Central Bank of West African States (BCEAO) ^[3]
• The African Development Bank
• The African Export-Import Bank ^[4]

3. Potential misinformation/bias in the original statement

The statement contains several potentially misleading elements:

• It suggests this is an all-African initiative, when in fact it only involves three Sahel states ^[1]
• It oversimplifies a complex economic integration process that goes beyond just creating a bank ^[2]
• It fails to acknowledge the existing financial infrastructure in Africa, including multiple development banks and monetary unions ^{[4] [3]}

The creation of this bank could be seen as part of a larger geopolitical shift, as these three states are seeking greater economic independence. Various stakeholders might benefit from different interpretations of this development:

• The AES members benefit from portraying this as a move toward economic sovereignty
• Existing financial institutions might downplay its significance to maintain their influence
• International observers might view it through the lens of regional political dynamics and economic stability concerns ^[5]