The African Union said today that it was considering taxes on air tickets, imports and insurance premiums to raise funds for the 53-member bloc.
The Addis Ababa based organisation said in a statement that contributions from partners and member states were no longer adequate, sustainable and reliable to meet the Union's growing financing needs. It said that such taxes would not only have a significant revenue impact for the AU, but would also be equitable and efficient.
Historically, Muammar Qaddafi of Libya had been one of the bloc's major financiers.Olusegun Obasanjo, former president of Nigeria has been appointed to head a panel which investigates ways of financing the AU.
The African Union said that plane ticket taxes in Senegal and import duties in the Economic Community of West African States had proved effective techniques of funding.
Source: Bloomberg
