[1] The Lome Summit (2000) adopted the Constitutive Act of the African Union, which specifies the objectives, principles, and organs of the AU.
[2] In 2005, the AU held a meeting of independent experts in Addis Ababa, Ethiopia, to consider concept papers and draft Protocols prepared by the African Union Commission (AUC) regarding the three institutions.
[1] On 21 November 2006, the AUC held a meeting in Yaoundé, Cameroon, to outline the implementation of the three African Financial Institutions as per Article 19 of the Constitutive Act.
Eligible countries who do not become members when operations begin may be subsequently admitted, under terms and conditions established by the Board of Governors (BOG), following the affirmative vote of at least four-fifths of the Governors, representing not less than three-fourths of the member's total voting power.
It will be divided into a number of shares with a specific par value, which shall be available to members for subscription in accordance with the provisions in the Agreement.