Finance Minister Tito Mboweni has been appointed a member of the board of trustees of the AU Peace Fund. File picture: Phando Jikelo/African News Agency(ANA)

Pretoria - Finance Minister Tito Mboweni has been appointed a member of the board of trustees of the African Union (AU) Peace Fund, which will finance mediation and preventive diplomacy activities, institutional capacity requirements, and peace support operations, the ministry said on Sunday.

"The appointment of the trustees of the AU’s Peace Fund is a key step in the implementation of the financing of the AU’s agenda, which is part of the ongoing institutional reform process," the ministry said in a statement.

The role of the board of trustees was to ensure strategic coherence and enhanced governance, financial, and administrative oversight of the peace fund.

Mboweni also served on the AU reforms steering committee convened by President Paul Kagame of Rwanda. The July 2016 assembly of the AU in Kigali, Rwanda, mandated Kagame to prepare a study on institutional reform of the AU.

“I am delighted that the African Union has asked me to be a member of the board of trustees of the peace fund. The guns really need to be silenced in Africa,” Mboweni said in the statement.

Mboweni is also a governor of the New Development Bank, a multilateral development bank established by the Brazil, Russia, India, China, and South Africa (BRICS) bloc.

African News Agency (ANA)