Outcome 2: Review and Implement the APRM Core Mandate 117. Related to the review and implementation of our core mandate we believe the introduction of Flagship Projects can play a critical role. The Flagship Projects will be catalysts to enhance and fast-track the realisation of APRM goals. Five Flagship Projects have been identified in the first instance: 115. The primary consideration here is the need to ensure the APRM mandate and priorities are adapted to the changing governance realities on the continent over time. In this context, while the APRM has been undergoing a difficult period, it is reassuring to see that our member states and other partners are counting on the APRM to provide its services in the pursuit of the new generation of global and continental goals spanning decades into the future. This might be a challenge for the institution today but it is also an opportunity the APRM must grasp. This strategic plan is written with that very objective in mind. (i) Transformative Leadership (within the Democracy and Political Governance thematic area); (ii) Inclusive Growth (within the Socio-Economic Development thematic area); (iii) Mobilising Domestic Resources for national development (within the Economic Governance & Management thematic area); 116. Another area that is increasingly becoming important is the influence of international rating agencies on the ability of African countries to attract foreign investment, and particularly to raise capital on international financial markets. Based generally in Europe or North America, these agencies assess every country on the basis of metrics and indicators they develop independently of the countries being assessed and rated, and typically on the basis of criteria that have particular relevance in the economics and culture of the Western World. The effect very often is the assignment of numbers to countries whose cultures, traditions and economic structures they hardly understand. It is thus not surprising that the African countries they condemned as near failed states often recover from their predicament within much shorter timeframes than they imagined or expected. However, and regardless of such resilience, a country so condemned by the rating agencies will have no option but to continue paying interest rates several times higher than what would be available to a similarly-situated country but for the grade awarded to it by rating agencies. The resulting outflow of foreign currency, not to mention the piling-up of unserviceable debts on the shoulders of our countries, has persuaded many of our leaders to look to the APRM as a possible countervailing force in this field. The confidence our member states are putting on the APRM is highly gratifying, but the responsibility is also enormous. In appreciation of this situation, we aim to launch a series of initiatives and projects in this area. (iv) Improved Governance of State Owned Enterprises (within the Corporate Governance thematic area); and (v) Universal Accession to the APRM by all AU Member States (which applies at the institution level as a whole). 118. The Flagship Projects are high impact initiatives for promoting the APRM’s mission. Under the umbrella of each Flagship Project, champions and panellists will be identified to engage in advocacy work, create or host good practice networks of member states, convene high-level events, reach out to stakeholders and partners, etc. 119. The action points that need to be taken in order to meet existing and new mandate-related challenges include: (i) Ensure APRM is officially recognised as one of the mechanisms, in collaboration with other institutions, for Agenda 2063 and the SDGs, prepare detailed methods and processes for monitoring and submit for official adoption, and publish first monitoring and evaluation reports; (ii) Establish and/or strengthen working relations with relevant continental and global bodies; (iii) Carry out an exploratory and scoping study to better understand the gravity of the issues involved in the field of country ratings, the players on the ground, and determine the potential role of the APRM in the field; –25–