Jagomohan Dalmiya, chief of the Asian Cricket Council, has been elected chairman of the AACC for the first three years, while African Cricket Association president Peter Chingoka would be the vice-president.
ACC Chief Executive Syed Ashraful Huq has been nominated convenor and a committee has been set up comprising three ACC representatives and an equal number from the ACA.
The agreement would run for three years, and the new body would hold at least one ODI series between an Africa XI and Asia XI each year, an ACC media release said here today.
Ten per cent of the net revenues obtained from staging these ODIs would be donated to charity.
Huq said the ODIs would showcase the best cricket that Asia and Africa had to offer.
"We are also joining this landmark association in order to promote cricket at all levels. There will be representative age-group matches between the two continents in tournaments organised by us."
"For development of cricket there will be a regular exchange of administrative personnel, curators, coaches and umpires. We will emerge as stronger cricketing forces as a result of this cooperation," he said.
"We are confident that this agreement between the ACA and ACC will further strengthen existing ties between us. In a time of increasing global division, the body we have formed will be a substantial symbol of international unity," Chingok said.