Economy

African governments have committed to support MSMEs at the national level. (Image source: Enhanced Integrated Framework/Flickr)

AUDA-NEPAD, the African Union Development Agency, and Ecobank Group are committing to pool African resources, capabilities, financing, market access and technology, to help achieve a continental response to resources to Africa’s Micro Small and Medium Enterprises (MSMEs)

Somalia also benefitted from the Bank’s drought-related assistance channeled through the Intergovernmental Authority on Development. (Image source: United Nations Photo/Flickr)

In early 2020, Somalia, with support from the United Kingdom Government and the European Union, settled its arrears to the African Development Bank (AfDB), paving the way for the lifting of 30-year old sanctions imposed by the Bank and the resumption of full engagement with the fragile East African country

The transition to digital payments is in line with the Government of Sudan’s intention to establish the multi-ministerial Digital Transformation Agency. (Image source: Ministry of Finance & Economic Planning, Republic of Sudan)

Sudan has joined the United Nations-based “Better Than Cash Alliance” and announced commitment to accelerate digital payments, improving financial inclusion and transperancy throughout Sudans vast territory

The report recognises mitigating steps government has already taken, and this forecast assumes the authorities will take additional health and economic policy measures to mitigate negative impacts. (Image source: Jorge Cancela/Flickr)

Notwithstanding Tanzania’s strong growth performance in 2019, its economy will also suffer the effects of the COVID-19 pandemic and global economic crisis, according to a World Bank report