Economic disruption caused by the COVID-19 pandemic has pushed East Africa’s growth projection for 2020 down to 1.2 per cent, a rate that outstrips other African regions and is forecast to rebound to 3.7 per cent in 2021, according to the African Development Bank’s (AfDB) East Africa Regional Economic Outlook 2020

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)

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

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

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