Economy

East Africa is Africa’s fastest growing region, despite COVID-19 disruption

East africa tradeEconomic 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

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AUDA-NEPAD and Ecobank announce pillars of “100,000 MSMEs by 2021” programme

NEPAD MSMEAUDA-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)

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AfDB and development partners propel Somalia back from the brink

Somalia AfDB 11 JuneIn 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

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Sudan joins UN alliance to drive financial inclusion and transparency

Sudan photo GettyImagesSudan 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

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World Bank: Tanzania can seize opportunities to mitigate negative effects of COVID-19

Tanzania World BankNotwithstanding 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

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