Telecom

African Development Fund grants $1.5 million to Smart Africa Alliance

African Development Fund grants $1.5 million to Smart Africa Alliance
Saturday, 18 December 2021 11:20

The Board of Directors of the African Development Bank Group has approved a $1.5 million grant to assess policy gaps in the digital trade and e-commerce ecosystems in 10 countries in Africa.

The funds, sourced from the African Development Fund, the Bank’s concessional window, will go to the Smart Africa Alliance, an alliance of 32 African countries, international organisations and global corporations with a vision to create a single digital market in Africa by 2030.  

Nicholas Williams, the Bank’s Division Manager for ICT Operations, said: “This project is both timely and vital. For the continent to create a unified digital market by 2030, efforts should focus on harmonizing and building a cohesive policy environment for intra-continental trade. The Bank is delighted to partner with the Smart Africa Alliance to advance key policy objectives that will support broader digital development across Africa.” 

The project will study the policy environment in 10 countries: Côte d’Ivoire, Benin, Ghana, Liberia, Uganda, South Sudan, Zimbabwe, The Republic of Congo, São Tomé and Príncipe, and Democratic Republic of Congo. Smart Africa will consult public and private sector actors to develop an online training program that will directly benefit 600 stakeholders (comprising of government officials, small and medium enterprises, private sector mobile network operators) and indirectly benefit another 2,500.  

Lacina Koné, CEO of Smart Africa, said: “One of the critical challenges preventing the continent from preparing for Africa’s bold new future is the inability to conduct cross-border payments for goods and services due to a lack of solutions and crippling policies. Our partnership with the African Development Bank is crucial in creating an enabling environment to advance e-payments, and the digital economy is essential for Africa’s renaissance.”

57674 idect project press release ii ottc gwueclean final

On the same topic
TCS, Sybyl, and iXAfrica signed an MoU to establish sovereign cloud infrastructure in Kenya and East Africa. TCS provides AI-powered cloud...
MTN Group reached 301.3 million customers across 16 markets, highlighting its expansive footprint in Africa. Fintech transaction value surged 38.0% to...
The government confirms a major intrusion into the newly launched national e-visa system, with data from tens of thousands of applicants potentially...
MTN partners with Microsoft to roll out AI tools from 2026 Copilot and Microsoft 365 to boost learning across MTN user devices MTN shifts toward...
Most Read
01

DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...

DRC in Talks with Alibaba, Isoftstone to Develop a Chinese-Style E-Commerce Model
02

The new unified platform replaces the NIBSS Instant Payments system. It connects banks, finte...

Nigeria Launches National Payment Stack, Targets Faster Digital Transactions
03

Germany to provide €49 million ($56.7 million) to support ECOWAS projects. Funds target peac...

ECOWAS secures $56.7mln German support for security and governance
04

Nigeria implemented the National Payment Stack (NPS), a new unified infrastructure, to enhance dig...

Beyond Banks: Nigeria’s National Payment Stack Embraces Fintechs
05

Social media users accuse the UAE of backing Sudan’s RSF militia. Activists and celebrities c...

UAE faces backlash over alleged role in Sudan’s gold and arms trade
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.