• African Continental Free Trade Area (AfCFTA) Secretariat sign and African Development Bank Group AfDB

To improve the secretariat's efficient execution, the AfDB and the AfCFTA Secretariat have entered into a memorandum of understanding for a USD11.24 million funding package. The ceremony occurred on July 25, 2022, in Accra, Ghana. It intends to promote sustainable intra-African trade and increase the number of African member states participating in the AfCFTA Secretariat for its benefit. In addition, the monies are meant to encourage the goal of African commercial integration.

Source: AfDB

  • The World Bank gives the African Center for Disease Control (CDC) a $100 million boost to improve regional public health readiness.

The World Bank has approved a $100 million assistance program for the Africa Centers for (Africa CDC) Disease Control and Prevention, which will help build the organization's technical capacity and solidify its legal structure to increase support for African country's efforts to prepare for public health emergencies and disease outbreaks.

Source: World Bank

  •  In The Financial Year 2022, IFC Gave Record-Breaking Funding To Africa Totaling Usd9.4 Billion

IFC invested USD9.4 billion across 36 nations from 1 July 2021 till 30 June 2022, setting a new record for funding in Africa. Among many other urgent development needs, the investment strengthened food security expanded access to environmental financing, expanded intra-Africa commerce, and developed local pharmaceutical production.

Source: ESI Africa

  •  EAC Announces Kes1.3 Trillion in Business Funding

A KES1.3 trillion circulating fund targeted at the region's micro, small, and medium-sized businesses has been established by the East African Community (EAC). The program, developed in collaboration with the MasterCard Foundation and Equity Bank Group, aims to give national bloc traders access to building capacity.

Source: The Standard

  •  Deal Worth Usd13 Billion between Eac and Equity Bank to Advance Trade and Integration

The national lender Equity Bank is attempting to carry out its comprehensive Africa Resilience and Recovery and Resilience Plan, which is aimed at East African small enterprises, by building on the rules of the East African Community (EAC). To expedite the plan, the bank and the EAC signed an MoU on the margins of the 21st Ordinary Heads of State Summit. The MoU provides a mechanism for financial assistance and development funding using the Common Market's facilities.

Source: The East African

  •  Electronic Single Window System (eSW) Implementations

The Technical Working Group on Immigration (TWG) held its inaugural meeting in Addis Abeba, Ethiopia, from July 18, 2022, to July 21, 2022, to analyze various studies submitted to create the eSW. 

Source: COMESA