AfDB Approves $9 Million for East Africa Financial Integration

The initiative will focus on building stronger and more connected capital markets while making financial services more accessible for businesses and citizens throughout the region.

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has approved a US$9 million grant to strengthen financial integration across East Africa and the Horn of Africa through a new regional project.

The funding will support the East Africa and Horn of Africa Capital Markets and Payment Systems Integration Project (EAC-CAMPSI), which will be implemented by the East African Community (EAC) Secretariat. The initiative is designed to improve cross-border investment, modernise financial market infrastructure and expand access to long-term financing across the region. Nine countries will take part in the programme: Burundi, the Democratic Republic of Congo, Ethiopia, Kenya, Rwanda, Somalia, South Sudan, Tanzania and Uganda.

Project aims to improve investment and financial access

The initiative will focus on building stronger and more connected capital markets while making financial services more accessible for businesses and citizens throughout the region. It also seeks to improve payment systems, strengthen financial market infrastructure and enhance the regulatory and institutional capacity of participating countries. The project places special emphasis on increasing the participation of women and young people in regional financial markets by creating more opportunities to access investment and financial services.

The programme supports the East African Community Cross-Border Masterplan 2025–2030 and contributes to the goals of the African Continental Free Trade Area (AfCFTA) by improving the financial systems needed to facilitate regional trade and investment.

Leaders see stronger financial links driving regional growth

East African Community Secretary General Stephen Patrick Mbundi said a more integrated financial system is essential for the region's future economic development. He noted that the movement of capital will become just as important as the movement of goods and services in supporting economic growth.

Mbundi said the project will help mobilise investment, deepen financial markets and create new opportunities for businesses and communities across East Africa. He also welcomed the African Development Bank's continued support for the EAC's regional integration agenda.

African Development Bank Group Director for Financial Sector Development Ahmed Attout described integrated financial markets as a key element of Africa's economic transformation. He said the project reflects the Bank's commitment to supporting regional integration through practical investments that strengthen financial infrastructure, improve regulatory systems, mobilise domestic capital and build greater economic resilience.