Smart Africa and the African Development Bank (AfDB) partner to advance Digital Payments and e-Commerce Policies for Cross-border Trade in Africa

KIGALI, Rwanda, 2021-Dec-22 — /EPR Network/ — Smart Africa and the African Development Bank (AfDB) have announced a partnership to improve Digital Payments and e-Commerce Policies for Cross-border Trade in Africa. The partnership, which comes through a $1,5million grant, aims to strengthen the enabling environment for digital trade across Africa by developing harmonized e-payment ecosystem policies and fostering new economic activities enabled by digital technologies to create more jobs.

 

Improving intra-African trade is important to Africa’s socio-economic development and to empower communities across the continent.  Smart Africa and AfDB commit to investment in data and digital infrastructure to support innovation, growth and the creation of jobs in the digital economy. This will be done through developing a gender responsive policy framework to facilitate cross-border trade through harmonized e-Payment systems, promoting dialogue across e-payments stakeholders to increase public-private participation, and supporting several countries to develop action plans to enable e-Payments for the facilitation of inclusive digital trade.

 

Smart Africa is an alliance of 32 African countries, international organisations and global private sector players tasked with defining Africa’s digital agenda. The alliance is empowered by a bold and innovative commitment by African Heads of State to accelerate sustainable socio-economic development on the continent and usher Africa into the knowledge economy through affordable access to broadband and the use of ICTs. With a vision to create a single digital market in Africa by 2030, the Smart Africa Alliance brings together Heads of State who seek to accelerate the digitalization of the continent and create a common market.

 

“One of the critical challenges preventing the continent from matching into Africa’s bold new future is the inability to conduct cross-border payments for goods and services due to both lack of solutions and crippling policies. Our partnership with the African Development Bank (AfDB) is crucial in creating an enabling environment to advance e-Payments and the digital economy which is essential for Africa’s renaissance,” said Mr. Lacina Koné, CEO/Director General, Smart Africa.

 

The anticipated results of the partnership are significant improvements in the digital payments enabling environment for cross-border trade through harmonized policies that are gender responsive and a marked  in cooperation amongst countries in addressing e-Payment challenges.

 

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 Bank’s intervention complements other national, regional, and international efforts to break trade barriers and increase the flow of goods and services among African countries. At policy level, the Bank will leverage the knowledge and expertise gained by supporting Regional Member Countries (RMCs) address gaps in payment systems or national and regional payment switches, including the Bank’s interventions through the WAMZ Payment System Development Project and the EAC Payment and Settlement Systems.

 

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About Smart Africa

 

Smart Africa is an alliance of 32 African countries, international organisations and global private sector players tasked with Africa’s digital agenda. The alliance is empowered by a bold and innovative commitment by African Heads of State to accelerate sustainable socio-economic development on the continent and usher Africa into the knowledge economy through affordable access to broadband and the use of ICTs. With a vision to create a single digital market in Africa by 2030, the Smart Africa Alliance brings together Heads of State who seek to accelerate the digitalization of the continent and create a common market. Launched in 2013 by seven (7) African Heads of State, the Alliance now has 32 member countries, representing over 815 million people and over 40 Private Sector members committed to the vision and the advancement of Africa.

 

For more information, contact:

 

Smart Africa Secretariat

E-mail: comms@smartafrica.org

Website: www.smartafrica.org

Twitter: @RealSmartAfrica

Facebook: RealSmartAfrica