The African Development Bank (AfDB) has approved a $9 million (Sh1.2 billion) grant to strengthen financial integration across East Africa and the Horn of Africa.
Kenya is among the nine countries set to benefit from the funding. The funding will support the region’s Capital Markets and Payment Systems Integration Project (EAC-CAMPSI).
It will be financed through the Fund's 16th replenishment cycle, with implementation led by the East African Community (EAC) Secretariat.
Besides Kenya, the project will benefit Burundi, the Democratic Republic of Congo (DRC), Ethiopia, Rwanda, Somalia, South Sudan, Tanzania and Uganda.
Notably, the initiative seeks to accelerate cross-border investments, strengthen financial market infrastructure and payment systems, and improve access to financial services for businesses and citizens across the region.
The project is also expected to enhance the regulatory and institutional capacity of participating countries while encouraging greater participation of women and youth in regional financial markets.
By deepening regional capital markets, the initiative aims to unlock long-term financing needed to support economic growth and private sector development.
The EAC-CAMPSI project aligns with the East African Community Cross-Border Masterplan (2025–2030) and supports the objectives of the African Continental Free Trade Area (AfCFTA) by strengthening the financial infrastructure required to facilitate regional trade and investment.
EAC Secretary General Stephen Patrick Mbundi underscored the importance of the initiative in driving regional economic integration.
“The future of East Africa’s economy will depend not only on the movement of goods and services, but also on the seamless movement of capital,” Mbundi said.
“This project represents an important step toward a more integrated regional financial system that can mobilise investment, deepen financial markets, and create new opportunities for businesses and citizens across our region. We welcome the African Development Bank’s continued partnership in advancing the East African Community’s vision of a more connected and prosperous East Africa.”
AfDB Group Director for Financial Sector Development, Ahmed Attout, said integrated financial markets are critical to Africa's long-term economic transformation.
He noted that the project demonstrates the Bank's commitment to supporting regional integration through practical investments that strengthen financial systems and enhance resilience across participating economies.
Once implemented, the project is expected to create more efficient and interconnected financial markets, making it easier for investors to access opportunities across borders while improving businesses' ability to raise capital.
The initiative is also expected to contribute to broader regional economic integration by creating a stronger financial foundation for trade, investment and sustainable development across East Africa and the Horn of Africa.
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