The African Development Fund (ADF), the lending arm of the African Development Bank (AfDB) Group, has approved a $9 million grant to deepen financial integration across East and the Horn of Africa.
The AfDB is also preparing to showcase new business opportunities at the 22nd Tunisia Investment Forum.
The grant, approved on June 12 under the African Development Fund’s 16th replenishment cycle, will finance the East Africa and Horn of Africa Capital Markets and Payment Systems Integration Project (EAC-CAMPSI).
The East African Community (EAC) Secretariat will implement the project, which aims to accelerate cross-border investments, improve the efficiency of financial markets and expand access to long-term financing across nine countries: Burundi, the Democratic Republic of the Congo, Ethiopia, Kenya, Rwanda, Somalia, South Sudan, Tanzania and Uganda.
According to the African Development Bank, EAC-CAMPSI is expected to foster more efficient and integrated capital markets, improve access to financial services for businesses and citizens, strengthen market infrastructure and payment systems, enhance the regulatory and institutional capacity of participating countries, and promote greater participation of women and young people in regional financial markets.
The project advances the East African Community Cross-Border Masterplan (2025-2030) and contributes directly to the objectives of the African Continental Free Trade Area (AfCFTA) by strengthening the financial infrastructure needed to support regional trade and investment.
EAC Secretary-General Stephen Patrick Mbundi described the project as an important milestone for 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.”
Ahmed Attout, AfDB’s Director for Financial Sector Development, said integrated financial markets are essential to Africa’s economic transformation.
“The project reflects the Bank’s commitment to advancing regional integration through practical, high-impact investments. It will strengthen both the infrastructure and regulatory foundations needed to mobilise domestic capital, deepen regional markets and support greater economic resilience,” Attout said.
Meanwhile, as part of its broader strategy to strengthen private sector participation across Africa, the Bank Group will also participate in the 22nd Tunisia Investment Forum, taking place in Tunis from June 25-26 under the country’s Ministry of Economy and Planning.
The forum is expected to bring together nearly 1,000 participants, including government officials, investors, financial institutions, development partners and business leaders. The African Development Bank will participate in plenary and high-level sessions and co-organise a seminar with the World Bank Group on business opportunities linked to donor-financed procurement.
The seminar aims to present contract opportunities financed by the African Development Bank Group, increase the participation of Tunisia’s private sector in regional projects, and promote dialogue between financing institutions and businesses.
Expected outcomes include stronger awareness among Tunisian companies of business opportunities financed by the African Development Bank and the World Bank Group, a better understanding of each institution’s procurement procedures, stronger dialogue between financiers and the private sector, and the identification of partnerships and joint ventures that will enable Tunisian firms to compete more effectively for development contracts.
Companies operating in construction and infrastructure, engineering and consulting, electrical and industrial equipment, manufacturing, technology, energy, water and sanitation, alongside business associations and public institutions, are expected to participate.
Together, the East Africa integration project and the Tunisia Investment Forum underscore the African Development Bank’s continued focus on strengthening regional integration, mobilising investment and creating new opportunities for businesses across the continent.
