The East African Business Council (EABC), the regional apex body of the private sector with member states of Kenya, Uganda, Tanzania, Burundi, Rwanda and South Sudan have signed a memorandum of understanding with the African Export-Import Bank (Afrieximbank).
- The partnership will enable East African companies and small and medium enterprises (SMEs) to tap the benefits of the African Continental Free Trade Area through the Mansa digital platform.
The East African Business Council (EABC), the regional apex body of the private sector with member states of Kenya, Uganda, Tanzania, Burundi, Rwanda, and South Sudan have signed a memorandum of understanding with the African Export-Import Bank (Afrieximbank). The Partnership will launch the African customer due diligence platform, a centralised source of due diligence information in the region. The digital platform is expected to ease the flow of capital and accessibility to trade finance, which in turn can enhance the scale of business in Africa.
Announcing this over a virtual forum, EABC chief executive John Bosco Kalisa said that the partnership will enable East African companies and small and medium enterprises (SMEs) to tap the benefits of African Continental Free Trade Area through the Mansa digital platform.
The digital platform will serve as a the single primary tool for Know-Your-Customer data essential for customer due diligence checks on counterparties in Africa, including African corporates, SMEs, and financial institutions.
