- A Memorandum of Understanding (MoU) between African Union Commission (AUC) and the Africa Electronic Trade Group was signed recently with the objective of launching a Continental Smart Finance and Digital Banking Initiative for Small and Medium Enterprises, women and youth.
- The programme will be introduced in member states in line with the country’s strategies and financial policies to benefit the marginalized section of the society.
- The initiative will be a game changer for the Africa Continental Free Trade Area and for inclusive financial service and development, it is reported.
A Memorandum of Understanding (MoU) between African Union Commission (AUC) and the Africa Electronic Trade Group was signed recently with the objective of launching a Continental Smart Finance and Digital Banking Initiative for Small and Medium Enterprises, women and youth. The programme will be introduced in member states in line with the country’s strategies and financial policies to benefit the marginalized section of the society. The initiative will be a game changer for the Africa Continental Free Trade Area and for inclusive financial service and development, it is reported.
The Agreement was signed by AU Commissioner for Economic Development, Trade, Industry and Mining Albert Muchanga and Africa Electronic Trade Group Chief Executive Officer (CEO) Mulualem Syoum in Addis Ababa. The AU commissioner pointed out that African Youth has a critical role to play in Africa’s development and the initiative will empower them to contribute to the sustainable development of the continent. Africa Electronic Trade Group CEO, Mulualem Syoum said that the initiative will build digital capacity and facilitate financial activities of the market exchange.
