• Privacy Policy
  • Terms
  • About us
  • Contact Us
Friday, March 24, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

AUC, AfDB sign $9.73m agreement to drive digital market

Digital

The Matters Press by The Matters Press
November 18, 2022
Reading Time: 2 mins read
0
Nigeria to promote digital innovation, entrepreneurship – Pantami

The African Union Commission (AUC) and the African Development Bank (AfDB) have signed a grant agreement of 9.73 dollars to drive digital market development in Africa.

RELATED POSTS

AfDB, BCI promote women’s access to finance in Africa with $485,000

Cooking gas price increased by 24.05% in one year – NBS

Nigeria inaugurates Committee on African Growth and Opportunity Act

In a statement issued on the website of the AfDB on Friday, the agreement signed is to implement Phase 1 of the Upstream Project for Digital Market Development in Africa.

The signing ceremony took place on Thursday at AUC headquarters in Addis Ababa, Ethiopia.

Amb. Albert Muchanga, AUC Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, and Dr Abul Kamara, AfDB’s Deputy Director General, East Africa Region both signed the agreement.

ALSO READ  Expert calls for robust regulation for digital money lenders

The AfDB’s Board of Directors approved the grant of seven million Units of Account (9.73 million dollars) in September.

Muchanga, however, expressed the AUC’s gratitude to the AfDB for its support.

He said: “The COVID-19 pandemic underscored the importance of digital technologies and the digital economy as a whole, and in that regard, Africa should think big when it comes to digital development, digital economy and the grand opportunities on integration and economic growth.”

Moreover, Kamara said the project would support the implementation of the AfDB’s High 5 priorities as accelerators to achieve Agenda 2063 targets.

He also said the project would support the continent’s economic transformation to get “The Africa We Want”.

ALSO READ  Digital marketing experts task SMEs on leveraging social media for growth

He added: “It is important to create employment opportunities for millions of young Africans, which is essential for the stability and prosperity of the continent.

“The digital transformation of economies offers new opportunities to increase intra-Africa trade and boost economic growth.”

The project supports the AUC’s implementation of digital economy projects to enhance a continental single digital market.

It also supports the implementation of the African Continental Free Trade Area and the Digital Transformation Strategy for Africa.

According to the statement, Phase 1 runs from 2023 to 2026, which would focus on three main components namely: digital enablers; digital trade and e-commerce adoption; and support actions.

ALSO READ  Private sector proffers policy to grow economy

Specifically, the project would also help strengthen the frameworks and cross-cutting (gender, climate change and resilience) dimensions for the development of Africa’s digital economy.

The frameworks are strategic, policy, regulatory and conceptual.

These frameworks are key substrates to guide the establishment of a single digital market across the African continent by 2030.

The project would, therefore, contribute to the implementation of digital enablers, e-commerce and digital trade promotion programmes for medium, small and micro enterprises and start-ups.

Furthermore, It would also help to create a conducive ecosystem for digital trust, skills and African experts’ networks.

Tags: Digital
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Traditional female weavers yearn to boost earnings
Economy/Technology

AfDB, BCI promote women’s access to finance in Africa with $485,000

March 24, 2023
SON alerts on second hand gas cylinders
Economy/Technology

Cooking gas price increased by 24.05% in one year – NBS

March 24, 2023
Economy/Technology

Nigeria inaugurates Committee on African Growth and Opportunity Act

March 24, 2023
Nigeria urged to create enabling space for Fintech operators
Economy/Technology

CBN debunks viral news suspending fintech companies’ accounts

March 24, 2023
Reliable data critical in eradicating child labour- NBS boss
Agriculture

Food prices continue to rise in February- NBS

March 24, 2023
Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

CBN confirms evacuation of banknotes, directs banks to open for weekend operations

March 24, 2023
Next Post
Vulnerable Nigerian farmers to get $1m grant

Minister calls for reliable agriculture data for effective policy formulation

“Naira-4-Dollar” getting results

Naira gains marginally, exchanges at 445.75 to dollar

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Nigeria loses $25b to foreign ship owners

NPA expects 25 ships at Lagos ports

January 31, 2022
Nigeria seeks collaboration to resuscitate cotton industry

Association seeks support to reposition cotton

January 27, 2023
Council seeks incentives to boost indigenous ship operations

21 ships discharge products at Lagos ports

August 24, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • AfDB, BCI promote women’s access to finance in Africa with $485,000
  • Cooking gas price increased by 24.05% in one year – NBS
  • Nigeria inaugurates Committee on African Growth and Opportunity Act

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?