DAR ES SALAAM, July 8 (Xinhua) -- The East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) have taken a major step toward integrating the region's digital markets, according to a statement released Tuesday by the EAC headquarters in Arusha, northern Tanzania.
The announcement followed a high-level workshop held under the Eastern Africa Regional Digital Integration Project (EARDIP), a flagship initiative jointly implemented by IGAD and the EAC with support from the World Bank.
The EARDIP aims to accelerate digital integration across the region by expanding broadband infrastructure and enhancing the regulatory environment for cross-border digital services, particularly digital payments, an essential driver of trade, remittances, and financial inclusion, according to the statement.
The statement said the workshop, held from June 30 to July 4 in Addis Ababa, the capital of Ethiopia, brought together central bankers, digital finance experts, and senior policymakers from nine countries.
Discussions focused on developing harmonized legal, regulatory, and supervisory frameworks to enable faster, safer, and more inclusive cross-border payments throughout Eastern Africa, the statement added. ■