In this regard, CBK partnered with the Monetary Authority of Singapore (MAS) in 2019 to launch the Afro-Asia Fintech Festival to create a collaborative platform for African and Asian fintechs and regulators. On the back of this collaboration, two regional hackathons (competitions) drawing fintechs from across Africa were conducted in 2019 and 2020.
An efficient infrastructure development mainly for EAC in terms of roads and railway interconnectivity has the potential to increase from 3.7 million tonnes in 2007 to over 16 million tonnes by 2030, at an annual rate of growth of 6.7 percent, according to a study on the EAC Railways Master Plan.