EABC , AfDB Sign USD 1 Million Grant Agreement to Drive Sustainable Industrialization in East Africa

The East African Business Council (EABC) and the African Development Bank (AfDB) have officially signed a landmark USD 1 million grant agreement to drive sustainable industrialization in East Africa. The signing marks a significant milestone in advancing regional economic integration, growth, and the competitiveness of East African Community (EAC) priority manufacturing value chains of edible oil, leather and textiles.

Speaking at the signing ceremony, Mr. Adrian Njau, Acting Executive Director EABC said “We are thrilled to partner with AfDB on this vital project that paves the way for stronger regional value chains, greater market access, and inclusive growth that benefits businesses and communities across East Africa.”

The EAC Industrialization Policy and Strategy (2012-2032) targets to raise the manufacturing share of GDP to at least 25% from an average of 10% by 2032.

The grant, will enhance industrial capacity through technical assistance, research, policy dialogue, and capacity building.

The project will strengthen the East African private sector to seize trade and investment opportunities availed by the EAC Custom Union and Common Market Protocols and the 1.3 billion consumer market under African Continental Free Trade Area (AfCFTA).

This will be through enhancing public private policy dialogue, evidence based advocacy to unlock barriers to in the selected priority value chains.

Environmental, Social, and Governance (ESG) principles and gender inclusion are critical in fostering inclusive and sustainable industrialization through the effective integration of SMEs, women, and youth value chain actors. Over 1,500 industries including SMEs will directly benefit from the project.

This initiative aligns with EABC’s mission to foster a conducive business environment and sustainable private sector-driven growth, as well as AfDB’s commitment to scale up and accelerate industrialization through the manufacturing sector across all African regions by 2033, as outlined in the Bank Group’s Ten-Year Strategy (2024-2033), and builds on the Integrate Africa High 5 vision.

About East African Business Council: The East African Business Council (EABC) is the regional apex body of private sector associations and Corporates from the 8 East African countries. It was established in 1997 to foster the interests of the private sector in the integration process of the East African Community. EABC vision is a borderless East Africa for business and investment. The primary mission is to advocate for a conducive business environment and promote sustainable, private sector–driven growth in the EAC region.