African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is pleased to report that agreements and transactions totaling US$43.8 billion were finalized during the third Intra-African Trade Fair (IATF2023), which took place in Cairo from November 9 to November 15.
The continental event’s organizers stated in final tallies announced in Cairo that the sum reflected the value of 426 deals completed in 21 sectors across 52 countries. During a press conference announcing the outcomes, Mrs. Kanayo Awani, Executive Vice President (Intra-African Trade Bank) at Afreximbank, disclosed that 1,939 exhibitors from 130 countries participated in the trade show, drawing in 28,282 attendees both in person and virtually through the IATF platform.
One of the noteworthy deals was the Export Agriculture for Food Security Framework, which was carried out by a number of African nations acting as Origin Countries and ARISE Integrated Industrial Platforms, Arise IIP acting as Anchor Investor. Afreximbank committed US$2 billion to this initiative in order to increase agricultural product production, processing, and intra-African trade as well as to give African farmers and agribusinesses access to larger markets throughout the continent.
The IATF, according to Mrs. Awani, has effectively established itself as Africa’s preeminent trade and investment forum. It possesses the exceptional ability to boost intra-African trade and investment, particularly in light of the implementation of the African Continental Free Trade Area (AfCFTA) Agreement.
“I am happy to announce that the excitement and energy created by IATF2023 will be felt throughout Africa and beyond for many years to come, building on the successes of IATF2018 and IATF2021,” the statement reads. She continued, “Together, we have investigated novel avenues and unlocked fresh avenues for a more promising future for our continent.
The African Tourism Forum and Investment Forum, the African Auto Forum, the Creative Africa Nexus (CANEX), the Sub-Sovereigns Conference, the Diaspora Summit, the African Industrialization Week, the African Trade and Investment Forum, and the Presidential Summit, which featured President Abdel Fattah Al Sisi of the Arab Republic of Egypt, were among the events that marked the official opening of IATF2023. Also, a number of incidental events also held as part of the trade fair. Algeria will host the IATF’s subsequent edition in 2025.