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IATF2023 exceeds targets with $43.8bn recorded deals

African Export-Import Bank (Afreximbank) has said its third Intra-African Trade Fair (IATF2023) held in Cairo, Egypt in November, witnessed the conclusion of business deals and transactions valued at $43.8 billion.

In the final tallies released in Cairo, the organisers of the continental event said the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries.

At a press conference to announce the results, Executive Vice President (Intra-African Trade Bank) at Afreximbank, Mrs Kanayo Awani, also announced that 130 countries participated in the trade fair, which attracted 1,939 exhibitors and 28,282 participants who attended physically and through the IATF virtual platform.

One of the notable transactions included the Export Agriculture for Food Security Framework executed by several African countries (as Origin Countries) and ARISE Integrated Industrial Platforms, Arise IIP (as Anchor Investor).

To this, Afreximbank committed $2 billion to boost production, processing, and intra-African trade in agricultural products and to provide African farmers and agribusinesses with opportunities to access larger markets across the continent.

Together, we have explored new possibilities and opened new doors for a brighter future for our continent.

Mrs Awani also said that the IATF had successfully established itself as the premier trade and investment event in Africa, with the unique capacity to increase intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Area (AfCFTA) Agreement.

“Building on the successes of IATF2018 and IATF2021, I am proud to say that the buzz and energy generated by IATF2023 will be felt across Africa and beyond for many years to come. Together, we have explored new possibilities and opened new doors for a brighter future for our continent,” she added.

The next edition of the IATF will be hosted in 2025 by Algeria.

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