• Tuesday, February 27, 2024
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Afreximbank announces $43.8bn business deals in IATF2023

FG, Afrexim sign $1bn partnership to unlock Nigeria’s healthcare system

African Export-Import Bank (Afreximbank) has announced that the third Intra-African Trade Fair (IATF2023) held recently in Cairo 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 that the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries.

Kanayo Awani, executive vice president, Intra-African Trade Bank at Afreximbank, while announcing the results at a press conference, 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.

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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, (as Anchor Investor) to which 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.

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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 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 said.

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