IATF 2023 achieves $43 billion in trade and investment deals

IATF 2023 achieves $43 billion in trade and investment deals
IATF 2023 achieves $43 billion in trade and investment deals

The African Export-Import Bank (Afreximbank) revealed that the recently concluded Intra-African Trade Fair (IATF2023) in Egypt saw the sealing of trade and investment deals valued at $43.7 billion.

Kanayo Awani, Afreximbank’s executive vice-president of Intra-African Trade Bank, announced this achievement during a post-event virtual news conference held in Cairo, Egypt.

Awani highlighted the success of the event, surpassing the projected figure of $43 billion. The IATF 2023 attracted 1,939 exhibitors, representing 45 African countries.

Of these, 42 countries had pavilions, marking a significant achievement.

The trade conference also featured representation from 16 non-African countries, bringing the total number of participating countries to 61.

The total attendance, both in-person and virtual, reached 28,282 participants. The number of exhibitors exceeded the initial announcement, reaching 1,939, surpassing the targeted figure of 1,600.

Awani emphasized the success of the IATF event as a platform connecting buyers and sellers.

She noted that the bank ensured the presence of financial institutions and non-banking financial institutions to facilitate necessary financing and expand access to finance across the continent.

The vice-president underscored the broader significance of the IATF event, stating that it not only fosters intra-African trade growth but also serves as a means “for banks to grow access to finance.”

The success of this year’s event was measured against various parameters, and Awani expressed satisfaction with the positive outcomes achieved.”