The Intra-African Trade Fair is the first of its kind in Africa, consisting of a 7-day trade fair that provides a platform for sharing trade, investment and market information and enabling buyers and sellers, investors and countries to meet, discuss and conclude business deals.
From the 11th-17th December, it attracted investors, traders and many others in Cairo, Egypt. It was further agreed that Rwanda would host its second session in 2020.
Closing the IATF, the Afreximbank President, Prof Benedict Okey Oramah applauded the result of the first launch, as it attracted over 50,000 prominent dealmakers, businesses, industries, investors, countries and suppliers and where up to $30-billion-dollar business deals, contracts and investment transactions were sealed.
He said that more than 100 business deals, contracts and investment transactions were sealed.
Oramah said that the deals represent an important footstep in the cooperation of Africa.
The Afrexim bank says that the majority of the deals were in sectors of industrialization/export manufacturing ($6.2 billion); power ($6 billion); and financial services ($1.86 billion). Other key sectors included oil and gas; transport and logistics; heavy industry; mining; infrastructure; healthcare; and SME promotion.
The Rwandan Ambassador in Egypt, Sheikh Saleh Habimana said that Rwanda which will host the next edition of the IATF, was tasked to surpass the Egyptian edition.
“We have been tasked to host it with pomp and radiance, and possibly to outshine this first Edition,” Saleh Habimana said
The IATF2018 was aimed at promoting trade among African countries and at supporting the implementation of the African Continental Free Trade Agreement.
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