IATF2023 exceeds expectations, securing deals worth an impressive US$43.8 billion.

The African Export-Import Bank (Afreximbank) has reported that the third Intra-African Trade Fair (IATF2023), held in Cairo from November 9 to 15, has yielded a remarkable US$43.8 billion in business deals and transactions. The organizers disclosed that these deals spanned 21 sectors and involved 52 countries, totaling 426 agreements.

During a press conference in Cairo, Mrs. Kanayo Awani,

the Executive Vice President (Intra-African Trade Bank) at Afreximbank, shared further details about the successful event. The trade fair attracted participation from 130 countries, featuring 1,939 exhibitors and drawing 28,282 participants who attended both physically and virtually through the IATF platform.

A notable transaction highlighted was the Export Agriculture for Food Security Framework, a collaboration between several African countries (as Origin Countries) and ARISE Integrated Industrial Platforms, Arise IIP (as Anchor Investor). Afreximbank committed US$2 billion to support the initiative, aimed at enhancing production, processing, and intra-African trade in agricultural products, providing African farmers and agribusinesses access to broader markets across the continent.

Mrs. Awani emphasized that IATF has solidified its position as the premier trade and investment event in Africa, contributing significantly to boosting intra-African trade and investment, particularly in the context of implementing the African Continental Free Trade Area (AfCFTA) Agreement. She expressed pride in the event’s success, building on the achievements of IATF2018 and IATF2021, and anticipates that the impact of IATF2023 will resonate across Africa and beyond for years to come.

IATF2023, which commenced on November 9, featured various events, including an official opening ceremony, a Presidential Summit addressed by President Abdel Fattah Al Sisi of Egypt, a Trade and Investment Forum, the Creative Africa Nexus (CANEX), an African Auto Forum, AU Youth Entrepreneurship Programme, a Sub-Sovereigns Conference, a Diaspora Summit, an African Industrialization Week, and an African Tourism Sustainability and Investment Forum. Algeria is slated to host the next edition of the IATF in 2025.