About $43 billion deals are to be sealed at the Intra African Trade Fair (IATF) 2023 holding in the Egyptian capital of Cairo. President and Chairman of the Board of African Export Import Bank (Afreximbank), President Benedict Oramah, stated this while making his opening remarks at the official opening ceremony/presidential forum at the fair. This amount represents a marked improvement on the deals signed in the first and second editions of the fair held in 2018 and 2021. According to Oramah, over $75 billion in large, medium-sized, and small trade and investment deals were closed during the fairs held in 2018 and 2021. The deals, he said, covered diverse sectors, from infrastructure, healthcare, and financial services to the creative and cultural industries.
Oramah also stated that at least one thousand six hundred (1,600) businesses are to exhibit at the fair, while fifteen thousand buyers and participants would grace the fair. “Besides numbers, we expect a strengthening of the bond of cross-country partnerships that will elevate and deepen the potency of our socio-cultural and political connections”, he stated.
“I would like to remind us all that all hands are on deck to make the African Continental Free Trade Agreement (AfCFTA) work for all, so that deals done at this fair and after can be conducted seamlessly”, Oramah said, pointing out that working with the African Union Commission and the AfCFTA Secretariat, Afreximbank has supported the delivery of critical AfCFTA-enabling instruments.
