Intra-African Trade Fair records $32.6 billion in concluded deals

The inaugural Intra-African Trade Fair (IATF), held recently in Cairo, was marked by the signing of deals valued at $32.6 billion, according to preliminary figures released by the African Export-Import Bank (Afreximbank).

Afreximbank, which organized the trade fair in collaboration with the African Union, said that the amount represented the value of 100 deals concluded during the fair. That number might rise as it did not include some bilateral deals among exhibitors, which had not been recorded.

The Bank said the majority of the deals were in the 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 preliminary report also showed that 1,086 exhibitors participated in the fair, with 45 countries having country pavilions. Five hundred and eighty-four companies were accommodated in country pavilions while 375 were in private sector stands. The creative industries had 36 participating exhibitors.

The IATF2018 Conference, which ran alongside the trade fair, featured 42 sessions with 152 speakers.

The IATF2018, which ran from 11 to 17 December, was aimed at promoting trade among African countries and at supporting the implementation of the African Continental Free Trade Agreement.

About Geraldine Boechat 2763 Articles
Senior Editor for Medafrica Times and former journalist for Swiss National Television. former NGO team leader in Burundi and Somalia