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

21 December 2018

Deals valued at $32.6 billion dollars were recorded at the inaugural Intra-African Trade Fair (IATF) which ended in Cairo on Monday, according to preliminary figures released by the African Export-Import Bank (Afreximbank).

Afreximbank, which organised 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,” reads part of the statement from Afreximbank.

The Bank said 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 preliminary report also showed that there was a total of 1,086 exhibitors at the fair, with 45 countries having country pavilions.

Some 584 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.

According to the Bank, the Virtual Trade Fair platform, which operated during the fair, attracted 700 total registrations, with the rooms being accessed more than 7,000 times and product information and market resources on the platform accessed or downloaded about 2,000 times.

About 300 booths have been built on the platform, which will remain active after the IATF.

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

Rwanda has been selected to host the IATF2020.

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The Pan African Chamber of Commerce and Industry was established in 2009 by 35 founding national business chambers to influence government policy and create a better operating environment for business.

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