Afreximbank has sealed trade and investment deals worth $43.7 billion at the end of the 2023 Intra African Trade Fair ( IATF 2023) held in Cairo, Egypt.

At the virtual Post IATF conference held yesterday, Afreximbank Executive Vice President, Kanayo Awani described the event as a huge success, stating that the $43.7 billion figure was higher than $43 billion projection initially made for the event.

She pointed out that a total of 62 countries were represented at the third edition of the IATF, of which 45 represented African countries while 16 were made up of non-African countries.

According to her, the just concluded trade fair attracted at least 1,939 exhibitors while 42 out of the 45 African countries represented mounted their pavillions.

While fielding questions to journalists on her numerous achievements, including the recent election into the Executive Committee (EXCOM) of FCI, Awani said the successes were possible as a result of Afreximbank unwavering support for women, in addition to working with a group of vibrant team.

On the significant 2023 IATF to the sub-Saharan Africa region in deepening access to financing, Awani pointed out that the trade fair connects buyers and sellers as the contracts being negotiated have to be financed in one form or the other.

According to her, this was made possible through Afreximbank’s efforts towards ensuring that financial institutions and non-banking financial institutions were part of the trade fair to provide the necessary funding and expand access to finance on the continent.

She added that the bank is working with the African Union and other strategic partners launched the Intra-African Trade Fair in 2018 as a key initiative to support the African Continental Free Trade Area (AfCFTA).

Recall that gor 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa.

A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA.