Grab AfCFTA opportunity now, Afreximbank tells Nigeria, others

The African Continental Free Trade Area (AfCFTA), described as the catalyst for generating massive increase in intra-African trade, is beckoning on Nigeria, and the rest of the continent’s economies to grab.

Besides, it is the shortest part to transforming domestic economies and the region and delivering a new era of prosperity throughout Africa, the African Export-Import Bank (Afreximbank) has said.

The President of the multilateral trade bank, Prof. Benedict Oramah, said Africa is now at a pivotal stage in its history and the continent’s economies must grasp the opportunities of the single African market being created by AfCFTA.

Already, the African Union, Afreximbank and the government of Rwanda in Kigali, are organising the second Intra-African Trade Fair (IATF2020), scheduled for next year.

Like the first edition, Oramah said IATF2020 would offer a platform to conclude numerous high-value intra-African trade and investment contracts by showcasing African goods, services and investment opportunities in excess of $40 billion.

He said: “The second Intra-African Trade Fair has found a fitting venue in Kigali, as, over the course of the last two decades, Rwanda’s economic and structural transformation has delivered one of Africa’s economic success stories.