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Afreximbank Reports $43.7 Billion in deals at IATF 2023.
Afreximbank reports $43.7 billion in deals at IATF 2023.
Afreximbank has reported that trade and investment deals worth approximately $43.7 billion were finalized at the recently concluded Intra-African Trade Fair (IATF2023) in Egypt.
Kanayo Awani, Executive Vice President of the Intra-African Trade Bank, made the announcement on Tuesday at the Post-Event Virtual News Conference in Cairo, Egypt.
Awani stated that the $43.7 billion worth of trade and investment deals sealed in the concluded IATF 2023 exceeded the projected figure of $43 billion.
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Speaking further, the Afreximbank Executive revealed that the IATF 2023 attracted no fewer than 1,939 exhibitors from 45 African countries and 16 non-African countries.
Awani said 42 out of the 45 countries represented at the event had pavilions, which she noted as remarkable.
“We did promise to come back and give you conclusive key indicators after doing the necessary audits.
“In terms of participants of attendance, both in person and virtually, we ended up with 28,282.
“In terms of the number of exhibitors, I think we had announced 1,615 at the close of the trade fair, but following our audit, it was 1,939. We had actually targeted 1,600,” Awani stated.Awani described the IATF2023 as a huge platform to access finance, saying, “We were aware that the contracts that were being negotiated had to be financed in one form or another.”
“As Afreximbank, we ensured that financial institutions and non-banking financial institutions were part of the trade fair to provide the necessary financing and expand access to finance on the continent.
”The IATF is not just a platform to grow intra-African trade but a platform for banks to gain access to finance,” she added.
