The Intra-African Trade Fair, 2021 (IATF) was launched yesterday after a hiatus due to COVID-19, it was last held in 2018 in Egypt and this year South Africa is hosting. Set to run from the 15th to the 21st of November 2021, the fair is expected to grow African business and its countries’ entrepreneurial reach.
With the South African government hosting the event in conjunction with African Export-Import Bank (Afreximbank) which is in collaboration with the African Union, the event’s theme, “Building Bridges for a Successful AfCFTA” is focussing on the newly-launched African Continental Free Trade Area (AfCFTA), the event is set to enforce the important role AfCFTA plays in enabling trade in Africa.
According to the event’s website:
“The African Export-Import Bank (Afreximbank) has identified intra-African trade as a critical factor for unlocking Africa’s economic potential. Although the share of intra-African trade as a percentage of total African trade has increased from 10% in 1995 to around 16% currently, it remains low compared to the levels in Europe (59%), Asia (51%), and North America (37%). One of the key reasons for the low level of intra-African trade is the lack of access to cross-border trade and market information.
Committed to transforming Africa, Afreximbank launched the biennial intra-African Trade Fair in 2018 as a unique platform to connect African buyers, sellers, and investors.
Alongside IATF, Afreximbank also offers a comprehensive suite of products and facilities to support intra- and extra-African trade.”
At least 30 Zimbabwean companies are showcasing their goods and services and among them is a food manufacturing company, Glytime which produces health products such as cereals, which has its products already on local shelves.
According to ZimTrade, “Companies will meet potential buyers from across Africa. We are excited that women-led & youth-led enterprises are taking a lead in export business. So much potential @iatf2021”
Involvement of local SMEs in events like this will open doors for other local entrepreneurs to invest in products that are competitive on the regional and international trade market. This will not only create employment and improve livelihoods, it will also put the country on the traders’ radar and open doors for investment.
Africa is talking business and IATF is one of the many moves in ensuring the African economy grows and grown by Africans who want to see a prosperous Africa for all.
