Afreximbank focuses on expanding trade under AfCFTA

CAIRO - 10 November 2023: African Export Import Bank (Afreximbank) focus strategically on expanding trade under the African Continental Free Trade Are (AfCFTA), Manager of Intra-African Trade Initiative at Afreximbank, Gerald Nsomba.

Nsomba added that the bank also concentrates on promoting industrialization, and transitioning from exporting raw materials to value-added products. 

Moreover, he emphasized the importance of the bank’s role in promoting trade and investment between Africa and the diaspora.

This came during a  workshop presentation on the second day of IATF2023 which is currently being held in Egypt from Nov. 9 to 15.

The IATF2023, which is the third edition of the Intra-African Trade Fair, provides a platform for businesses to access an integrated African market of over 1.3 billion people with a GDP of over $3.5 trillion created under the African Continental Free Trade Area, according to the African Union.