Afreximbank announces inking deals worth $27B during Intra-African Trade Fair

CAIRO - 16 December 2018: The African Export–Import Bank (Afreximbank) announced Saturday that it inked trade deals worth $27 billion on the sidelines of Intra-African Trade Fair, that runs till Monday.

The figure exceeds the bank’s target of $25 billion, it said, noting that the signed agreements cover a number of development projects in Tanzania, Zimbabwe, Borkina Faso, Nigeria and Côte d’Ivoire.

In a press statement on Saturday, the Egyptian Trade and Industry Ministry said that memorandums of understandings had been signed to promote ventures of green economy and renewable energy across Africa.

Meanwhile, Chief Executive Officer of the Export Development Authority (EDA) Sherine el Shorbagi noted that the fair included holding meetings with representatives of non-African countries to sign trade deals with them.

She pointed out that former footballer Didier Drogba visited the exhibition and talked about his experience and how he became a businessman.

The Intra-Africa Trade Fair 2018 (IATF2018) is the first of its kind seven-day trade show that takes place at Egypt International Exhibition Centre, Cario, Egypt from the 11th to the 17th of December 2018. The Fair is promoted by the African Export-Import Bank and organized in collaboration with the African Union.

It provides a platform for sharing trade, investment and market information and enabling buyers and sellers, investors and countries to meet, discuss and conclude business deals.