“Intra-African Trade Fair 2023, a huge success”

The recently held Intra-African Trade Fair (IATF2023) exceeded targets with recorded deals worth up to US$43,8 billion.

The trade fair held in Egypt attracted 130 countries including Zimbabwe, which attracted 1,939 exhibitors and 28,282 participants who attended physically and through the IATF virtual platform.

In final tallies released in Cairo, the organisers of the continental event said that the amount represented the value of 426 deals concluded in 21 sectors covering 52 countries.

At the trade fair, which was held last month, Zimbabwe’s Exodus and Company penned a US$141 million with the trade financing institution – African Export-Import Bank (Afreximbank).

Denys Denya, executive vice president, finance, administration and banking services, signed for Afreximbank while Progress Mambo, chief executive officer, signed for Exodus and Company.

Afreximbank also signed an agreement with Central Africa Building Society (CABS), Zimbabwe’s largest building society, to provide a US$40 million line of credit to help build capacity among hundreds of small and medium enterprises (SMEs).

Signed by Denya, representing Afreximbank and CABS managing director Mehluli Mpofu, the agreement is for three years and is aimed at fostering the growth of the SME sector by supporting productive sectors, such as agriculture, manufacturing and mining.-ebusinessweekly