Zimbabwe firms eye Intra-African Trade Fair to grow exports

ZIMBABWEAN firms are targeting to forge strong linkages with several potential partners across the continent at the upcoming Intra-African Trade Fair (IATF2023) to be held in Egypt in November as the country seeks to grow its export base and increase revenue inflows, ZimTrade has said.
IATF2023 is forecast to attract over 1 600 exhibitors, more than 35 000 conference delegates and trade visitors from across Africa and beyond, and result in US$43 billion of trade and investment deals being concluded.

At the first trade fair in 2018, which was held in Cairo, Egypt signed the largest share of deals out of the US$32 billion worth of trade and investment deals closed at the Trade Fair.

To tap into the lucrative market, 30 private sector companies drawn from various sectors will gather in Bulawayo on Friday ahead of IATF 2023 to be held from 9th to 15th of November 2023 in Cairo, for an Intra-Africa Trade Fair high-level Business Roadshow to discuss and share ideas on how Zimbabwe can benefit from the opportunities presented by the continent-wide trade fair.

Representatives from processed foods, horticulture, agriculture inputs and implements, construction and engineering, leather and leather products, and services sectors are expected to attend, ZimTrade said.

In view of the vast opportunities presented by the African Continental Free Trade Area, IATF creates a unique platform for Zimbabwean businesses to engage with leading distributors, investors, and visitors from leading nations on the continent.

ZimTrade Communications Manager Mr Danai Majaha told Business Chronicle that the IATF Zimbabwe Roadshow will bring together the private and public sector, as well as experts, and other key stakeholders such as Afreximbank.

The roadshow will provide the Zimbabwean business community with the relevant information on the Intra Africa Trade Fair, and its relevance in the agenda of integrating African countries into a single unified market.

The trade promotion body said about 30 local firms will participate in IATF 2023 including youth-led and women-led businesses, and small businesses.

“We are targeting 30 private sector companies drawn from sectors such as processed foods, horticulture, agric inputs and implements, construction and engineering, leather and leather products, and services sectors.

“In line with our ongoing thrust of inculcating an export culture among previously marginalised groups, we have facilitated for youth-led and women-led businesses, and small businesses to take part in the trade fair.

“This structure of participating companies will complement other activities that have been put into place to ensure Zimbabwe’s exporters will take full advantage of the event,” said ZimTrade.

Outlining the importance of Zimbabwe’s participation at IATF 2023, Mr Majaha said the country will be riding on successful campaigns during the same programme held in 2021 in South Africa, and 2018 in Egypt.

“The trade fair remains an important programme to create strong linkages between Zimbabwean companies, and potential partners across the continent. Considering the opportunities presented by the African Continental Free Trade Area, IATF creates a unique platform for Zimbabwean businesses to engage with leading distributors, investors, and visitors from leading nations on the continent,” he said.

ZimTrade is seeking to grow exports from US$7 billion this year to US$14 billion by 2030 as espoused in the National Development Strategy 1 (NDS 1).

To further grow exports, Zimbabwe targets one of the world’s largest free trade areas, AfCFTA that provides a great opportunity for businesses to capitalise on the continent’s growing sectors.

-chronicle