IATF to become independent,

Harare named headquarters Kudzanai Sharara, in Algiers, Algeria

The Intra-African Trade Fair (IATF) is set to become an independent entity, with its new headquarters to be located in Harare, Zimbabwe.

The announcement was made by Professor Benedict Oramah, the outgoing President and chairman of the board of directors of the African Export-Import Bank (Afreximbank), while giving his remarks at the opening ceremony of the 2025 IATF underway here.

Organised by Afreximbank, the African Union Commission (AUC) and African Continental Free Trade Area (AfCFTA) Secretariat, IATF is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Agreement (AfCFTA).

IATF brings together continental and global players to showcase and exhibit their goods and services and to explore business and investment opportunities on the continent.

It also provides a platform to share trade, investment and market information with stakeholders and allows participants to discuss and identify solutions to the challenges confronting intra-African trade and investment.
In addition to African participants, the trade fair is also open to businesses and investors from non-African countries interested in doing business in Africa and in supporting the continent’s transformation through industrialisation and export development.

After almost eight years of support from Afreximbank and its partners, Professor Oramah stated it was “time to institutionalise the initiative and lessen the burden on Afreximbank and its collaborating partners, the AUC and AfCFTA Secretariat.”

He confirmed that the IATF Advisory Council had approved the move, thanking all bidding countries for their effort and adherence to the spirit of sportsmanship.

“I congratulate the Government of Zimbabwe for putting up a very strong bid and hope that they will work assiduously with the Advisory Council to quickly open the IATF as an independent, sustainable organisation in Harare,” Professor Oramah said. He also called on African governments, corporations, and financial institutions to support the new entity during its “early teething stage.”

The new entity is likely to be based at the Harare Afreximbank Africa Trade Centre (HAATC), which is currently under construction.

The HAATC is an agglomeration of buildings, consisting of a hotel, office block and conference and exhibition centre, all clustered around a sheltered public space.

In 2021, Afreximbank was granted land in Harare by the Zimbabwean Government to build a landmark centre for facilitating intra-African trade.

The centre is also set to accommodate other regional, continental, and global financial and development institutions, and most likely the IATF entity.

Afreximbank’s board has also approved an initial capitalisation of US$28 million to assist the IATF as it transitions into a stand alone organisation.

Meanwhile, President Orama addressed IATF for the last time as President of Afreximbank.
Speaking on the theme “From Trade Fairs to Economic Empowerment: An Evolutionary Story,” his remarks marked the end of an era, celebrating a legacy of transformative continental trade initiatives.

Professor Oramah highlighted the remarkable growth and impact of the IATF, which he described as having evolved into the continent’s most significant trade and investment gathering.

He revealed that the first three editions of the fair had generated over US$120 billion in combined trade and investment deals. He also noted the record participation in the current fair, with forty-eight African countries exhibiting, the highest number since the inaugural event in 2018.

Professor Oramah concluded by thanking all his colleagues and partners, including AUC and the AfCFTA Secretariat, for their collaboration, particularly for the challenging first edition.

The occasion also marked the official announcement of his successor, George Elombi, a long-serving Afreximbank insider, who will take the helm of the continental trade bank when Professor Oramah steps down in September.