Online Reporter
Kudzanai Sharara in Algiers, Algeria
The Intra-African Trade Fair concluded in Algiers yesterday, marking the end of a week-long exhibition that delivered record-breaking achievements.
IATF brought 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.
According to a final “report card” presented by Dr Gainmore Zanamwe, the director of trade facilitation and investment promotion at the African Export and Import Bank (Afreximbank), the event surpassed every target set by its organisers.
The event, which ran from September 4-10, surpassed all its targets and has been hailed as the largest in the fair’s history.
The fair’s most notable achievement was the value of trade and investment deals signed.
The total reached a staggering US$48,3 billion, exceeding the initial target of US$44 billion. Algeria, the host nation, was a key contributor, with US$11,4 billion in signed contracts and an additional US$11, 6 billion in commitments for its companies.
Participation also soared, with 112 000 people attending the event, far surpassing the projection of 35 000. This included 60 650 physical and 51 826 virtual attendees.
The number of participating heads of state and government more than doubled from the previous edition, reaching 20, compared to just eight in 2023.
“Again, we have exceeded expectations,” Dr Zanamwe said.
The highlight, Dr Zanamwe noted, was dealmaking.
“When the Advisory Council, chaired by President Obasanjo, approved a US$44 billion target, some of us were not sure we would reach it. Today, I am pleased to confirm that we achieved US$48,3 billion,” he said.
Attendance soared far beyond projections. “We targeted 35 000 participants,” Dr Zanamwe said. “Instead, Algeria mobilised 112 000 people. This will go down in history as the best and biggest IATF ever. Our founding fathers would be proud.”
Exhibitor numbers also rose significantly to 2 148, exceeding the 2 000 target. Exhibitors came from 49 African countries, surpassing the target of 40, and 21 non-African countries, bringing the total number of participating countries to 132, including Zimbabwe.
National trade promotion and development body, ZimTrade, facilitated the participation of 25 Zimbabwean firms in the exhibition from across key sectors of the domestic economy.
“Our target was 40 African countries, but we had 49. On top of that, 132 countries participated overall, which is another record,” said Dr Zanamwe.
The fair also saw a record-breaking 958 buyers.
In a statement at the closing ceremony, Nigeria’s former president, Chief Olusegun Obasanjo, the chairman of the IATF2025 Advisory Council, praised the success of the event, stating that it “exceeded all expectations and targets we had set for ourselves.”
He also thanked Algeria for its “outstanding dedication” in hosting a successful and memorable event for all participants.
Jean-Louis Ekra, former president of Afreximbank, told the media briefing that the trade fair had proven its value as a platform for Africa’s economic growth.
“Judging from all the achievements in the scorecards, Algiers has proven that the IATF is a solid and powerful tool for African trade development,” he told delegates.
“Going forward, the first thing to do is to ensure that the US$50 billion transactions signed here go to fruition and completion. That will be the real achievement.”
Speaking at the same media briefing, AfCFTA secretary-general Wamkele Mene emphasised that the agreements signed in Algiers must translate into measurable trade growth.
“The transactions concluded here, almost US$50 billion, are very encouraging.
“We will deploy trade rules, including protocols on women, youth, and investment, to make sure we double intra-African trade by 2035.”
Also speaking at the media briefing, outgoing Afreximbank President Benedict Oramah urged African financial institutions to play a bigger role in future editions.
“It is awkward that apart from Shelter Afrique, I did not see other African development banks here. We must bring our financial institutions deliberately to support the trade being generated,” he said.
