Online Reporter
Kudzanai Sharara in ALGIERS, Algeria
Zimbabwe’s hosting of the Intra-African Trade Fair Company (IATFCO)’s headquarters presents a strategic opportunity for the country to position itself as a regional and continental hub for the facilitation of trade and investment under the African Continental Free Trade Area (AfCFTA), experts have said.
The IATFCO is a newly established entity weaned off the Intra-African Trade Fair (IATF), an initiative of the African Export-Import Bank (Afreximbank), which bankrolled the event for the past four editions.
The IATF is intended to provide a unique platform for facilitating the exchange of trade and investment information in support of increased intra-African trade and investment, especially in the context of the AfCFTA.
The 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.
During the official opening ceremony of this year’s event, which is underway in Algiers, Algeria, Afreximbank’s outgoing president and chairman of the board of directors, Professor Benedict Oramah, revealed that the IATF is set to become an independent entity, with its new headquarters to be located in Harare, Zimbabwe.
Prof Oramah said that after almost eight years of support from Afreximbank and its partners, it was “time to institutionalise the initiative and lessen the burden on Afreximbank and its collaborating partners, the African Union Commission and the AfCFTA Secretariat.”
He went on to congratulate the Government of Zimbabwe for putting up a very strong bid and expressed hope that they will work assiduously with the Advisory Council to quickly open the IATF as an independent, sustainable organisation in Harare.
Prof Oramah called on African governments, corporations and financial institutions to support the new entity during its “early teething stage”.
To get running as an independent entity, Afreximbank’s board approved an initial capitalisation of US$28 million to assist the IATF as it transitions into a standalone organisation.
Sources say the Zimbabwean Government has already accepted the right to host the headquarters of the IATFCO and called for the “full participation of all key stakeholders,” including the ministries of Local Government and Public Works; Finance, Economic Development and Investment Promotion; Public Service, Labour and Social Welfare; and the Office of the Minister of State for Provincial Affairs and Devolution for Harare Metropolitan Province, as well as the Office of the Attorney-General.
The respective institutions are expected to make indispensable contributions, especially with respect to the development of the legal and institutional framework required to underpin the Host Country Agreement, the identification of suitable interim office premises and the master plan of the exhibition centre.
The issues that Zimbabwe would need to address for the successful hosting of IAFCO include integrating its requirements into fiscal policy statements for 2026 to 2029 and identifying land to construct 33 452 square metres of international standard exhibition space.
The Ministry of Tourism and Hospitality Industry; the Ministry of National Housing and Social Amenities; the Zimbabwe Investment and Development Agency; the Office of the President and Cabinet; the State Enterprise Restructuring Agency; the Harare Metropolitan province; the Ministry of Transport and Infrastructural Development; the Zimbabwe Tourism Authority; and the private sector are also expected to identify solutions for the hotel accommodation shortfall of approximately 11 273 rooms.
There is also a need to secure temporary office space (50 sqm) for IATFCO until the construction of the new headquarters.
Commenting on the development, ZimTrade chief executive officer Mr Allan Majuru, who was also appointed IATF 2025 ambassador, said the most critical aspect was the recognition that Zimbabwe received for hosting the IATFCO offices.
He said hosting the offices meant all decisions about promoting intra-African trade are going to be made in Zimbabwe.
“As the host, I think we are going to have an advantage by taking part in all these discussions,” he said. “Also, from a tourism perspective, this gives us an advantage of hosting most of the meetings. You know, sometimes it’s cost-effective for meetings to happen where the host is, in terms of logistics and costs for hosting other people.”
He continued: “So, for us, it’s not only about trade in terms of goods, but also trade in terms of services that are going to be needed, such as MICE (meetings, incentives, conferences and exhibitions).”
Mr Majuru said the hosting of the IATFCO offices in Zimbabwe “is not only going to promote the whole notion of intra-African trade, but also contribute to Zimbabwe being a destination for events”.
Over the years, IATF has evolved into the continent’s most significant trade and investment gathering and since its inception in 2018, the fair has brought together over 4 500 exhibitors, attracted more than 70 000 participants from across 130 countries, and facilitated trade and investment deals exceeding US$118 billion.
Prof Oramah noted that since 2018, IATF had proven to be a solid platform for launching winning ideas and initiatives, forging continental and global partnerships, unlocking critical funding and visualising unprecedented market opportunities.
“IATF is proving to be a formidable platform for the new struggle for economic independence of all Africans, regardless of colour, creed, location, gender or status. We believe that we have built a platform and supporting ecosystem where young Africans who may change the way the world reads, lives, interrelates, does business and manages their health will one day emerge.
“The proof is in what we have seen emerge from this platform since 2018.
“IATF2025 marks a significant milestone in our journey towards attaining Africa’s economic emancipation, through intra-regional trade and investment,” Prof Oramah said.
