Online Reporter
Kudzanai Sharara in ALGIERS, Algeria
THE Intra-African Trade Fair is set to become an independent entity, with its new headquarters to be established in Harare, a major milestone that positions Zimbabwe as a hub for continental and global trade gatherings.
The announcement was made by Professor Benedict Oramah, outgoing president and chairman of the board of directors of the African Export-Import Bank (Afreximbank), in his opening remarks at the 2025 IATF, currently underway here.
Organised by Afreximbank, the African Union Commission and the African Continental Free Trade Area (AfCFTA) Secretariat, the IATF serves as a premier platform for promoting trade and investment across Africa.
The fair facilitates information exchange, connects businesses, showcases goods and services and fosters opportunities for investment.
It also allows participants to discuss challenges hindering intra-African trade and explore practical solutions.
Beyond African exhibitors and investors, the fair welcomes global participants seeking to expand into Africa and support the continent’s industrialisation and export growth.
Prof Oramah said after almost eight years of support from Afreximbank and its partners, it was time to institutionalise the IATF and ease the burden on the bank, the African Union Commission, and the AfCFTA Secretariat.
He confirmed that the IATF Advisory Council had approved the move and thanked all countries that submitted bids to host the new entity.
“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,” Prof Oramah said.
He also called on African governments, corporations and financial institutions to support the new entity during its “early teething stage”.
The new headquarters is expected to be housed at the Harare Afreximbank Africa Trade Centre (HAATC), which is under construction.
The centre will feature a hotel, office block, conference and exhibition facilities built around a sheltered public space.
In 2021, Zimbabwe granted Afreximbank land for the project, which is also designed to accommodate regional, continental and global financial and development institutions.
To support the transition, Afreximbank’s board has approved an initial capitalisation of US$28 million for the new IATF entity.
Meanwhile, Prof Oramah addressed the trade fair for the final time as Afreximbank president.
Speaking on the theme, “From Trade Fairs to Economic Empowerment: An Evolutionary Story”, he reflected on the growth of the IATF, describing it as Africa’s most significant trade and investment gathering.
Prof Oramah noted that the first three editions of the fair generated over US$120 billion in trade and investment deals.
The current edition, he added, has drawn record participation, with 48 African countries exhibiting — the highest number since the inaugural event in 2018.
Prof Oramah concluded by thanking his partners, including the AUC and the AfCFTA Secretariat, for their collaboration, particularly during the challenging first edition of the fair.
The occasion also marked the announcement of his successor, George Elombi, a long-serving Afreximbank executive who will assume leadership of the bank when Prof Oramah steps down in September.
