19 December 2018

Nigeria: Investors Seal U.S.$32.6 Billion Deals At Cairo Intra-African Trade Fair

Organisers of the maiden Intra-African Trade Fair (IATF2018) said deals valued at about $32.6 billion were successfully sealed by various investors who participated in the seven day event.

The event ended last Sunday in Cairo, Egypt.

The African Export-Import Bank (AFREXIMBANK) organised the trade fair, hosted by the government of Egypt, in collaboration with the African Union.

The bank said, in its preliminary report on the outcome of the trade fair sent to PREMIUM TIMES on Tuesday, that the amount represented the value of 100 deals concluded during the fair.

The report said the number of deals might rise as there were some bilateral agreements among exhibitors that were yet to be recorded.

The bank said majority of the deals were in industrialisation /export manufacturing sectors, where agreements on proposed projects valued at about $6.2 billion were signed during the fair.

Other agreements were in the power sector ($6 billion) and financial services sector ($1.86 billion).

The balance of the agreements on projects, worth over $18 billion, were in other key sectors, including oil and gas; transport and logistics; heavy industry; mining; infrastructure; healthcare and small and medium enterprises (SMEs) promotion.

The preliminary report also showed that about 1,086 exhibitors attended the fair, with 45 countries having country pavilions.

A total of about 584 companies were accommodated in country pavilions, while 375 were in private sector stands, with the creative industries having 36 participating exhibitors.

In addition to operating country pavilions, Egypt and Nigeria also had special country days, which allowed them to enjoy a dedicated day for special programmes to showcase the business and investment potentials and opportunities in their countries.

The IATF2018 Conference, which ran alongside the trade fair, also featured 42 sessions with 152 speakers drawn from across the world.

The Virtual Trade Fair platform, which operated during the fair, attracted about 700 total registrations, with the rooms being accessed more than 7,000 times for product information.

Market resources on the platform were accessed or downloaded about 2,000 times. About 300 booths have been built on the platform, which will remain active after the IATF.

The creative industries component of IATF2018 featured six workshops and also attracted six mural artists.

It also featured eight mini runway shows and an event called "Fashionable Loud" which was a major attraction attended by many visitors.

The IATF2018, which ran from 11 to 17 December, was aimed at promoting trade among African countries and at supporting the implementation of the African Continental Free Trade Agreement.

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