Africa: Angola Leaves Intra-African Trade Fair With U.S.$4 Billion Business Intentions

(File photo).

The volume of business intentions carried out by Angolan business team at the Intra-African Trade Fair, in Durban South Africa, is estimated at US$4 billion, informed the coordinator of the Angola delegation to the event, Agostinho Kapaia.

Speaking at the end of the event, Agostinho Kapaia said that the fair, held from 15 to 21 November, allowed businesspersons to make an overall of around three thousand contacts of investment at the Angolan exhibition spot.

"The Intra-African Trade Fair was very fruitful. Angola's participation has come to an end and we have a positive balance as we had a registered investment intention in various sectors", said Agostinho Kapaia.

According to the coordinator, Angola´s objectives of participation - which is attraction of investments and promotion of exports - were achieved, and this is part of the Government strategy to support the private sector in its integration into the African Continental Free Trade Area (AfCFTA).

Agostinho Kapaia stated that the organizers arevery pleased with Angola's involvement and participation, considering the dynamic of national companies.

On the other hand, he highlighted the visits, to the Angola pavilion, by the AfCFTA's secretary general, Wankene Mene, by the president of Afreximbank, Benedict Oramah, and by the Democratic Republic of Congo minister of Commerce Jean-Lucien Bussa Tongba.

As for the DRC minister, the coordinator referred that Jean-Lucien expressed interest in developing a strong commercial relationship with Angola, for which reason he invited representatives from the private business sector to visit his country.

At the closing ceremony, Kapaia also highlighted the presence of the Angolan Secretary of State for Commerce, Amadeu Nunes, as well as the Secretary of State for Social Communication, Nuno Albino, who represented the ministers of the respective areas.

On the other hand, he acknowledged the support provided by the ministers of Industry and Commerce, Victor Fernandes, and of Telecommunications and Information Technologies and Social Communication, Manuel Homem.

He also highlighted the support provided by the Angolan Embassy in the Republic of South Africa to the Angolan delegation, the sponsorship of Sonangol for the participation of companies in the fair.

The next Intra-African Trade Fair will take place in Côté d'Ivoire, and according to the coordinator, the intention is to improve Angolan participation, attracting more investors and increasing the number of companies participating.

This is the II edition, which was previously scheduled to happen in Uganda, but was moved to South Africa due to Covid-19 issues.

The first edition was hosted by Egypt.

Angola attended the Intra-African Trade Fair with 30 companies, among them, Sonangol, Catoca, ZEE, CEEIA, Opaia, SGA, Arccla, Food Care, Steel Door, BFA, BAI, Kubinga, Refriango, Sino-Ord Xcentro, All Trans, JPNM, Assomel, FMEA, AAJP, and AIPEX as a public institution supporting private investment.

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