Afreximbank, PSF Will Showcase Opportunities from IATF2020 Participation
Kigali, 06 Feb. 2020 – The African Export-Import Bank (Afreximbank) has announced a roadshow in Kigali to show the Rwandan private sector how it can become a primary beneficiary of the African Continental Free Trade Area (AfCFTA) which will provide significant opportunities to access the largely untapped markets and sectors in an integrated African market of over 1.2 billion people.
Organised in collaboration with Rwanda’s Private Sector Federation (PSF) on 11 February 2020, the roadshow will seek to raise the awareness of the Rwandan private sector about the substantial benefits of attending the second Intra-African Trade Fair (IATF2020) which will take place in Kigali from 1 to 7 September 2020.
According to Afreximbank, Rwandan businesses can take advantage of the AfCFTA by establishing new networks of business buyers and sellers from across the African continent, enabling the country to significantly expand its intra-African trade.
Prof. Benedict Oramah, President of Afreximbank, said: “Rwanda’s economic transformation is undoubtedly one of Africa’s success stories. Rwandan businesses can further capitalise on this achievement by positioning themselves to take full advantage of the AfCFTA. Its removal of intra-African trade tariffs, progressive dismantling of non-tariff barriers and protectionism, will create a genuine single continental market. By attending IATF2020, they will gain an unrivalled opportunity to showcase their goods and services to buyers from across the African continent, whilst establishing new trade and investment links with a wide network of private and public sector players from more than 55 different countries.”
IATF2020 is expected to be Africa’s main trade event of 2020 and is aimed at providing a marketplace for buyers and sellers of products and services from Africa and beyond to meet and explore business opportunities. It will offer a platform for Business-to-Business and Business-to-Government exchanges, as well as business networking and development opportunities leading to the expected conclusion of trade and investment deals worth $40 billion.
The operational phase of the AfCFTA will commence on 1 July 2020.
Media Contact: Obi Emekekwue (email@example.com; Tel. +202-2456-4238)
About Afreximbank: The African Export-Import Bank (Afreximbank) is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved more than $67 billion in credit facilities for African businesses, including $7.2 billion in 2018. Afreximbank had total assets of $13.4 billion as at 31 December 2018 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB– (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com
About Private Sector Federation of Rwanda: The PSF Rwanda is a professional organisation dedicated to promoting and representing the interests of the private sector in Rwanda.
About the Intra-African Trade Fair (IATF2020): The second edition of the biennial Intra-African Trade Fair (IATF) is being held in Kigali, Rwanda from 1st to 7th September 2020. It provides a platform for entry into a single market of over 1.2 billion people joined together by the African Continental Free Trade Area, serving as a marketplace bringing together continental and global buyers and sellers and showcasing goods and services. The IATF enables all stakeholders to share trade, investment and market information as well as trade finance and trade facilitation solutions designed to support intra-African trade and African economic integration. In addition to establishing a business-to-business and a business-to-government exchange platform for business deals and advisory services, the IATF also operates a Virtual Trade Fair on an interactive online platform accessible to all. The IATF Conference runs alongside the event and features high-profile influential speakers and panellists addressing topical issues relating to trade finance, payments, trade facilitation, trade-enabling infrastructure, harmonisation of trade standards, industrialization, regional value chains and investment. For more information, visit: www.intrafricantradefair.com