…Says AfCFTA key to unlocking Africa’s trade potential
By Emma Ujah, Abuja Bureau Chief
ABUJA — The African Export-Import Bank, Afreximbank, is targeting more than $50 billion in trade and investment deals at the 2027 Intra-African Trade Fair, IATF, scheduled to hold in Lagos.
The bank said the target followed the over $167 billion in trade and investment deals recorded across the first four editions of the fair.
Executive Vice-President, Intra-African Trade and Export Development at Afreximbank, Mrs Kanayo Awani, disclosed this yesterday while highlighting the opportunities the 2027 edition would present for Nigeria and other African countries under the African Continental Free Trade Area, AfCFTA.
Awani said inadequate market information and limited access to business opportunities remained major constraints to intra-African trade, adding that IATF had emerged as a platform for addressing the challenges.
She said the 2027 edition was expected to attract more than 100,000 visitors and 2,500 exhibitors, making it the largest edition of the fair.
According to her, the fair would be held under the theme, “Global Africa, Smart Trade: From Market Access to Market Power.”
Awani said the first four editions of IATF had attracted more than 180,000 participants and 6,600 exhibitors from 132 countries, generating over $167 billion in trade and investment deals.
She said the figures demonstrated the growing appetite for intra-African commerce, but noted that businesses still faced challenges in accessing markets, finance and reliable information.
“The real constraint is not demand but access—the need for structured and efficient pathways that enable businesses to identify opportunities, connect with the right partners and conclude transactions at scale,” she said.
Awani said increasing trade between Nigeria and other African countries should remain a key economic priority, arguing that stronger intra-African commerce would accelerate regional economic growth.
“There is significant opportunity to accelerate intra-African trade to unlock investment, drive industrialisation, particularly through value addition and processing of our abundant natural resources,” she said.
According to the latest Afreximbank report, intra-African trade increased by 5.4 per cent in 2024 to $206.6 billion, with continued implementation of the AfCFTA expected to support further growth.
Awani urged Nigeria and other African countries to intensify efforts to address gaps in trade, investment and market intelligence that limit the expansion of businesses across the continent.
She identified inadequate information on market opportunities, unclear regulatory frameworks and limited access to trade finance as some of the challenges affecting cross-border expansion.
Awani described IATF as a major platform for promoting trade, investment and economic integration across Africa.
She said the 2025 edition of the fair, held in Algiers, generated $50 billion in trade and investment deals, adding that it demonstrated the growing momentum of intra-African trade.
According to her, the fair had continued to expand market access for African products and services, attract investment and facilitate business partnerships across the continent.
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