Emerging from a seven day global trade fair in Durban, South Africa, Afrcan Export-Import Bank, better known as Afreximbank had rubbished her Cairo maiden edition performance figure by staggering numbers in every segment, in what has been described as “an outlandish trade outing ,even within a very tight Covid 19 conditionalities.”
With a huge turnout of participants at the on-set, it was obvious that the figures will only continue to climb based on the enthusiasm that enveloped the prestigious Durban International Conference Centre arena, in spite of initial hickup occasioned by instant upsurge.
At the close of the event last night, the Managing Director of the Intra-African Trade Initiative, Mrs Kanayo Awani, whom former President Olusegun OBASANJO described in his closing speech as ” a fantastic woman…” , had recorded some instant deals worth over $36 billion while a lot was still being processed as they are being tidied up. All the other indices made an average 35% rise. But the more interesting part of her report is the fact that country participation rose by over 50%, while participation from outside Africa was horrendous. The Exhiition population quadrupled while individual deals by participants among their interested parties were very astonishing.
One outstanding observation could be the fact that IATF would have it’s hands full in the next few months looking into the next edition in Abidjan as Moneyreport investigations can reveal that almost all that attended this year would be in Abidjan plus an overflowing number of many that were out due to Covid restrictions and fears.and a whole others that were excluded by logistic issues.
Moneyreport interviewed some 120 exhibitors from various countries and trades and their commentaries are very intriguing and could be the new building blocks for the events in Abidjan in 2023.
At the glamorous closing ceremony , the Chairman of the IATF Advisory Board , President OBASANJO, noted that the Durban edition was a “credible and productive event” and congratulated all participants who witnessed the attendance by seven African seating presidents and an array of global business kingpins. He described the edition as very impactful and was impressed with the figures reeled out by Mrs Awani who he gave the credit of putting everything together.
He thanked the Chairman of the Afreximbank Board and President of the Bank, Professor Ben Oramah for “bringing Africa under one roof” as he singled out the Premier of Kwa Zulu Natal for all his efforts which he also described as “path of the movement for the economically united Africa”.
There are strong indications that by the time all the papers for the indicative deals are finally verified the event would be grossing so much to set a supersonic pace for the Abidjan edition.
