The African Export-Import Bank (Afreximbank) will hold business development roadshow on 11 February in Rwanda’s capital Kigali to create awareness among the private sector of how to benefit of the African Continental Free Trade Area (AfCFTA).
The free trade area provides significant opportunities to access the largely untapped markets and sectors in an integrated African market of over 1.3 billion people.
Organised in collaboration with Rwanda’s Private Sector Federation (PSF), the roadshow will explain the substantial benefits of attending the second Intra-African Trade Fair (IATF2020) which will take place in Kigali from 1 to 7 September.
According to Afreximbank, Rwandan businesses can benefit of the AfCFTA by establishing new networks of business buyers and sellers from across the continent, enabling the country to significantly expand its intra-African trade.
President of Afreximbank Benedict Oramah 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 $40bn.
The operational phase of the AfCFTA will commence on 1 July.