Zambia Secures Substantial Trade and Investment Opportunities at IATF 2023
The Zambia Development Agency (ZDA) has announced promising outcomes from Zambia’s participation at the Intra African Trade Fair (IATF) 2023 held in Cairo, Egypt, with export leads totaling US$58.9 million and investment leads amounting to US$3.5 million.
The ZDA significantly increased Zambia’s presence at the IATF, escalating from five companies in 2018 to an impressive 25 companies in 2023.
Exhibitors from Zambia attracted considerable interest in their products from a diverse range of African countries, including Kenya, Ghana, Egypt, Botswana, Uganda, Malawi, Senegal, Zimbabwe, Togo, Rwanda, South Africa, and even non-African countries such as the USA and Russia.
The highlighted products of interest encompassed processed and refined foods, gemstones, handcrafts, technological innovations, and energy solutions.
Among the sectors that garnered attention were agriculture, agro-processing, automotive, clothing, infrastructure, consumer goods, creative industries, education, energy and power, engineering, finance, health and pharmaceuticals, ICT, innovation, manufacturing, mining, and tourism.
Albert Halwampa, the Director General of ZDA, stressed the importance of intra-African trade and investment for job creation and wealth retention on the continent.
He emphasized the belief that increased collaboration within Africa would lead to more jobs, value addition, and support for industrialization.
The main objective of Zambia’s participation in the IATF 2023 was to establish a foothold in the continental market and showcase the nation’s products and services to the rest of Africa and the world.
Mr. Halwampa commended the IATF for providing a platform that facilitates increased exports and investments among African countries.
Among the notable investment leads, ZDA will be following up on a Facility Agreement and Interstate Guarantee worth $10 million signed by Innovate General Insurance and Intra-Africa Trade Bank (IATB).
This agreement explores collaboration possibilities and how Zambian exporters can leverage the facility.
The IATF is a biennial event organized by the Africa Export and Import Bank (Afreximbank), the African Union Commission (AUC), and the Africa Continental Free Trade Area Secretariat.
The 2023 edition, hosted by the Government of the Arab Republic of Egypt in Cairo, attracted over 35,000 visitors and hosted more than 1,600 exhibitors, providing an exceptional opportunity for Zambia to showcase its products and services.
The Ministry of Commerce, Trade and Industry (MCTI) and the ZDA led a diverse team of over 25 private sector companies, with additional support from the GIZ, which sponsored 10 local SMEs.
These SMEs were selected through a rigorous process in collaboration with officials from the Ministry of Small and Medium Enterprise Development and the Ministry of Commerce, Trade and Industry.
