Story by Farai Gwaze
ZIMBABWE has secured the permanent hosting rights for the Intra-African Trade Fair (IATF) starting in 2029, strengthening its position as a continental trade centre.
The announcement was made alongside the establishment of a US$2 billion facility by the African Export-Import Bank (Afreximbank) to boost the country’s agricultural exports.
Afreximbank Acting Director for Trade Facilitation and the IATF, Dr Gainmore Zanamwe confirmed the successful bid during the bank’s investiture ceremony in Cairo, Egypt, on Friday. He stated Zimbabwe will host the trade fair after Nigeria, marking the event’s institutionalisation in one location and bringing long-term economic benefits to the country.
“Zimbabwe also won the bid to host the IATF entity permanently. After Nigeria, the event will be held in Zimbabwe in 2029. This is a key initiative to formalise or institutionalise IATF in one place. We are working with the Government of Zimbabwe to prepare for permanent hosting,” he said.
Additionally, Afreximbank has established a US$2 billion facility to boost Zimbabwe’s agricultural exports, targeting food security and regional trade expansion through identified key farmers and processors.
“There is an export for the Agricultural Food Security initiative that we started, working with the Ministry of Agriculture in Zimbabwe. We are now at an advanced stage where we are trying to identify key farmers who can actually produce food and other products to not only feed Zimbabwe, but to export agricultural products to other African countries that need these products. There is a USD$2 billion facility that the bank has put in place. We are now calling upon all the key players that are interested in producing, processing, and exporting food products to work with the bank under this facility,” Dr Zanamwe added.
Afreximbank supports the idea of positioning Zimbabwe as a central hub for African trade and agricultural development, leveraging the country’s strategic location and agricultural potential to drive economic growth and regional integration.
