Tag: Intra-African Trade Fair 2025 (IATF2025)

Afreximbank renews partnership with African Association of Automotive Manufacturers (AAAM) to promote industrialisation of Africa’s automotive sector

…The Africa Automotive Show held at IATF2025 brought together players in the automotive sector, including manufacturers, subcontractors and equipment manufacturers

The African Export-Import Bank (Afreximbank) has renewed its memorandum of understanding (MoU) with the African Association of Automotive Manufacturers, harmonising efforts to promote Intra-African trade and investment in the continent’s automotive sector.

The MoU was signed on the sidelines of the recently concluded Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria by Dr. Gainmore Zanamwe, the Director of Trade Facilitation and Investment Promotion at Afreximbank, and Ms. Martina Biene, President of AAAM. Its key pillars are regional automotive value chains, automotive financing, and policy and capacity building.

Speaking during the signing ceremony, Dr Zanamwe expressed Afreximbank’s commitment to support development of the automotive sector in Africa.

He added: “This MoU underscores the commitment of Afreximbank and AAAM to strengthen Africa’s industrialisation goals through strategic partnerships. By aligning financial innovation, policy support, and value chain development within the automotive sector, we are fostering a new era of intra-African trade and manufacturing. Our commitment to this initiative demonstrates how Afreximbank’s resources and expertise can transform continental aspirations into tangible economic outcomes.”

He stated that the MoU is expected to catalyse industrialisation by spurring local automotive manufacturing, strengthen regional integration, improve trade flows, create skilled jobs and reduce reliance on the import of second-hand vehicles across Africa.

“Afreximbank has been a phenomenal partner in our quest to drive growth and industrialisation of the automotive industry on the continent. We are pleased with the renewal of the MoU. Logistics, energy, skills development and financing mechanisms must keep pace with our ambitions. Afreximbank’s leadership is critical in this regard, but so too is the commitment of our governments to invest in infrastructure that connects factories to markets,” said Ms Biene, President of AAAM.

The revitalised framework aligns AAAM’s strategic expansion ambition by positioning it to take advantage of Afreximbank’s continental reach and trade-promotion mandate. It fosters coordinated efforts to map and activate regional value chains, deploy auto-specific financing solutions and strengthen national and continental automotive policy environments. It also envisages collaboration with institutions, like the African Union, the African Continental Free Trade Area (AfCFTA) Secretariat and African Organisation for Standardisation (ARSO), in order to enhance trade facilitation, capacity building, harmonised standards and mobilisation of blended financing to catalyse industrialisation and sustainable growth in Africa’s automotive sector.

“We must unite with key stakeholders to enable affordable mobility in Africa. The implementation of affordable vehicle and asset financing will unlock the potential the continent has. Despite challenges, the opportunities are immense. With coordinated action, Africa can manufacture at least between 3.5 and 5 million vehicles annually by 2035 – creating jobs for our youth, strengthening local supply chains, and ensuring that the benefits of industrialisation are shared across our continent,” Ms. Biene added.

The Africa Automotive Show held at IATF2025 brought together players in the automotive sector, including manufacturers, subcontractors and equipment manufacturers. It aimed to promote African potential in automotive manufacturing and strengthen regional supply chains. Hosted in collaboration with AAAM, the show focused on development of regional automotive supply chains within the whole of Africa.

Attended by more than 112,000 visitors from 132 countries, IATF2025, which took place from 4 to 10 September, ended on a remarkably high note with US$48.3 billion in trade and investment deals signed over the seven days of the continental exposition. It welcomed 2,148 exhibitors.

September 23, 2025
African economies urged to invest in research for industrial transformation

…While Africa accounts for less than 3% of global research output, it bears a disproportionately higher share of global challenges

African economies have been challenged to boost their investment in research to power the continent’s industrial transformation by accelerating development of homegrown innovations that reinforce autonomy, sustainability, and technological sovereignty.

Speaking during the official launch of the African Research and Innovation Hub (ARIH) on the sidelines of the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algiers, the Group Chief Economist and Managing Director for Research at the African Export-Import Bank (Afreximbank), Dr. Yemi Kale noted that while Africa accounts for less than 3% of global research output, it bears a disproportionately higher share of global challenges.

“Even more concerning, our research and development spending averages under 0.5% of GDP, far below the global average of 2.2% and far less than the over 4% invested in countries such as South Korea and Israel. However, history shows us that deliberate investment in research ecosystems has been the foundation of industrial transformation. Sustained competitiveness requires research, innovation, and the industrial capacity to transform ideas into products and services that can stand at the frontier of global markets,” Dr Kale said.

The hub is a joint initiative of Afreximbank, the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat that aims to promote and commercialise African research and innovation. It provides a platform for academics, researchers, and students to contribute their knowledge and expertise towards advancing Intra-African trade and industrialisation.

“ARIH’s mission is to transform intellectual capital into industrial competitiveness and trade-led growth. Studies indicate that if Africa merely doubles its R&D spending to 1% of GDP by 2030, we could unlock an estimated $60–70 billion annually in additional value across agriculture, digital technology, and manufacturing. This would boost productivity, reduce import dependence, and expand Africa’s share of global trade,” Dr Kale argued.

Throughout IATF2025, ARIH is running sessions bringing together participants from academia, enterprise, policymakers and investors. Besides the co-convenors, Algeria’s Ministry of Higher Education is providing technical coordination for the sessions that include roundtables and pitch sessions for innovative projects and startups. University lecturers and students, as well as scientists and researchers affiliated with National Research Institutions from Africa, and the Diaspora including the Caribbean, have the opportunity to showcase their innovative research and scientific prototypes.

Hosted by the People’s Democratic Republic of Algeria, IATF2025 is co-convened by Afreximbank, the African Union Commission and the AfCFTA Secretariat, and is projected to facilitate trade and investment deals worth over US$44 billion. IATF is a platform for businesses to showcase their goods and services to visitors and buyers while exploring opportunities and exchanging information. IATF aims to tap into opportunities from AfCFTA’s single market of over 1.4 billion people and GDP of over US$3.5 trillion. The ongoing IATF2025 is in its fourth edition with the last three editions of IATF cumulatively generating over $118 billion in trade and investment deals and attracting more than 70,000 visitors and 4,500 exhibitors.

September 11, 2025
Cross River State and Afreximbank sign Hosting Agreement for AfSNET 2026 Investment Conference

…AfSNET, launched by Afreximbank in 2021 in collaboration with the AfCFTA Secretariat, serves as a platform to strengthen the role of Sub-Sovereign entities in driving intra-African trade and development

African Export-Import Bank (Afreximbank) and the Government of Cross River State have officially signed a Hosting Agreement for the 6th African Sub-Sovereign Governments Network Investment Conference 2026, marking a significant milestone in regional cooperation and investment promotion across Africa.

The agreement was signed during the Sub-Sovereign Business Engagement session held on the margins of the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria. It was signed by the President & Chairman of the Board of Directors of Afreximbank, Prof Benedict Oramah and the Executive Governor of Cross River State, H.E Prince Bassey Edet Otu.

The agreement formalises Cross River State’s role as the official host of the 2026 AfSNET Investment Conference, scheduled to take place in Calabar, Cross River State, Nigeria. The event will convene sub-sovereign leaders, investors, development partners, and key stakeholders to explore trade and investment opportunities across Africa’s regions.

AfSNET, launched by Afreximbank in 2021 in collaboration with the AfCFTA Secretariat, serves as a platform to strengthen the role of Sub-Sovereign entities in driving intra-African trade and development. The annual conference aims to put city and state governments at the centre of intra-African trade. The 2026 edition will spotlight investment-ready projects, facilitate matchmaking between investors and local governments, and promote regional integration.

Speaking during the signing ceremony, President Oramah said: “When Afreximbank launched AfSNET in 2021, our vision was clear: to amplify the voices of Sub-Sovereign governments in shaping economic policy, unlocking investment opportunities, and accelerating trade across Africa. We firmly believe that development must be decentralised, originating where the needs are most pronounced in our cities, provinces, counties, and regions and cascading outward to influence national and continental progress.”

Speaking at the same event, Secretary General of the AfCFTA Secretariat, H.E. Wamkele Mene said: “Africa’s integration and transformation will not be achieved from the top down alone. It will be built from the ground up; in municipalities, states, and provinces where policy becomes reality in people’s lives. AfCFTA provides the framework, IATF provides the marketplace, and AfSNET is the bridge between local power and continental impact. Let us seize this moment to empower our sub-sovereigns, accelerate the AfCFTA, and build an Africa that is more connected, inclusive, and globally competitive”.

Executive Governor of Cross River State, Prince Bassey Edet Otu, expressed enthusiasm for the opportunity: “We are honoured to host AfSNET 2026 and showcase Cross River as a gateway to investment in Nigeria and West Africa. This event will catalyse economic growth, foster partnerships, and elevate our state’s profile on the continental stage.”

Preparations for AfSNET 2026 are already underway, with both parties committed to delivering a world-class event. The conference will feature plenary sessions, exhibitions, B2B meetings, and cultural showcases, offering a dynamic environment for dialogue and deal-making.

This year’s Sub-Sovereign Business Engagement in Algiers marks its fifth edition since 2021, when it was founded. It was attended by governors, mayors, and leaders of sub-sovereign governments from across Africa and the Caribbean. Past editions of the conference were held in Durban, South Africa (2021), Abuja, Nigeria (2022), Cairo, Egypt (2023), and Kisumu, Kenya (2024). The annual event brings together sub-national leaders from across the continent to exchange ideas on how to promote development in African regions.

Some of the projects that have materialised from the AfSNET initiative include funding for industrial parks and Special Economic Zones in Ogun State, Nigeria, supporting deep seaport development in Cross River State, Nigeria, and helping prepare major projects like the Nyanza Light Metals initiative in KwaZulu-Natal in South Africa for bankability, and supporting feasibility and bankability studies for Africa’s first blockchain-enabled, continuous manufacturing facility for essential medicines in Kisumu, Kenya.

September 11, 2025
Karavan Press bags Creative Africa Nexus (CANEX) Book Factory Prize for Publishing in Africa 2025

…Karavan Press was recognised for its book In Silence My Heart Speaks by Thobeka Yose, winning the $20,000 top prize

Karavan Press, an independent publisher based in Cape Town, South Africa is the winner of the 2025 edition of the CANEX Book Factory Prize for Publishing in Africa that celebrates and recognises outstanding contributions of African publishers and authors to the literary world.

Karavan Press was recognised for its book In Silence My Heart Speaks by Thobeka Yose, winning the $20,000 top prize. The Prize was presented by Algeria’s Minister of Culture and Arts Azzedine Mihoubi during an award ceremony held during the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algiers. Finalists received $2,000 each.

The Prize is a joint initiative of the Creative Africa Nexus (CANEX), an intervention by African Export–Import Bank (Afreximbank) in partnership with Narrative Landscape Press Limited. It aims to showcase the literary and publishing value chain in Africa and developing literary talent across the continent and the Diaspora.

“Through the CANEX Book Factory Prize for Publishing in Africa, we continue to strengthen Africa’s creative economy by elevating publishers and amplifying African narratives to global audiences. Besides the Prize, we deliver a Pan-African writing workshop, and e-newsletter highlighting African literature, to spotlight and elevate the African book value chain,” said Afreximbank’s Director for Intra African Trade and Export Development (Creatives and Diaspora), Temwa Gondwe.

Now in its second year, the Prize attracted over 80 submissions from across the continent, reflecting the diversity and vitality of African storytelling. Publishers submitted trade books published for a general audience and widely available through libraries and bookstores. The entries spanned fiction, non-fiction, and poetry, in hardcover and paperback, with an emphasis on works printed and published on the continent and written in indigenous languages. Entries could be in one or more of the official languages of the African Union: Arabic, English, French, Portuguese, Spanish, Swahili, and any other African language. Submissions were judged on the quality of writing, editing and production.

The jury comprised Dr. Boukenna Abdelaziz, Professor of History at Algiers University; Lavaille Lavette, President of JVL Media; and Prof. Egara Kabaji, Professor of Literary Communication at Masinde Muliro University of Science and Technology. The jury lauded the outstanding quality of writing, editing, and production.

The Prize is one of the activities under the CANEX Book Factory, an annual programme of events under Afreximbank’s CANEX initiative culminating in the awards ceremony. Last year, Cassava Republic Press (Nigeria) won the top prize during the inaugural edition of the CANEX Book Factory Prize for Publishing in Africa for the book Female Fear Factory: Unveiling Patriarchy’s Culture of Violence by Pumla Dineo Gqola.

CANEX at IATF is billed as the largest gathering of creatives from Africa and the Diaspora across value chains of diverse creative and cultural industries from film, music, and fashion to culinary arts, sports, and visual arts amongst others. The weeklong summit has convened continental and global players to showcase and exhibit their goods and services, and to explore business and investment opportunities within the rapidly expanding creative economy. It is being held as part of IATF2025, hosted by the People’s Democratic Republic of Algeria and co-convened by Afreximbank, the African Union Commission and the African Continental Free Trade Area (AfCFTA) Secretariat. The weeklong event is projected to facilitate trade and investment deals worth over US$44 billion.

IATF is a platform for businesses to showcase their goods and services to visitors and buyers while exploring opportunities and exchanging information. IATF aims to tap into opportunities from AfCFTA’s single market of over 1.4 billion people and GDP of over US$3.5 trillion. The ongoing IATF2025 is its fourth edition with the last three editions of IATF cumulatively generating over $118 billion in trade and investment deals and attracting more than 70,000 visitors and 4,500 exhibitors

September 11, 2025