Zimbabwe: Harare to host Intra-African Trade Fair head office

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Zimbabwe will host the permanent headquarters of the Intra-African Trade Fair (IATF), marking a major milestone for the continental marketplace that has already facilitated more than $120 billion in trade and investment deals since its launch in 2018.

This was confirmed by former Nigeria president Olusegun Obasanjo, who chairs the IATF Advisory Council, at the 4th IATF in Algiers, Algeria.“The Advisory Council has approved that Harare, Zimbabwe, be the new headquarters of an independent IATF entity. I thank all the countries that bid to host for their efforts and for the spirit of sportsmanship displayed throughout the entire process,” Mr Obasanjo told journalists at the event.

For the Southern African country, hosting the IATF headquarters is expected to boost its profile as a regional trade hub and reinforce its role in advancing intra-African commerce.

The IATF was established by the African Export-Import Bank (Afreximbank), the African Union Commission (AUC), and the African Continental Free Trade Area (AfCFTA) Secretariat to accelerate trade integration across Africa.

Conceived as a multi-dimensional marketplace, the fair brings together governments, businesses and investors to promote goods, attract financing and unlock new markets.

Each edition runs for seven days and features exhibitions, business-to-business meetings, investment forums and policy dialogues. The fair has grown rapidly over the past seven years, cementing its reputation as one of Africa’s largest trade and investment gathering.

The inaugural edition in Cairo, Egypt, drew 1,000 exhibitors and generated $32.6 billion in deals, largely in industrialisation, export manufacturing, power and financial services. The next edition was held in Durban in 2021 with over 1,500 exhibitors participating and $42.1 billion in transactions concluded.

The just-concluded edition in Algiers had more than 2,500 exhibitors from 48 African nations, with organizers projecting $44 billion in agreements once all deals are finalised.

With IATF’s exponential growth, the IATF Advisory Council has resolved to transition the fair into a standalone entity independent of Afreximbank.

Outgoing Afreximbank president Benedict Oramah emphasised that the decision was both strategic and necessary for sustainability.