Kenyan firms urged to join Algeria Trade Fair

Dr Gainmore Zanamwe, Director of Trade Facilitation and Investment Promotion at African Export Import Bank - Afreximbank, delivering a the keynote address at the IATF2025 Kenyan Roadshow. [File, Standard] Kenyan businesses have been urged to participate in the upcoming Intra-African Trade Fair (IATF 2025) in Algeria. While making the clarion call, African Export-Import Bank (Afreximbank) said the trade fair is a critical avenue for the Kenyan firms to unlock billions of dollars in fresh trade and investment across the continent. Dr Gainmore Zanamwe, Afreximbank's Director of Trade Facilitation and Investment Promotion, emphasised this push during a roadshow in Nairobi, designed to galvanise Kenyan corporate engagement. He highlighted Afreximbank's central role in accelerating intra-African trade and positioning key economies like Kenya to capitalise on the African Continental Free Trade Area (AfCFTA). "The opportunities under the AfCFTA are enormous, but the question is, what is the private sector doing to utilise them?" Dr Zanamwe stated, directly challenging the prevailing narrative that infrastructure alone represents Africa's primary trade barrier. He argued that unlocking the continent's full potential hinges equally on accurate market information, robust digital tools, and enhanced intra-African connectivity. Afreximbank said it is rolling out a suite of practical, high-impact solutions to address these very challenges. Dr Zanamwe outlined initiatives such as plans for a pharmaceutical plant in Kisumu, aimed at reducing import dependence with support from President Ruto's administration. He also cited strategic targeting of agriculture and automotive value chains to boost self-reliance and intra-African trade flows. Afreximbank has dramatically expanded its intra-African trade financing, increasing it from 3 per cent to 30 per cent with a strategic goal of reaching 40 per cent. Digital tools are central to this strategy, including the African Trade Gateway, which deploys AI-powered applications like the MANSA due diligence platform to streamline cross-border transactions. Dr Zanamwe particularly highlighted the Pan African Payment and Settlement System (PAPSS), a local currency payment mechanism already adopted by 16 central banks and over 160 commercial banks, including significant uptake from leading Kenyan financial institutions. He noted that PAPSS allows businesses to conduct trade in local currencies, diminishing reliance on the US dollar for regional exchanges and potentially saving the continent an estimated $5 billion annually. Additionally, a $1 billion Africa Collaborative Transit Guarantee Scheme is poised to save approximately $300 million each year by simplifying the movement of goods across African borders. The Intra-African Trade Fair has evolved into a premier event for fostering continental commerce. The inaugural IATF was held in Cairo, Egypt, from December 11 to 17, 2018, facilitating an estimated $32 billion in deals. The second edition took place in Durban, South Africa, from November 15 to 21, 2021, where approximately $42 billion in deals were concluded. The third iteration returned to Cairo, Egypt, from November 9 to 15, 2023, reportedly generating over $43 billion in trade and investment agreements. The upcoming IATF 2025, the fourth instalment of the fair, is scheduled to convene in Algiers, Algeria, from September 4 to September 10, 2025. Organised by Afreximbank in collaboration with the African Union Commission and the AfCFTA Secretariat, the event is expected to attract over 35,000 visitors, buyers, and conference delegates from all 55 African countries, the diaspora, and international participants. Dr Zanamwe conveyed strong optimism for the Algiers fair's commercial impact. "We are positive that we will be able to generate deals worth maybe about $40 to $45 billion. We are targeting more than 4,500 exhibitors," he stated, underlining the enthusiasm observed across various African business communities, including Kenya's National Chamber of Commerce. The fair serves as a vital platform for businesses to identify solutions to trade and investment challenges, connecting them directly with financiers, policymakers, and potential partners across the continent.

Kenyan firms urged to join Algeria Trade Fair

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