According to the organizers, the hybrid event, which will
hold from 15-21 November 2021 at Durban in South Africa promises to focus on
the newly-launched African Continental Free Trade Area (AfCFTA) – a single
market for goods and services across 55 countries, aimed at boosting trade and
investment. IATF is an initiative that supports the implementation of the
AfCFTA.
It is organized by Afreximbank in collaboration with the
African Union, marking an important step to sustainably address the gap in
trade and market information for the successful realization of the AfCFTA
objectives. Afreximbank has identified intra-African trade as a critical factor
for unlocking Africa’s economic potential.
PAC Capital said the sponsorship underscores its commitment
to help drive borderless capital solutions for sustainable growth and
development through trade in the African economy. Humphrey Oriakhi, Managing
Director, PAC Capital Limited, said, “PAC Capital is deeply committed to
contributing its quota to the enhancement of cross-border trade and market
information because we believe it is pivotal to the continent’s economic growth
and advancement.”
According to the organizers, “Although the share of intra-African
trade as a percentage of total African trade has increased from 10% in 1995 to
around 16% currently, it remains low compared to the levels in Europe (59%),
Asia (51%), and North America (37%).” Committed to transforming Africa,
Afreximbank launched the biennial intra-African Trade Fair in 2018 as a unique
platform to connect African buyers, sellers, and investors.
PAC Capital Limited assures of its unwavering support towards promoting trade activities in Africa through innovative initiatives as well as its bouquet of finance-tailored products that cater for its clients’ various transactional, capital raising, equity and debt finance needs, amongst others.