The African Export-Import Bank (Afreximbank) has reiterated the need for stronger intra-African trade, stressing that the continent cannot rely on foreign markets while ignoring its own potential.
Speaking at the Intra-African Trade Fair (IATF) 2025 Roadshow in Accra on Tuesday, June 10, the Bank’s Chief Economist and Managing Director for Research, Dr. Yemi Kale, said it is time for African countries to look within for trade partnerships, value addition, and industrial transformation.
“Trade cannot flourish in the absence of information. Africa must trade more with itself—not just in raw materials, but in value-added goods, services, and innovations,” he said.
Dr. Kale’s comments come as part of a broader campaign to whip up support for IATF 2025, set to take place from September 4 to 10 in Algiers, Algeria.
The Fair is described as the commercial face of the African Continental Free Trade Area (AfCFTA), which seeks to deepen economic integration by removing trade barriers among African states.
Highlighting missed opportunities in sectors such as meat and leather, Dr. Kale cited examples where African countries import billions in goods that other African nations can already supply.
“West African countries spend over US$3 billion importing meat from as far as Argentina and Australia, while countries like Botswana and Mali can meet the demand,” he noted.
He emphasised that the IATF is not a talk shop but a platform for action, linking businesses across Africa to foster trade and self-reliance.
“This is not about talking. We are saying Ghana and the rest of Africa must take advantage of the IATF platform. Over the years, over US$100 billion in trade deals have been signed because of this initiative,” he stated.
Ghana, which hosts the AfCFTA Secretariat, was encouraged to take a leading role at the 2025 Fair by showcasing its private sector, SMEs, creatives, and public institutions.
“We want to see Ghanaian businesses exhibiting, Ghanaian provinces hosting pavilions, and Ghanaian entrepreneurs closing deals,” Dr. Kale said.
According to Afreximbank, the 2025 edition of IATF will feature more than 2,000 exhibitors from over 75 countries, over 35,000 participants, and is projected to generate more than US$44 billion in trade and investment deals.
