Nigerian businesses, well-positioned to foster intra-African trade growth

Executive Vice President of Afreximbank’s Intra-African Trade Bank, Kanayo Awani has urged Nigeria to broaden its presence across the continent and take the lead in fostering intra-African trade expansion.
During her opening speech at the High-Level Business Roadshow in Lagos, Nigeria, Kanayo Awani encouraged both the Nigerian Public and Private Sectors to actively engage and capitalize on these opportunities to enhance their businesses, promote intra-African trade, and contribute to economic integration under the AfCFTA. This trade fair serves as a platform to close the knowledge gap on trade and market information.

Afreximbank has injected over $36 billion into the Nigerian economy through its trade and project financing initiatives. These initiatives have spanned various sectors and industries, encompassing energy, transportation, financial services, healthcare, manufacturing, and trade infrastructure, among others.
She emphasized that Afreximbank remains dedicated to supporting Nigeria’s economic growth, as demonstrated by its involvement in several ongoing flagship projects.
Some of the projects include the US$300m 500-bed Africa Medical Centre of Excellence (AMCE) ongoing in Abuja in partnership with King’s College, London, the Afreximbank Africa Trade Centre (AATC), also in Abuja, and the Africa Quality Assurance Centre (AQAC) in Shagamu, Ogun State, which is already operational.
“Afreximbank intends to double its financing of intra-African trade to US$40 billion on a revolving basis by 2026, up from US$ 20 billion in 2021” she said.
Nigerian businesses are ready to take the lead in driving intra-African trade growth and swiftly extend their presence across the continent.