Rwanda—At least 10 local companies are showcasing their products and services in the ongoing Intra-African Trade Fair (IATF 2021), in Durban South Africa according to the ministry of Trade and Industry.
The companies include national carrier RwandaAir, Nova Coffee, Bourbon Coffee, and drone company Charis UAS.
Also represented are local foods and beverages firm Urwibutso Enterprise and Irembo Ltd, a gateway to Rwandan gover4nemnt services among others.
Prime Minister Eduardo Ngirente, who is Rwanda’s delegation at the opening of the trade fair, visited the pavilion on Tuesday, November 16, buyers, sellers, and investors.
At this year’s event, African leaders are focusing on boosting Intra-African trade and investment cementing on the recently launched African Free Trade Area (AfCFTA).
The forum is expected to yield trade deals for Africa worth $40 billion, up from the previous $32 billion.
The development comes at a time Africa leaders plan to increase the current 3% in global trade.
The fund, organizers said is expected to be disbursed in all the business while there is a particular focus on the automotive industry, Fintech as well as manufacturing.
Like Rwanda, the majority of African businesses courted in Durban in the hopes of securing investment opportunities.
South African President Cyril Ramaphosa formally opened the event and said it was a neutral point for business across the continent and a place to build bridges and grow the continental economy.