Rwandan firms participate in intra-African trade fair in SA

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At least 10 local companies are showcasing their products and services at 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 RwandAir, Nova Coffee, Bourbon Coffee and drone company Charis UAS.

Also represented is local foods and beverages firm Urwibutso Enterprise and Irembo Ltd, a gateway to Rwandan government services among others.

Prime Minister Edouard Ngirente, who is lead Rwanda’s delegation at the opening of the trade fair, visited the pavilion on Tuesday, November 16, as businesses further link with international 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 Continental 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 percent in global trade.

The fund, organizers said Monday, is expected to be disbursed in all the businesses while there is particular focus on the automotive industry, Fintech as well as manufacturing.

Like Rwanda, 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 businesses across the continent and a place to build bridges and grow the continental economy.

eashimwe@newtimesrwanda.com