Afreximbank through its Africa Buyer Tour Programme partners with ARISE Gabon SEZ to drive Intra-Africa trade

Cairo, 07 Oct. 2024: - In its ongoing efforts to foster stronger trade links across the continent, African Export-Import Bank (Afreximbank) partnered with ARISE Gabon Special Economic Zone (GSEZ) to host the first African Buyer Tour Programme in Gabon under the African Buyers Programme initiative (ABP). The event brought together buyers from some of the continent's key markets such as Nigeria, Kenya and Tunisia.

Held during August 1-2 in Libreville, the event provided a platform for several African buyers to engage with suppliers in the wood and furniture sector, spotlighting Africa's capacity to meet its own demands, and driving forward the continent's self-reliance agenda.

Africa has traditionally relied on imports and therefore the Africa Buyer Tour Programme presents a perfect opportunity for various players to showcase the continent's manufacturing capabilities as well as engage in business-to-business meetings aimed at exploring trade opportunities.

Commenting on the Tour, Mrs. Kanayo Awani, Executive Vice President, Intra Africa Trade and Export Development, Afreximbank noted: "The Buyer Tour visit to the Gabon Special Economic Zone (GSEZ) highlights Afreximbank's strong commitment to promoting intra-African trade. By directly connecting credible buyers with African producers, we are showcasing the continent's manufacturing potential while building a network that supports sourcing within Africa. This initiative underscores our dedication to fostering sustainable trade ecosystems that fuel economic growth and strengthen self-reliance across the continent. The "Buyer Tours" will be replicated in other Industrial Parks in Africa as part of our product offering under the Bank's African Buyers Programme as well as Industrial Parks / Export Processing Zones Initiative."

Mr. Rahul Mittal, Director of Inter-Africa Sales at Arise IIP, said, "Arise SEZ in Gabon and across Africa opens up a vast market of locally produced goods, empowering the continent to reduce its reliance on imports. The African Buyer Tour has provided buyers with a unique opportunity to connect with over the 80 entities operating in GSEZ, showcasing the potential of homegrown manufacturing. Together with Afreximbank, as well as various buyers and manufacturers, we aspire to foster meaningful business partnerships that will strengthen the continent's economy."

Mr. Gabbar Bhachu, Technical Director of Wood Products Kenya Limited, expressed his appreciation, saying: "The Buyer Tour to Gabon has been a truly enlightening and valuable experience for both myself and my company. It enabled us to establish connections with ARISE and explore exciting business opportunities in the wood and furniture sectors. Through direct engagement, we were able to assess the quality and capacity of ARISE's production facilities. We have already begun negotiations to source materials for our operations. This initiative not only introduced us to new suppliers but also highlighted the vast potential of sourcing within Africa, strengthening our belief in the power of intra-Africa trade."

The Buyer Tour programme seeks to foster stronger trade relationships within Africa, reduce reliance on non-African imports and increase utilization of African-made products. The initiative also seeks to promote economic self-sufficiency and growth.

By directly connecting African buyers with African suppliers, Afreximbank continues to lay the groundwork for a more self-sufficient and economically robust continent. Through the initiative, Afreximbank is providing access to finance, trade facilitation and market intelligence critical for the promotion and facilitation of intra-African trade and implementation of the African Continental Free Trade Area (AfCFTA).

ENDS