President Mnangagwa lauds AFDB, Afrexim

by | Nov 16, 2021 | Business | 0 comments

 

Brian Temba

President Mnangagwa has lauded the commitment by Africa Development Bank (AFDB) and the Afrexim Bank to support developing economies with their growth aspirations.

Speaking after returning from the Intra-Africa Trade Fair in Durban, South Africa on Monday evening, President Mnangagwa said the platform is important as it allows African economies to learn from each other.

“The fair was a huge success as we were all focusing on the integration of Africa as a continent.

The Intra Africa Trade Fair is way of learning what each country produces and exports. Through this we now know what products are available in the continent to promote intertrade among ourselves,” said President Mnangagwa.

This is the fair`s second edition, the first one was hosted in Egypt.

The edition hosted in South Africa was originally supposed be held last year in in Kigali, Tanzania but due to the COVID-19 pandemic it was postponed.

South Africa volunteered to hold the event this year.

“The two banks (AFDB and Afrexim Bank) have raised funding to support African countries in developing their economies.

This money has been raised within Africa and no abroad, showing the commitment by our people within the two banks towards African Development,” said President Mnangagwa.

The trade fair comes at a time when the continent is trying to operationalise the Africa Free Trade Continental Area (AFCTA).