Lagos: Boosting trade flows amongst African countries remains a key economic priority. There is significant opportunity to accelerate the growing intra-African trade in order to unlock investment and catalyze industrialization, especially in processing and adding value to natural resources.
According to African Press Organization, the Africa in Figures 2025 report released by African Export-Import Bank (Afreximbank) indicates that intra-African trade grew by 5.4 percent in 2024, reaching US$206.6 billion. This growth is expected to continue with the African Continental Free Trade Area (AfCFTA) further enhancing trade. However, gaps in trade, investment, and market intelligence still constrain business growth. Limited knowledge of market opportunities, unclear regulatory information, and restricted access to trade finance continue to hinder businesses from expanding across borders.
The Intra-African Trade Fair (IATF) emerges as a crucial platform in addressing these challenges. Known as Africa's premier trade and investment marketplace, IATF has played a pivotal role in the continent's economic integration. The fourth edition, IATF2025 in Algiers, generated US$50 billion in trade and investment deals. It highlighted the growing momentum of trade within Africa, with significant increases in participation, deal volume, and transaction value. The Fair continues to serve as a catalyst for expanding market access, promoting African products, and fostering partnerships.
IATF has established itself as one of Africa's most influential engines for trade, investment, and economic integration. The upcoming IATF2027 in Lagos is expected to be the largest edition yet, with targets of over US$50 billion in trade and investment deals and more than 100,000 visitors. Anchored by the theme "Global Africa, Smart Trade: From Market Access to Market Power," the event aims to position Africa as a decisive force in shaping its economic future.
The Impact of the Intra-African Trade Fair (IATF) on Development and Trade, 2018-2024 report reveals that 62.4 percent of concluded deals directly supported intra-African trade, amounting to more than US$8.5 billion for each edition since 2018. Nearly 360,000 small businesses and SMEs, including women and youth-led enterprises, have benefited. Each fair supports more than half a million direct employment opportunities across the continent. The challenge lies not in capacity, but in connectivity and ensuring businesses continue to access necessary intelligence, partnerships, and support systems.
Platforms like IATF Virtual play a vital role in maintaining engagement among businesses, keeping visibility for exhibitors, and supporting year-round dialogue across sectors. For SMEs facing cost, travel, and logistics barriers, such platforms bridge these issues.
As Nigeria prepares to host IATF2027, the timing is crucial. The country is central to AfCFTA's success, not only due to its market size but also its vast resource base and industrial potential. Nigeria, as a leading producer of oil, gas, solid minerals, and key agricultural commodities, is well-positioned to drive the continent's needed industrialization.
It is essential for Nigerian and African businesses to seize opportunities presented by the continental free trade area. Capacity-building programs, export readiness clinics, and partnerships with institutions like the Nigerian Export Promotion Council are equipping SMEs with the tools needed for cross-border trade. Investments in infrastructure, such as the Lekki Deep Sea Port and logistics corridors, further strengthen the foundations for success.
Looking ahead, Africa is ready to increase intra-African trade. The continent has demonstrated the concept, proven the appetite, and achieved results. With Nigeria hosting Africa's biggest marketplace, the challenge is to transform current success into exponential progress.