The Sunday Mail
Sydney Kawadza in CAIRO, Egypt
The mantra “Zimbabwe is Open for Business” is seemingly finding takers from the continent and beyond, as participants at the Intra-African Trade Fair (IATF) 2018, which ends tomorrow, were impressed by the local business contingent that showcased its products here.
Over 25 businesses, Government departments and business representative organisations are taking part in the fair at the Egypt International Exhibition Centre.
Organised by the African Export-Import Bank (Afreximbank) in partnership with the African Union (AU) Commission — and hosted by the government of Egypt — this year’s edition of IATF has attracted 1 100 exhibitors and an estimated 70 000 visitors.
Enquiries for local products have reportedly been solid and many serious investors are understood to be prepared to make their way to Zimbabwe to scout for opportunities.
Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said in an interview he was hopeful businesses will be able to sign good deals.
“I am also particularly impressed by the exhibition by Zimbabwe at this fair.
“I think, really, without necessarily favouring myself, we have outdone everyone here.
“We have done very well, we have shown that indeed Zimbabwe is open for business,” said Minister Ndlovu.
“We are negotiating with countries all over Africa and I certainly hope there will be good deals that business people will bring back home.”
Established companies such as Schweppes, ZFC Ltd and Arenel Sweets & Biscuits, including upcoming entities such as Chinhoyi’s Packzone Investments (PVT) Ltd, Broomrigg Farm Tomato Processors, Sweet Maungwe Honey, Throttle Clothing and Archer Clothing Manufacturers (PVT) Ltd, are some of the entities representing the country at the continental showcase.
The Federation of Egyptian Industries, which represents more than 60 000 enterprises, has since confirmed that it will be sending a delegation to Zimbabwe in March next year.
Engineer Mohamed Zani El Sewedy of the El Sewedy Electric — who met Minister Ndlovu last week — expressed his keenness to make the journey to Harare; so, too, did Dr Amany Asfour, world president of the International Federation for Business and Professional Women.
Afreximbank says deals worth $27 billion, which are more than the initial target of $25 billion, had been signed by the fourth day of the seven-day fair.
The Cairo, Egypt-based institution’s president, Prof Benedict Oramah, said there was immense potential in intra-continental trade.
“We are proud to witness this indication of what the African Continental Free Trade Area (AfCFTA) Agreement can yield for intra-continental trade.
“By bringing together buyers and sellers under one roof, in the first intra-African trade fair of its nature on the continent, Afreximbank is succeeding in facilitating the transformation and integration of African economies,” he said.
The Zimbabwean business delegation is led by ZimTrade and an industry umbrella body Zimbabwe National Chamber of Commerce (ZNCC).
