Trade and Investment Exhibition Opens at Afreximbank AGM

A trade and investment exhibition to promote economic activities that deepen integration within the East African Community opened today in Kigali as part of activities marking the 24^th Annual General Meeting (AGM) of the African Export-import Bank (Afreximbank).

François Kanimba, Minister for Trade and Industry of Rwanda, performed the ribbon-cutting ceremony, joined by Dr George Elombi, Executive Vice President, Governance, Legal and Corporate Services, of Afreximbank.

In a statement, Dr Elombi said that the East African Community stood out within Africa’s regional economic blocs for the diversity of its merchandise trade and for the level of integration of its members, demonstrating the role of a dynamic intra-regional trade in enhancing economic activity and in bringing people together.

He stressed that increased trade enhanced business volumes and opportunities and helped in mobilising capital to support long term investments.

“Long term investments would support industrialisation, which, in turn, can act as a buffer against external shocks,” he continued, adding that Afreximbank’s current strategy was to support light manufacturing and commodity processing in order to begin to give meaning to the need to transform the nature and structure of African trade.

The trade exhibition, organised in collaboration with the Rwandan Development Board, Ministry of Finance and the Ministry of Trade and Industry, is being held under the theme ‘Boosting intra-African trade for regional integration’.

Exhibitors include: Carnegie Mellon University; Shiriki Hub, a solar kiosk designed to empower communities; Algorithm Inc., a software company offering integrated software products; Rwanda Clothing, founded by Joselyne Umutoniwase, a new talent in African fashion; Rwandair, a fast growing regional airline; and Rwanda Mountain Tea, an investor in tea plantations and processing facilities.