The company said the sponsorship draws from the continent’s renewed drive to promote its Trade Sector
In a bid to reiterate its commitment towards promoting the trade agenda in Africa, PAC Capital Limited ‘PAC Capital’, a member of PanAfrican Capital Holdings Group, has concluded plans to sponsor the 2021 Intra-African Trade Fair (IATF) event organized by African Export-Import Bank (Afreximbank). The company said the sponsorship draws from the continent’s renewed drive to promote its Trade Sector.
According to the organizers, the hybrid event, which will hold from 15-21 November 2021 at Durban in South Africa promises to focus on the newly-launched African Continental Free Trade Area (AfCFTA) – a single market for goods and services across 55 countries, aimed at boosting trade and investment. IATF is an initiative that supports the implementation of the AfCFTA. It is organized by Afreximbank in collaboration with the African Union, marking an important step to sustainably address the gap in trade and market information for the successful realization of the AfCFTA objectives. Afreximbank has identified intra-African trade as a critical factor for unlocking Africa’s economic potential.
PAC Capital said the sponsorship underscores its commitment to help drive borderless capital solutions for sustainable growth and development through trade in the African economy. Humphrey Oriakhi, Managing Director, PAC Capital Limited, said, “PAC Capital is deeply committed to contributing its quota to the enhancement of cross-border trade and market information because we believe it is pivotal to the continent’s economic growth and advancement.”
According to the organizers, “Although the share of intra-African trade as a percentage of total African trade has increased from 10% in 1995 to around 16% currently, it remains low compared to the levels in Europe (59%), Asia (51%), and North America (37%).” Committed to transforming Africa, Afreximbank launched the biennial intra-African Trade Fair in 2018 as a unique platform to connect African buyers, sellers, and investors.
PAC Capital Limited assures of its unwavering support towards promoting trade activities in Africa through innovative initiatives as well as its bouquet of finance-tailored products that cater for its clients’ various transactional, capital raising, equity and debt finance needs, amongst others.