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  • NOVA Merchant Bank increases staff salaries by 50%, effective Nov 1

    NOVA Merchant Bank increases staff salaries by 50%, effective Nov 1

    …begins 2024 Graduate Trainee Program.

    NOVA Merchant Bank Limited, a leading merchant bank in Nigeria, has announced a substantial increase in staff salaries, effective November 1, 2023.

    The increase in salary by up to 50% across all staff categories by the Board of Directors is a strategic move which shows a resounding display of commitment to its workforce and comes few months after the Bank announced the approval of its shareholders to transition into a commercial bank, marking a new era.

    According to the Bank, the decision to up its salary structure comes after reviewing the impact of the escalating cost of living and dire global economic situations.

    Acknowledging the challenges presented by the prevailing economic conditions, the Bank has thus taken proactive steps to tackle these issues reaffirming its commitment in prioritizing employee welfare with an aim to guarantee their well-being and financial stability.

    In the same vein, the Bank has announced the commencement of its 2024 NOVA Graduate Trainee Program, set to begin in January 2024 in Lagos. This program is part of its commitment towards nurturing the next generation of banking professionals with relevant skills and knowledge required to drive innovation in the financial sector. The Program is also undertaken by the Bank to empower fresh graduates and equip them with relevant skills required for modern banking practice driven by cutting-edge technologies, fostering innovation while preparing them for leadership positions.

    Explaining further, Mr. Wale Oyedeji, the Managing Director/Chief Executive Officer, said, “following a comprehensive assessment of the current economic conditions and their impact on our esteemed staff, we have opted to realign our salary structure to reflect the economic realities. We recognize the implications of recent economic policy actions on costs and this adjustment is aimed at easing the financial burden borne by our staff and their families”.

    Mr. Oyedeji reiterated that the management places a premium on recognizing and promoting outstanding performance as integral to the Bank’s fundamental principles. He emphasized the belief that fostering a harmonious approach to both professional and personal growth, significantly enhances the overall well-being and satisfaction of its employees.

    While emphasizing the significance of the Graduate Trainee Program, he added, “The NOVA Graduate Trainee Program is a pivotal initiative for us. We provide participants with curriculum taught by best-in-class faculty to empower them to create superior value in the markets we serve. This aligns with our mission to drive the next revolution wave of banking, and we believe these trainees will play a crucial role in shaping the future of the financial services industry.”

    He emphasized that the NOVA Graduate Trainee Program represents the Bank’s dedication to investing in human capital, equipping trainees with essential skills and knowledge required to navigate their careers successfully.

    About 70 staff are set to resume as the Bank prepares to commence operation on its Commercial Banking license. Close to fifty of these new staff have been scheduled for the Graduate Trainee Program and the Bank will continue to attract talents to drive its vision in the commercial and retail banking space.

    Bede Alugbue, the Head of Human Capital and Culture Management at NOVA Merchant Bank, highlighted the rigorous selection process, saying, “Out of over one thousand applicants, we meticulously selected the best 49 candidates to undergo the intensive training and become banking professionals. The program offers valuable insights into the global banking business, providing essential skills and expertise to drive innovative financial solutions.”

    Mr. Alugbue added that the Bank remains committed to recruiting outstanding individuals who will contribute to creating value for our shareholders, governments, and all stakeholders, particularly as the Bank transitions into a commercial banking franchise.

    NOVA Merchant Bank Limited is an investment grade rated merchant bank in Nigeria that offers an integrated suite of financial solutions covering Financial Intermediation, Wholesale and Investment Banking, Asset and Securities Management, Trade Services, Cash Management, Transaction and Digital Banking. Just recently, the shareholders of the bank approved the convert to commercial bank.

  • Palaver in the church: Banker unlawfully detained in SIU despite court order to free him

    Palaver in the church: Banker unlawfully detained in SIU despite court order to free him

    *Court documents attached

    A senior bank manager in one of the new generation banks has been detained over church dispute by the police Special Investigation Unit, SIU despite getting reprieve from a court to be granted bail.

    TheNewsGuru.com, (TNG) reports based on court documents sighted granting the accused Dr Chenenye Duru bail as the police conduct investigation into allegations leveled against him.

    The banker was arrested reportedly in connection with alleged uncomfortable ethical behaviours by some leaders of the church and for being vociferous, Duru was accosted by the police.

    The Living Christ Mission church, headed by Most Rev. Prof. Victor Onukogu, also known as Daddy Hezekiah, allegedly declared war with some of its former faithful, who rose recently against him over alleged misconduct.

    One of the leaders of the agitation group within the church, who was singled out for rough treatment for his role in the agitation, is a banker, Dr Duru.

    The banker is still in the custody of the Special Investigations Unit [SIU] section of the police in Abuja, having been accused by Daddy Hezekiah of alleged fraud.

    Until the spiritual leader and his young follower parted ways late last year, Dr. Duru was the accounts officer of the church in the South East.

    The matter was subsequently taken to a magistrate court, in Masaka, Nasarawa, where the magistrate court admitted Duru to bail on December 21 2023.

    Unfortunately, the banker is yet to be released, till date. Dr. Duru’s lawyers also obtained an order from the Federal High Court in Abuja, presided over by Justice D.O.Okorowo, for him to be released, pending the determination of the original summons.

    Still, the police is keeping the banker in its SIU unit in Abuja and has not yet released him.While ruling on 5th January in a case filed by the Applicant’s counsel, Chukwuemeka Uduma Kanu Esq., Justice Okorowo of the Federal High Court ordered Mr. Chinenye Duru who has been in custody since early December 2023 to be released, pending the determination of the originating Summons.Dr. Duru spent his Christmas and new year festivities in police custody, in spite of the fact that the courts had ordered for him to be released. One of his friends, who, said that he left the Living Christ Mission Church in protest about the same time with the banker, said that keeping Duru in custody through the yuletide season and the new year, were intended to punish him for daring to question some things in the church. He also alleged that the followers of Daddy Hezekiah have been demonizing Dr. Duru all over the internet, with a view to damage his reputation. He alleged that there is even pressure on Polaris Bank to relieve Duru of his job,at the same time as everything is being done to prevent him from being set free. Duru’s friend wondered whether membership of a religious group is now a prison sentence from which a member cannot walk away, if he no longer feels comfortable?Meanwhile, the legal counsel to Dr. Duru, Smart Udengwu has returned to the court to file further motions, to compel the police to release the banker, while whatever the case against him goes on.

    See documents below:

  • NOVA Merchant Bank set to begin commercial banking, appoints Adebowale Oyedeji as MD/CEO

    NOVA Merchant Bank set to begin commercial banking, appoints Adebowale Oyedeji as MD/CEO

    NOVA Merchant Bank Limited, a leading merchant bank in Nigeria, has announced that it is set to begin its conversion to full Commercial Banking Business following its recent requisition of the national commercial banking license from the relevant authorities.

    To this end, the Bank has appointed Mr. Adebowale Oyedeji, as the new Managing Director and Chief Executive Officer to effectively stir its operations and deliver on its new mandate. His appointment which takes effect from January 2, 2024, has been approved by the Central Bank of Nigeria (CBN).

    Wale Oyedeji is coming on board with several years of experience at the C-suite level from a major commercial bank in Nigeria, and will be succeeding the erstwhile MD, Mr. Nath Ude, whose tenure expired on November 6, 2023.

    The Board of NOVA has expressed its appreciation to Mr. Ude for his efforts and services to NOVA since his appointment in 2020.
    Wale’s wealth of hands-on experience combined with strong track record of delivering revenue objectives, business turnaround, improved productivity, people management, operational efficiency and risk control makes him a perfect fit to captain the ship of NOVA Merchant Bank.

    He has held several executive positions in foreign and Nigerian environments giving him the global perspective to leading a financial institution to success.
    He was previously the MD/CEO. Of Guaranty Trust Bank UK (a subsidiary of Guaranty Trust Bank Group) between 2008 and 2011 and was an Executive Director of Guaranty Trust Bank Group from 2011 to 2018 with supervision of various industry focused Corporate and Commercial Banking teams that transformed the Group. Just before his appointment as the MD/CEO of NOVA, Wale was on the Board of Stanbic-IBTC as an Independent Non-Executive Director (INED) from 2020 to 2023.

    Wale will lead the new executive team to implement the Bank’s Accelerated Growth Initiatives (AGI) for the next 5-year plan of the Bank commencing January 2024.
    Wale Oyedeji who expressed his excitement at the opportunity to lead the team in transforming NOVA from a leading Merchant Bank to a major Commercial bank, said, “I am honoured to be the pioneer Chief Executive Officer of the proposed NOVA Commercial Bank which is set to positively change the entire banking landscape”.

    Mr. Phillips Oduoza, the Chairman of the Board of NOVA Merchant Bank, who commented on Wale’s appointment, said, “this appointment is a reinforcement of the Bank’s belief that with the right people and leadership, using technology and innovation, the Bank will compete favourably for market share in the commercial and retail banking space.

    The Board believes that Wale’s hands-on experience and communication skills combined with his strong leadership capabilities will help NOVA deliver improved execution and financial performance, Mr. Oduoza stated”.
    Wale is an alumnus of University of Ibadan where he bagged a Bachelor of Science degree in Agricultural Economics. He also obtained his M. Sc degree in Financial Economics from University of London and Advanced Management Program (AMP) from Havard Business School (HBS).

    He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and Honorary member of Chartered Institute of Bankers (HCIB).

    NOVA Merchant Bank Limited is an investment grade rated merchant bank in Nigeria which offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Securities Trading, Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking.

  • Sterling Bank appoints Mayaki as new board chairman

    Sterling Bank appoints Mayaki as new board chairman

    …as Ighodalo Asue quits to face Edo guber battle

    Sterling Bank Limited has announced a strategic change in its Board of Directors, with Mr. Olatunji Mayaki assuming the role of Chairman of the Board effective January 1, 2024, following the resignation of Mr. Asue Ighodalo, effective December 31, 2023.

    In a statement released by the Company Secretary, Temitayo Adegoke: “The resignation of our erstwhile Chairman is in line with the best corporate governance practices as Mr. Ighodalo has offered himself for public service.” Ms. Adegoke continued by saying: “Mr. Mayaki takes on the leadership of the Board to continue the progressive growth and lead the Bank onto even greater success.”

    Recall that Asue is a guber aspirant for Edo 2024 race.

    Mayaki assumes the board’s leadership after serving as a non-executive director. His extensive background spans the practice of Law with the firm formerly known as Ajumogobia, Okeke, Aluko & Oyebode.

    He further served as the pioneer Vice President Legal & Compliance of ARM Limited, Country Head of Legal and Group Company Secretary for all Shell Petroleum companies in Nigeria, and Deputy Managing Director of Addax Petroleum Nigeria.

    He sits on the Governing Council of a Nigerian private university, Davidson, and a UK-based NGO and charitable organisation, Chestrad, from where he has championed the establishment of several programs in Nigeria to support health systems, social development, women and the girl child.

    An alumnus of the prestigious University of Ibadan, as well as Harvard and INSEAD business schools, Mayaki’s background in Law, Finance and Investment and overall career experience further strengthens the Bank’s dedication to strong corporate governance.

    In recent times, Sterling Bank has enhanced its focus on innovation and digitization, introducing specialized products such as Specta, The Business Hub, OneBank, Qore, Edubanc, HealthBanc, and Omni X, tailored to the unique needs of the Nigerian market.

    Furthermore, the Bank has forged a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to develop the real sector of the Nigerian economy with single-digit low-interest loans to SMEs, starting with a N5 billion scheme.

    Renowned for its now famous HEART of Sterling strategy; which focuses on investments in Health, Education, Agriculture, Renewable Energy and Transportation; the Bank featured on the prestigious top 100 fastest growing companies in Africa, as published by the globally recognised Financial Times all in 2023.

    With its optimism about Nigeria, irreverent brand voice and enviable talent management practices, Sterling has been the most recognised awardee of the Great Place To Work Institute over the last 5 years and was named earlier this year as the Overall Best Place To Work In Nigeria.

  • Reps spokesman raises alarm over bank attacks in Ekiti

    Reps spokesman raises alarm over bank attacks in Ekiti

    Spokesman for House of Representatives, Mr Akin Rotimi, has raised the alarm over the continued closure of banks in his constituency, owing to incessant attacks by hoodlums.

    Rotimi, representing Ikole/Oye Federal Constituency in Ekiti, raised the alarm while addressing newsmen in Ikole-Ekiti on Friday, shortly after meeting a total of 5,000 constituents and sharing yuletide gifts with them.

    He attributed the withdrawal of commercial bank operations in Ikole-Ekiti and environs to the security challenges in the area.

    The constituency had been facing security challenges in recent years, resulted in several cases of bank robberies, with their attendant loss of lives.

    The lawmaker, however, assured his constituents of concerted efforts to restore normalcy back to the area, with full resumption of banking operations.

    “As at today, there is no single bank operating in Ikole- Ekiti because of the state of insecurity. This is something that needs to be corrected.

    “I want to pledge that we will make efforts to ensure that financial institutions return to Ikole-Ekiti.

    “I want to commend the security agencies, that is, the police, the army, civil defence, and DSS; they are doing wonderful job, with the support of the state government.

    “We will continue to advocate, through constitutional amendment, for the role of the state police and also be more dynamic in ensuring that our security architecture responds to the peculiarity of our areas.

    “There are lots going on when you have one or two instances of security breaches; it is a problem and everybody is upset.

    “Generally, the rate of insecurity has reduced to some extent because of the ongoing efforts, but we will continue to try our best, as we are still very far from achieving our aim,” he said.

    The lawmaker, at the event, distributed 3,000 bags of rice to his constituents in a bid to relieve them of the current economic hardship.

    Rotimi said that the palliatives were facilitated from the Federal Ministry of Agriculture, in response with government’s concern for the masses.

    He said that the gesture was aimed at sharing love during the yuletide, saying that food security and agriculture production were part of the agenda of the 10th National Assembly.

    The lawmaker also used the occasion to mourn the demise of former Gov. Oluwotimi Akeredolu of Ondo State and former Speaker of the House of Representatives, Ghali Na’Abba, who both passed away on Wednesday.

    He described Akeredolu and Na’Abba as patriotic Nigerians who would forever be remembered for the legacies they left behind.

  • Cash scarcity: Ahead Christmas, banks slash withdrawal limits as Nigerians cry out

    Cash scarcity: Ahead Christmas, banks slash withdrawal limits as Nigerians cry out

    Bank customers have said that they are unable to withdraw their deposits for transaction in yuletide season in Ondo State, as the banks have slashed their withdrawal limits across the state.

    A probe into this development by a national newspaper revealed that many customers could not withdraw the amount they needed over the counter due to lack of adequate cash on the part of the banks.

    In Akure, the state capital customers disclosed that bank officials have adopted the system of reducing their withdrawals based on the amount they intended to withdraw.

    According to the customers, the bank officials asked them to use alternative channels to carry out their outstanding transactions.

    It was also observed that many banks were operating without adequate cash to meet their numerous customers’ needs.

    In some banks in Akure, customers only have access to cash ranging from N5,000 to the maximum of N20,000 respectively.

    Also, there were long queues of customers at the Automated Teller Machines points(ATMs) in some banks in the state capital.

    The development, it was learnt, affected several operators of Point-of-sale businesses who could not withdraw enough cash from the banks and the ATMs to run their businesses properly.

    Some of the customers observed that the problem had started since last week.

    A customer, Mrs Toyin Alade, said ”I came to Access Bank and First Bank branches in Alagbaka to collect N200,000 but I could not do so.”

    Thomas Nkoro cries out
    Access Bank officials said they could only give me N100,000. The first bank officers also claimed they could give me only N100,000. The two banks claimed there wasn’t enough cash and subsequently advised me to use alternative channels to do my remaining transactions. ”

    One of the banks in Akure, the state capital, who spoke with LEADERSHIP Weekend on condition of anonymity, confirmed the shortage of cash, saying it was due to the cash supply from the CBN.

    According to him, what we have resorted to doing is to encourage our customers to use alternative channels and give them the little we have on the ground. Currently, we are at the end of the year. The demand is huge and we have to balance it. The CBN hasn’t been giving us enough cash in recent times especially since the surge in demand started some weeks ago.

    An operator, who identified herself as Oliwatoyin, said the dearth of cash from the banks affected her business.

    “For the past few days now, I could not attend to a customer who wanted to withdraw over N25,000 at once. This was because I couldn’t receive much cash from my banks. I was forced to be rationing the little cash I had with me. “

  • Finally, Supreme Court okays indefinite use of old, new banknotes

    Finally, Supreme Court okays indefinite use of old, new banknotes

    The Supreme Court has ruled that both the old and the redesigned Naira banknotes remain valid legal tenders in the country beyond December 31.

    The apex court, in a ruling by a seven-man panel led by Justice Inyang Okoro, on Wednesday, said the banknotes should remain in circulation, pending when the Federal Government, after due consultation with relevant stakeholders, takes a decision on the matter.

    It made the order after hearing an application that was moved on behalf of the federal government by the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN.

    It will be recalled that the court nullified on March 3 the ban on the use of the old N200, N500, and N1000 banknotes as valid legal tenders by the President Muhammadu Buhari-led administration.

    The court held that the old Naira notes should be used alongside the redesigned currencies until the end of the year.

    In its lead judgement that was prepared and delivered by Justice Emmanuel Agim, the apex court slammed the FG for unilaterally introducing the demonitization policy through the Central Bank of Nigeria, CBN, without consulting the Council of States, the Federal Executive Council, the National Security Council, the National Economic Council, Civil Society Organizations and other relevant stakeholders.

    It held that the FG failed to give valid notice to all the federating units before it decided to withdraw the old banknotes from circulation and introduce new ones.

    The Supreme Court maintained that evidence before it established that a purported notice on the monetary policy was through “mere press remarks” by governor of the CBN, Mr. Godwin Emefiele.

    It held that such remarks did not qualify as “reasonable notice” to the states as envisaged under section 20(3) of the CBN Act.

  • Benue uncovers 600 govt bank accounts

    Benue uncovers 600 govt bank accounts

    The Benue Government, says it discovered over 600 banks accounts operated by the immediate past administration.

    The State Commissioner for Finance and Budget Planning, Mr. Michael Oglegba, said this was contrary to the 25 bank accounts the administration was shown on assumption of office.

    The Commissioner said this on Tuesday when members of the Correspondents Chapel of the Nigeria Union of Journalists (NUJ) paid him a courtesy visit in Makurdi.

    Oglegba said that the government uncovered the extra accounts from the information obtained through the Nigerian Inter Bank System.

    Oglegba said Gov. Hyacinth Alia had frozen all government accounts after taking over to enable the government understand what was on ground.

    “When we came in, we asked for the accounts and bank statements and we were presented with about 25 bank accounts.

    “A causal look at the Nigerian Inter Bank System showed that Benue Government has more than 600 accounts.

    “So the Governor needed to freeze those accounts to know exactly what was happening,” he added.

    Oglegba Gov. Alia has been able to reduce the state wage bill following ongoing audit of the system, adding that the process was still ongoing and actual figures would be announced when completed.

    On the state’s debt profile, he said both the state and local governments have a cumulative debt of over N359 billion.

    “The debts owed by the State itself was in excess of N200 billion. This includes local and foreign debts.

    “However, the LGAs also have their own debts, unpaid salaries, pensions, gratuities and local contractors that made up the other N150 billion.

    “The Alia administration has no reason to lie about the State debts.

    “We will be doing ourselves a great disservice if we say we own monies that we do not own. When we need loans for example who will give us?”

    The commissioner further disclosed that the handing over notes from the immediate past administration indicated that there were 19,000 pupils and 16,000 teacher, but which do not exist physically.

    He said that by the figure presented by the previous administration, it meant that the state has one pupil to one teacher ratio, which was false.

    Oglegba said the Alia administration has done so much within its five months in office without borrowing to meet its financial obligations.

    He said he has embarked on the construction of 16 township roads in Makurdi, installation of street lights, rehabilitation and remodeling of the state Assembly complex, and renovation of the state Secretariat, among others.

    He added that the government had also paid five months salaries in the last four months while all contractors handling government projects have been paid without collecting any loan.

    The commissioner urged members of the correspondents chapel to always be objective and ensure balance in their news reports, adding that the government would work closely with them.

    Earlier, Chairman of the chapel, Mr Emmanuel Antswen said they were ready to partner with the government to ensure that citizens were made abreast of government policies and programmes at all times.

  • IATF2023 informs UAE private sector on trade, investment opportunities across Africa

    IATF2023 informs UAE private sector on trade, investment opportunities across Africa

    The African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC), and the African Continental Free Trade Area (AfCFTA) Secretariat, on Thursday hosted the official business roadshow in Dubai, the UAE, ahead of the Intra-African Trade Fair (IATF 2023).

    The IATF2023 is to be held from Nov. 9 to Nov.15, 2023 in Cairo, Egypt.

    H.E. Humaid Mohamed Ben Salem, Secretary General of the Federation of UAE Chambers of Commerce, and Industry emphasised how the Federation of UAE Chambers of Commerce and Industry “is here to help and to support African companies” in doing business in and with the UAE.

    Mrs Kanayo Awani, Executive Vice President, Intra-African Trade Bank, Afreximbank, said the Intra-African Trade Fair was a key initiative to support the AfCFTA and summarised the key initiatives, interventions, and programmes that Afreximbank has implemented to facilitate trade and investment.

    In her remarks at the event, she said: “Today’s roadshow will provide you all, especially the business community with critical information on the IATF, its relevance to Africa’s transformation and integration ambitions and to support the implementation of the AfCFTA.

    “It should serve as a rallying call for the full participation of the UAE business community at the IATF2023 in Cairo. I’m hoping that the opportunity will be seized.”

    The AfCFTA promises to revolutionise trade, reshape markets across the region and boost output in the manufacturing and services sectors.

    It will fundamentally transform Africa’s economic structure and reduce Africa’s reliance on the export of raw materials.

    The AfCFTA will also breakdown the artificial borders and remove impediments to easier trade including market fragmentation, lack of economies of scale, reliance on the export of primary commodities, under-developed regional value chains as well as tariff and non-tariff barriers to trade.

    Mr Khalid al Ali, Regional Director, Africa, Dubai International Chamber, said Africa was vital to humanity’s future and how it was essential to work together to bring the best out of everyone.

    He also spoke about the offices that the Dubai Chamber had in Africa and said: “We’re all here to support each other and to do what I call the business of partnership.

    We are not there to invest; we are there for partnership. Our commitment to the (African) continent is very, very clear.”

    Mr Walid Hareb Al Falahi, Chief Executive Officer, UAE Trade Centre, commented on the opportunities in Africa and how the UAE Trade Centre acts as a facilitator for UAE companies seeking to do business in Africa.

    He said: “Africa is a very good place to start a business. It has really great potential for people interested in investing in infrastructure and looking at opportunities.

    “As your Trade Centre, we are a private initiative and what we aim for is to help your company penetrate Africa.”

    Delegates also participated in a vibrant question and answer session in which actionable insights were gleaned from the high-level panellists.

    Topics raised included the significance of the IATF for sub-Saharan Africa and broadening access to financing; how the IATF will help to promote the integration of the fast-growing sub regions; and how IATF as an advocate of business-to-business across various sectors will attract global participation.

    The roadshow also featured the signing of a Memorandum of Understanding (MoU) on the TRADAR Club between Afreximbank’s Trade Intelligence Solutions and the UAE Trade Centre by Ms Lizanne Case, Senior Manager of Trade Intelligence Solutions, Afreximbank, and Mr Walid Hareb Al Falahi, Chief Executive Officer, UAE Trade Centre.

    In her Closing Remarks, Gwen Mwaba, Director & Global Head, Trade Finance, Afreximbank, thanked all speakers, panellists, delegates, and online attendees and said that the Bank’s senior executives were looking forward to welcoming everyone to the Intra-African Trade Fair in Cairo in November.
    The IATF2023 United Arab Emirates High-Level Business Roadshow brought together captains of industry, the business community, high-level government officials, the diplomatic community, and executives and senior officials of Afreximbank, the African Union Commission and the AfCFTA Secretariat.
    They discussed how the IATF could play a pivotal role in boosting and promoting trade and investment links and opportunities under the African Continental Free Trade Area (AfCFTA) between the United Arab Emirates and the African continent.
    The IATF2023 roadshow in Dubai empowered the United Arab Emirates private sector with information about opportunities and benefits of participating in the IATF2023, and its role in supporting African integration and the success of the AfCFTA. IATF2023 is Africa’s premier trade and investment fair and is being held from 9 to 15 November in Cairo.

    As Africa’s largest trade and investment fair, the event is not to be missed for importers and exporters looking to take advantage of a single market of 1.4 billion people created by the AfCFTA with a combined Gross Domestic Product of over US 3.5 trillion dollars.
    The resoundingly successful inaugural trade fair held in Cairo, Egypt in 2018 was followed by an even more successful IATF2021 hosted in Durban.

    Collectively, the two editions of the Trade Fair brought together more than 2,500 exhibitors from 77 countries and generated over US$74 billion in trade and investment deals, demonstrating the immense potential that exists for intra-African trade.

    Building on this success, the third edition (IATF2023) being held in Cairo, Egypt, in November 2023, will again provide an opportunity for exhibitors to showcase their goods and services, engage in Business to Business (B2B) and Business to Government (B2G) exchanges, and conclude business deals which will ensure that the momentum toward greater intra-African trade is sustained.
    To register and be part of IATF2023, interested exhibitors, buyers, trade visitors and delegates are invited to visit www.intrafricantradefair.com and sign up. Follow our social media to get up-to-date information as well.
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