Afreximbank is looking for ideas from academics to boost intra-Africa trade

February 7, 2025 in Policy, Trade & Industry by Editor

The platform is an opportunity for African, Caribbean and Diaspora lecturers, students, and researchers to showcase innovative research and prototypes that contribute towards intra-African trade and industrialisation. Entries close on March 28.

Afreximbank, in collaboration with the African Union Commission and the African Continental Free Trade Area (AfCTA) Secretariat, is looking for viable ideas from university lecturers, students, and researchers that will drive cross-border business and potentially strengthen the biggest single market in the world.

Based in Cairo, Egypt, Afreximbank supports trade across the continent using various financing options that are largely channeled through commercial banks in numerous countries. The bank’s Eastern Africa regional office is in Kampala.

According to Afreximbank, intra-African trade grew by 3.2 percent in 2023, reaching $192 billion, a total of 14.9 percent of all African trade. That is a slowdown from 10.4 percent growth in 2022 and it remains modest compared to intra-continental dynamics in regions like Asia and Europe. South Africa leads with a 21.4 percent share of intra-African trade, while the southern African region accounts for 41.1 percent of that total.

Through the African Research and Innovation Hub @IATF, the new initiative aims to promote and commercialise African research and innovation. The platform is an opportunity for African, Caribbean and Diaspora lecturers, students, and researchers to showcase innovative research and prototypes that contribute towards intra-African trade and industrialisation. Entries close on March 28.

It also seeks to develop industry collaborations and exchange knowledge with leading professionals in the field during the Intra-African Trade Fair (IATF2025) in Algiers, Algeria from September 4-10, 2025.

Mrs. Kanayo Awani, Executive Vice President Intra-African Trade and Export Development at Afreximbank said:  The African Research and Innovation Hub @IATF will serve as a groundbreaking platform for African, Caribbean and Diaspora lecturers, students, and researchers to demonstrate their capabilities, and connect with industry leaders, investors, and policymakers. This is more than an opportunity to display research; it’s a unique moment to shape the future of intra-African trade and industrialisation to drive economic growth across the continent.”

Entries will be judged by a panel consisting of distinguished trade experts, scholars, and industry leaders from across Africa. The panel will evaluate submissions based on innovation, relevance to African trade and industrialisation, and the potential for practical application.

Candidates should demonstrate a number of key criteria – including academic excellence and a passion for advancing research on intra-African trade, industrialisation, leadership and initiative in projects related to trade, industrialisation and innovation, and regional economic integration; high-quality research outputs or innovative prototypes aligned with IATF’s themes and a commitment to furthering knowledge and collaboration by sharing insights from the event with their academic institutions.

World Bank estimates show that the AfCFTA could raise Africa’s exports to the rest of the world by 32% by 2035 and catalyze foreign direct investment, which is expected to increase by between 111% and 159%.