Adopting the global Africa trade integration

In a bid to empower Africans across the globe and achieve a shared future, Kanayo Awani, the Executive Vice President of the Intra African Trade Bank, underscores the significance of adopting a diaspora strategy and partnering with the private sector to drive market access globally. Awani emphasizes that this strategy has always been integral to the promotion of intra African trade. Dating back to 2016, the bank developed an intra African trade strategy that encompassed trade within African countries, as well as trade between Africa and its diaspora. This forward-thinking approach positioned the bank for a 'global Africa' as it recognized the shared history and future among Africans worldwide. By implementing a diaspora strategy, the bank aims to empower Africans globally, foster unity, and leverage the characteristics of collective pasts to forge a united future. The concept of a 'global Africa' allows the bank to engage with Africans wherever they reside, emphasizing 'intra African trade' to include Africans globally. The bank has made significant strides in bridging the gap between Africa and the Caribbean, with active efforts to promote Afro-Caribbean trade and investment. Over the past few years, the bank has facilitated numerous deals and partnerships, amounting to nearly a billion dollars in investments. Initiatives such as climate adaptation projects, sports complexes, and support for creative industries have been pivotal in fostering economic growth and market access within the Caribbean region. The bank's focus on the creative industry reflects its commitment to addressing critical gaps, including financing, skills development, market access, and intellectual property protection. With a dedicated $1 billion facility for creative projects, the bank is driving innovation and promoting cultural exchange between Africa and the Caribbean. Through master classes, collaborations with industry experts, and international showcases, the bank is empowering creatives to expand their reach and access new markets. Looking ahead, the bank is also championing factoring and receivables finance as alternative trade finance instruments. By promoting the efficiency and effectiveness of factoring, the bank aims to enhance competitiveness and drive economic growth across the continent. With a focus on strategic partnerships and proactive initiatives, the Intra African Trade Bank is poised to revolutionize trade dynamics and empower Africans worldwide to realize their full economic potential.