DRIVING AFCFTA SUCCESS: AFREXIMBANK AND LCCI EMPOWER NIGERIAN SMES AS LAGOS PREPARES TO HOST IATF2027
The Lagos Chamber of Commerce and Industry (LCCI) is delighted to announce its partnership with African Export-Import Bank (Afreximbank), which supported the participation of selected and trained Nigerian SMEs at the Intra-African Trade Fair (IATF2025) held in Algiers, Algeria, from 4 to 10 September. This strategic initiative provided Nigerian entrepreneurs with an unparalleled platform to access new markets, showcase their products, forge cross-border partnerships, and enhance export readiness.
This collaboration underscored our shared commitment to driving intra-African trade, innovation, and sustainable economic growth by facilitating SME participation in Africa’s premier trade marketplace. The initiative further strengthened the competitiveness of Nigerian businesses and advanced the goals of the African Continental Free Trade Area (AfCFTA) by unlocking opportunities for diversification, job creation, and value-chain expansion across the continent.
This partnership aligns with both Afreximbank and LCCI’s shared commitment to promoting trade and private sector development. LCCI and Afreximbank are proud to champion this milestone, which reaffirms their dedication to empowering SMEs as the backbone of Africa’s economic future and ensuring that Nigeria’s private sector plays a leading role in shaping the continent’s trade and investment landscape.
Commenting on the partnership, Yusuf Daya, Director of AU/AfCFTA and International Relations at Afreximbank, said that it was a reflection of the Bank’s unwavering commitment to promoting intra-African trade, fostering export diversification and driving private-sector-led growth across the continent.
“The Intra-African Trade Fair is a catalyst for economic transformation, providing African businesses with opportunities to expand beyond borders and strengthen regional value chains,” Mr. Daya explained. “By supporting the recent participation of 20 Nigerian SMEs in the Fair, Afreximbank is not only empowering indigenous enterprises but also advancing the objectives of the AfCFTA.”
The Chamber will play an even bigger role during IATF2027 by mobilizing the business community in Nigeria to collaborate on the trade fair planned to be held in Lagos, Nigeria.
Attended by more than 112,000 virtual and physical visitors from 132 countries, including Nigeria, IATF2025 ended on a remarkably high note with US$48.3 billion in trade and investment deals signed over the seven days of the continental exposition, which welcomed 2,148 exhibitors.
About LCCI
Founded in 1888, the Lagos Chamber of Commerce and Industry is the Premier Chamber of Commerce in Nigeria. It was incorporated in 1950 as a non-profit making organization, Limited by Guarantee under the Companies Act of 1948.
It is the foremost private sector group in Nigeria with over 4,000 corporate members. It also accounts for an estimated 60% of industrial output, 65% of general commerce, and 75% of financial services in the country.
The primary objective of the Chamber is to promote, support or oppose legislative or other measures affecting trade, industry, commerce, and agriculture. The Chamber represents the opinion of the business community on the above matters in particular and the economy. Over the past thirteen decades, LCCI has remained the leading voice of the private sector through its sustained public policy advocacy, stakeholders’ engagement, and trade promotion activities.
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com, www.lagoschamber.com
Media Contact:
Head, Corporate Communications
+234 8037726593
Sunday.osanyintuyi@lagoschamber.com
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
