The Lagos Chamber of Commerce and Industry (LCCI) has applauded Africa’s global bank, United Bank for Africa (UBA), for its contributions to infrastructure development and trade growth in the 19 countries where it operates, adding that it is the reason why the bank is the preferred partner for the Lagos International Trade Fair (LITF).
The President of the Lagos Chamber of Commerce and Industry, Mrs Toki Mabogunje, stated this while delivering a welcome address on the theme of ‘Boosting Intra Africa Trade’ at the ongoing 35th edition of the Fair in Lagos.
She explained that the Africa Day was established in response to the African Continental Free Trade Area (AfCFTA) agreement, which she described as a “long-term dream and goal,” adding, “To this end, we have started taking first steps and are doing a lot of sensitisation and awareness especially for the MSMEs.”
Mabogunje, who made time to appreciate UBA for its efforts as the Fair’s headline sponsor, appreciated the bank’s consistency and support for SMEs by providing windows of opportunity for them to survive during and after the Fair.
She said: “Partnering with UBA is significant because it is an organisation that has its footprint in 20 countries and that is a big feat, it is not easy to achieve that. As partners, we are thinking in the same way and working together.”
According to a statement made at the event, UBA recognized that SMEs as the fulcrum of every economy’s growth and is committed to assisting them in thriving.
While speaking, Akinyemi, stated that boosting intra-Africa trade, is critical if Africa is to achieve true self-sufficiency and economic development, adding that “Africa, and indeed Africans, must own the narrative for the continent’s economic emancipation .”
Akinyemi went on to say that, “The Theme of this year’s event resonates with our mission to create value for our stakeholders by supporting businesses across Africa, which led to our rapid expansion from Ghana in 2005 to 18 other locations in Africa within a space of five years. AfCTA is a transformational journey that we must all embrace and encourage because it presents us with opportunities that will lead to creating a market of over 1.2 billion people with a combined GDP of over $3.4 trillion. Hence the possibilities of growth and prosperity on the continent are endless.”
Gabriel Idahosa, Chairman of the LCCI’s Trade Promotion Board, also agreed with the opportunities presented by AfCFTA and stated that it was one worth committing to. He also commended UBA and the LCCI President, as well as all members of the Executive Committee and Council, for their unwavering support, which has been critical to the fair’s success so far.
