The First Bank of Nigeria Limited has disclosed the reasons behind the sponsorship of the Africa International Trade Exhibition (A.I.T.E 2023) held on September 21 and 22, 2023, in New York, United States.

Speaking on the event themed, “The imperatives of global trade for African SMEs as a game changer for the continent’s future prosperity”, First Bank, in a statement on Monday, September 25, 2023, said the sponsorship reiterated the bank’s commitment to being the bank of first choice and financial gateway in supporting businesses to boost the growth and socio-economic development of Africa in the fast-evolving business landscape.

Speaking at the event, the CEO of First Bank Group, Dr. Adesola Adeduntan, said: “I am particularly delighted that this year’s theme beams the spotlight on a sector that can be referred to as the bedrock of Africa’s economic prosperity. Africa’s SME sector is also a good representation of the unyielding and resilient spirit of the African people in the face of many daunting challenges.

“With a vision to become ‘Africa’s Bank of First Choice’, First Bank’s commitment to the development and economic transformation of the African continent is unwavering and we will continue to make the required investments to actualize this goal. I make bold to say that, in First Bank, Africa has a dependable ally.

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“Indeed, it is the turn of Africa to rise, and First Bank is strategically positioned to provide the required financial services support to the SME sector that will catalyze the next phase of Africa’s growth and development.”

On his part, the Visioner of the African International Trade Exhibition project, Tunde MacAlabi, said: “The AITE project is conceived to assist African SMEs to gain greater penetration in the North American market that has huge potentials.

“The African American population in the U.S. is 30 million strong, spending close to 1.2 trillion dollars as consumers.

“The popularity of our afrobeat music, the ground that it is gaining in North America and the globe is remarkable. With this idea, pushing authentic African-made products into the market to rise on the wave of the popularity of our music can diversify the sources of foreign exchange income that we accurately need in Nigeria and Africa.

“Our effort is a complementary private sector-driven initiative to help bridge the commercial gap to increase the commercial engagement between Nigeria, Africa, and the USA.”

Representing the President and Chairman of the African Export-Import Bank (Afreximbank), Prof. Benedict Okey Oramah, the Vice President, Intra-African Trade of the bank, Kanayo Awani, said: “We must continue to leverage the platforms created by the Bank and AITE to forge partnerships, share ideas and contribute to the growth and development of African SMEs to ensure that their potentials as the driving force for the transformation of the continent. As l like to say, the opportunity is now, and it has a shelf life.”

Others at the event were the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite; the Minister of Aviation and Aerospace Development of Nigeria, Festus Keyamo, SAN; the Minister of State Federal Capital Territory, Dr Mariya Mahmoud; Nigeria’s High Commissioner to Canada, Adeyinka Asekun; and the Chairman/CEO of Nigerians in Diaspora Commission, Abike Dabiri; among others.

The Star