First Bank of Nigeria Limited recently demonstrated its commitment to promoting foreign direct investment (FDI) in Africa by sponsoring the Africa International Trade Exhibition (AITE) in New York.
As the premier bank in West Africa, FirstBank’s sponsorship of AITE aligns with its vision to be the financial gateway supporting businesses and economic development across the continent.
The event focused on enabling African small and medium-sized enterprises (SMEs) to access the sizable American consumer market. With over 30 million African Americans spending $1.2 trillion annually, US demand presents a major opportunity for African companies.
AITE founder Tunde MacAlabi explained, “Assisting African SMEs to increase exports to the US can diversify foreign exchange income flows to Nigeria and Africa.”
FirstBank CEO Dr. Adesola Adeduntan reiterated the bank’s dedication to African economic growth, stating: “FirstBank will continue making the required investments to support SMEs across Africa.”
Representing Afreximbank, Kanayo Awani, Executive Vice President of Intra-African Trade, highlighted AITE’s role in attracting investment and supporting the African Continental Free Trade Area.
The event convened leaders across business, government, and finance to build partnerships and promote economic cooperation between Africa and the world.
Key figures like Nigeria’s Aviation Minister Festus Keyamo and Industry Minister Dr. Uzoka-Anite underscored aviation’s significance and urged Nigerians abroad to invest in the country.
By supporting platforms like AITE, FirstBank demonstrates its commitment to enabling African SME growth and realizing the continent’s economic potential.