Tuesday 28/July/2026 10:31 AM
By: Agencies
Cape Town: Trade between India and Africa has surpassed $100 billion, highlighting the deepening economic partnership between the two regions, business leaders and policymakers heard at the India Africa Entrepreneurship Forum (IAEF) Summit in Cape Town.
Held at The Westin Cape Town, the three-day summit was organized by the India Africa Entrepreneurship Forum (IAEF) and, for the first time, received official sponsorship from the City of Cape Town. The event brought together entrepreneurs, investors, government officials and business leaders from India, Africa and the global diaspora to strengthen commercial ties and explore new investment opportunities.
The summit opened with addresses by Ethiopis Tafara, Regional Vice President for Africa at the International Finance Corporation (IFC), and Alan Winde, Premier of South Africa‘s Western Cape province.
According to the IAEF, India-Africa trade has grown from $7 billion in 2001 to more than $98 billion in 2023, while cumulative Indian investment in Africa has exceeded $75 billion, primarily in telecommunications, pharmaceuticals, infrastructure and agriculture.
Offering a more recent assessment, James Vos said trade between Africa and India exceeded $100 billion during the 2024-25 financial year, up from $56 billion in 2019-20, describing the growth as the beginning of even greater economic cooperation.
Delegates participated in plenary sessions, business meetings and sector-focused discussions covering renewable energy, pharmaceuticals, digital skills, climate-smart agriculture, fintech, green industrialization, manufacturing, logistics and digital infrastructure, as well as trade integration under the African Continental Free Trade Area (AfCFTA).
The IAEF estimates that India and Africa together represent a combined economic potential of nearly $7 trillion, with significant opportunities in healthcare, artificial intelligence, climate technologies and digital innovation.
During the summit, the IAEF also released its list of the 100 most influential entrepreneurs of Indian origin in Africa, recognizing business leaders from countries including Kenya, Ghana, the Democratic Republic of the Congo, Botswana, Madagascar and Mauritius. Among those recognized was Chetan Chug, chairman of the Winmart and SOMIKA Group in the Democratic Republic of the Congo.
The business summit followed the Fourth India-Africa Forum Summit, held in New Delhi from May 28 to 31, 2026. Indian officials said cumulative Indian investment in Africa reached around $80 billion between 1996 and 2025, supported by more than 190 lines of credit worth over $10 billion benefiting 41 African countries across sectors including water, agriculture, transport, energy and digital connectivity.
Participants said the next challenge is to translate the growing economic relationship into more concrete partnerships, particularly through small and medium-sized enterprises and startups, as Africa advances regional trade integration under the AfCFTA.
