August 3, 2026
Trade between India and Africa has surpassed $100 billion, reflecting the strengthening economic partnership between the two regions. The milestone was highlighted at the India Africa Entrepreneurship Forum (IAEF) Summit in Cape Town, which brought together entrepreneurs, investors, government officials and business leaders to promote trade, investment and business collaboration.
Held at The Westin Cape Town, the three-day summit was organised by the India Africa Entrepreneurship Forum with official sponsorship from the City of Cape Town. The event opened with remarks from senior leaders, including 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, particularly in telecommunications, pharmaceuticals, infrastructure and agriculture. More recently, James Vos noted that bilateral trade surpassed $100 billion during the 2024–25 financial year, signalling continued momentum in economic cooperation.
Delegates discussed opportunities in renewable energy, pharmaceuticals, digital skills, climate-smart agriculture, fintech, manufacturing, logistics, digital infrastructure and 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.
The summit also recognised the contributions of the Indian business community across Africa by unveiling its list of the 100 Most Influential Entrepreneurs of Indian Origin in Africa. The honourees included business leaders from Kenya, Ghana, the Democratic Republic of the Congo, Botswana, Madagascar and Mauritius, including Chetan Chug, Chairman of the Winmart and SOMIKA Group.
The event followed the Fourth India-Africa Forum Summit held in New Delhi in May 2026, where Indian officials reported that cumulative Indian investment in Africa had reached approximately $80 billion between 1996 and 2025. Participants agreed that the next phase of cooperation should focus on translating growing trade and investment into stronger partnerships, particularly through small and medium-sized enterprises, startups and deeper regional integration under the AfCFTA.