TEHRAN – Iran will support investments by Iranian firms in Africa and efforts to expand exports to the continent, with export credit guarantees and development financing expected to underpin trade growth, the head of the Iran–Africa Joint Chamber of Commerce stated.

Masoud Berahman said the Export Guarantee Fund of Iran (EGFI) would back up to $3.0 billion of Iranian investments across Africa as part of broader efforts to strengthen commercial ties and reduce risks for private-sector investors.

He added that the National Development Fund (NDF) would provide around €2.0 billion to support startup and entrepreneurial projects linked to trade development.

Berahman said Africa, with its large population and broad consumer base, offered significant opportunities for Iranian goods, technical and engineering services and investment, but warned that realizing this potential would require stronger infrastructure, clearer policies and sustained government support.

He criticized the lack of a comprehensive trade roadmap, saying Iran’s export sector continues to face multiple challenges that make it difficult to systematically monitor markets and assess country-specific trade conditions.

Berahman said the Trade Promotion Organization (TPO) of Iran, the economic diplomacy department and the Iran Chamber of Commerce should work more closely with the private sector to strengthen digitalization and develop an operational trade roadmap, warning that fragmented approaches risk reinforcing what he described as an “island economy.”

“A shared roadmap is needed to guide our move toward target markets such as Africa,” he said, noting that the continent, with a population of about 1.45 billion, represents a future growth market for both goods and technical services.

He said Iran’s regional trade experience showed that relying mainly on neighboring markets, including Iraq, would not be sufficient to achieve sustainable export growth, calling instead for clear strategies and stronger state backing to diversify trade destinations.

Berahman stressed the need to professionalize export capacity building and move away from short-term, reactive approaches, arguing that a well-designed export roadmap based on detailed market analysis would help Iranian firms enter global markets, particularly in Africa.

He also highlighted the role of commercial attaches in expanding trade ties, noting that Turkey maintains 44 trade counsellors across Africa, compared with only three active Iranian counterparts, and called for greater use of economic diplomacy tools.

“Iran must expand its trade with neighboring countries, Africa and other emerging markets,” Berahman said, adding that coordinated policies and long-term planning would be essential to achieving that goal.

As announced last month by the acting head of the Africa office at the Trade Promotion Organization (TPO), Iran’s exports to Africa doubled in the first half of the current Iranian calendar year (March 21-September 22) compared with the same period last year.

Mohammadreza Safari announced a 100-percent growth in non-oil exports to the African market in the first half of this year and plans to hold the Africa Summit in late 2026.

He stated that this success demonstrates Iran's position in the potential-rich market of 1.4 billion people in Africa.

While detailing trade relations with African countries today, the official stated that Iran's exports to Africa in the first six months of this year reached $675 million, which has doubled compared to the same period last year.

The acting head of the Africa Office of Iran's Trade Development Organization described this growth as a success for the country and added: “This volume of exports is equivalent to 80 percent of the total exports to this continent last year, and we hope to achieve an unprecedented record in the past 10 years by the end of the year.”

Referring to sanctions and international conditions, Safari described Africa as a large and high-potential market for Iranian businesses and emphasized: "Many businesspeople are seeking new markets after recent events, and Africa can be a very suitable alternative. This continent, with a population of 1.4 billion, is a very large market for all kinds of Iranian products."

The acting head of the Africa Office cited the successful model of Asian countries such as China and Turkey as "presence and joint production with African companies" and said: "We should also move towards this type of cooperation. Considering the sanctions conditions, we can propose new models such as 'barter' to African counterparts. Some African countries, due to similar sanctions conditions, are interested in cooperating with Iran."

He referred to the formation of the "Eighth Meeting of the Africa Headquarters" in the administration and added: "This headquarters is formed with the presence of the First Vice President and 13 ministers, and we, in its economic committee which we are in charge of, have established eight specialized committees. Important issues such as shipping, air transportation, allocation of credit lines, and agricultural development are on the agenda of these committees and are being followed up."

At the end, Safari announced plans to hold the "Africa Summit" in the next Iranian year, which starts on March 21, 2026, and said: "The final decision regarding this summit will be made in the next meeting of the Africa Headquarters, and we have already started our planning."

Iranian business leaders have called for stronger engagement with Africa’s fast-developing infrastructure markets, emphasizing the continent’s vast potential for technical and engineering cooperation.

Speaking at the opening of the Iran–Africa Cooperation Forum on Technical and Engineering Services, held at the place of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) in mid-October, Payam Bagheri, deputy head of the ICCIMA, said Iran has extensive experience in the water industry and should leverage Africa’s unique opportunities in this field.

“Despite great potential, we have so far utilized only a fraction of it,” he said.

The event, titled developing cooperation between Iranian companies and African water project stakeholders, brought together high-level delegations from Mauritania, Algeria, Nigeria, and Tanzania at the ICCIMA headquarters in Tehran.

Bagheri described the gathering as an important step toward closer ties between Iranian and African business communities.

Ali Naghavi, head of ICCIMA’s Committee on Technical and Engineering Services, said the Chamber is determined to strengthen Iran’s role in exporting engineering and construction expertise.

“After the successful OPEC Fund event, this marks the second major international initiative to promote Iranian engineering services abroad,” he noted.

Naghavi added that employer representatives from the four African nations are attending the two-day event, where Iranian engineering firms are showcasing their capabilities through B2B meetings and specialized sessions.

“Identifying local partners, introducing real projects, and building a lasting presence for Iranian contractors and consultants in Africa are among our key objectives,” he said.

He pointed to the formation of a Joint Committee for Exporting Engineering Services at ICCIMA as “a coordinated step toward elevating Iran’s position in global markets,” calling the forum “the second milestone in a long-term national strategy.”

Reza Haji-Karim, chairman of the Federation of Iran’s Water Industry, highlighted the country’s proven expertise in designing, constructing, and operating water and wastewater facilities.

“With decades of experience managing water resources in arid and semi-arid regions, Iran is a reliable partner for African countries seeking to develop their water infrastructure and recycling systems,” he said.

Meanwhile, Haj-Rasouliha, head of UNESCO’s Regional Center on Urban Water Management in Iran, discussed the forum’s broader goals and announced that the next session of the Center’s Governing Board would be held in Tehran.

The two-day event features negotiation tables with Tanzanian and Nigerian representatives, B2B sessions with Iranian companies, and field visits to major water projects in Tehran — all designed to pave the way for practical, long-term cooperation between Iran and Africa.

Iran has stepped up engagement with Africa in recent months, sealing agreements with Tunisia and holding high-level meetings aimed at tapping into the continent’s growing markets. But experts warn that lasting success depends on removing structural barriers, especially in transport and financial channels.

EF/MA