The debut AfBAA Expo which took place from 23-26 April at the FRA Military Base at Marrakech Airport demonstrated the potential for Business Aviation growth on the continent as delegates from the business aviation sector, regulators, airport authorities, OEMs
, military representatives, financiers, lawyers and service providers converged during the four day event.
Delegates debated and discussed the growing industry with representatives of the African Business Aviation Association and the associated exhibitors.
During the opening address, Tarek Ragheb, Founding Chairman of the Association (photo) announced the inception of a new AfBAA initiative that has resulted in a fund valued at $250 million, with a potential to grow to US$500 million. Underwritten by an undisclosed export agency the funding will be used solely for financing aircraft within Africa. Ragheb explained that the fund had been initiated in response to the continual financing challenges experienced by operators and OEMs in Africa.
This was highlighted at the AfBAA Symposium held in September 2013. AfBAA took up the challenge and within nine months has created a fund that aims to support continued growth and development of the Business Aviation market at a time when securing finances is still a barrier for aircraft acquisition in many countries. Further details of the fund will be announced at Europe’s premier business aviation event, the European Business Aviation Convention and Exhibition, EBACE in Geneva beginning May 22nd this year.
The show was supported by a range of companies and OEMS Beechcraft, Cessna, Dassault, Embraer, and Gulfstream displayed a total of 14 aircraft on the static. Embraer chose the venue to make the world debut of its Legacy 500 experimental aircraft equipped with its full interior cabin.
AfBAA also arranged a number of networking events including a “AfBAA Military Delegation Luncheon”. Attendees included over 90 of Africa’s key decision makers, including military Generals, and discussed areas which require high levels of co-operation between all aviation branches. The meeting also discussed the contribution that Business Aviation can make to support a country’s economic growth.
The exclusive invite only Gala Dinner also enabled OEMs, suppliers and aircraft owners and operators to network and meet in the prestigious surroundings of the Royal Mansour hotel.
The African Business Aviation Association was launched in May 2012 to represent the interests of Africa’s aircraft owners, operators, and suppliers to the Business Aviation community in a single voice. AfBAA has over 60 members in total.
AfBAA’s primary objective is to promote the understanding and benefits that Business Aviation provides for the continent’s economic development and prosperity through advocacy.
