African Export-Import Bank (Afreximbank), Africa's leading multilateral financial institution, yesterday marked a historic milestone with the groundbreaking ceremony of the Afreximbank African Trade Centre (AATC) in Egypt's New Capital, which will also be the home of the Bank's new global headquarters.
Situated in the Diplomatic District of the New Capital, approximately 45 kilometres east of Cairo, the Afreximbank African Trade Centre will be located in a modern, strategically planned environment that brings together government ministries, foreign embassies, and international organisations. It will be the first facility of its kind in the North Africa region.
Speaking at the ceremony, Egypt's Prime Minister, Dr Mostafa Madbouly, said:
"The establishment of the Afreximbank African Trade Centre (AATC) in Egypt's New Capital reflects Egypt's important role in driving continental economic integration and trade facilitation. As the host country of Afreximbank's global headquarter, Egypt is proud to deepen this collaboration through a landmark facility that will serve as a hub for trade intelligence, capacity building, innovation, and continental connectivity."Related Articles
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Afreximbank's President and Chairman of its Board of Directors, Dr George Elombi, expressed appreciation to the government of Egypt for its steadfast support since the Bank's establishment in 1993. He noted that Egypt had hosted the Bank's global headquarters for more than three decades, contributing significantly to the Afreximbank's strong growth, and that Egypt, represented by its Central Bank, is also the largest sovereign shareholder of Afreximbank.
Dr Elombi said:
"This Afreximbank African Trade Centre in the New Capital is meant not simply to accommodate the expansion of the Bank, but provide a concrete solution designed to address the lack of trade and investment information among African businesses; a challenge that has confounded the growth of intra-African trade and investment for nearly seven decades."
Describing the relationship between Afreximbank and the government of Egypt as 'truly symbiotic', Dr Elombi said the Bank had disbursed US$41 billion into the Egyptian economy to date, supporting increased investment in strategic sectors including energy, telecommunications, construction, and manufacturing, while strengthening Egypt-Africa trade and investment.
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"We have helped Egyptian entities capitalise on growing investment opportunities across Africa, helping them secure and execute projects in several countries."
The Afreximbank African Trade Centre in the New Capital, Cairo, will position Egypt as a major trade hub, housing technology and SME incubation centres as well as a digital African trade gateway offering trade information, customer due diligence, payments, and other digital services.
The AATC in Cairo is part of Afreximbank's broader vision to develop a network of African Trade Centres in strategic commercial hubs across Africa and the Caribbean. These centres will provide trade information, market intelligence, financing, networking and collaboration opportunities, and essential support facilities to accelerate trade, strengthen economic cooperation, and drive intra-African growth.
Occupying a 48,888-square-metre site, the state-of-the-art Afreximbank development will feature two basement levels and six floors, with a total gross built-up area of 156,147 square metres. Once completed, the AATC in Cairo will offer 57,298 square metres of office space to accommodate Afreximbank's rapidly expanding workforce. Additional office space will be made available for African and international agencies involved in trade, finance, and investment, as well as for some foreign African diplomatic missions.
