Cairo: African Export-Import Bank (Afreximbank) marked a significant milestone with the commencement of construction for the Afreximbank African Trade Centre (AATC) in Egypt’s New Capital, which will also house the bank’s new global headquarters.

According to African Press Organization, this facility, located in the Diplomatic District of the New Capital, aims to foster a modern environment that unites government ministries, foreign embassies, and international organizations. This is the first facility of its kind in North Africa.

During the groundbreaking ceremony, Egypt’s Prime Minister, Dr Mostafa Madbouly, emphasized the strategic importance of the trade center, highlighting Egypt’s role in promoting continental economic integration and trade facilitation. Afreximbank’s President, Dr George Elombi, acknowledged Egypt’s support since the bank’s inception in 1993 and described the relationship between the bank and the Egyptian government as symbiotic.

The AATC will serve as a hub for trade intelligence,
capacity building, and continental connectivity, with the goal of addressing the lack of trade and investment information among African businesses. As part of a larger vision, Afreximbank plans to establish a network of African Trade Centres in strategic locations across Africa and the Caribbean, promoting trade and economic cooperation.

The development, occupying a 48,888-square-metre site, will feature state-of-the-art facilities including office spaces, a trade information centre, an innovation and SME incubation centre, a conference centre, and more. Designed to achieve Gold-level LEED certification, the complex will incorporate sustainable and energy-efficient systems.

Egyptian firm Hassan Allam Construction has been appointed as the main contractor under a US$249.5 million contract, while EHAF Consulting Engineers will lead the architectural design and project supervision. The project is expected to generate significant employment opportunities during and after construction.

Scheduled for completion
in early 2029, the Cairo AATC groundbreaking follows similar initiatives in Barbados and Abuja, with plans underway for centers in Harare and Kampala. This network of trade centers will connect various stakeholders across the African and global trade and investment community, furthering Afreximbank’s commitment to enhancing intra-African trade.