Multilateral Bank, African Export-Import Bank (Afreximbank) has officially inaugurated its first Afreximbank African Trade Centre (AATC) in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa.
The Abuja Afreximbank African Trade Centre (Abuja AATC) is the first of seven planned AATCs across Africa, including Kampala, Uganda, Harare, Zimbabwe, Cairo, Egypt, Yaoundé, Cameroon, Tunis, Tunisia, and Kigali, Rwanda. In addition, Afreximbank recently broke ground in Bridgetown, Barbados, to construct the first AATC outside of Africa.
Through franchising and licensing arrangements, the Bank intends to partner with relevant institutions and economic development organizations to establish non-Bank owned ATCs in the rest of Global Africa.
These AATCs will serve to link buyers, sellers, suppliers, service providers, enterprises, governments, chambers of commerce, financial institutions, economic development organisations and the general African and global trade and investment community.
Speaking at the inauguration President Bola Tinubu, represented by the Secretary to the Government of Federation, George Akume, highlighted the AATC’s strategic importance, its pivotal role in shaping Africa’s economic future and the significant impact it is poised to make on Africa’s trade and investment landscape.
Dr. Akume said: “Afreximbank African Trade Centre (AATC) is a landmark project that embodies our shared commitment to advancing Intra-African Trade, fostering economic integration and unlocking a vast potential of our continent.
“This occasion is a realisation of a bold vision for Africa’s economic future. AATC stands as a testament to the power of collaboration, resilience and forward-thinking leadership. It is more than a physical structure; it is the beginning of innovation, a hub for entrepreneurship and a catalyst for sustainable development.
He added, “This centre will serve as a critical platform for trade facilitation, capacity building and investment promotion – key pillars of Africa’s economic transformation.
“Afreximbank’s role in shaping Africa’s trade landscape cannot be overstated because the institution has consistently demonstrated its commitment to breaking down barriers, bridging financing gaps and empowering African businesses to be competitive.
“All these have been accomplished through flagship projects such as the AfCFTA adjustment fund that is managed by Afreximbank’s subsidiary, Fund for Export Development in Africa (FEDA), PAPSS and other Trade Finance Programmes.”
With these, we expect to create a sizeable network of AATCs that will act as the lighthouses to guide the interconnections and flow of trade and investments within continental Africa and between Africa and Caribbean regions.
AATC franchise-scheme
President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, echoed this sentiment, saying, “The Abuja AATC is the first of several AATCs being developed across Africa and the Caribbean. Some would be Afreximbank owned while others would be supported through a franchise-scheme.
“With these, we expect to create a sizeable network of AATCs that will act as the lighthouses to guide the interconnections and flow of trade and investments within continental Africa and between Africa and Caribbean regions.
“This AATC Abuja has been a 41-month journey, one built on hope and determination. Like the other AATCs, the Abuja AATC would serve a multi-purpose goal; it will serve as a platform for fostering deeper regional and continental integration and house Afreximbank’s permanent regional office, bringing a three-decade-old aspiration to fruition.
“This AATC will also offer a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, a conference and exhibition facility and a business hotel.”
Prof. Orama thanked the Federal Government of Nigeria for its support, noting that the relationship between the Bank and Nigeria has been truly mutually beneficial and most cordial.
The Abuja AATC comprises two interconnected nine-storey towers. One tower features world-class commercial A-grade office spaces, a trade and exhibition centre, a conference centre, a technology and SME incubator, a Digital Trade Gateway and a trade information services hub.
The adjoining tower boasts a 148-room business hotel, seminar and meeting rooms, a wellness centre, a restaurant and other ancillary facilities.
These features are designed to provide a comprehensive ecosystem for trade and business activities, catering to the diverse needs of African businesses.
It will also host office spaces for local and international financial institutions and policy organisations, ensuring a complete support system for trade and business activities.
The AATC building is expected to achieve gold – and potentially platinum – Leadership in Energy and Environmental Design (LEED) certification by the United States Green Building Council (USGBC), a globally recognised standard for sustainable building design and construction.
This certification will make the Abuja AATC one of the few certified buildings in Nigeria and West Africa, underscoring its commitment to environmental sustainability.
