Cairo: African Export-Import Bank (Afreximbank), Africa’s leading multilateral financial institution, has marked a significant milestone with the groundbreaking ceremony of the Afreximbank African Trade Centre (AATC) in Egypt’s New Capital, which will also serve as the new global headquarters for the bank.
According to African Press Organization, the AATC is strategically located in the Diplomatic District of the New Capital, approximately 45 kilometers east of Cairo. It will be the first facility of its kind in the North Africa region, situated in a modern environment that comprises government ministries, foreign embassies, and international organizations. Addressing the ceremony, Egypt’s Prime Minister, Dr. Mostafa Madbouly, emphasized Egypt’s role in driving economic integration and trade facilitation on the continent.
Afreximbank’s President, Dr. George Elombi, expressed gratitude to the Government of Egypt for its longstanding support since the bank’s establishment in 1993. He acknowledged Egypt’s con
tribution to Afreximbank’s growth, noting that Egypt, represented by its Central Bank, is the largest sovereign shareholder of the bank. Dr. Elombi highlighted that the new trade centre aims to address the lack of trade and investment information among African businesses.
The relationship between Afreximbank and the Egyptian government has been described as symbiotic, with the bank disbursing US$41 billion into the Egyptian economy to date. This has supported investment in various sectors such as energy, telecommunications, construction, and manufacturing while enhancing Egypt-Africa trade relations. The new trade center will position Egypt as a major trade hub, incorporating technology and SME incubation centers and a digital African trade gateway offering various services.
The AATC in Cairo is part of Afreximbank’s broader vision to develop a network of African Trade Centres across Africa and the Caribbean. These centers aim to provide trade information, market intelligence, financing, and collaboration o
pportunities to boost intra-African growth. The Afreximbank headquarters will feature advanced facilities, including a trade information center, a library, an innovation center, and extensive support facilities, promoting seamless interaction between work, learning, and leisure.
Designed for environmental sustainability, the complex aims to achieve Gold-level LEED certification or higher, featuring smart energy systems and climate-responsive designs. The construction is led by Hassan Allam Construction under a US$249.5 million contract, with EHAF Consulting Engineers overseeing architectural design and project supervision.
Scheduled for completion in 2029, the AATC in Cairo is part of an expansive network that includes hubs in various African and Caribbean cities. These centers will connect a wide range of stakeholders in the global trade and investment community, fostering economic cooperation and development across the regions.