Online Reporter
Business Reporter
THE African Export and Import Bank (Afreximbank)’s African Trade Centre Harare (AATC) is about 80 percent complete and on track for full completion by March next year, a senior official said.
The regional bank’s permanent regional office in Harare represents a massive anchor for the country’s economic landscape, bringing structural, financial and reputational benefits to Zimbabwe.
Afreximbank’s manager (client relations for Southern Africa) Mr Stanley Sachikonye revealed progress on the bank’s Harare office on Friday, adding that AATCs are landmark hubs being rolled out by Afreximbank across commercial capitals in the African and Caribbean regions to promote and capacitate trade and help diversify economies.
The regional head offices house Afreximbank’s trade capabilities in a network of iconic locations — giving stakeholders access to integrated trade services, critical data and opportunities to network and form partnerships, Mr Sachikonye said.
The Zimbabwe-based AATC serves as Afreximbank’s Southern Africa regional office, serving as the bank’s primary operational base for the SADC region.
It brings trade credit lines, export development programmes and financial guarantees directly to Zimbabwean businesses and regional exporters.
It also acts as a physical hub to support trade integration, logistics and policy alignment under the African Continental Free Trade Area.
The 35 000-square-metre complex enhances Harare’s commercial real estate landscape, creates direct and indirect jobs and elevates Harare’s standing as a major regional trade and diplomatic centre.
Mr Sachikonye told guests at the launch of Afreximbank’s African Trade and Distribution Company (ATDC) Zimbabwe in Harare that Afreximbank had begun signing up tenants for corporate offices in the complex.
“The project is now about 80 percent complete and is on track for completion in the first quarter of 2027. We are already taking up tenants for corporate offices,” Mr Sachikonye said.
“We look forward to hosting some of you at this iconic building.”
The Harare AATC comprises a seven-storey corporate office tower, a three-storey conference and exhibition centre and a 10-storey four-star business hotel.
It is one of a network of Afreximbank trade centres being rolled out in commercial capitals in Africa and the Caribbean to promote trade, diversify economies and give stakeholders access to integrated trade services, data and partnership opportunities.
Mr Sachikonye said the centre would bolster Harare’s position as a gateway to SADC and Central Africa from the main ports of South Africa and Mozambique.
Zimbabwe, he added, was well suited for production and services distribution and public and private sector participation would be key to the success of the African Continental Free Trade Area (AfCFTA).
AfCFTA is a landmark free trade agreement that unites 54 out of 55 African Union (AU) member states into a single continental market.
It represents the largest free trade area in the world by the number of participating countries, covering a market of over 1,4 billion people with a combined gross domestic product (GDP) of roughly US$3,4 trillion.
Zimbabwe has also won the bid to host the headquarters of the Intra-African Trade Fair Company, positioning the country closer to the centre of Africa’s expanding trade network under the African Continental Free Trade Area.
The establishment of the company’s headquarters in Harare signals confidence in Zimbabwe’s capacity to support the continent’s trade integration agenda and will elevate the country’s status as a regional trade and investment hub.
Mr Sachikonye said Afreximbank remained committed to supporting intra-African trade and investment and was ready to back the Zimbabwean Government and private sector.
He cited the bank’s Africa Trade Gateway, a suite of digital solutions, including ATG Connect for financing, investments, freight and logistics and EPC.
ATG is a collaborative ecosystem of digital services that allow corporations (importers, exporters, and other businesses) to trade with verified businesses, identify opportunities through access to market intelligence and regulatory information, investments, freight and logistics requests and requests for financing and payment services from participating banks.
Trades are facilitated with Verified African Businesses within Africa and with the rest of the world. CBZ Holdings group chief executive officer Mr Lawrence Nyazema told guests during the ATDC launch that transactions worth over US$50 billion were agreed at the last Intra-African Trade Fair in Algeria last year, which attracted more than 2 000 exhibitors from 132 countries.
In exactly three years, he said, the same trade fair would be held only 2,5km from where they were gathered for the ATDC Harare launch.
“So you can imagine what kind of a place you find yourself in,” said Mr Nyazema.
“Whether you are in hospitality, whether you are in food production, whether you are in transportation, that opportunity is enormous. And my message to Zimbabwean entities is to say, let’s prepare for that opportunity, because it is coming.
“But it’s (IATF) not only going to be in Zimbabwe for one occasion.”
IATF will be hosted in Zimbabwe for five consecutive years.
“What an opportunity. And are we ready for that opportunity?” he said.
Ideally, the IATFCO headquarters in Harare will enable Zimbabwe to host regular trade exhibitions, conferences and business engagements with stakeholders from across the continent. This should raise the country’s profile as a destination for trade and investment, while giving local companies greater access to regional markets.
The headquarters will stimulate economic activity through increased business tourism, trade exhibitions and conferences.
Delegations, investors and trade institutions from across Africa are expected to visit Zimbabwe more frequently, boosting demand in hospitality, transport, logistics and professional services.
The benefits from Afreximbank’s ATDC and IATFCO headquarters will ripple across Zimbabwe and the wider region, according to Trigrams economic analyst Mr Walter Mandeya.
“Afreximbank will deepen its footprint in Southern Africa, while the Government gains prestige, tax revenue and a stronger voice in continental trade affairs,” he said.
“Local corporates such as CBZ Holdings, along with the tenants already signing up for office space, will enjoy world-class facilities and direct access to regional markets.”
