Sundaymail Editor
Online Reporter
In a milestone moment for trade and investment across Africa, the African Export-Import Bank (Afreximbank) inaugurated its first Afreximbank African Trade Centre (AATC) in Abuja, Nigeria, on Tuesday.
The inaugural Abuja Afreximbank African Trade Centre, a significant US$20 million investment, signals the dawn of a transformative age for Africa’s economic landscape.
The trade centre is the first of seven others planned across Africa, including Harare, Zimbabwe; Kampala, Uganda; Cairo, Egypt; Yaoundé, Cameroon; Tunis, Tunisia and Kigali, Rwanda.
Speaking at the ceremony, the Secretary to the Government of the Federation, Nigeria Dr George Akume, who was representing Nigerian President Bola Ahmed Tinubu, stated: “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.
“This centre is a critical platform for trade facilitation, capacity building and investment promotion – key pillars of Africa’s economic transformation.”
He added: “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.
“The AATC located in Abuja represents yet another milestone in this journey and this aligns perfectly with Nigeria’s strategic priorities under the Federal Government’s eight-point agenda, particularly in the areas of job creation, economic diversification, and regional integration. As we commission this remarkable edifice today, let us renew our resolve to be the stronger, more interconnected and prosperous Africa.”
Afreximbank’s president and chairman of the board of directors, Professor Benedict Oramah, echoed this sentiment.
“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,” he said.
“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.”
With the opening of the Abuja AATC, Afreximbank continues its mission to promote intra-African trade and investment opportunities, laying the groundwork for a more prosperous and integrated African economy.
Over 500 distinguished guests attended the commissioning ceremony, with Zimbabwe represented by Foreign Affairs and International Trade the Deputy Minister Sheilla Chikomo.
The event was also well attended by business leaders led by billionaire entrepreneur Mr Aliko Dangote, founder and chief executive of the Dangote Group, Mr Tony Elumelu, chairman of Transcorp Group, policymakers, pan-African CEOs, and entrepreneurs.
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.
The global architect Messrs SVA International developed a multifaceted global design, drawing inspiration from the concept of a bazaar, which reflects the vibrant feature of daily life in many African cities.
Construction of the US$120 million project commenced in November 2021 on a prime piece of land measuring 5,856 square metres and was completed in 41 months.
Online Reporter