Cairo: African Export-Import Bank (Afreximbank), Africa’s leading multilateral financial institution, has officially commenced the construction of the Afreximbank African Trade Centre (AATC) in Egypt’s New Capital, marking a significant milestone. This new development will also serve as the bank’s global headquarters, located in a strategically important environment that includes government ministries, foreign embassies, and international organizations.

According to African Press Organization, the groundbreaking ceremony highlighted Egypt’s pivotal role in facilitating economic integration and trade across the continent. Egypt’s Prime Minister, Dr. Mostafa Madbouly, emphasized the significance of the AATC, reflecting Egypt’s commitment to enhancing trade and investment links within Africa.

Afreximbank’s President, Dr. George Elombi, acknowledged Egypt’s consistent support since the bank’s inception in 1993. He noted that Egypt, represented by its Central Bank, is Afreximbank’s largest sovereign shareholder
and has been instrumental in the bank’s growth. Dr. Elombi further explained that the AATC aims to address the lack of trade and investment information amongst African businesses, which has hindered intra-African trade for decades.

The project will establish Egypt as a key trade hub, featuring technology and SME incubation centers, a digital trade gateway, and comprehensive trade-supporting facilities. The AATC in Cairo is part of Afreximbank’s broader vision to create a network of African Trade Centres across Africa and the Caribbean, providing essential support to accelerate trade and economic cooperation.

Occupying a 48,888-square-metre site, the development will include two basement levels and six floors, offering extensive office space and hosting a range of modern facilities. The architectural design promotes sustainability and innovation, aiming for Gold-level LEED certification with smart energy systems and climate-responsive features.

Hassan Allam Construction has been appointed as the main contra
ctor under a US$249.5 million contract, with EHAF Consulting Engineers leading the architectural design and project supervision. The construction is expected to generate significant employment opportunities and stimulate local economic growth.

Scheduled for completion in early 2029, the AATC in Cairo follows similar groundbreaking projects in Barbados and Abuja, with ongoing developments in Harare and Kampala. The Afreximbank African Trade Centre network aims to connect various stakeholders in the trade and investment community across Africa and globally.