The African Export-Import Bank (Afreximbank) inaugurated its first African Trade Centre (AATC) in Abuja, Nigeria, marking a significant stride towards bolstering trade and investment within the African continent. The Abuja AATC is the flagship project in a network of seven centers planned across Africa, with additional locations planned in Kampala, Harare, Cairo, Yaoundé, Tunis, and Kigali. Beyond the African continent, Afreximbank has also initiated the construction of an AATC in Bridgetown, Barbados, expanding its reach and influence globally. The bank’s vision extends further, encompassing plans to establish a global network of AATCs through strategic partnerships with relevant institutions and economic development organizations using franchising and licensing agreements, thereby creating a comprehensive framework to connect stakeholders across the African and global trade and investment landscape. This network aims to facilitate interaction and collaboration between buyers, sellers, suppliers, service providers, businesses, governments, chambers of commerce, financial institutions, economic development organizations, and the broader trade and investment community.
The opening ceremony in Abuja was graced by dignitaries including Dr. George Akume, the Secretary to the Government of the Federation, representing President Bola Tinubu. Akume emphasized the AATC’s pivotal role in propelling intra-African trade, strengthening economic integration, and unlocking Africa’s immense economic potential. He hailed the center as a testament to collaborative efforts, resilience, and visionary leadership, symbolizing more than just a physical structure, but a hub for innovation, entrepreneurship, and sustainable development. The AATC’s focus on trade facilitation, capacity building, and investment promotion aligns seamlessly with Nigeria’s strategic priorities under the Federal Government’s eight-point agenda, particularly in job creation, economic diversification, and regional integration. Akume’s address underscored the AATC’s potential to contribute significantly to a stronger, more interconnected, and prosperous Africa.
Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, echoed these sentiments, highlighting the Abuja AATC as the first of several centers envisioned across Africa and the Caribbean. These interconnected AATCs are designed to serve as beacons guiding the flow of trade and investment within Africa and between Africa and the Caribbean. The Abuja AATC, realized after 41 months of dedicated work, embodies hope and determination. It serves a multifaceted purpose, acting as a platform for deeper regional and continental integration, housing Afreximbank’s permanent regional office, and providing resources such as a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, a conference and exhibition facility, and a business hotel.
Oramah expressed gratitude for the unwavering support from the Nigerian government, acknowledging a long-standing mutually beneficial relationship. He emphasized the instrumental role successive Nigerian governments have played in supporting Afreximbank’s operations through consistent financial contributions, facilitating a conducive operating environment, and providing vital domestic policy support. This collaboration has enabled the successful execution of numerous development programs within Nigeria.
The Abuja AATC comprises two interconnected nine-story towers. The first tower houses A-grade commercial office spaces, a trade and exhibition center, a conference center, a technology and SME incubator, a digital trade gateway, and a trade information services hub. The second tower accommodates a 148-room business hotel, seminar and meeting rooms, a wellness center, a restaurant, and other supplementary facilities. This comprehensive ecosystem caters to the diverse needs of African businesses, fostering a dynamic environment for trade and business activities. The center will also host offices for local and international financial institutions and policy organizations, further strengthening the support system for trade and business operations.
The inauguration ceremony attracted a distinguished gathering of dignitaries, including representatives from Barbados, Liberia, Sierra Leone, and Zimbabwe, along with key Nigerian government officials. The event also saw the participation of prominent business leaders, including Aliko Dangote, founder and CEO of the Dangote Group, and Tony Elumelu, Chairman of Transcorp Group, underscoring the significance of the AATC within the business community.
The launch of the Abuja AATC marks a significant milestone towards fostering stronger intra-African trade relationships, supporting regional economic development, and promoting financial inclusion. It signifies a commitment to enhancing critical infrastructure supporting the ease of doing business across Africa and improving access to trade finance and information, all crucial components for the continent’s economic progression. The Center serves as a strategic platform for businesses within the continent, providing a centralized hub for information exchange, collaboration, and capacity building.
Afreximbank’s initiative in establishing a pan-African network of AATCs demonstrates its proactive approach to addressing the unique challenges faced by African businesses as they navigate the complexities of international trade. These centers aim to equip entrepreneurs with the necessary tools, resources, and support systems required to thrive in an increasingly globalized market. The strategic partnerships developed to expand the AATC network underscore the shared vision and collective effort needed to uplift African businesses and forge pathways towards sustainable economic growth. The potential of this interconnected network to empower African businesses and facilitate their integration into the global economic landscape is immense. The Abuja AATC stands as a symbol of Afreximbank’s dedication to the advancement of African trade and its belief in the continent’s inherent potential.
