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African Export-Import Bank (Afreximbank) says it has commenced construction of the Afreximbank African Trade Centre (AATC) in Egypt’s New Administrative Capital under a US$249.5 million contract.
The announcement was made in a statement issued from Cairo, Egypt on Monday.
The bank said the development will also house the bank’s new global headquarters.
The facility is located in the Diplomatic District, about 45 kilometres east of Cairo, and is expected to serve as a regional hub for trade, investment and financial services while supporting the bank’s expanding operations.
Speaking at the groundbreaking ceremony, Egypt’s Prime Minister, Mostafa Madbouly, said the project reflects Egypt’s role in promoting continental trade and economic cooperation as host of Afreximbank’s headquarters.
Afreximbank President and Chairman of the Board, George Elombi, said Egypt has hosted the bank since its establishment in 1993 and remains its largest sovereign shareholder through the Central Bank of Egypt.
Elombi added that the African Trade Centre is intended to address gaps in access to trade and investment information that have limited intra-African commerce.
He disclosed that Afreximbank had disbursed about US$41 billion into the Egyptian economy, supporting projects in energy, telecommunications, construction and manufacturing, while facilitating Egyptian investment across Africa.
The Cairo AATC will include office space for Afreximbank, a digital trade gateway, and facilities for SMEs and innovation. The
The bank said the complex was being developed on a 48,888-square-metre site and will meet recognised environmental efficiency standards.
Construction is scheduled for completion in early 2029.
The bank indicated that Cairo centre forms part of Afreximbank’s wider network of African Trade Centres under development across Africa and the Caribbean.
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