African Export-Import Bank (Afreximbank), Africa’s leading multilateral financial institution, on Saturday marked a historic milestone with the groundbreaking ceremony of the Afreximbank African Trade Centre (AATC) in Egypt’s New Capital, which will also be the home of the bank’s new global headquarters. The brand new facilities are scheduled for completion in early 2029.
Situated in the Diplomatic District of the New Capital, approximately 45 kilometres east of Cairo, the Afreximbank African Trade Centre will be located in a modern, strategically planned environment that brings together government ministries, foreign embassies, and international organisations. It will be the first facility of its kind in the North Africa region.
Speaking at the ceremony, Egypt’s Prime Minister, Mostafa Madbouly, said: “The establishment of the Afreximbank African Trade Centre (AATC) in Egypt’s New Capital reflects Egypt’s important role in driving continental economic integration and trade facilitation. As the host country of Afreximbank’s global headquarters, Egypt is proud to deepen this collaboration through a landmark facility that will serve as a hub for trade intelligence, capacity building, innovation, and continental connectivity.”
Afreximbank’s president and board chairman, George Elombi, expressed appreciation to the Government of Egypt for its steadfast support since the bank’s establishment in 1993. He noted that Egypt has hosted the Bank’s global headquarters for more than three decades, contributing significantly to the Afreximbank’s strong growth, and that Egypt, represented by its Central Bank, is also the largest sovereign shareholder of Afreximbank.
Elombi said: “This Afreximbank African Trade Centre in the New Capital is meant not simply to accommodate the expansion of the Bank, but provide a concrete solution designed to address the lack of trade and investment information among African businesses; a challenge that has confounded the growth of intra-African trade and investment for nearly seven decades.”
Describing the relationship between Afreximbank and the Government of Egypt as ‘truly symbiotic’, Elombi said the Bank has disbursed US$41 billion into the Egyptian economy to date, supporting increased investment in strategic sectors including energy, telecommunications, construction and manufacturing, while strengthening Egypt-Africa trade and investment.
“We have helped Egyptian entities capitalise on growing investment opportunities across Africa, helping them secure and execute projects in several countries.”
The Afreximbank African Trade Centre in the New Capital, Cairo, is expected to position Egypt as a major trade hub, housing technology and SME incubation centres as well as a digital African trade gateway offering trade information, customer due diligence, payments, and other digital services.
The state-of-the-art Afreximbank development will feature two basement levels and six floors, with a total gross built-up area of 156 147 square metres.
This makes the new Afreximbank headquarters one of Africa’s most advanced and environmentally conscious institutional developments.
Afreximbank has appointed Hassan Allam Construction, one of Egypt’s leading engineering and construction companies, as the main contractor under a US$249.5 million contract. This project will generate significant employment throughout the construction phase and in ongoing operations. It will stimulate opportunities for local contractors, suppliers, SMEs, and a wide range of service providers.