Afreximbank launches first African trade centre

The African Export-Import Bank (Afreximbank) last week commissioned the first Afreximbank African Trade Centre (AATC) in Abuja, Nigeria, pushing for trade and investment on the continent.

The secretary to the government of Nigeria, George Akume, said during the commissioning ceremony that the trade centre is a landmark project that embodies the continent’s move to advance intra-African trade, fostering economic integration and unlocking Africa’s potential.

“This centre will serve as a critical platform for trade facilitation, capacity building and investment promotion – key pillars of Africa’s economic transformation.

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,” he said.

Afreximbank president and chairman of the board Benedict Oramah said the Abuja AATC is the first of several being developed across Africa and the Caribbean, adding that some would be Afreximbank-owned while others would be supported through a franchising scheme.

“With these, 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 … 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,” Oramah added.

He thanked the Nigerian government for its support, noting that the relationship between the bank and Nigeria has been mutually beneficial.

“Over the last three decades, successive governments have accorded unflinching support to Afreximbank, responding most positively to capital calls, creating a congenial environment for its smooth operations while providing the bank significant domestic policy support that helped to execute many of the development programmes in Nigeria,” the bank’s president noted.