President Bola Tinubu has inaugurated the Afreximbank African Trade Centre (AATC) in Abuja, describing the project as a shared commitment to advancing intra-African trade.
Tinubu, represented by George Akume, secretary to the government of the federation, said the initiative will foster economic integration and unlock the continent’s vast potential.
“This occasion is a realisation of a bold vision for Africa’s economic future. AATC stands as a testament to the power of collaboration, resilience and forward-thinking leadership,” Tinubu said.
“It is more than a physical structure; it is the beginning of innovation, a hub for entrepreneurship and a catalyst for sustainable development.
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“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.
“All these have been accomplished through flagship projects such as the AfCFTA adjustment fund that is managed by Afreximbank’s subsidiary, Fund for Export Development in Africa (FEDA), PAPSS and other Trade Finance Programmes.
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“The AATC located in Abuja represents yet another milestone in this journey and aligns perfectly with Nigeria’s strategic priorities under the federal government’s eight-point agenda, particularly in the areas of job creation, economic diversification, and regional integration.
“As we commission this remarkable edifice today, let us renew our resolve to build a stronger, more interconnected and prosperous Africa.”
‘ABUJA TO HOUSE AFREXIMBANK’S PERMANENT REGIONAL OFFICE’
Benedict Oramah, president of Afreximbank, said the Abuja AATC is the first of several centres being developed across Africa and the Caribbean, marking the completion of a 41-month journey.
Oramah said while some of the AATCs will be owned by Afreximbank, others will operate under a franchise scheme.
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“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,” he said.
“This AATC Abuja has been a 41-month journey, one built on hope and determination.
“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.
“This AATC will also offer a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, a conference and exhibition facility and a business hotel.”
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Oramah thanked the federal 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,” he said.
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On her part, Jumoke Oduwole, minister of industry, trade and investment, said the centre would serve Afreximbank, policymakers, and African youths eager for knowledge and innovation.
“It is for our women-owned businesses, building legacies with limited access, our SMEs, trying to move from survival to scale, our exporters, daring to compete globally,” she stated.
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‘ABUJA AATC IS DESIGNED TO PROVIDE COMPREHENSIVE TRADE ECOSYSTEM’
Afreximbank said the Abuja AATC consists of two interconnected nine-storey towers.
“One tower features world-class commercial A-grade office spaces, a trade and exhibition centre, a conference centre, a technology and SME incubator, a Digital Trade Gateway and a trade information services hub,” the bank explained.
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“The adjoining tower boasts a 148-room business hotel, seminar and meeting rooms, a wellness centre, a restaurant and other ancillary facilities.
“These features are designed to provide a comprehensive ecosystem for trade and business activities, catering to the diverse needs of African businesses.
“It will also host office spaces for local and international financial institutions and policy organisations, ensuring a complete support system for trade and business activities.”
According to the statement, over 500 guests attended the inauguration ceremony, including William Duguid, senior minister in the prime minister’s office of Barbados; Sylvester Grisby, minister of state for presidential affairs in Liberia; Wale Edun, minister of finance; Namadi Sambo, Nigeria’s former vice-president; Bockaire Kalokoh, deputy minister of finance of Sierra Leone; and Sheilla Chikomo, deputy minister of foreign affairs and international trade, Zimbabwe.
Others were Aliko Dangote, founder of the Dangote Group; Tony Elumelu, chairman of Transcorp Group, policymakers, pan-African CEOs, and entrepreneurs.
