Afreximbank Unveils $120 Million African Trade Centre In Abuja To Boost Intra-African Trade.
In a landmark move set to transform Africa’s economic landscape, the African Export-Import Bank (Afreximbank) has officially unveiled its $120 million African Trade Centre (AATC) in Abuja. The project, a culmination of meticulous planning and bold vision, is aimed at accelerating intra-African trade, deepening regional integration, and advancing Nigeria’s aspirations of becoming a continental trade hub.
The Abuja AATC, situated on a 5,856-square-metre plot in the Federal Capital Territory, marks the first of seven planned trade centres across the continent and represents a key pillar of the African Continental Free Trade Area (AfCFTA) framework. Other planned locations include Kampala, Harare, Cairo, Yaoundé, Tunis, and Kigali.
According to the *Afreximbank African Trade Report 2024*, intra-African trade accounted for 14.9 per cent of total African trade in 2023—a modest improvement from 13.6 per cent in the previous year, yet still significantly lower than in other global regions. The report highlighted a general slowdown in the continent’s growth, with a rate of 3.2 per cent recorded in 2023, down from four per cent in 2022.
Despite these challenges, the resilience of intra-African trade underscores the urgency of infrastructure like the AATC. The newly launched centre is expected to serve not only as a business and trade hub but also as a platform for fostering collaboration among policymakers, financial institutions, and the private sector.
Comprising two interconnected nine-storey towers, the Abuja AATC is equipped with facilities for trade policy development, digital commerce, logistics coordination, and investment advisory. It also features a technology incubation hub and an SME support facility, designed to nurture innovation and support small businesses—the backbone of African economies.
Afreximbank’s decision to begin the initiative in Nigeria, Africa’s largest economy, reinforces the country’s pivotal role in shaping the continent’s trade future. The bank, which now has a permanent regional office in Nigeria for the first time, is reinforcing its commitment to fostering economic transformation across West Africa.
In addition, the centre will host local and international financial institutions, trade policy organisations, and development finance bodies. It is also set to integrate seamlessly with the *Digital Africa Trade Gateway*, a platform that will simplify payments, documentation, customs clearance, and other trade-related services across the continent.
Speaking at the launch, Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, hailed the project as a “vital infrastructure” for the successful implementation of the AfCFTA. “The AATC will catalyse investment, stimulate local entrepreneurship, and drive export promotion,” she said.
Industry analysts have echoed her optimism, stating that the AATC’s integrated model could significantly reduce trade costs, eliminate duplication of efforts, and enhance Africa’s collective ability to harness the $3.4 trillion AfCFTA market.
Built to global sustainability standards, the Abuja AATC symbolises Afreximbank’s long-standing commitment—over three decades—to transforming Africa’s trade architecture. With its bold vision and concrete investment, the bank is laying the foundation for a more connected, competitive, and prosperous continent.
