By Nafisat Makinde
The Afreximbank African Trade Centre (AATC) was commissioned on Thursday, April 10, 2025, in Abuja, Nigeria, marking a significant milestone in the continent’s quest for economic integration and growth. The ceremony was attended by dignitaries from across Africa, who gathered to witness the unveiling of this landmark project.
The AATC is designed to serve as a critical platform for trade facilitation, capacity building, and investment in Africa’s economic transformation. According to Afreximbank, the centre will play a pivotal role in promoting intra-African trade and economic integration.
President Tinubu, represented by Senator George Akume, Secretary to the Government of the Federation, stated, “This occasion, symbolized by the commissioning of this building, is the realization of a bold vision for Africa’s economic future. The AATC stands as a testament to the power of collaboration, resilience, and forward-thinking leadership.” He also emphasized that “Afreximbank’s role in shaping Africa’s trade landscape cannot be overstated. The institution has consistently demonstrated its commitment to breaking down barriers, bridging financing gaps, and empowering African businesses to compete globally.”
Afreximbank has been instrumental in driving Africa’s economic growth through various initiatives, including the African Continental Free Trade Area (AfCFTA) Adjustment Fund, managed by its subsidiary, Fund for Export Development in Africa (FEDA), the Pan-African Payment and Settlement System (PAPSS), and Trade Finance Programmes.
Minister of Industries, Trade and Investment, Jumoke Oduwole, pointed out that “in the last decade, Afreximbank has distributed not less than $140 billion into the African continent, with Nigeria as the largest recipient of the bank’s trade and development finance, having attracted cumulative disbursements of about $52 billion.” She highlighted some of the projects embarked upon by the bank, including the African Medical Center of Excellence in Abuja, strategic support for the Dangote refinery, and African quality assurance centers in Ogun, Kaduna, and Imo states.
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, urged African countries to take back their destinies and free themselves from colonial legacy. “We must reshape our future. We must take back our destiny. We can no longer be hostages to a colonial legacy deeply rooted on divide and conquer. A legacy that makes Africans regard their colonizers as masters and brothers and sisters as enemies and evil aliens.”
The AATC is expected to promote economic diversification, bridge the gap in trade information and facilitation services, and support intra-African trade and investment. The centre will also provide a comprehensive ecosystem for trade and business activities, catering to the diverse needs of African businesses.
