The African Export-Import Bank (Afreximbank) is set to embark on the construction of its largest headquarters on the African continent, securing a prime land plot spanning 50,000 square meters in Egypt’s burgeoning New Administrative Capital (NAC). This significant development was confirmed by the Ministry of Foreign Affairs in an announcement made on Sunday.
The expansive complex will encompass a trade center, a hotel, conference facilities, and exhibition halls, promising to become a major hub for business and trade-related activities in the region. Additionally, Afreximbank will acquire six land plots dedicated to the headquarters of the bank’s senior management, signaling its strong commitment to the NAC development project.
The initial investment for this monumental project is estimated at $32 million, underlining Afreximbank’s strategic focus on expanding its presence and operations in Egypt. The official contract for this ambitious endeavor was formally endorsed by Khaled Mahmoud Abbas, Chairman, and Managing Director of the Administrative Capital for Urban Development (ACUD), and Benedict Oramah, President of Afreximbank.
This landmark development highlights the growing importance of the New Administrative Capital as a key economic and business center in Egypt and underscores Afreximbank’s role as a vital financial institution supporting trade and economic growth across the African continent. The headquarters project is poised to make a significant contribution to the NAC’s ongoing development and further strengthen Egypt’s position as a regional trade and investment hub.
