Zimbabwean government grants land to Afreximbank for construction of the Africa Trade Centre
21-12-2021 07:09:00 | by: Pie Kamau | hits: 3100 | Tags:

The African Export-Import Bank (Afreximbank) has been granted land in Harare by the Zimbabwean Government to build a landmark centre for facilitating intra-African trade.

Among other Afreximbank Africa Trade Centres (AATC) on the continent, the Harare AATC will house Afreximbank’s permanent regional office, a World-class hotel, a trade information centre, a major conference centre and a tech incubation lab. The centre is also set to accommodate other regional, continental, and global financial and development institutions. AATC will facilitate the flow of trade information and provide trade services across the Southern African Region.

Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said, “We are deeply grateful to the government and people of Zimbabwe for all the support rendered to Afreximbank and the donation of land for the Africa Trade Centre. Afreximbank has remained steadfast in its commitment to Zimbabwe—now more than ever during the COVID-19 pandemic. The AATC will be an iconic one-stop shop for the conduct of trade and make Harare a vital centre for delivering on the promise of the African Continental Free Trade Agreement.”

The construction of the Harare AATC is scheduled to begin in the third quarter of 2022 and will immediately create employment opportunities for Zimbabweans. Once operational, it will help make Harare an intra-African trade hub and support the city’s rejuvenation as an important centre for financial services.

In handing over the land title to Afreximbank, July Moyo, Minister of Local Government and Public Works, said the AATC would help transform the landscape of the area and would become the “Afreximbank Smart City.” He also expressed the Government’s profound appreciation to Afreximbank for the unrestrained support to the Country. “Zimbabwe remains greatly indebted to Afreximbank for the critical lifeline support that is geared at rejuvenating economic activity. As a country, we will continue to cherish such mutually beneficial partnerships that propel Zimbabwe forward on the economic front,” said the Minister.

John Mangudya, Governor of the Reserve Bank of Zimbabwe said, “I wish to convey our heartfelt congratulations to Afreximbank for this beautiful piece of land in Zimbabwe. Afreximbank has in the past 28 years transformed the face of Africa by financing trade for sustained development. We look forward with great pride that our future is bright with the presence of Afreximbank in our country and the region.”

The notable milestone handover ceremony was also attended by Afreximbank and senior officials from the Zimbabwean government including Mr Denys Denya, Executive Vice President in charge of Finance, Administration and Banking Operations at Afreximbank and Professor Mthuli Ncube, Minister of Finance, Trade, and Economic Development.