Ugandan trade is set to benefit from the new trade center through the flow of information and the provision of trade services nationally and across East Africa.
Ugandan trade will benefit from the new African Export-Import Bank (Afreximbank) Africa Trade Centre’s (AATC) establishment in Kampala. The center will facilitate the flow of trade information and provide trade services across the East African region. The AATC will make the Ugandan capital an intra-Africa trade hub for the Eastern African region and position Kampala as a vital financial services center, according to the bank.
World-class facilities
The landmark trade center at Nakasero in central Kampala will host Afreximbank’s permanent East Africa Regional Office in addition to a world-class hotel, business information centre, large conference centre and technology incubation hub. The Kampala AATC is also set to accommodate other regional, continental and global financial and development institutions.
Matia Kasaija, Uganda’s Minister of Finance, Planning and Economic Development, recently handed over the land title to Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, during a ceremony held at the site of the future AATC.
Economic contribution
“We look forward to a stronger partnership in the development of the economic status of this great nation,” said Minister Kasaija at the event marking the handing over of the land title.
Afreximbank President Professor Benedict Oramah said: “We are grateful to His Excellency, President Yoweri Museveni, his government and the people of the Republic of Uganda for all the support rendered to Afreximbank over the years.” President Oramah added that the anticipated USD 120 million to USD 150 million to develop the site will have a major impact on the Ugandan economy.
A feasibility study and production of conceptual designs are currently underway and will be completed soon, after which construction plans will be finalized.