African Export-Import Bank has signed a formal agreement for the acquisition of land for the New Administrative Capital African Trade Centre (NAC-ATC), which will house the Bank’s headquarters, along with other trade-supporting facilities and entities, in Egypt’s new administrative capital in Cairo. The agreement provides for a complex that includes a conference centre, a hotel, an exhibition centre, an innovation hub and retail facilities. In addition to providing an integrated centre for trade information, trade services, trade finance and other trade facilitation services to African businesses, the NAC-ATC will bring together African and global trade ecosystems to create a powerful network that could be leveraged to explore business opportunities in those markets. Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB).

Source: News Business Ethiopia September 05, 2023 18:53 UTC