Transforming Africa’s trade landscape

Afreximbank, the African Export-Import Bank, has taken a monumental step in transforming Africa's trade landscape with the commissioning of its first African Trade Centre in Abuja, Nigeria. This move aims to bolster trade and investment on the continent, signaling a significant shift towards fostering economic growth and development. In an exclusive interview with CNBC Africa, Robert Tomusange, Director and Global Head Administration of Afreximbank, shed light on the pivotal role the trade centre plays in positioning Abuja as a gateway for trade and investment in Africa. One of the key themes of the interview focused on the strategic partnerships Afreximbank is cultivating to establish the trade centre as a premier destination for trade facilitation. Tomusange emphasized the importance of collaborating with various stakeholders, including other trade centres, chambers of commerce, and government entities, to create a robust trade ecosystem that enhances connectivity and fosters economic prosperity. By leveraging these partnerships, Afreximbank aims to streamline trade processes and bridge the gap between Anglophone and Francophone Africa. Key Point 1: Establishing Comprehensive Networks Tomusange highlighted the critical role of partnerships in Afreximbank's mission to create a one-stop shop for trade services. By forging alliances with trade centres, financial institutions, and government bodies, the African Trade Centre in Abuja aims to centralize trade activities and facilitate seamless transactions. The establishment of dedicated trade centres for Anglophone and Francophone West Africa underscores Afreximbank's commitment to promoting regional integration and cross-border trade. Key Point 2: Promoting Business Engagement The integration of business hotel and conference exhibition centres within the trade facility underscores Afreximbank's focus on promoting business engagement and fostering networking opportunities. The inclusion of these amenities ensures that the trade centre caters to the diverse needs of the business community, offering a conducive environment for hosting conferences, business missions, and trade events. Additionally, the presence of a business hotel emphasizes Afreximbank's dedication to accommodating and servicing international business guests visiting the trade centre. Key Point 3: Expansion Plans and Future Prospects Tomusange provided insights into Afreximbank's expansion plans, detailing the timeline for upcoming trade centres in Harare, Kampala, Cairo, and Barbados. With construction underway for the Harare trade centre and plans in motion for additional centres in Yaounde, Kigali, Tunis, and Abidjan, Afreximbank is poised to extend its footprint across Africa and beyond. President Orama's mention of establishing an Africa trade centre in Switzerland hints at Afreximbank's ambition to expand its presence globally while maintaining a primary focus on Africa and the Caribbean. In conclusion, Afreximbank's visionary initiative to inaugurate the African Trade Centre in Abuja heralds a new era of trade facilitation and economic growth in Africa. By leveraging strategic partnerships, fostering business engagement, and expanding its network of trade centres, Afreximbank is spearheading efforts to revolutionize Africa's trade landscape and position the continent as a key player in the global economy.