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Afreximbank's $100 million Harare Trade Centre nears completion
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African Export-Import Bank (Afreximbank) is set to transform Harare's skyline with the imminent completion of its US$100 million African Trade Centre, a landmark project that will serve as the Southern African region's premier trade and investment hub.
The massive facility, situated between Herbert Chitepo and Livingstone Avenue along 7th Street in the capital's Upper Avenues area, is nearing completion ahead of its official commissioning scheduled for August. It is part of Afreximbank's ambitious strategy to establish regional trade centres across Africa and the Caribbean to support intra-African and extra-African trade, aligned with the African Continental Free Trade Agreement (AfCFTA).
The Harare project follows the commissioning of a similar facility in Abuja, Nigeria, on Thursday, and joins a growing network of Afreximbank Trade Centres in Cairo, Kampala, Kigali, Abidjan, Yaoundé, Tunis, and Barbados.
Like its counterparts, the Harare African Trade Centre will include modern commercial office space, a hotel with an expansive conference and exhibition centre, a digital innovation hub, a restaurant and bar, as well as vast parking facilities. The complex sits on a built-up area of 31,686 square metres and is being constructed by Oman Shapoorji Company LLC in collaboration with Zimbabwean contractors.
Construction began in September 2022 and is expected to wrap up by August 2025.
Former Reserve Bank of Zimbabwe governor Dr. John Mangudya played a pivotal role in the project's inception and development during his tenure as an Afreximbank board member representing Class B shareholders - African national financial institutions and private investors. Mangudya, who joined the bank in 1996 and served on its board from 2012, is now the CEO of the powerful Mutapa Investment Fund, overseeing Zimbabwe's key state-owned enterprises.
Afreximbank, a pan-African multilateral financial institution established in 1993, continues to drive trade finance, investment promotion, and economic integration across the continent. The bank's innovative trade centres aim to facilitate regional business collaboration, technology transfer, and SME growth, while offering facilities for exhibitions, networking, and international engagement.
At the Abuja centre launch, Afreximbank president Professor Benedict Oramah highlighted the strategic vision behind the initiative:
"The Abuja Afreximbank African Trade Centre (AATC) is the first of several AATCs under development across Africa and the Caribbean… These centres will serve as lighthouses guiding trade and investment flows within Africa and between the continent and the Caribbean."
The Harare AATC will house Afreximbank's Southern African regional office and act as a hub for economic diplomacy and trade facilitation. It is expected to significantly enhance Zimbabwe's appeal as a regional financial and investment destination, while revitalising the Upper Avenues precinct of the capital.
As of December 2024, Afreximbank reported total assets and contingencies exceeding US$40.1 billion, with shareholder funds standing at US$7.2 billion. The institution has also pioneered the Pan-African Payment and Settlement System (PAPSS), now adopted by the African Union to support the AfCFTA.
The Harare trade centre is widely seen as a cornerstone of Zimbabwe's re-engagement efforts with global partners and a symbol of its strategic role in Africa's evolving economic architecture.
The massive facility, situated between Herbert Chitepo and Livingstone Avenue along 7th Street in the capital's Upper Avenues area, is nearing completion ahead of its official commissioning scheduled for August. It is part of Afreximbank's ambitious strategy to establish regional trade centres across Africa and the Caribbean to support intra-African and extra-African trade, aligned with the African Continental Free Trade Agreement (AfCFTA).
The Harare project follows the commissioning of a similar facility in Abuja, Nigeria, on Thursday, and joins a growing network of Afreximbank Trade Centres in Cairo, Kampala, Kigali, Abidjan, Yaoundé, Tunis, and Barbados.
Like its counterparts, the Harare African Trade Centre will include modern commercial office space, a hotel with an expansive conference and exhibition centre, a digital innovation hub, a restaurant and bar, as well as vast parking facilities. The complex sits on a built-up area of 31,686 square metres and is being constructed by Oman Shapoorji Company LLC in collaboration with Zimbabwean contractors.
Construction began in September 2022 and is expected to wrap up by August 2025.
Former Reserve Bank of Zimbabwe governor Dr. John Mangudya played a pivotal role in the project's inception and development during his tenure as an Afreximbank board member representing Class B shareholders - African national financial institutions and private investors. Mangudya, who joined the bank in 1996 and served on its board from 2012, is now the CEO of the powerful Mutapa Investment Fund, overseeing Zimbabwe's key state-owned enterprises.
Afreximbank, a pan-African multilateral financial institution established in 1993, continues to drive trade finance, investment promotion, and economic integration across the continent. The bank's innovative trade centres aim to facilitate regional business collaboration, technology transfer, and SME growth, while offering facilities for exhibitions, networking, and international engagement.
At the Abuja centre launch, Afreximbank president Professor Benedict Oramah highlighted the strategic vision behind the initiative:
"The Abuja Afreximbank African Trade Centre (AATC) is the first of several AATCs under development across Africa and the Caribbean… These centres will serve as lighthouses guiding trade and investment flows within Africa and between the continent and the Caribbean."
The Harare AATC will house Afreximbank's Southern African regional office and act as a hub for economic diplomacy and trade facilitation. It is expected to significantly enhance Zimbabwe's appeal as a regional financial and investment destination, while revitalising the Upper Avenues precinct of the capital.
As of December 2024, Afreximbank reported total assets and contingencies exceeding US$40.1 billion, with shareholder funds standing at US$7.2 billion. The institution has also pioneered the Pan-African Payment and Settlement System (PAPSS), now adopted by the African Union to support the AfCFTA.
The Harare trade centre is widely seen as a cornerstone of Zimbabwe's re-engagement efforts with global partners and a symbol of its strategic role in Africa's evolving economic architecture.
Source - online
