The building will host the Afreximbank Africa Trade Centre (AATC), for Eastern Africa. This comprises the permanent headquarters of the regional office, a five-star hotel, a business information centre, a conference centre and a technology incubation hub. The Kampala AATC is also expected to host offices of other global, continental and regional development and financial institutions.[2]
The building is planned to sit on a piece of land in Nakasero, in the Central DivisionofKampala, the capital and largest city in the country. The piece of land measures 2.43 acres (0.98 ha).[3] The land was a donation from the Ugandan government to Afrexim Bank, for the purpose of building the bank's regional headquarters for the bank's Eastern Africa region.[4]
Afrexim Bank maintains headquarters in Cairo, Egypt. The bank also maintains five regional branches at Abidjan, Abuja, Harare, Kampala and Yaounde.[5] The bank's Eastern Region headquarters were originally planned to be located in Nairobi, Kenya. However, after a three-year delay in obtaining Kenyan authorization, the bank switched to Kampala, Uganda.[6]
The headquarters were opened in late 2019, after agreements were signed between the bank and Ugandan government officials.[7][8] The interim, temporary offices are located at Rwenzori Towers, off of Nakasero Road, in Kampala.[5]
To expedite the establishment of permanent headquarters, the government of Uganda donated land along Yusuf Lule Road, in Kampala for the bank to build its regional offices.[9]
Construction is expected to start once the feasibility studies and architectural plans are finalized and approved. The construction is planned to cost about US$120 to US$150 million.[2]
