Minister Duguid hails Africa’s rise at commissioning of first AATC

Senior Minister Dr William Duguid has hailed the opening of the first Africa-Atlantic Trade and Investment Corridor (AATC) Centre in Abuja, Nigeria, as a major step forward in strengthening ties between Africa and the Caribbean — two weeks after the groundbreaking here for what will be the first such facility outside the continent. 

Speaking at the grand commissioning ceremony on Thursday, attended by more than 500 distinguished guests, Duguid hailed the newly opened African Export-Import Bank (Afreximbank) facility as a proud achievement for the continent and a symbol of growing global influence.

“Afreximbank and the people of Nigeria can be proud of what you’ve accomplished in this building,” he said. “I look forward to the day when . . . we will have a commissioning of the AATC in Barbados as well.”

Dr Duguid described the centre as a clear message to the world that Africa, with its partners, is rising.

“Today we see the future of Africa,” he declared. “Look out world. Africa is strong and we are on the rise.”

Calling the occasion “momentous,” Dr Duguid said it was sigificant for the shared history of Barbados, Nigeria, and the wider African continent.

President and Chairman of the Board of Directors of Afreximbank, Professor Benedict Oramah, noted that the Abuja AATC is the first of several AATCs being developed across Africa and the Caribbean.

“Some would be Afreximbank owned while others would be supported through a franchise-scheme. With these, we expect to create a sizeable network of AATCs that will act as the lighthouses to guide the interconnections and flow of trade and investments within continental Africa and between Africa and Caribbean regions,” he said, noting that the AATC in Abuja has been a 41-month journey “built on hope and determination”.

“Like the other AATCs, the Abuja AATC would serve a multi-purpose goal; it will serve as a platform for fostering deeper regional and continental integration and house Afreximbank’s permanent regional office, bringing a three-decade-old aspiration to fruition. This AATC will also offer a technology incubation hub, an SME incubation facility, a Digital Africa Trade Gateway, a conference and exhibition facility and a business hotel.”

Secretary to the Government of the Federation, Dr George Akume said the AATC stands as a testament to the power of collaboration, resilience and forward-thinking leadership.

“It is more than a physical structure; it is the beginning of innovation, a hub for entrepreneurship and a catalyst for sustainable development,” he added.

The Abuja AATC is the first of seven planned AATCs across Africa, including Kampala, Uganda, Harare, Zimbabwe, Cairo, Egypt, Yaoundé, Cameroon, Tunis, Tunisia, and Kigali, Rwanda. 

The centre in Barbados will be the first AATC outside of Africa. (BT)