Work has commenced on African Export-Import Bank’s (Afreximbank) new global headquarters in Egypt. The Exim Bank has awarded a $250 million contract to Cairo-basedWork has commenced on African Export-Import Bank’s (Afreximbank) new global headquarters in Egypt. The Exim Bank has awarded a $250 million contract to Cairo-based

Afreximbank’s new global HQ in Egypt to open in 2029

2025/12/15 12:08

Work has commenced on African Export-Import Bank’s (Afreximbank) new global headquarters in Egypt.

The Exim Bank has awarded a $250 million contract to Cairo-based Hassan Allam Construction to build its Afreximbank African Trade Centre (AATC) in New Administrative Capital.

The headquarters, located in the Diplomatic District of the New Capital, 45 km east of Cairo, is scheduled for completion in early 2029, Afreximbank said in a statement.

Once completed, the AATC in Cairo will offer 57,298 sq m of office space for Afreximbank’s growing workforce. Additional office space will be available for African and international agencies involved in trade, finance, and investment, as well as for foreign African diplomatic missions.

The complex will host a trade information centre, a library and knowledge hub, an innovation and SME incubation centre to support entrepreneurship, a business centre, a 110-room aparthotel, a 750-seater conference centre, an exhibition centre, retail and dining outlets, and a 1,200-bay parking facility.

Afreximbank has disbursed $41 billion into the Egyptian economy to date, supporting increased investment in sectors such as energy, telecommunications, construction, and manufacturing, said Afreximbank’s president and chairman George Elombi.

In 2021 Egypt joined its largest free trade agreement yet, the African Continental Free Trade Area (AfCFTA), which gives access to a market of 1.5 billion people. The Egyptian government has set a target for such trade to roughly double to $15 billion by year-end. 

Market Opportunity
Metaverse HQ Logo
Metaverse HQ Price(HQ)
$0.000084
$0.000084$0.000084
-3.44%
USD
Metaverse HQ (HQ) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

The Channel Factories We’ve Been Waiting For

The Channel Factories We’ve Been Waiting For

The post The Channel Factories We’ve Been Waiting For appeared on BitcoinEthereumNews.com. Visions of future technology are often prescient about the broad strokes while flubbing the details. The tablets in “2001: A Space Odyssey” do indeed look like iPads, but you never see the astronauts paying for subscriptions or wasting hours on Candy Crush.  Channel factories are one vision that arose early in the history of the Lightning Network to address some challenges that Lightning has faced from the beginning. Despite having grown to become Bitcoin’s most successful layer-2 scaling solution, with instant and low-fee payments, Lightning’s scale is limited by its reliance on payment channels. Although Lightning shifts most transactions off-chain, each payment channel still requires an on-chain transaction to open and (usually) another to close. As adoption grows, pressure on the blockchain grows with it. The need for a more scalable approach to managing channels is clear. Channel factories were supposed to meet this need, but where are they? In 2025, subnetworks are emerging that revive the impetus of channel factories with some new details that vastly increase their potential. They are natively interoperable with Lightning and achieve greater scale by allowing a group of participants to open a shared multisig UTXO and create multiple bilateral channels, which reduces the number of on-chain transactions and improves capital efficiency. Achieving greater scale by reducing complexity, Ark and Spark perform the same function as traditional channel factories with new designs and additional capabilities based on shared UTXOs.  Channel Factories 101 Channel factories have been around since the inception of Lightning. A factory is a multiparty contract where multiple users (not just two, as in a Dryja-Poon channel) cooperatively lock funds in a single multisig UTXO. They can open, close and update channels off-chain without updating the blockchain for each operation. Only when participants leave or the factory dissolves is an on-chain transaction…
Share
BitcoinEthereumNews2025/09/18 00:09
XRP ETF’s bereiken belangrijke mijlpaal: $1 miljard aan netto instroom

XRP ETF’s bereiken belangrijke mijlpaal: $1 miljard aan netto instroom

De markt voor crypto-exchange-traded funds (ETF’s) heeft opnieuw een belangrijke mijlpaal bereikt. XRP ETF’s hebben gezamenlijk meer dan 1 miljard dollar aan netto
Share
Coinstats2025/12/16 21:01
XSGD And XUSD Launch On Solana’s Blazing Network In 2025

XSGD And XUSD Launch On Solana’s Blazing Network In 2025

The post XSGD And XUSD Launch On Solana’s Blazing Network In 2025 appeared on BitcoinEthereumNews.com. StraitsX Stablecoins Unleash Power: XSGD And XUSD Launch
Share
BitcoinEthereumNews2025/12/16 20:59