Zimbabwe to host Southern Africa’s trade centre


City of Harare, Zimbabwe

from WELLINGTON TONI in Harare, Zimbabwe
HARARE, (CAJ News) – THE construction of the Southern African Regional Office and Trade Centre in Zimbabwe, by the African Export-Import Bank (Afreximbank), is a major boost for the country’s construction and tourism sectors.

Numerous jobs will also be created during the construction of the 12000 square metre facility in the suburb of Newlands in the capital Harare.

In addition, the bank, headquartered in Cairo, Egypt will also construct a four-star hotel and innovation hub meant to offer a one-stop shop for trade facilitation and information services.

The bank has flighted a tender inviting local developers, particularly with US$50 million projects under their belt in the last five years.

According to a statement made available by the financial institution, the entire project will total 30 000 square metre will include the building and basement but exclude the external and iconic mixed-use business complex consisting of Corporate Offices, Conference and Exhibition Centre, Innovation and Incubation hub, Knowledge Centre and a 120 key four-star hotel.

“It shall provide an integrated one-stop shop for trade facilitation and information services and trade finance and offer a range of facilities which will be housed in two 8 and 9 storey tower blocks,” the bank stated.

The hotel would be a major boost to Harare, which often lacks world-class accommodation.

Existing hotels include Cresta Lodge, Cresta Oasis, Jameson Hotel, Meikles Hotel, Monomotapa Hotel and Rainbow Towers.

Hotel occupancy has lowered since international flights ground to halt as travel restrictions were imposed after the outbreak of the coronavirus (COOVID-19) global pandemic, first discovered in Wuhan, China in December 2019.

Afreximbank is a Pan-African multilateral financial institution established to provide financing solutions and advisory services for the expansion, diversification, promotion and development of intra and extra African trade.

– CAJ News

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