A formal agreement for the acquisition of land for the New African Capital Trade Administrative Center (NAC-ATC) was signed on August 31 by the African Export-Import Bank (Afreximbank).

The New African Capital Trade Administrative Center (NAC-ATC) will house the Bank's headquarters, as well as other businesses, facilities and support entities, in the new administrative capital of Egypt, Cairo. The agreement signed by Afreximbank provides for a complex including a conference center, a hotel, an exhibition center, an innovation hub and retail businesses. The NAC-ATC is being developed as an “iconic, modern, futuristic, iconic, mixed-use retail complex with a broad character and intra-African commercial appeal” and is expected to position Egypt as the gateway for trade and investment

According to Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, the NAC-ATC was being built to serve as the headquarters for the network of shopping centers established by Afreximbank across Africa to cover the continent's commercial capitals.