Afreximbank Strengthens Economic Ties with $5 Billion Financing Commitment in The Bahamas

African Export-Import Bank (Afreximbank) conducted a high-level roadshow in Nassau, The Bahamas, on May 29, aimed at enhancing collaboration with key stakeholders across government, private sector, and financial institutions. This initiative is part of Afreximbank’s broader strategy to bolster trade, investment, and economic cooperation between Africa and the Caribbean.

Roadshow Highlights and Objectives

The event, themed “Investing in progress through the implementation of the Afreximbank mandate in The Bahamas,” focused on building upon existing achievements between the Bank and The Bahamas. It sought to identify new opportunities for shared prosperity in the region.

Afreximbank’s Board of Directors recently approved a financing facility of up to $5 billion for the Caribbean, which includes The Bahamas. This approval underscores the Bank’s commitment to advancing the Global Africa agenda by enhancing commercial and financial ties between Africa and the Caribbean.

Government Support and Economic Implications

The roadshow was officiated by the Honourable Philip Davis, Prime Minister of The Bahamas, and drew significant participation from the local business community. The event provided a platform for Afreximbank to present its array of financing, advisory, and trade facilitation solutions tailored for Bahamian businesses and institutions.

The Prime Minister emphasized the importance of economic growth translating into broader participation among Bahamians. He stated that strengthening access to capital through institutions like Afreximbank is crucial for ongoing efforts to foster economic development. He also highlighted the significance of regional and international cooperation during uncertain economic times.

Afreximbank’s Commitment to the Caribbean

In his remarks, Mr. Ihejirika noted that Afreximbank has shown a strong commitment to economic development in the CARICOM region, particularly in The Bahamas. The Bank has facilitated approximately $140 million in infrastructure financing through Public-Private Partnership (PPP) arrangements and has extended $30 million in support to the small and medium-sized enterprise (SME) sector. These investments align with Afreximbank’s mandate to drive sustainable growth and enhance economic resilience in the region.

Notable Attendees and Industry Impact

The event featured several prominent speakers, including Honourable Michael B. Halkitis, Minister of Finance, and Honourable Ginger M. Moxey, Minister of Grand Bahama. Other attendees included Mr. Atario Mitchell, President of the Bahamas Stripping Group of Companies, and Mr. Kino Simmons, Managing Director of CAT Island Development Company.

Afreximbank’s initiatives are expected to have a significant impact on the Caribbean’s economic landscape, fostering stronger institutional partnerships and enhancing opportunities for local businesses.

About Afreximbank

Afreximbank is a Pan-African multilateral financial institution dedicated to financing and promoting intra- and extra-African trade. With over 30 years of experience, the Bank has developed innovative financing structures that support the transformation of Africa’s trade landscape, facilitating industrialization and boosting economic growth.

Afreximbank is a staunch supporter of the African Continental Free Trade Agreement (AfCFTA) and has launched the Pan-African Payment and Settlement System (PAPSS), which has been adopted by the African Union as the primary platform for implementing the AfCFTA. The Bank has established a $10 billion Adjustment Fund to assist countries in effectively participating in the AfCFTA.

As of December 2024, Afreximbank’s total assets and contingencies exceeded $40.1 billion, with shareholder funds amounting to $7.2 billion. The institution holds investment-grade ratings from various credit rating agencies, including GCR, Moody’s, CCXI, and JCR.

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Published on 2026-06-01 21:33:00 • By the Editorial Desk