The upcoming Afreximbank Africa Trade Center in Bridgetown, Barbados, is being positioned as a vital engine for advancing economic cooperation between Africa and the Caribbean. During the opening session of the AfriCaribbean Trade and Investment Forum (ACTIF) in Grenada on Monday, regional leaders emphasized the center’s strategic importance to fostering deeper trade, investment, and innovation ties across both regions.
Professor Benedict Oramah, the outgoing President of the African Export-Import Bank (Afreximbank), described the Bridgetown facility as a flagship initiative aimed at transforming Africa–Caribbean business collaboration. “With three towers, this center will host innovation labs, digital trade platforms, SME incubation, a world-class hotel, and conferencing and training facilities,” said Professor Oramah. He highlighted that the center is designed to bridge critical information and financing gaps that currently hinder economic engagement between the two regions.
The center is expected to support a growing pipeline of cross-border deals and serve as a launchpad for platforms that facilitate seamless trade and financial transactions for regional enterprises.
CARICOM Secretary-General Dr Carla Barnett also underscored the center’s significance in enhancing economic integration. She confirmed that efforts are underway to finalize a new Memorandum of Understanding between CARICOM and Afreximbank, aimed at improving trade logistics, connectivity, and regional investment.
Dr Barnett added that the Bridgetown hub would also contribute to more inclusive economic development, with a particular focus on supporting enterprises led by women and youth. She further announced that CARICOM and Afreximbank are jointly working on a Green, Resilient and Sustainable Facility to finance environmentally responsible growth across the region.
The trade center, which officially broke ground earlier this year at Jemmotts Lane in St Michael, marks Afreximbank’s first facility of its kind outside Africa. In addition to housing innovation and business services, it will serve as the headquarters for the bank’s regional office, which is already operational in Barbados.
With 13 CARICOM nations having signed the partnership agreement with Afreximbank, and 11 of those having ratified it, Professor Oramah affirmed that Barbados is well-positioned to remain at the forefront of the expanding Africa–Caribbean trade and development agenda.
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