African Export-Import Bank (Afreximbank) (www.Afreximbank.com) held a high-level roadshow in Nassau, The Bahamas, on 29 May, aimed at deepening engagement with key stakeholders and businesses across the government, the private sector, and financial institutions across the country.
Organised as part of the Bank’s broad strategy to strengthen trade, investment, and economic cooperation between Africa and the Caribbean, the roadshow which took place under the theme “Investing in progress through the implementation of the Afreximbank mandate in The Bahamas” built on the current achievements between the Bank and The Bahamas to explore more opportunities for shared prosperity.
The roadshow follows an approval by the Board of Directors of Afreximbank of a financing facility of up to US$ 5-billion for the Caribbean region, including The Bahamas. This approval signals Afreximbank’s commitment to advancing the objectives of the Global Africa agenda by strengthening commercial and financial ties between Africa and the Caribbean.
The event was officiated by the Honourable Philip Davis, Prime Minister of The Bahamas and well attended by the business community in The Bahamas, provided a platform for Afreximbank to showcase its suite of financing, advisory and trade facilitation solutions available to businesses and institutions in The Bahamas and to foster stronger institutional partnerships.
Speaking at the roadshow, the Prime Minister said: “Economic growth must translate into broader economic participation, ensuring that more Bahamians have the chance to build businesses, create jobs, and share in the country’s progress. We have made some progress in this area, but continuing to strengthen access to capital through institutions such as the Afreximbank is an important part of our ongoing efforts.”
“This roadshow also reminds us of the importance of regional and international cooperation at a time when many economies are navigating uncertainty,” he added.
While making his opening remarks, Mr. Ihejirika said: “In less than three years of operations within the CARICOM, Afreximbank has demonstrated a strong commitment to economic development in the region, especially in The Bahamas by supporting key projects across critical sectors. To date, the Bank has facilitated approximately USD 140 million in infrastructure financing through Public-Private Partnership (PPP) arrangements, while also extending USD 30 million in support to the small and medium-sized enterprise (SME) sector. These investments underscore Afreximbank’s mandate to drive sustainable growth, enhance economic resilience, and expand opportunities for businesses and communities throughout The Bahamas.”
Other notable speakers who attended the event include Honourable Michael B. Halkitis, Minister of Finance and Honourable Ginger M. Moxey, Minister of Grand Bahama, Mr. Atario Mitchell, President, Bahamas Stripping Group of Companies and Mr. Kino Simmons, Managing Director CAT Island Development Company.
Distributed by APO Group on behalf of Afreximbank.
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Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) at “Stable”, Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), and Japan Credit Rating Agency (JCR) (A-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.Afreximbank.com
