By Kurt Campbell
In a dynamic world shaped by economic uncertainty and rapid geopolitical shifts, few institutions have stepped up to the challenge of creating tangible cross-regional impact like the African Export-Import Bank (Afreximbank). At the heart of its vision lies a bold, transformative agenda—one that ties together Africa and the Caribbean in a shared journey of resilience, innovation, and sustainable development.
Afreximbank hosted its first-ever Caribbean roadshow in Georgetown, Guyana this week, a landmark event that brought together senior government officials, business leaders, trade experts, and financiers to explore new avenues for Afro-Caribbean economic integration.
Leading the delegation was Mr. Okechukwu Iherjirika, Afreximbank’s Regional Chief Operating Officer for the Caribbean, who outlined the bank’s mission, legacy, and commitment to building a robust trade and investment corridor between Africa and the Caribbean.
“For some of you, this may be your first time engaging with Afreximbank,” he began.
“We’ve been operational since 1993, born out of Africa’s need to solve structural financing challenges following the global debt crises of the 1980s.”
Mr Okechukwu Iherjirika, Afreximbank’s Regional Chief Operating Officer for the Caribbean
Iherjirika walked the audience through the bank’s origins, describing how the African Development Bank commissioned a study in the late 1980s to explore sustainable solutions for countries struggling with external debt.
“The conclusion was clear: Africa needed its own trade-focused development finance institution,” he said.
That vision led to the creation of Afreximbank in 1993, with headquarters in Cairo and branches across the continent. Today, it operates through a regional model with offices strategically positioned to cover all of Africa—and now, the Caribbean.
Why the Caribbean? Why Now?
Mr. Iherjirika emphasized that the Caribbean is not just a strategic extension of Africa’s economic geography but also a natural partner in development.
“We believe in South-South cooperation,” he said.
“We share historical, cultural, and even linguistic bonds. The tragedy is that we’ve been kept apart for so long.”
Twelve of the fifteen CARICOM member states have now signed the bank’s Partnership Agreement, and a regional office in Bridgetown, Barbados has been established to oversee operations in the Caribbean.
“Historically, we’ve had freedom fighters and cultural leaders—like Bob Marley—who called for unity between Africa and the Caribbean,” Iherjirika said.
“But until now, no institution has been truly empowered to turn those calls into action. That’s where Afreximbank comes in.”
Afreximbank operates under a four-pillar service structure:
Credit and Trade Finance – Offering financing instruments to support trade and investment flows.
Risk Mitigation – Providing guarantees to de-risk transactions and encourage investor confidence.
Advisory Services – Helping firms in emerging markets realize their potential with tailored financial advice.
Payment Support Systems – Bridging gaps left by global banks’ withdrawal from some markets due to compliance and de-risking pressures.
President Dr. Irfaan Ali at the 31st Afreximbank’s annual meetings in Nassau Bahamas. Photo: Office of the President/ June 14, 2024.
Afreximbank’s entry into the Caribbean also coincides with the bank’s ongoing strategy, IMPACT 2026: Africa Transformed, which centers around boosting intra-African trade, developing industrial capacity, and fostering Afro-Caribbean collaboration under the African Continental Free Trade Area (AfCFTA).
Iherjirika stressed that the AfCFTA isn’t limited to African borders—it extends its vision to the Caribbean.
“There’s now a formal understanding between the African Union and the CARICOM Secretariat. This means CARICOM is recognized as a sister region to Africa under AfCFTA,” he explained.
“When we talk about building the largest single market in the world—1.2 billion people in Africa, combined with the Caribbean—it becomes a powerful engine for economic transformation.”
The opportunity is vast: Guyana has oil and gas potential, Nigeria has refining capacity, and Trinidad has technical expertise. “The challenge,” said Iherjirika, “is connectivity. Even for us traveling from Abuja to Georgetown, the logistical hurdles were immense. Imagine the barriers for trade.”
President Dr. Irfaan Ali greets Professor Benedict O. Oramah, President and Chairman of Afreximbank
Beyond trade, Afreximbank is also championing local industrialization. “Too often, African and Caribbean countries export raw commodities and import finished goods,” he said. “That has to change.”
He pointed to successful industrial parks in Gabon and Togo, where wood products are now processed locally, dramatically increasing value retention.
“We believe this model can be replicated in the Caribbean,” he added.
Mr. Iherjirika called on Guyanese stakeholders—and Caribbean leaders more broadly—to take advantage of Afreximbank’s presence and offerings.
“The vision of Africa and the Caribbean uniting is no longer a dream—it’s a bankable opportunity,” he said.
What are the offerings? They are extensive:
At the opening of the 2025 Guyana Energy Conference and Supply Chain Expo on Tuesday, Professor Benedict O. Oramah, President and Chairman of Afreximbank, delivered a stirring call for increased local participation in Guyana’s burgeoning oil sector.
In the Caribbean and Guyana, Afreximbank is offering tailored financial solutions aimed at boosting trade, investment, and industrial development.
These include trade and project financing, guarantees to de-risk investments, advisory services to support public and private sector growth, and innovative payment systems to address correspondent banking challenges.
Through its regional office in Barbados, the Bank is working closely with CARICOM governments and businesses to deliver structured financing for critical sectors such as energy, infrastructure, manufacturing, and food security.
The roadshow marks a pivotal moment in South-South cooperation, offering a pathway not only for trade, but for shared prosperity, resilience, and geopolitical autonomy. With institutional commitment, political will, and strategic investment, the Afro-Caribbean partnership could redefine global economic narratives in the decades to come.
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