By Kurt Campbell
Kurt@newsroom.gy
In a landmark move to deepen trade ties between Africa and the Caribbean and support local content, the African Export-Import Bank (Afreximbank) hosted its first-ever Caribbean roadshow in Guyana on Wednesday, signalling a bold new chapter in economic collaboration across the Atlantic.
Held at the Marriott Hotel in Georgetown, the two-day event drew top government officials, business leaders, and trade experts from both regions. It followed through on a promise made in February by Afreximbank President Professor Benedict Oramah to launch a US$1 billion oil services financing facility in Guyana—aimed squarely at supporting local businesses participating in the oil and gas value chain.
The roadshow’s theme, “Empowering Local Content Participation for Sustainable Prosperity”, echoed both the Bank’s broader mandate and Guyana’s own ambitions to ensure its oil boom translates into long-term, inclusive economic growth.
“This is not just a promise, it’s something we mean to implement,” said Mr Okechukwu Iherjirika, Afreximbank’s Regional Chief Operating Officer for the Caribbean. “Sometimes, to attain greatness, you have to finance that greatness.”
Mr Iherjirika underscored the importance of ensuring that local businesses—not just international oil firms—benefit from Guyana’s vast oil wealth. “When the contracts go abroad because local firms lack financing, the development potential is lost. This facility aims to fix that.”
The facility builds on models already proven effective across Africa, particularly in oil-rich countries like Nigeria. The goal is to channel more oil-related contracts and revenues into the hands of domestic firms, generating jobs, tax revenue, and broader economic resilience.
Mr Okechukwu Iherjirika, Afreximbank’s Regional Chief Operating Officer for the Caribbean
Guyana’s Finance Minister, Dr Ashni Singh, hailed the initiative as both timely and transformational. “We’ve become an oil producer with the benefit of hindsight,” he said, referring to Guyana’s ability to learn from decades of global experience in resource management. “This facility directly supports our local content ambitions and helps us translate oil revenues into real, lasting prosperity.”
Dr Singh also reflected on Guyana’s broader relationship with Afreximbank, which began with a framework agreement in 2022 and has steadily grown. “I consider myself privileged to have engaged with Afreximbank from the beginning,” he said, adding that Guyana had already seen the benefits of the Bank’s trade platforms, project financing tools, and payment solutions.
Twelve Caribbean countries are now members of the Bank, reflecting Afreximbank’s expanding footprint in the region. Its Caribbean office, based in Bridgetown, Barbados, coordinates efforts to connect African capital and expertise with Caribbean markets.
Guyana’s Finance Minister, Dr Ashni Singh
According to Mr Iherjirika, this expansion is part of a deliberate strategy: “We’re not reinventing the wheel. We’re leveraging successful African models and applying them here. Guyana is ready.”
The Bank, headquartered in Cairo, Egypt, currently operates across 54 African nations and now maintains regional hubs in key locations including Zimbabwe, Nigeria, and Barbados.
With Guyana on an upward growth trajectory and Afreximbank’s capital and experience behind it, officials and stakeholders agreed the roadshow marked more than just a symbolic gesture.
“This is a practical step,” said Mr Iherjirika. “It’s about getting deals done. We’re here to listen, to engage, and to start implementation.”
As Guyana positions itself as a major player in the global energy landscape, the message from this week’s event was clear: African-Caribbean cooperation is no longer aspirational—it’s operational.
The post Afreximbank hosts roadshow in Guyana as it rolls out US$1 billion facility for locals appeared first on News Room Guyana.
