Afreximbank Breaks Ground on $180M African Trade Centre in Barbados, Marking New Era in Afro-Caribbean Relations

Prof. Benedict Oramah, President and Chairman of the Board of Afreximbank, praised the government and people of Barbados for their warm hospitality and bold vision.

In a landmark moment for Afro-Caribbean relations and global trade development, the African Export-Import Bank (Afreximbank), Africa’s premier multilateral financial institution, broke ground on its first-ever Afreximbank African Trade Centre (AATC) in the Caribbean. The $180 million investment in Bridgetown, Barbados, marks the first AATC to be established outside of Africa, symbolizing a historic expansion of African trade influence into the Caribbean and reinforcing deepening ties between Africa and the CARICOM region.

The groundbreaking ceremony, held at the 6.4-acre Jemmotts Lane site—formerly the headquarters of Barbados’ Ministry of Health—signals the commencement of construction on a cutting-edge commercial complex that will serve as a trade and investment hub linking Africa with the Caribbean. The site carries historical weight, as it once housed Barbados’ first hospital built in 1844 to serve emancipated slaves.

Upon completion in approximately 30 months, the Bridgetown AATC will house Afreximbank’s regional CARICOM office, a high-tech conference facility, a Digital Trade Gateway, a technology and SME incubator, a 100-room business hotel, and a regional trade and exhibition centre. The facility will also feature office spaces for financial and policy institutions, fostering collaboration among local, regional, and international actors. It is expected to generate 1,000 jobs during construction and 300 permanent jobs post-completion, significantly boosting the Barbadian and regional economy.

A Symbol of Economic and Historical Reconnection

Delivering the keynote address at the event, The Honourable Mia Amor Mottley, Prime Minister of Barbados and current Chair of CARICOM, emphasized the historical significance of the site and the symbolic reclamation of Barbados’ "Atlantic Destiny."

“My government stands proud to welcome Afreximbank not merely as a tenant, but as an institution planting roots in this land,” she declared. “Barbados, once the first hub of African slaves outside the continent, is now home to the first African Trade Centre outside Africa. In doing so, we are rewriting the narrative and reclaiming our shared future.”

PM Mottley officially handed over the land to Afreximbank, reaffirming her administration’s commitment to facilitating investment and creating opportunities for economic development in Barbados and the wider region.

The Vision of Global Africa

Prof. Benedict Oramah, President and Chairman of the Board of Afreximbank, praised the government and people of Barbados for their warm hospitality and bold vision.

“This project represents more than bricks and mortar,” Prof. Oramah stated. “It is a symbol of unity, opportunity, and economic reinvention for both Africa and the Caribbean. The AATC in Barbados will serve as the gateway for Afri-Caribbean trade and investment, acting as a launchpad for deeper collaboration and sustainable development.”

He emphasized that the AATC will enable seamless trade flows, stimulate innovation through its technology incubator, and create substantial economic impact by supporting over 50 SMEs during the construction phase. Once completed, it will provide a platform for Caribbean businesses to engage with African counterparts in finance, technology, manufacturing, tourism, and services.

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Building a Network of Trade Hubs

The AATC concept was approved by Afreximbank’s Board in 2018 to establish trade facilitation hubs across key commercial cities in Africa and beyond. The goal is to provide integrated trade services, finance, and capacity-building tools that promote intra-African and intercontinental trade.

In addition to Bridgetown, other selected AATC cities include:

• Abuja (Nigeria)

• Cairo (Egypt)

• Kampala (Uganda)

• Abidjan (Côte d’Ivoire)

• Harare (Zimbabwe)

• Yaoundé (Cameroon)

• Kigali (Rwanda)

• Tunis (Tunisia)

These hubs are designed to connect key players—governments, businesses, investors, chambers of commerce, and trade institutions—across the Global South, forging new pathways for commerce and cooperation.

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Investing in the Future of CARICOM

Afreximbank’s deepening commitment to CARICOM is evident in its US$2.5 billion credit facility extended to the region. This funding supports infrastructure, energy, tourism, and trade across Caribbean nations. In 2024 alone, the Bank provided US$25 million to Barbados for the refurbishment of its Cricket World Cup sports complex, and currently has US$500 million worth of investment deals in progress across the region.

Afreximbank’s involvement comes at a pivotal time, as recent oil discoveries in Guyana and Suriname are expected to redefine the region’s economic future, and create new demand for trade finance, logistics, and development services.

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A Regional Call to Action

Hon. Dickon Mitchell, Prime Minister of Grenada, applauded the progress being made and announced that Grenada will host the Afreximbank Trade and Investment Forum on July 28–29, 2025.

“The seeds planted in Barbados are already bearing fruit across CARICOM,” said PM Mitchell. “The upcoming forum in Grenada will further galvanize opportunities for trade, movement of people, and investment between our region and the African continent.”

Also in attendance were Dr. Carla Barnett, Secretary General of CARICOM; senior executives and board members of Afreximbank; and prominent regional and international business leaders.

Looking Ahead

The Bridgetown AATC stands as a powerful symbol of South-South cooperation, economic renaissance, and historical justice. As construction begins, the facility promises to become a beacon for trade, innovation, and partnership between Africa and the Caribbean.

With bold leadership from both sides of the Atlantic and sustained investment in integrated trade infrastructure, the Global Africa vision—championed by Afreximbank—is poised to reshape the commercial and cultural landscape of two historically linked regions.f