In a historic milestone for Pan-African economic cooperation and Caribbean development, the African Export-Import Bank (Afreximbank) has officially broken ground on its first African Trade Centre (AATC) outside of Africa—right in the heart of Bridgetown, Barbados.
The landmark US$180 million investment signals a deepening of trade and economic ties between Africa and the Caribbean Community (CARICOM), as Afreximbank extends its Global Africa strategy beyond continental borders.
A New Era of South-South Trade and Investment
The groundbreaking event was graced by Hon. Mia Amor Mottley, Prime Minister of Barbados and current Chair of CARICOM; Dr. Carla Barnett, CARICOM Secretary-General; Prof. Benedict Oramah, President and Chairman of Afreximbank; and Hon. Dickon Mitchell, Prime Minister of Grenada—alongside dignitaries, Afreximbank executives, and regional stakeholders.
The AATC will be constructed on 6.4 acres of land generously provided by the Barbados government at Jemmotts Lane—formerly home to the island’s Ministry of Health and the site of Barbados’ first hospital for emancipated slaves in 1844. This symbolism was not lost on Prime Minister Mottley, who declared:
“Just as Barbados was the first slave hub outside Africa, today it becomes the first home of the AATC outside Africa. We are reclaiming our Atlantic destiny.”
What the Barbados AATC Will Offer
The multi-functional complex, set to be completed in approximately 30 months, will feature:
Afreximbank’s CARICOM regional office
A digital trade gateway and SME incubator
Conference facilities and a trade exhibition centre
A 100-room hotel and modern office spaces
Lettable commercial units for African and Caribbean businesses
The facility is expected to create over 1,000 jobs during construction and provide 300 permanent positions upon completion. Additionally, 50 SMEs are expected to benefit from procurement opportunities during the development phase.
Connecting Global Africa Through Trade Hubs
The Barbados AATC is part of a visionary network of trade facilitation hubs planned by Afreximbank across key African cities and now, for the first time, in the Caribbean. Other confirmed sites include:
Abuja (Nigeria)
Harare (Zimbabwe)
Kampala (Uganda)
Cairo (Egypt)
Abidjan (Côte d’Ivoire)
Yaoundé (Cameroon)
Kigali (Rwanda)
Tunis (Tunisia)
Each AATC will serve as a platform for governments, businesses, chambers of commerce, and financial institutions to collaborate, foster trade, and stimulate investment between Africa and the Global South.
Afreximbank’s Commitment to CARICOM
Prof. Benedict Oramah, Afreximbank President, lauded Barbados’ role in facilitating this historic move:
“This AATC is a gateway for Afri-Caribbean trade and investments—a home for African businesses in the Caribbean and vice versa. It embodies our commitment to unity, prosperity, and shared heritage.”
The Bank has extended US$2.5 billion in credit lines to CARICOM, supporting regional infrastructure, development and trade. Notably, Afreximbank also backed Barbados’ Cricket World Cup refurbishment with a US$25 million facility in 2024 and has a US$500 million deal pipeline for upcoming projects.
Looking Ahead: Grenada to Host Afreximbank Forum
In a show of growing momentum, Grenadian Prime Minister Dickon Mitchell announced that Grenada will host the 2025 Afreximbank Trade and Investment Forum in July, continuing the push for stronger trade, investment, and mobility between Africa and the Caribbean.
“In just a short time, the Caribbean has felt the real impact of Afreximbank’s presence. Grenada is ready to carry the torch forward.”
An Emblem of Historical Restoration and Future Prosperity
Dr. Carla Barnett, CARICOM Secretary-General, hailed the project as a cornerstone for regional integration, echoing sentiments of shared history and forward-looking economic transformation.
“This is more than a building—it is a beacon of our collective vision for economic sovereignty, intra-regional trade, and African-Caribbean solidarity.”
A Bold Statement of Unity
As the Barbados AATC rises on soil once tied to colonial exploitation, it now becomes a monument of economic resilience, Pan-Africanism, and shared destiny. With this flagship project, Afreximbank is not only opening doors for trade but also rewriting the narrative of Africa-Caribbean cooperation in a 21st-century context.
As Prof. Oramah stated, “We are not just building a trade centre—we are building a bridge across the Atlantic, grounded in our common history and united future.”
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Source: Afreximbank
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