By Emmanuel Nduka
Afreximbank has made history by breaking ground on its first-ever African Trade Centre (AATC) outside of Africa, a monumental $180 million project in Bridgetown, Barbados.
This new center, part of the bank’s mission to boost trade between Africa, the Caribbean, and the Global South, will serve as a vital link for economic cooperation.
Barbados, a symbolic location with deep historical ties to Africa, donated the land for the center, which will house Afreximbank’s CARICOM office, conference facilities, a technology and SME incubator, and a 100-room hotel.
The project is expected to create over 1,000 direct and indirect jobs, in addition to supporting local businesses and suppliers.
Prime Minister Mia Mottley celebrated the project’s significance, drawing a parallel between Barbados’ role in the transatlantic slave trade and the new trade center, which aims to heal old wounds and foster shared prosperity between the two regions.
Afreximbank President Benedict Oramah highlighted the center’s role in expanding trade and investment in the Caribbean, with plans to complete the project within 30 months.
He said the initiative is part of a broader strategy to create trade hubs across key commercial cities in Africa and the Caribbean, including Abuja, Harare, Cairo, and Kigali.
With $2.5 billion in credit lines extended to CARICOM nations, Afreximbank is deepening its commitment to the region, setting the stage for a new era of collaboration and growth between Africa and the Caribbean.
