Jamaica has officially acceded to the Establishment Agreement of the African Export-Import Bank (Afreximbank), becoming the 13th Caribbean Community (CARICOM) Member State to join the African multilateral financial institution. The signing took place on the sidelines of the 49th Regular Meeting of the Conference of Heads of Government of the Caribbean Community, marking a major milestone in the continent-diaspora economic partnership known as Global Africa.
Jamaica’s accession unlocks an additional US$1.5 billion in financing for Jamaica and other Caribbean nations, bringing Afreximbank’s total approved facility for the region to US$3 billion, contingent on full CARICOM membership.
“We are thrilled to welcome Jamaica into the Afreximbank family. Jamaica’s accession to the Partnership Agreement marks a pivotal step towards realising the vision of our forefathers, a united and prosperous Global Africa, built on a platform of South-South cooperation. The Partnership Agreement unlocks Afreximbank’s financing solutions, trade facilitation tools, and investment opportunities, empowering Jamaican businesses to access African markets while fostering reciprocal trade,” said Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.
Jamaica’s Prime Minister, Dr. The Most Honourable Andrew Holness, hailed the agreement as both strategic and transformative.
“This is a significant and strategic step that strengthens Jamaica’s ability to access increased trade financing, investment support, and technical assistance. The agreement creates real opportunities for Jamaica to benefit from Afreximbank’s expanding suite of financial instruments, including trade guarantees, project financing, and capital support tailored to the needs of developing economies. It positions Jamaica to tap into new sources of funding for critical sectors such as manufacturing, logistics, agriculture, and the creative industries, while laying the foundation for deeper collaboration between African and Caribbean businesses.”
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The signing builds on momentum established during the inaugural AfriCaribbean Trade and Investment Forum (ACTIF) in Barbados in 2022. Since then, successive ACTIFs have been held in Guyana (2023) and The Bahamas (2024), with the next forum set for July 28–29, 2025, in Grenada.
Afreximbank has steadily expanded its presence in the Caribbean since opening its regional office, approving over US$700 million in financing across key sectors such as energy, tourism, education, and SME development in countries including Barbados, St. Lucia, Suriname, Grenada, and The Bahamas. The bank also extended over US$4.3 million in pandemic-related assistance through the Africa Vaccine Acquisition Task Team (AVATT) to The Bahamas, Antigua & Barbuda, and Trinidad & Tobago. Jamaica’s inclusion strengthens the growing financial bridge between Africa and the Caribbean and signals increased momentum behind south-south cooperation aimed at reshaping global trade and development flows.
