Africa and Caribbean Deepen Economic Ties with Multi-Million Dollar Commitments.

Tuesday 29th July 2025

By inAfrika Reporter

The opening day of the AfriCaribbean Trade and Investment Forum (ACTIF2025) in St. George’s, Grenada brought together African and Caribbean leaders around a shared goal economic transformation. Over US$290 million worth of deals were signed, focused on infrastructure, education, tourism, and trade. The forum opened under the theme “Resilience and Transformation,” setting a tone of urgency and ambition.

Outgoing Afreximbank President Professor Benedict Oramah delivered a powerful keynote address, highlighting the transition from rhetoric to concrete results. He emphasized that 11 CARICOM nations had ratified the Partnership Agreement, giving Afreximbank a legal basis to support regional economies.

Oramah outlined a range of initiatives designed to institutionalize Africa-Caribbean cooperation. These include feasibility studies for a regional EXIM Bank co-developed with the CARICOM Secretariat, the launch of a $250 million Growth, Resilience and Sustainability Fund, and the roll-out of the Caribbean Payment and Settlement System (CAPSS). The CAPSS aims to replicate Africa’s PAPSS model and will enable local currency transactions across the Caribbean in real time.

Investments in the cultural and tech sectors also took center stage. Afreximbank pledged $24 million for a film production hub in the OECS and announced a partnership with the University of the West Indies to launch an artificial intelligence innovation center.

The forum was also marked by the announcement of Oramah’s successor, Dr. George Elombi. In a heartfelt moment, Oramah called for the creation of a Global Africa Commission supported by Afreximbank, the African Union, and CARICOM to carry forward the continent’s long-term development vision. He urged a shift in mindset, stating that Africa should no longer place itself last.

Grenada’s Prime Minister Dickon Mitchell paid tribute to Oramah’s legacy and proposed awarding him the region’s highest honor. He emphasized the importance of acting on commitments rather than issuing declarations. His reflections on a young volunteer’s question brought the message home the decisions made at the forum would define the economic future of their regions.

Notable deals signed included a $50 million education facility in Saint Kitts, a $100 million road infrastructure fund in The Bahamas, and a $61.25 million hotel financing in Barbados. These agreements show a clear movement from vision to implementation.

More than 1,700 people registered to attend ACTIF2025, underscoring the growing interest in AfriCaribbean cooperation. As the event continues, the focus remains firmly on action and unity.