African Export-Import Bank (Afreximbank) has approved and disbursed a US$100 million Receivables Discounting Facility to Bahamas Striping Group of Companies Ltd (BSGC), marking a major leap forward for transport infrastructure across The Bahamas.
The financing will support the rehabilitation and construction of more than 200 miles of roads, strengthening national connectivity while improving safety, trade flows, and tourism logistics across the island nation.
Importantly, the funding was issued under a Framework Agreement signed with the Government of The Bahamas during the 48th Conference of Heads of Government of CARICOM in Bridgetown, Barbados, held in 2025. As a result, BSGC can now accelerate execution on government-approved infrastructure projects nationwide.
Accelerating Road Development Across Multiple Islands
Through this facility, Afreximbank is enabling BSGC to access advance payments on completed and certified works. These include asphalt paving, road striping, safety upgrades, and routine maintenance across several Bahamian islands.
Consequently, project timelines are expected to shorten, while contractors and suppliers receive faster compensation. This structure also strengthens local supply chains and improves service delivery standards.
Speaking on the transaction, Okechukwu Ihejirika, Acting Chief Operating Officer of Afreximbank for CARICOM, described the deal as a strategic investment in Global Africa partnerships.
“This facility reflects our unwavering commitment to trade-enabling infrastructure across the Global Africa space,” Ihejirika said. “It also reinforces our mandate to connect Africa and CARICOM through sustainable development initiatives.”
Strengthening Africa–Caribbean Economic Cooperation
Furthermore, Ihejirika emphasized that the deal builds directly on partnerships formed at Afreximbank’s 2024 Annual Meetings and the AfriCaribbean Trade and Investment Forum in Nassau.
By supporting modern road networks, Afreximbank is laying the groundwork for long-term economic competitiveness, particularly in tourism, logistics, and regional trade.
BSGC Welcomes Strategic Financial Support
For Bahamas Striping Group, the facility represents a game-changing financing solution.
Dominic Sturrup, Executive Chairman of BSGC, praised Afreximbank’s role throughout the process.
“We appreciate Afreximbank’s support at every stage,” Sturrup said. “This transaction strengthens our capacity to deliver major projects, support subcontractors, and scale our operations across the islands.”
In addition, Atario Mitchell, President of BSGC, highlighted the facility’s immediate impact on local businesses.
“This funding allows us to pay workers on time, secure materials faster, and plan projects more efficiently,” Mitchell explained. “As a result, we can execute reliably across multiple islands.”
Driving Jobs, Tourism, and Community Growth
Beyond infrastructure, the project is expected to generate employment opportunities, empower local contractors, and enhance access to communities that depend on reliable road networks.
Improved roads will also support tourism growth, facilitate trade logistics, and reinforce The Bahamas’ position as a competitive regional hub.
Founded in 2010, BSGC is a 100% Bahamian-owned company that has completed more than 200 projects across Nassau, Exuma, and Eleuthera. The company currently supports over 300 jobs, including subcontractors.
