Africa and Caribbean Strengthen Economic Alliance at Afreximbank Annual Meetings in Abuja
At the 2025 Afreximbank Annual Meetings (AAM2025) in Abuja, a landmark plenary session titled “Leveraging a Common Heritage: The Afreximbank Caribbean Initiative” brought together key leaders and stakeholders from Africa and the Caribbean to explore how shared history can be transformed into a powerful engine for economic cooperation and prosperity.
The session, which served as a critical moment in the ongoing efforts to build a unified Global Africa, emphasized the deep cultural, historical, and economic ties binding the two regions. With a growing momentum behind the Africa-Caribbean Trade and Investment Forum (ACTIF), set to return in July 2025 in Grenada, speakers at the event highlighted the importance of turning solidarity into strategic action. The Most Honourable P.J. Patterson, Former Prime Minister of Jamaica, opened the session with a compelling keynote address that underscored the enduring connections between Africa and its Caribbean diaspora and the importance of collective economic ambition. The event was moderated by Mr. Michael Sudarkasa, Chairman of the Africa Business Group.
The panel included a distinguished lineup of voices shaping the future of interregional cooperation: Hon. Dr. Terrance Drew, Prime Minister of Saint Kitts and Nevis; H.E. Selma Malika Haddadi, Deputy Chairperson of the African Union Commission; Mr. Adewale Tinubu, Group CEO of Oando PLC; H.E. Ambassador Martin Kimani, CEO of The Africa Center in New York; H.E. Rodinald Soomer, CEO of the CARICOM Development Fund; and Sen. The Hon. Claudette Joseph, Attorney General and Minister for Legal Affairs, Labour & Consumer Affairs of Grenada.
Afreximbank’s commitment to fostering economic collaboration was central to the discussion. The bank announced a project pipeline valued at US$2.5 billion and an investment pipeline of US$1.5 billion to support development opportunities across Africa and the Caribbean. This commitment marks a bold step in mobilizing capital through innovative partnerships between regional development funds, impact investors, and Afreximbank. Participants agreed that mechanisms such as the MANSA platform and the Pan-African Payment and Settlement System, now being replicated in the Caribbean, will play a crucial role in enabling seamless cross-border trade and investment.
Sen. Claudette Joseph hailed Afreximbank as the first corporate Pan-Africanist, noting that 12 out of 15 CARICOM nations have joined its partnership in just two years. Prime Minister Terrance Drew described the initiative as a lasting legacy of current leadership, emphasizing the need to sustain the conversation beyond the forum in Abuja and carry the momentum forward to ACTIF 2025 in Grenada. Adewale Tinubu stressed the importance of organization, political will, and economic execution, stating that belief in a shared goal must precede implementation. Ambassador Martin Kimani reminded attendees that building the initiative must go beyond government-to-government engagement and be rooted in human connection. H.E. Rodinald Soomer noted the potential of leveraging technology and tourism networks to drive demand and boost trade across the regions.
As preparations continue for ACTIF 2025 scheduled for July 28–29 in Grenada, the message from AAM2025 was clear: Africa and the Caribbean are not merely reflecting on a common past, they are co-creating a shared economic future. Through visionary leadership, institutional alignment, and strategic investments, both regions are charting a new path grounded in resilience, relevance, and real results.
