Faith Nyasuguta
In preparation for the 2024 Afreximbank Annual Meetings (#AAM2024), President Benedict Oramah set on an 8-day tour of the Caribbean, visiting 6 CARICOM Member States. His aim was to strengthen African-Caribbean ties and promote trade and investment under the notion of #GlobalAfrica.
During the tour, President Oramah engaged with the private sectors and several dignitaries, including Hon. Prime Ministers and the Secretary-General of CARICOM Secretariat. He emphasized Afreximbank’s commitment to CARICOM and discussed potential transactions totaling $2.4B. Of this amount, an initial $1.5B was allocated for key sectors such as hospitality, infrastructure, energy, creatives, and health.
Moreover, President Oramah personally invited CARICOM members to the upcoming annual meetings in Nassau, Bahamas, where the Government of the Commonwealth of The Bahamas and Afreximbank signed an agreement for The Bahamas to host the 31st Afreximbank Annual Meetings (AAM) and the third edition of the AfriCaribbean Trade and Investment Forum (ACTIF).
Expressing enthusiasm about this historic decision, President Oramah emphasized the positive outlook for both African and CARICOM countries, citing IMF forecasts that showcased growth potential. He highlighted the importance of strengthening ties between the two regions to accelerate growth and prosperity, especially amidst shifting global trade dynamics.
“Afreximbank’s historic decision to hold the 31st Afreximbank Annual Meetings in The Bahamas will be the first time it has been held in the Caribbean,” he said.
Given the challenges posed by neo-protectionism and the need for African countries to pursue self-determination within a global Africa framework, the theme for the 31st AAM and the 3rd ACTIF is ‘Owing Our Destiny: Economic Prosperity on the Platform of Global Africa.’ This theme reflects a broader discourse aimed at finding solutions to shared challenges and promoting growth, development, and prosperity across Africa and the Caribbean.
During the signing ceremony, The Honourable Philip Davis, K.C, Prime Minister of The Bahamas, reiterated the country’s commitment to leveraging shared history, identities, and cultures to foster greater trade, investment, and direct transport linkages. He emphasized the importance of speaking with a unified voice on global issues, including climate change, to enhance global influence.
The holding of the 31st Annual Meetings in the Caribbean alongside the ACTIF underscores the emergent opportunities for the AfriCaribbean regions in a global context. The three-day event will feature high-level discussions, seminars, and panel sessions focusing on addressing neo-protectionism and advancing self-determination within a global Africa framework.
The ACTIF, dedicated to AfriCaribbean trade and investment, will celebrate shared culture and aspirations, providing a platform to explore synergies and strengthen economic ties between Africa and the Caribbean.
The Afreximbank Annual Meetings in Nassau, Bahamas, offer a unique opportunity to foster collaboration, promote economic growth, and drive socio-economic development in both regions. By harnessing the potential of Global Africa , stakeholders aim to create a more prosperous future for Africa, the Caribbean, and the diaspora at large.
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