In a transformative boost to the Caribbean’s transport network, the African Export-Import Bank, Afreximbank, has announced the disbursement of a 100-million-US-dollar Receivables Discounting Facility to Bahamas Striping Group of Companies Limited, BSGC.
In a major boost to the Caribbean’s transport network, the African Export-Import Bank, Afreximbank, has approved the disbursement of a 100-million-US-dollar Receivables Discounting Facility to Bahamas Striping Group of Companies Limited, BSGC. The funding will support the rehabilitation and construction of more than 200 miles of critical road infrastructure across The Bahamas, strengthening connectivity and improving transportation efficiency nationwide. The project is expected to play a key role in enhancing road safety, facilitating trade, and supporting economic activity, particularly in tourism-dependent communities where reliable transport infrastructure is essential.
“This facility represents an innovative approach to structured finance in cross-regional partnerships and aligns with our mandate to foster a connected Global Africa that encompasses CARICOM. By enabling these extensive road rehabilitation works, we are driving sustainable development and enhanced economic opportunities,”
Okechukwu Ihejirika, Acting COO Afreximbank, CARICOM – Nigeria
Beyond construction, the project is expected to generate strong economic impact. Improved road networks will reduce transportation costs, facilitate faster movement of goods and services, and enhance access to markets, particularly for tourism, commerce, and logistics sectors that are vital to the Bahamian economy.
At the present time, we are experiencing some challenges because we have to adjust to a lot of changing global regulatory standards and expectations. But what has been very important for us as an international financial centre, first of all, is having a robust regulatory infrastructure that evolved in step with, with, with global standards and expectations. That has been very important. We’ve also continued to have and build up capacity in terms of the supervision and regulation of the financial sector.
John Rolle, Governor,Central Bank – Bahamas
This investment highlights Afreximbank’s expanding role in South-South cooperation, extending its development financing beyond Africa to support strategic infrastructure projects in the Caribbean. By strengthening mobility and economic integration, the project positions The Bahamas for greater competitiveness, resilience, and inclusive growth.
