Afreximbank courts Jamaica with US$5b financing push

The African Export–Import Bank (Afreximbank) is stepping up its Caribbean ambitions, courting Jamaica as part of a broader push to deepen trade and investment ties with Africa. 

At an inaugural roadshow in Kingston on Tuesday, Afreximbank pitched access to a US$5 billion financing facility aimed at fostering industrialisation and cross-border commerce. The event brought together public- and private-sector players, as the bank outlined its growing suite of financial tools. 

The push builds on Jamaica’s accession to Afreximbank’s partnership agreement in July 2025, which brought the country into the bank’s expanding ‘Global Africa’ network. The bank’s management sees Jamaica as a strategic gateway in the Caribbean, with potential to anchor stronger trade links between the region and the continent.

Eric Monchu Intong, the bank’s group managing director for client relations and regional operations, framed the initiative as part of a broader effort at “economic emancipation”, using finance to drive growth and expand trade. Afreximbank, he said, aims to support governments in delivering on their development plans.

The bank’s offer extends beyond conventional lending. It provides loan guarantees, advisory services, capital-markets support, bond structuring and trade-payment systems, positioning itself as a facilitator of large and complex transactions. Its role, Intong stressed, is to complement —  not compete with — local banks.

“I cannot lend to the government or to a corporate without working with local banks,” he said. “We are here to complement what they do.”

That model reflects Afreximbank’s identity as a policy-oriented institution, closely aligned with governments. Its network of subsidiaries and specialised platforms is designed to ease bottlenecks in trade and investment across Africa and the Caribbean, spanning areas such as equity finance, compliance, insurance, healthcare and the creative industries.

Among these is Mansa, a compliance platform that standardises and shares Know Your Customer (KYC) data. By simplifying due diligence, it aims to reduce friction in cross-border transactions, especially for smaller firms.

“We created a fully funded platform so that SMEs, banks, corporates and state-owned entities can upload their KYC information,” Intong said. “Once cleared, partners can transact with greater confidence.”

Such tools, he argued, could help address long-standing perceptions of risk that have constrained Caribbean businesses, while boosting investor confidence.

For Jamaica, the timing is appropriate as the Government of Jamaica seeks capital to support reconstruction and resilience efforts following Hurricane Melissa, as well as longer-term development projects.

Finance Minister Fayval Williams signalled the government’s willingness to deepen engagement and used the roadshow to press for deeper collaboration.

Williams praised Afreximbank’s growth over the past three decades, describing it as a “financial force”, and welcomed its expansion into the Caribbean. She also pointed to earlier support, including a US$600,000 grant provided after the hurricane.

“We welcome your presence in Jamaica and in the Caribbean,” she said, noting that services such as trade financing, equity investment and logistics support would be vital for the region’s development.

Williams highlighted the newly established National Reconstruction and Resilience Authority as a potential partner, particularly in rebuilding infrastructure such as housing, utilities and public services. Both public- and private-sector projects, she noted, would require substantial financing.

More broadly, she cast the relationship as part of a longer-term shift towards trade diversification and South–South cooperation, expressing hope that stronger ties would spur two-way trade between Jamaica and African markets.