{"id":45129,"date":"2022-09-03T14:24:26","date_gmt":"2022-09-03T14:24:26","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=45129"},"modified":"2022-09-03T14:24:32","modified_gmt":"2022-09-03T14:24:32","slug":"afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/","title":{"rendered":"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau"},"content":{"rendered":"

The African Export-Import Bank (Afreximbank) has pledged a $700 million investment towards setting up a regional bureau in the Caribbean to support Africa-Caribbean trade.<\/p>\n\n\n\n

But first, a partnership agreement must be signed to enable Afreximbank to operate in the island nations, which will clear the way for the bank to more than triple the $250 million it previously injected into the Afro-Caribbean trade.<\/p>\n\n\n\n

\u201cAfreximbank will open an office in the Caribbean, and if we do agree, the Bank will work with governments of the Caricom to set up a Caribbean Exim bank as an Afreximbank subsidiary,\u201d Benedict Orama, president of Afreximbank said on Thursday at the inaugural Africaribbean Trade and Investment Forum in Barbados.<\/p>\n\n\n\n

Trade between Africa and the Caribbean has been negligible despite historic linkages between the two blocs.<\/p>\n\n\n\n

For example, while the island nations are awash with fish, Africa imports $4.5 billion of fish from the global market, with the Caribbean accounting for less than 1 percent of this trade, according to African Union statistics.<\/p>\n\n\n\n

And while thousands of Africans visit the Caribbean annually \u2014 mainly for vacation \u2014 their hotel accommodation, transportation, and tourism services are mainly arranged by agencies that have their roots neither in Africa nor the Caribbean.<\/p>\n\n\n\n

\u201cIt is no wonder that Africa receives very little of the financial benefit from these services,\u201d Orama said.<\/p>\n\n\n\n

 \u201cTo avert this, we will aim to support African investments in the Caribbean tourism sector; help promote local content in Guyana and elsewhere where the oil and gas sectors are emerging; support agro-processing projects; and support the project on intra-Caribbean and Africa-Caribbean payment rails.\u201d<\/p>\n\n\n\n

From the East Africa, Rwanda and Kenya have embarked on a charm offensive to attract investors.<\/p>\n\n\n\n

Rwanda\u2019s State Minister for Regional Affairs, Manasseh Nshuti and the Deputy chief executive of Rwanda Development Board, Zephanie Niyonkuru, were in Barbados last week where they held several private meetings with officials and investors from the Caribbean in a bid to close business deals.<\/p>\n\n\n\n

\u201cThe Caribbean is a fast-growing region which the African continent has ignored for a very long time. This should no longer happen,\u201d Mr Nshuti told The EastAfrican.<\/p>\n\n\n\n

Kenya\u2019s Cabinet Secretary for Trade Betty Maina highlighted the hurdles in the path to opening business links in the Caribbean.<\/p>\n\n\n\n

\u201cI spent up to 30 hours in the air \u2013 which is more than a full day \u2013 on my way to Barbados. A plane from Africa has to first go to Europe or New York before it can go to the Caribbean. Comparatively, a direct flight from Africa to the Caribbean would take about six hours. Until this changes, Afro-Caribbean trade will remain a myth,\u201d Ms Maina told The EastAfrican.<\/p>\n\n\n\n

\u201cIt is good that Afreximbank is trying to break this deadlock and ease some of the persistent bottlenecks to trade with the Caribbean. A direct flight between Africa and the Caribbean would open up opportunities that you can hardly imagine.\u201d<\/p>\n\n\n\n

Kenya signed three trade and bilateral investment agreements with Barbados in 2021, meant to promote and enhance bilateral trade.<\/p>\n\n\n\n

<\/p>\n\n\n\n

EastAfrican<\/a><\/p>\n\n\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

The African Export-Import Bank (Afreximbank) has pledged a $700 million investment towards setting up a regional bureau in the Caribbean to support Africa-Caribbean trade. But first, a partnership agreement must be signed to enable Afreximbank to operate in the island nations, which will clear the way for the bank to more than triple the $250 […]<\/p>\n","protected":false},"author":2,"featured_media":24834,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949,241],"tags":[281],"class_list":["post-45129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-foreign","tag-afreximbank","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nAfreximbank to invest $700m in Afro-Caribbean trade, new bureau - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"The African Export-Import Bank (Afreximbank) has pledged a $700 million investment towards setting up a regional bureau in the Caribbean to support Africa-Caribbean trade. But first, a partnership agreement must be signed to enable Afreximbank to operate in the island nations, which will clear the way for the bank to more than triple the $250 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/\" \/>\n<meta property=\"og:site_name\" content=\"The Freezone Channel\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-03T14:24:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-03T14:24:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"484\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"The Freezone Channel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Freezone Channel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/\",\"name\":\"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau - The Freezone Channel\",\"isPartOf\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg\",\"datePublished\":\"2022-09-03T14:24:26+00:00\",\"dateModified\":\"2022-09-03T14:24:32+00:00\",\"author\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/0460d4e5d20a2b7504193e16ded4ecbd\"},\"breadcrumb\":{\"@id\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#primaryimage\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg\",\"contentUrl\":\"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg\",\"width\":860,\"height\":484},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thefreezonechannel.com\/old\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#website\",\"url\":\"https:\/\/thefreezonechannel.com\/old\/\",\"name\":\"The Freezone Channel\",\"description\":\"The Freezone Channel\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/0460d4e5d20a2b7504193e16ded4ecbd\",\"name\":\"The Freezone Channel\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0e1cb0150eada82d107bfbbbc52ad392464787ff8e8179b6cd887ed29e35c6ef?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0e1cb0150eada82d107bfbbbc52ad392464787ff8e8179b6cd887ed29e35c6ef?s=96&d=mm&r=g\",\"caption\":\"The Freezone Channel\"},\"sameAs\":[\"http:\/\/mohammedumomoh@hotmail.com\"],\"url\":\"https:\/\/thefreezonechannel.com\/old\/author\/mohammedumomohhotmail-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau - The Freezone Channel","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/","og_locale":"en_US","og_type":"article","og_title":"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau - The Freezone Channel","og_description":"The African Export-Import Bank (Afreximbank) has pledged a $700 million investment towards setting up a regional bureau in the Caribbean to support Africa-Caribbean trade. But first, a partnership agreement must be signed to enable Afreximbank to operate in the island nations, which will clear the way for the bank to more than triple the $250 […]","og_url":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/","og_site_name":"The Freezone Channel","article_published_time":"2022-09-03T14:24:26+00:00","article_modified_time":"2022-09-03T14:24:32+00:00","og_image":[{"width":860,"height":484,"url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg","type":"image\/jpeg"}],"author":"The Freezone Channel","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The Freezone Channel","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/","url":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/","name":"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau - The Freezone Channel","isPartOf":{"@id":"https:\/\/thefreezonechannel.com\/old\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#primaryimage"},"image":{"@id":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#primaryimage"},"thumbnailUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg","datePublished":"2022-09-03T14:24:26+00:00","dateModified":"2022-09-03T14:24:32+00:00","author":{"@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/0460d4e5d20a2b7504193e16ded4ecbd"},"breadcrumb":{"@id":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#primaryimage","url":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg","contentUrl":"https:\/\/thefreezonechannel.com\/old\/wp-content\/uploads\/2020\/08\/AfreximBank.jpg","width":860,"height":484},{"@type":"BreadcrumbList","@id":"https:\/\/thefreezonechannel.com\/old\/afreximbank-to-invest-700m-in-afro-caribbean-trade-new-bureau\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thefreezonechannel.com\/old\/"},{"@type":"ListItem","position":2,"name":"Afreximbank to invest $700m in Afro-Caribbean trade, new bureau"}]},{"@type":"WebSite","@id":"https:\/\/thefreezonechannel.com\/old\/#website","url":"https:\/\/thefreezonechannel.com\/old\/","name":"The Freezone Channel","description":"The Freezone Channel","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thefreezonechannel.com\/old\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/0460d4e5d20a2b7504193e16ded4ecbd","name":"The Freezone Channel","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thefreezonechannel.com\/old\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0e1cb0150eada82d107bfbbbc52ad392464787ff8e8179b6cd887ed29e35c6ef?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0e1cb0150eada82d107bfbbbc52ad392464787ff8e8179b6cd887ed29e35c6ef?s=96&d=mm&r=g","caption":"The Freezone Channel"},"sameAs":["http:\/\/mohammedumomoh@hotmail.com"],"url":"https:\/\/thefreezonechannel.com\/old\/author\/mohammedumomohhotmail-com\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/45129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/comments?post=45129"}],"version-history":[{"count":0,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/posts\/45129\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media\/24834"}],"wp:attachment":[{"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/media?parent=45129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/categories?post=45129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thefreezonechannel.com\/old\/wp-json\/wp\/v2\/tags?post=45129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}