By George Ozalla
President of the African Export-Import Bank, Afreximbank, Dr. George Elombi, has called for a bold reset in economic relations between Africa and the Caribbean, urging leaders to move beyond historical ties and build practical trade and investment bridges capable of transforming both regions.
Dr. Elombi spoke at the 50th Regular Meeting of the Conference of Heads of Government of the Caribbean Community, CARICOM, held in Basseterre, St Kitts and Nevis, where regional leaders gathered to deliberate on economic resilience, climate adaptation, trade integration and geopolitical shifts affecting small and developing economies.
Addressing heads of government and senior policymakers, the Afreximbank President underscored the historic bonds linking Africa and the Caribbean, but stressed that emotional affinity alone would not deliver prosperity. He said the time had come to translate shared heritage into measurable economic outcomes through structured financing, trade facilitation and institutional collaboration.
The meeting, convened under the framework of the Caribbean Community, brought together leaders from across the bloc to review regional integration efforts and explore strategic partnerships. Dr. Elombi’s intervention focused on expanding commercial corridors between African economies and CARICOM member states, particularly in areas such as energy, agriculture, creative industries, tourism, digital services and manufacturing.
He noted that trade volumes between Africa and the Caribbean remain disproportionately low compared to their potential, despite cultural and historical ties that date back centuries. According to him, one of the major constraints has been limited access to trade finance, logistical bottlenecks and insufficient banking relationships across both regions. Afreximbank, he said, is prepared to deploy targeted financial instruments to bridge these gaps and reduce transaction risks for businesses operating across the Atlantic.
Dr. Elombi also highlighted Afreximbank’s broader strategy of supporting South–South cooperation, pointing to the bank’s growing engagement with Caribbean institutions as part of a deliberate effort to create a structured Africa–Caribbean trade ecosystem. He explained that deeper collaboration would not only diversify export markets but also strengthen economic resilience at a time when global supply chains are increasingly uncertain.
The Afreximbank President further encouraged Caribbean governments to leverage opportunities presented by the African Continental Free Trade Area, describing it as a gateway to a market of over one billion people. He maintained that structured partnerships between African and Caribbean private sectors could unlock new value chains in pharmaceuticals, agro-processing, maritime services and renewable energy.
Leaders at the conference acknowledged the strategic importance of expanding economic alliances beyond traditional partners, particularly in light of climate vulnerabilities and financing constraints faced by small island developing states. Discussions at the summit reflected a shared determination to widen global engagement while preserving regional solidarity.
The 50th Regular Meeting of the Conference of Heads of Government marked a milestone moment for the Caribbean Community as it reviewed five decades of regional cooperation and charted its path forward. Founded in 1973, CARICOM remains the principal mechanism for economic integration and coordinated foreign policy among its member states.
Afreximbank, established to promote and finance intra- and extra-African trade, has in recent years intensified its outreach to diaspora regions, positioning Africa and the Caribbean as natural partners in a shifting global economic order. Dr. Elombi’s address signaled a renewed push to convert that vision into concrete trade flows and investment partnerships capable of delivering shared growth across both sides of the Atlantic.
