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By Latrishka Thomas
The African Export-Import Bank (Afreximbank) is actively working to connect African private sector investors with opportunities in Antigua and Barbuda, according to a senior bank official.
Okechukwu Ihejirika, Chief Operating Officer for Afreximbank’s Caribbean Office, told Observer at the recent Intra-African Trade Fair in Algeria that the bank is “engaging with a lot of African private sector players who have interest in Antigua, who are looking to come in and who are trying to leverage on Africa’s interest, to connect the two regions.”
“We are working very hard to facilitate that,” Ihejirika said, highlighting Antigua and Barbuda’s early commitment to the partnership.
“Antigua was one of the first countries to sign up to Afreximbank’s Partnership Agreement, and we held very interesting bilateral meetings with the Prime Minister and his team after the ACTIF, where we’ve also discussed on areas of intervention that Afreximbank need to work with the government to execute in Antigua and Barbuda,” he shared.
The comments came as the government continues to pursue deeper economic ties with Africa. In August, Prime Minister Gaston Browne attended the 4th Annual African-Caribbean Trade and Investment Forum in Grenada, where he advocated for the Caribbean region to purchase petroleum products directly from Africa.
Browne pointed to existing infrastructure that currently sources petroleum resources from other regions including the United States, Venezuela and Saudi Arabia, suggesting the Caribbean could diversify its energy suppliers.
The Prime Minister also identified immediate opportunities for cost savings, including importing cement from Africa at significantly lower prices than current sources, which could drive down construction costs across the region.
The Intra-African Trade Fair, which took place from September 4-10 in Algeria, attracted more than 112,000 visitors from 132 countries and featured 2,148 exhibitors. The event concluded with US $48.3 billion in trade and investment deals signed during the seven-day continental exposition.
Efforts to increase Caribbean participation in trade fairs and other events are ongoing.
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