Afreximbank Provides US$100 Million to Upgrade Roads in The Bahamas
The African Export–Import Bank (Afreximbank) has disbursed a US$100 million receivables discounting facility to Bahamas Striping Group of Companies Ltd (BSGC), significantly accelerating the rehabilitation and construction of more than 200 miles of critical road infrastructure across The Bahamas.
The financing, executed under a Framework Agreement signed with the Government of The Bahamas during the 48th CARICOM Heads of Government Conference in 2025, is expected to support a nationwide upgrade of road networks aimed at improving safety, durability, and connectivity across the archipelago. The programme is also set to enhance trade, tourism and logistics while creating employment opportunities for local communities.
Under the transaction, Afreximbank acted as lender, providing advance funding against government-approved contracts. The facility enables BSGC to accelerate project delivery and receive timely payments for completed and certified works, including asphalt paving, road striping, safety improvements and routine maintenance across multiple islands.
Speaking on the transaction, Mr Okechukwu Ihejirika, Acting Chief Operating Officer of Afreximbank’s Caribbean Office, said the facility reflected the Bank’s strong commitment to supporting trade-enabling infrastructure within the Global Africa framework.
“This transaction demonstrates an innovative approach to structured finance in cross-regional partnerships. By supporting large-scale road rehabilitation in The Bahamas, Afreximbank is contributing to sustainable development, improved connectivity and expanded economic opportunity across CARICOM,” Mr Ihejirika said.
He added that the deal builds on partnerships forged during Afreximbank’s 2024 Annual Meetings and the AfriCaribbean Trade and Investment Forum held in Nassau, underscoring the Bank’s long-term engagement with Caribbean partners.
BSGC Executive Chairman, Mr Dominic Sturrup, welcomed the support, noting that the facility would strengthen the company’s capacity to execute major infrastructure projects while supporting subcontractors and suppliers.
“This partnership enhances our ability to deliver large-scale projects efficiently, support local businesses, and expand economic opportunities across the islands,” Mr Sturrup said.
BSGC President, Mr Atario Mitchell, explained that the facility would also enable local companies to meet operational obligations, including payment of employees, procurement of materials, and business expansion.
“The funding allows us to move faster, plan more effectively, and deliver with greater reliability across multiple islands,” Mr Mitchell said.
The road rehabilitation programme is expected to improve access for communities, strengthen tourism infrastructure, and boost The Bahamas’ competitiveness as a regional trade and tourism hub. The initiative also aligns with broader efforts to promote inclusive growth and local empowerment.
Founded in 2010, Bahamas Striping Group of Companies is a wholly Bahamian-owned enterprise that has completed more than 200 projects across Nassau, Exuma and Eleuthera, employing over 300 people, including subcontractors.
The transaction further highlights Afreximbank’s expanding role in supporting infrastructure development beyond the African continent, reinforcing economic ties between Africa and the Caribbean through strategic, development-focused financing.
