admin The African Export-Import Bank (Afreximbank) is stepping up its role in the Caribbean’s energy sector, signaling it will leverage its expanded $5 billion regional financing capacity to support oil and gas development and local content growth.
Speaking at Caribbean Energy Week, Okechukwu Ihejirika, Acting COO of Afreximbank’s Caribbean Office, said the bank is “ready to do a lot more” after helping raise $1.7 billion to enable Suriname’s national oil company Staatsolie to take a 20% stake in the GranMorgu offshore development.
“We’re witnessing a lot of transformational discoveries across the Caribbean,” Ihejirika said. “There are a lot of similarities between the two regions, which makes collaboration absolutely necessary. This collaboration will open up opportunities to deepen knowledge sharing in oil and gas.”
The push comes as Afreximbank scales up its broader engagement with the Caribbean, having recently increased its regional financing limit to $5 billion. Over the past two years, the bank has approved over $750 million in credit, spanning infrastructure, trade and climate resilience initiatives across multiple Caribbean markets.
The bank is also working to create new interregional platforms with CARICOM to attract capital and expertise. “We’re pursuing a couple of critical initiatives to enhance interregional cooperation – first working with CARICOM, and also developing a CARICOM-Afreximbank platform to help attract capital for the region,” Ihejirika said.
Afreximbank’s positioning signals a growing role in supporting emerging Caribbean producers, linking African capital and expertise with one of the world’s newest hydrocarbon frontiers.
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