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Afreximbank CARICOM office opened in Barbados

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Rashaed Esson

Staff Writer

 

#Barbados, August 14, 2023 – The African Export-Import Bank (Afreximbank), CARICOM office was officially opened in Bridgetown Barbaods cementing the Bank’s efforts to promote and develop trade between Africa and the Caribbean, in line with its diaspora strategy and the African Union’s designation of the African diaspora as Africa’s sixth region.

Benedict Oramah, president and chairman of the board of directors of Afreximbank, was speaking at the official opening event on August 4th, 2023 and he referred to this move as an aiding factor critical to facilitating operations of the bank in the Caribbean Community.

The office will make sure that Afreximbank’s products and initiatives are closer to the business community, as well as gaurantee faster  operations  to create fortified relations with the Governments in the region towards the pursuit of mutually identified priorities.

He also said, “With the launch of the CARICOM office, we  look forward to a smooth implementation” of trade and access to finance initiatives, “broader business origination across the CARICOM, and more impactful results from our partnership….We also look forward to Afreximbank subsidiaries [finding] homes in CARICOM, especially the Fund for Export Development in Africa (FEDA), PAPSS and AfrexInsure. Over time, CARICOM and African financial systems will become better integrated for the benefit of our people.”

Mia Mottley, Barbados prime minister also spoke at the event and she said, “This is not just a proud moment historically, but it is also a move that makes sense,” that will “benefit our regional private sector and our regional state-owned corporations who need access to a more empathetic, reasonable [bank] and one willing to take risks…that would allow our people to move and grow to the next level.”

Additonally, she pointed out that the establishment of the office is in line with promises made by the bank during the first AfriCaribbean Trade and Investment Forum held in Barbados in 2022.

Furthermore, Mottley highlighted the strong relationship between Africa and the Caribbean referring to the loyalty Africa has displayed towards the region. She referred to the assistance through the African Medical Supplies Platform during the COVID-19 pandemic. She expressed that Africa welcomed the Caribbean Community and facilitated access to equipment, therapeutics and vaccines, with the payment mechanism facilitated through Afreximbank.

The office wasn’t the only new development under Afreximbank. In December of 2022, Afreximbank approved a US$1.5-billion funding to allow member states of CARICOM that had ratified the Partnership Agreement with Afreximbank, to have access to the bank’s various financial instruments.

However, since July 11, 2023, 11 of the 15 CARICOM member states signed the partnership with Afreximbank, and now the financing will be put towards supporting critical economic sectors aimed at boosting the development of trade-enabling infrastructure, as well as improving trade and investments between Africa and the CARICOM member states, while supporting small and medium enterprises. Additionally, the bank also made a commitment to increase the credit limit to US$3 billion.

The bank will support the implementation of the Partnership Agreement between Afreximbank and CARICOM member states, aimed at expanding Africa-Caribbean trade and investment relations.

Caribbean News

S Hotel Kingston Partners with Bob Marley Foundation to Celebrate Kingston as the Cultural Capital

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KINGSTON, JAMAICA, [February 6, 2024] – In celebration of Bob Marley’s 80th birthday, S Hotel Kingston has partnered with the Bob Marley Foundation to launch an immersive “Explore Kingston” initiative, spotlighting the city’s rich cultural heritage. The collaboration features a dynamic new video that showcases Kingston in the world’s music culture.

Widely regarded as the heart of Jamaica’s artistic and musical legacy, Kingston takes center stage in this captivating video, which highlights iconic sites such as the Bob Marley Museum, Trench Town Culture Yard, Tuff Gong International, and Kingston Creative’s Water Lane Art Walk. The video offers an inspiring glimpse into the city’s cultural essence and its deep connection to reggae music.

“We are thrilled to partner with the Bob Marley Foundation to bring this experience to life,” said Christopher Issa, CEO of S Hotels Jamaica. “This initiative is not only a celebration of Bob Marley’s birthday but also a tribute to the creative spirit that makes Kingston the beating heart of Jamaica.”

S Hotel Kingston embraces this cultural legacy throughout the property. Each room is equipped with a Bob Marley record player. The hotel’s Strings Cafe and Bar features a stunning zinc mural with an impression of Bob Marley, serving as a striking backdrop that pays homage to Kingston’s artistic roots, along with an 8-ft guitar. Additionally, a Bob Marley statue stands as a tribute to the legendary artist, further reinforcing the hotel’s deep connection to Jamaica’s music history.

For more information on S Hotel Kingston, please visit http://www.shotelkingston.com. To view the “Explore Kingston” video, follow S Hotel Kingston on social at @shotelkingstonjm.

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Fully Renovated RIU Negril Reopens

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Montego Bay, February 3, 2025 – RIU Resorts Jamaica, has unveiled major upgrades to its Negril property, while maintaining a strong commitment to local employment and cultural preservation.

The Spanish hotel chain boasts a 98 per cent local employment rate across its seven properties in Jamaica.

This commitment to local hiring extends beyond entry-level positions, with the company actively promoting internal opportunities for Jamaicans, particularly with the reopening of RIU Negril.

“It’s not just staying at one position all the time. You have the options, especially when we open new hotels, we take from the experienced staff into the new hotels and then promote and do internal promotions in this hotel,” Regional Director of Operations at RIU, Frank Sondern stated.

He told JIS News that these opportunities extend to skills development and employee welfare.

Mr. Sondern further noted that this approach contributed to RIU’s staff not participating in recent hotel worker strikes, as the company actively addresses employee concerns regarding transportation, meals, and workplace conditions.

“Also, what I think is very important, is the philosophy that RIU has in regard to the management. We have an open-door philosophy where you do not have to apply somewhere or ask for an appointment to see the general manager,” he stated.

“We are touchable, approachable on the property and always communicating with the staff, and I think that makes a big difference as it [builds rapport],” he added.

The company’s recent renovation project in Negril, completed in December 2024, represents a significant capital investment in Jamaica’s tourism infrastructure.

The upgraded property, which currently employs up to 500 staff members, now features new amenities including ‘swim-up’ rooms and two-bedroom family suites accommodating up to six guests.

Additionally, food and beverage offerings have expanded to include the exclusive Tiki Taco concept and an American comfort food restaurant available 24/7.

This has positioned the resort to capture emerging markets and increase tourism revenue.

RIU’s high percentage of sourcing local food, beverages, and other operational necessities further contributes to the growth of businesses in Jamaica’s tourism supply chain.

Director of Sales at RIU Resorts Jamaica, Niurka Garcia Linton, indicated that the resort ensures authentic Jamaican cuisine in its restaurants, which are mostly named after the parish or location in which they sit.

“Every restaurant that we have with the buffet, breakfast, lunch and dinner will have a Jamaican corner. So everywhere you go, you can get a taste of Jamaican food or drinks,” Mrs. Garcia Linton said.

“It is the same with the entertainment. Reggae is part of our identity, and it is very important for us to really acknowledge the country, acknowledge the culture, and to honour it. We want to give them back,” she added.

In the meantime, as part of its ongoing collaboration with the Government, RIU Resorts maintains a close relationship with the Ministry of Tourism and its affiliated agencies, including the Jamaica Tourist Board (JTB).

Mrs. Garcia Linton said the resort actively participates in promotional initiatives aimed at increasing tourist arrivals. To this end, she is set to represent RIU at an upcoming JTB collaboration in the United Kingdom to boost business from that market in the coming week.

“We recognize that Jamaica has an amazing product. So, we want to ensure that we always have a cutting edge of why the client should choose [Jamaica] over any other brand. This is one of the reasons that we’re always trying to reinvent ourselves,” Mrs. Garcia Linton stated.

 

Contact: Okoye Henry

Release: JIS

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CARICOM Heads of Government will meet in Barbados for 48th Regular Meeting |19-21 February 2025

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Barbados, February 3, 2025 – Caribbean Community (CARICOM) Heads of Government will meet in Barbados, 19-21 February 2025, for their 48th Regular Meeting which is being convened under the theme – Strength in Unity: Forging Caribbean Resilience, Inclusive Growth and Sustainable Development. Heads of Government will discuss several pressing issues for the Community, including food and nutrition security; climate change and the climate finance agenda; the ongoing challenges in Haiti; security issues; digital resilience; external relations matters and the CARICOM Single Market and Economy (CSME). Other issues such as maritime and air transport, and reparations will also occupy the attention of the leaders over the two-day period.

The Meeting’s Opening Ceremony will take place in the afternoon of Wednesday 19 February at the Lord Erskine Sandiford Centre, Bridgetown. Scheduled to deliver addresses are the Chairman, Hon. Mia Amor Mottley of Barbados; outgoing Chairman, Hon. Dickon Mitchell of Grenada; the new Premier of Montserrat, Hon. Reuben T. Meade, and CARICOM Secretary-General, Dr Carla Barnett. Special Guests, Secretary-General of the United Nations, H.E. Mr. António Guterres and the President of the European Commission, H.E. Ms. Ursula von der Leyen will also address the Ceremony.

Prime Minister Mottley, the new Chair, set the tone for CARICOM’s focus over the next six months in her New Year’s message when she highlighted the need for the Community to resume the full implementation of the CARICOM Single Market and Economy, conscious that it “is not merely an economic agenda, but a vision of unity and opportunity for small states to achieve greater economic resilience”. Central to the focus on the CSME is the full realisation of the free movement of CARICOM nationals, which, according to Prime Minister  Mottley “is essential for unlocking the true potential of the people and economies of the Community”.

The business sessions of the Meeting, 20-21 February, will be held at the Wyndham Grand Barbados – Sam Lords Castle in St Philip.

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