Caribbean News
CIF GUYANA PUTS SPOTLIGHT ON TRANSFORMATIVE REGIONAL INVESTMENTS
A clear vision for a transformed Caribbean and a roadmap to achieving it – that’s what attendees of the third edition of the Caribbean Investment Forum (CIF) 2024 came away with when the high level conference drew to a close on Friday, July 12, in Georgetown, Guyana.
Hosted by the Caribbean Export Development Agency (Caribbean Export), at the Arthur Chung Conference Centre, under the theme “Transforming Our Future, Empowering Growth”, the forum brought together over 450 delegates from 40 countries for three days of insightful presentations, strategic networking and intense negotiations.
Delegates explored the abundant investment opportunities and incentives in the Caribbean, particularly in the priority areas of green economy transition, the digitalization of Caribbean business, and sustainable agriculture.
Caribbean Export’s Manager (Ag), Competitiveness & Export Promotion, Natasha Edwin-Walcott, said, “The Caribbean Investment Forum delivered its promise to provide a platform for the public and private sector including investors, entrepreneurs and development partners to network and collaborate on ways to transform the region on the three focus areas.
Feedback from attendees and partners have been overwhelmingly positive. The event attracted over 450 delegates and facilitated more than 200 business meetings. The CIF brand is growing and we are excited by the partnerships established and the encouraging discussions held with development partners and other stakeholders.”
During his opening speech, newly appointed Executive Director of Caribbean Export, Dr. Damie Sinanan, spoke of the trail of devastation left in the wake of Hurricane Beryl and how its aftermath further proves the importance of the conference’s priority areas.
“With this one catastrophic event we have to ask ourselves some serious questions. Once again, how do we mitigate and adapt to those climatic impacts? How does this affect our ability to feed our people and how do our Caribbean people exploit opportunities presented by new technologies, innovation and connectivity to continue to do business in times of peril? That is why since 2022 Caribbean Export has championed these core areas and it is no different this year. We believe these areas portend the greatest potential for a transformative and resilient Caribbean region.”
In his wide-ranging keynote address detailing his vision for a transformed Caribbean, President of the Co-operative Republic of Guyana, His Excellency Dr Mohamed Irfaan Ali, told the packed conference hall, “Sometimes we are captured by our own size, size of population and size of market but there is nothing bigger than an idea, than innovation, than driving ideas, that can change the narrative and position us as a region of excellence and that is what we have to do. We have to go after innovation that will position us as a region of excellence, and a region of excellence requires innovative thinking, it requires investing in a knowledge economy, investing in our human resources, building the right and strong partnerships. These are the things that matter.”
The president also highlighted his country’s investment landscape, stating “Guyana offers generous and favourable fiscal investment incentives. Guyana is an open foreign currency market with low inflation and a stable financial system. In every single sector, we have
outlined the investment opportunities that exist here in Guyana.”
Over the two days of high level discussions and presentations, delegates learned about investment and partnership opportunities that are addressing the region’s biggest challenges and promising transformative results.
Conference highlights included the U.S. Agency for International Development (USAID) reaffirming its commitment to the Caribbean and an announcement of US$28 million in funding to the Caribbean, including an extra US$1.45 million to expand the Economic Development Activator programme in Guyana, Suriname and Trinidad and Tobago. The announcement came on day two during the keynote address from USAID’s Deputy Administrator for Policy and Programming, Isobel Coleman, titled ‘Building Resilience Through De-risking: Unleashing Catalytic Capital and Public-Private Collaborations in the Caribbean’.
Representatives from the Inter-American Development Bank (IDB), CAF Development Bank, Regional European Union Delegation from the Caribbean and others, also reaffirmed the commitment of their individual organisations to helping the region develop in the three priority areas. Delegates learned more about the EU’s Global Gateway Strategy, and the IDB’s One Caribbean strategy.
The first day of activities featured, among other things, a keynote fireside chat on Building Tomorrow: Harnessing the Power of Green featuring the Chairman of CAG, The Carlyle Group, Dr. Gerrard Bushell, as well as a CEO Leadership Roundtable titled Caribbean Titans Unite: Fueling Resilience Through Bold Investments featuring Vice President of Citi Environmental & Social Risk Management, Ryshelle McCadney; Managing Director of Farfan & Mendes Ltd, Andrew Mendes; COO – Caribbean Office (Ag.) of African Export-Import Bank, Okechukwu Ihejirika; and Director of Global Business Development of Global Integrated FinTech Solutions, Dave Sahadath.
During the opening of the CIF 2024 Investment Village and Blitz, Advisor for Investment Promotion at the Caribbean Export Development Agency, Tonya Cummins, told attendees, “This initiative underscores our commitment to facilitating meaningful connections and fostering an ecosystem where investment can thrive. It is designed to not only highlight the projects but also to demonstrate the immense potential and readiness of the Caribbean to attract and sustain FDI…. Our goal is to create a robust environment that supports business growth, fosters innovation, and enhances the economic well-being of our member states.
The Investment Village featured an impressive array of private sector projects ranging from USD $500,000 to USD $16 million, collectively amounting to a total portfolio value of close to USD $50 million. The projects all fell under the sustainable agriculture and
digital transformation thematic areas and included Project Kiem based in Suriname, Crazy About Organics Sustainable Farms based in the Dominican Republic, Transforming Caribbean Agriculture through Innovation and Sustainability based in St. Vincent & The Grenadines, HUBU Aquafarm Phase 2/3 Development based in Guyana, Prosperina Agtech based in The Bahamas, HealthApp Solutions based in Guyana, Orbtronics Innovation Hub based in St. Lucia and GUYIMEX International based in Guyana.
Delegates also heard presentations from the Carib Equity and United Nations Capital Development Fund (UNCDF), EU funded projects.
On the final day of conference activities, Grenada’s Minister for Climate Resilience, the Environment and Renewable Energy Ministry for Climate Resilience, the Environment and Renewable Energy, Kerryne James, joined the conference virtually for a ministerial spotlight on Fostering Sustainable Development Through Innovative Investment Strategies in the Caribbean: Opportunities and Challenges.
Later, delegates received a much anticipated update on the Ferry Project from His Excellency Ambassador Dr. Andre Thomas, Chairman & CEO of Pleion Group Inc, Parent Group of Connect Caribe. They also heard country presentations from investment agencies representing the Dominican Republic, Turks & Caicos, Trinidad and Tobago, Barbados, St. Kitts, Grenada, and Dominica, which were also well received.
In her closing remarks, Guyana’s Minister of Tourism, Industry and Commerce, Oneidge Walrond, described CIF 2024 as a resounding success.
“The government of Guyana is fully aware of the importance of this forum for the sustainable development of our Caribbean region. CIF has once again provided a dedicated space for global and regional interactions, many of which we hope to evolve into long-lasting partnerships and business relationships,” she said.
How Venezuelan farmers are learning to grow and live with a devastating plant disease
In the fields of Venezuela, where the banana has been for generations a symbol of sustenance and tradition, a shadow fell across the land. In 2023, Venezuela’s National Institute of Integral Agricultural Health (INSAI) declared a phytosanitary emergency: the fungus Fusarium Tropical Race 4 (TR4) (Fusarium oxysporum f. sp. cubense tropical race 4; syn. Fusarium odoratissimum) had arrived in producing areas in the states of Aragua, Carabobo and Cojedes.
This fungus, considered a devastating disease of banana and plantain (Musaceae) trees, can remain in the soil for more than two decades,
threatening production and the lives of those who depend on it.
In the state of Aragua in the north of the country, the Renacer community had been growing bananas and plantains on 20 hectares since 2018. Then Fusarium arrived.
“When the disease hit, the entire plantation began to deteriorate. We refused to ‘die’ with the trees because that was our livelihood. The visits of INSAI confirmed that we had to chop down the banana trees. I cried a lot because I had worked with my banana trees for years,” recalls woman farmer, Lesbia Margarita García, with a broken voice.
In response, INSAI implemented measures to eliminate the affected plantations and improve the soil health by changing to other crops that allow agricultural production to recover. The Food and Agriculture Organization of the United Nations (FAO) offered assistance by providing corn seeds, tools, biosecurity inputs and training, with teams of experts helping farmers to start again.
“Planting corn, thanks to the INSAI-FAO programme, gave us a harvest that benefited everyone. We have been improving the soil,” says Lesbia Margarita with a smile. “Now we rotate crops, observe soil health and have learned how to use natural fertilizers. Expert assistance has been key.”
The pilot project works directly with affected producers in high-risk areas, promoting alternative crops such as cereals and vegetables, delivering inputs and tools to mitigate damage and applying biosecurity measures for safe and effective containment.
“Beyond the corn received, we have already planted cassava, chili peppers, beans and pumpkin. We hope that by the end of the year [2025] we will be diversified and that each season we will have something to sell. These lands do not give up,” says Lesbia Margarita with conviction.
The Renacer community is beginning to see fruits. Their products are reaching local markets, generating income and rebuilding their livelihoods.
Key actions to manage Fusarium TR4 are ongoing, including regular monitoring, continuous training, inter‑institutional coordination,
updates to the national plan, information campaigns and producer impact assessments. INSAI is sustaining regulatory, surveillance measures and training —with FAO support—as part of a comprehensive long‑term strategy.
At the global level, FAO supports awareness raising, capacity building and international collaboration in the fight against Fusarium TR4 by facilitating the World Banana Forum and its Global Network on TR4.
“The objective is for countries to strengthen their operational and technical capacity, articulating actions between the public sector, the private sector and family farmers,” says Raixa Llauger, FAO Agriculture Officer in Mesoamerica. “FAO and local partners have promoted this approach in Venezuela.”
As an essential part of the activities, a comprehensive training programme was developed with activities that taught farmers how to identify the disease contain it and protect crops. In addition, FAO has distributed laboratory equipment, biosecurity tools and a multispectral drone to INSAI. Drones are an efficient and cost‑effective tool for phytosanitary surveillance, offering rapid, high‑resolution monitoring and early detection of plant pests and diseases.
Overall, the project strengthened biosecurity measures against the Fusarium fungus through the adoption of the National Action Plan and the establishment of partnerships with national and international institutions. In addition, the pilot initiative supporting smallholder farmers in key production areas and a nationwide awareness campaign with broad outreach improved surveillance, diagnosis and phytosanitary response capacities across the country.
MIAMI, Florida — Emotional testimony from Martine Moïse, the widow of assassinated Haitian President Jovenel Moïse, has given
jurors in a U.S. federal courtroom a chilling account of the night gunmen stormed the presidential residence and killed the country’s leader.
Martine Moïse took the stand this week in Miami as part of the ongoing trial of several men accused of helping plan and finance the July 7, 2021 assassination, a crime that plunged Haiti into political crisis and remains only partially solved.
She told the court that armed men forced their way into the president’s private home in the hills above Port-au-Prince during the early morning hours, firing multiple shots at her husband while she lay beside him. She testified that she was also wounded in the attack and survived by pretending to be dead until the gunmen left the room.
According to prosecutors, the plot involved a group of foreign mercenaries, including former Colombian soldiers, along with Haitian and
Haitian-American suspects. Investigators say some of the men believed the mission was to detain the president, but the operation turned into an assassination.
The Miami trial is focusing on the alleged role of South Florida businessmen and others accused of organizing or financing the plan, part of a wider international investigation that has stretched across several countries.
More than four years after the killing, the question of who ultimately ordered the assassination remains unanswered, with suspects still in custody in both Haiti and the United States as the case continues to unfold.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.
CARIBBEAN — Jamaica has become the 13th CARICOM member state to accede to the African Export-Import Bank Establishment Agreement, further strengthening economic ties between Africa and the Caribbean.
The development was confirmed during the 50th CARICOM Heads of Government Meeting, where an Afreximbank delegation led by George Elombi and Kanayo Awani met with Jamaica’s Prime Minister Andrew Holness to advance cooperation.
Prime Minister Holness thanked the bank for its support following Jamaica’s recent hurricane, noting that Afreximbank financing helped restore critical infrastructure including water, electricity, sewage systems and roads, while also assisting reconstruction efforts aimed
at building stronger resilience to future disasters.
The meeting also focused on broader development opportunities tied to Jamaica’s membership in the agreement. Discussions included rebuilding and modernising infrastructure such as railways, hospitals and other public facilities, while strengthening regional transportation and trade networks to improve the movement of people and goods across the Caribbean.
Afreximbank has been expanding its presence in the Caribbean as part of its strategy to connect Africa with the region often referred to as “Global Africa.” The bank has already committed billions of dollars in financing and trade support to Caribbean economies in recent years, including funding for infrastructure, trade facilitation and private sector investment.
By joining the agreement, Jamaica gains expanded access to Afreximbank’s financial instruments, technical support and trade networks designed to promote commerce between Africa and CARICOM states.
Regional leaders say the growing partnership could unlock new opportunities in areas such as trade, logistics, tourism, manufacturing and cultural exchange, strengthening economic cooperation between the two regions with deep historical and diaspora ties.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.
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