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What If Caribbean Dollars Flowed to Africa? A Trade Revolution Within Reach

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By Deandrea Hamilton | Editor

 

What would happen if the Caribbean started spending more with Africa?

That question is no longer hypothetical. It’s the vision behind a growing movement that sees the Caribbean not just as a neighbor of the Americas, but as a key partner in the rise of a “Global Africa.” With shared history, deep cultural ties, and emerging trade frameworks, experts say the potential is enormous—if the will to act finally matches the passion of the speeches.

Billions on the Table

Today, trade between Africa and the Caribbean sits at just over US $729 million annually. But the International Trade Centre (ITC) and Afreximbank project that number could balloon to US $1.8 billion per year by 2028—more than doubling in just a few years.

This boost is expected to come not just from commodities, but increasingly from services, particularly in transport, travel, food exports, and creative industries. Two-thirds of that growth, according to analysts, could come from services alone—sectors where the Caribbean is eager to expand. (afreximbank.com).

Meanwhile, Africa’s consumer and business spending is forecasted to skyrocket to US $6.66 trillion by 2030, driven by a population boom and rising middle class.

The Case for a New Trade Axis

The Caribbean imports 80% of its food, but many of those goods can be sourced from African markets. What we offer in return? World-class logistics, tourism know-how, financial services, and proximity to the U.S. market. It’s a natural fit—one that is currently underdeveloped.

The recent call by Grenadian Prime Minister Dickon Mitchell for a “Global Africa Commission” underscores this urgency. He urged stakeholders at the Afreximbank Trade Expo to stop the cycle of empty talk and get to work: building shipping routes, finalizing trade agreements, and boosting knowledge of what each region actually has to offer.

“We will not leave here with another communiqué,” Mitchell continued. “We will leave here with a commitment to act, to build together, to trade together, to succeed together and rise together.”                                                                                                                                                                                                   The statement underscored a central theme of the summit — that both Africa and the Caribbean can no longer afford to admire the idea of unity; they must operationalize it.Pilot platforms like the Pan-African Payment and Settlement System (PAPSS) are already simplifying how cross-border payments work between African countries—and could extend to Caribbean partners. The system removes the need for U.S. dollars in trade between African nations, creating space for sovereign empowerment.

What’s the Hold-Up?

Let’s be blunt: political will, slow bureaucracies, and lack of coordination are stalling real action. Despite a decade of “Africa–Caribbean unity” talk, less than 3% of CARICOM trade currently involves the African continent. That fact continues to undermine these brave speeches and ambitious notions.

Where Caribbean Consumers Fit In

Caribbean consumers—especially the younger, tech-savvy generation—are already looking for affordable, ethical, and culturally relevant goods. African markets offer exactly that. Redirecting even a fraction of spending toward African-made clothing, beauty products, tech tools, or agro-processed foods could start a real trade revolution.

Bottom Line

If the political leaders won’t build the bridge fast enough, maybe Caribbean consumers will. The money is there. The interest is rising. Now it’s time to turn the “Global Africa” vision into a real economic shift—one shopping cart at a time.

Africa

Rwanda and DRC Sign Historic Declaration of Principles in Washington

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Washington, D.C. – April 25, 2025 — In a major diplomatic breakthrough, the Governments of the Democratic Republic of the Congo (DRC) and the Republic of Rwanda today signed a Declaration of Principles aimed at paving the way for peace, stability, and economic integration in eastern DRC. The ceremony, hosted by U.S. Secretary of State Marco Rubio, marks a significant step forward in efforts to resolve longstanding tensions between the two neighboring countries.

Foreign Minister Thérèse Kayikwamba Wagner signed on behalf of the DRC, while Foreign Minister Olivier Nduhungirehe signed for Rwanda. They were joined by Deputy Secretary of State Christopher Landau, Senior Advisor for Africa Massad Boulos, and U.S. Ambassador to the DRC Troy Fitrell.

The signing ceremony builds on the efforts of the African Union and other regional leaders who have long sought to address the complex and often violent conflict in the Great Lakes region. The Declaration of Principles establishes a framework for restoring normal bilateral relations between Rwanda and the DRC, reinforcing commitments to sovereignty, territorial integrity, security cooperation, and regional economic development.

“This is a pivotal moment,” Secretary Rubio said. “The United States is honored to support Rwanda and the DRC as they take this courageous step toward lasting peace and shared prosperity.”

The Declaration outlines key areas of cooperation, including mutual recognition of each country’s sovereignty and established borders, the peaceful resolution of disputes, and the prohibition of interference in internal affairs. It emphasizes the urgent need to address security threats posed by non-state armed groups operating along the shared border and commits both governments to refrain from providing support to such groups.

To enhance security, the two nations agreed to explore the creation of a joint security coordination mechanism aimed at combating armed groups and criminal organizations. This cooperation is viewed as essential not only for stability but also for expanding legitimate trade and broader economic collaboration across the region.

In an ambitious economic vision, Rwanda and the DRC pledged to develop a phased regional integration framework, building on organizations like the International Conference on the Great Lakes Region (ICGLR), the Common Market for Eastern and Southern Africa (COMESA), and the East African Community (EAC). They plan to link this framework with U.S.-supported investments in infrastructure, hydropower, mineral supply chain transparency, and national park management.

The Declaration also addresses the humanitarian crisis caused by ongoing conflict. Both countries committed to working with UN agencies to facilitate the safe and voluntary return of internally displaced persons (IDPs) and refugees.

In addition, the two countries reaffirmed their support for the UN peacekeeping mission MONUSCO and other regional mechanisms, ensuring protection for civilians and facilitating the implementation of the principles outlined in the Declaration.

Finally, in alignment with ongoing initiatives such as the Nairobi and Luanda processes, the two governments committed to drafting an initial Peace Agreement by May 2, 2025. Any disputes arising from the draft will be addressed through a Foreign Minister-level meeting in Washington, D.C., hosted by the U.S. State Department.

Signed in duplicate in English, today’s agreement marks a hopeful new chapter in Rwanda-DRC relations, offering a potential blueprint for peace and development across one of Africa’s most conflict-affected regions.

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Africa

Creative Africa Nexus (CANEX) announces 2nd Edition of The Prize for Publishing in Africa  

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21 March 2025 – Creative Africa Nexus (CANEX), an intervention by African Export-Import Bank (Afreximbank) invites African publishers of trade books to apply for the second edition of the CANEX Book Factory Prize for Publishing in Africa.

The initiative, developed in partnership with Narrative Landscape Press Limited, underscores the commitment of Afreximbank through the CANEX Book Factory to showcasing of the literary and publishing value chain in Africa, and developing literary talent across the continent and its diaspora. The inaugural edition saw Cassava Republic Press, win the Prize in 2024 for the “Female Fear Factory: Unveiling Patriarchy’s Culture of Violence,” by Pumla Dineo Gqola.

The CANEX Book Factory Prize for Publishing in Africa is designed to celebrate and recognise the outstanding contributions of African publishers and authors to the literary world. The total prize fund is $28,000, with $20,000 awarded to the winner and $2,000 distributed to each of the four finalists. The prize is open to trade books published by Africa-domiciled publishers in the year preceding the prize, in one or more of the official languages of the African Union: Arabic, English, French, Portuguese, Spanish, Swahili, and any other African language.

Submissions will be judged on the quality of writing, editing and production. Priority will be given to books printed and produced on the African continent, as well as to books published in indigenous African languages. Interested publishers should visit https://canex.africa/canex-book-factory to register, with entries open from 17 March – 30 April 2025.                                                                                                                                                                  The CANEX Book Factory is an annual programme of events under Afreximbank’s Creative Africa Nexus initiative. This year’s programme will culminate in an awards ceremony at the fourth edition of the Intra-African Trade Fair (IATF), Africa’s premier trade and investment event, taking place in Algiers, Algeria from 4 – 10 September 2025.

During the week-long fair, more than 2,000 exhibitors, including businesses from the African continent and globally, will be showcasing their goods and services to the visitors and buyers while exploring opportunities and exchanging information. This is projected to translate into over US$44 billion in trade and investment deals.

Mrs. Kanayo Awani, Executive Vice President, Intra African Trade and Export Development, Afreximbank, said, “We are delighted to announce the 2025 CANEX Book Factory Prize for Publishing in Africa. Building on last year’s successful edition, this landmark initiative celebrates African publishing excellence. Through the CANEX Book Factory, we aim to put a spotlight on the enormous contribution of African authors and publishers to Africa’s cultural identity and economy.”

Dr Eghosa Imasuen, co-founder of Narrative Landscape Press Limited and Programme Manager for the CANEX Book Factory, said, “The first edition of the Prize greatly underscored the necessity of this intervention in the publishing value chain in Africa. We are grateful to Afreximbank and CANEX for their ongoing support of African publishing. We are excited to launch this second edition, and we hope to see submissions from more publishers across the continent than in the inaugural edition.”

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Africa

Africa-CARICOM Day (September 7) Observed 

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By BETTY VEDRINE
Bahamas Information Services



NASSAU, The Bahamas —  At a press conference at the Ministry of Foreign Affairs, September 6, Minister of Foreign Affairs the Hon. Fred Mitchell announced Africa-CARICOM Day which is celebrated September 7, and honours the third anniversary of the Africa-CARICOM Summit that established the foundation for a new and enhanced partnership between Africa and the Caribbean and between the African Union and the Caribbean Community.  Present were ambassadors, senior officials and stakeholders representing a cross-section of agencies.

In  attendance: Jamahl Strachan, Parliamentary Secretary in the Ministry of Foreign Affairs; H.E. Ambassador Philip Smith, High Commissioner of Social & Reparatory Justice; H.E. William Wong, Non-Resident Ambassador to the Kingdom of Morocco; Dr. Niambi Hall-Campbell Dean, Chairman of the Bahamas Reparations Committee; Gaynel Curry, Member of the UN 10-member Permanent Forum on People of African Descent; and Melvin Seymour, Permanent Secretary of the Ministry of Foreign Affairs.

Minister Mitchell said that historically, the relationship between The Bahamas and the countries of Africa, has been a strong one demonstrated by the strong stand  the ‘Father of the Nation,’ Sir Lynden Pindling took in l985 at the Commonwealth Heads of Government meeting in Nassau to free the iconic African leader, Nelson Mandela, who was imprisoned for over 27 years.

“The Bahamas was proud and honoured when Mandela visited in 1993,” he said. “In more recent times, The Bahamas has strengthened its relationship with countries of the African continent with a view to strengthening cultural, political and economic ties.  Expanding diplomatic relations and collaborating with Africa in the areas of tourism, finance, education, people-to-people exchanges, culture and exchange programs, strengthens economic activity and provides the opportunity for growth and development as we tap into the opportunities provided by new markets.”

He said that the government has appointed a non-resident Bahamian Ambassador to Ghana, H.E. Andrew Wilson and a non-resident Bahamian Ambassador to the Kingdom of Morocco, H.E. William Wong.

“We have made several official and state visits to the continent including one to Ghana and two to Botswana. The last state visit to Botswana was in July 2023 by our Governor General, H.E. Dame Cynthia Pratt.”

The Minister said that  a ‘Sister City Agreement’ between Nassau and Princess Town, Ahanta West Ghana will form direct connections between Africa and the people of its diaspora born in The Bahamas and in so doing, strengthen cultural, social and economic ties between both countries.

He also noted that a delegation from the University of The Bahamas Northern Campus, engaged in discussions with several universities in Ghana, which centered on enhancing relationships, developing MOUs and fostering faculty and student exchanges and joint research initiatives.

In addition, he said that The Bahamas played host to the Afreximbank Conference earlier this year — a first for the region.

“An MOU between The Bahamas Development Bank and the African Export-Import Bank, provides up to $700 million in investment for sustainable development projects throughout the Caribbean.

The Minister said that this year also marked the inaugural flight of Ethiopian Airlines to The Bahamas, which marks an ‘important’ step towards encouraging AfroCaribbean tourism and deepening both nations’ shared cultural legacy.

An exhibit featuring African art and artifacts followed the press conference.

 

PHOTO CAPTION

Minister of Foreign Affairs, the Hon. Fred Mitchell is pictured taking a tour of African art and artifacts following a press conference announcing the observance of Africa-CARICOM Day, September 7.

 

(BIS Photos/Patrick Hanna).

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