The African Export-Import Bank (Afreximbank) has disbursed a US$100 million facility to support the rehabilitation and construction of more than 200 miles of critical road infrastructure across The Bahamas.
The funding, provided to Bahamas Striping Group of Companies Ltd (BSGC), is intended to accelerate a national road improvement programme aimed at strengthening transport networks, boosting tourism and supporting trade and logistics across the archipelago.
The financing was disbursed under a framework agreement signed between Afreximbank and the Government of The Bahamas on the sidelines of the 48th CARICOM Heads of Government meeting in Bridgetown, Barbados, in 2025.
Afreximbank is acting as lender for the transaction, providing a Receivables Discounting Facility tied to government-approved contracts. The arrangement will allow BSGC to receive advance funding for completed and certified works, including asphalt paving, road striping, safety upgrades and maintenance across multiple islands.
Officials say the investment will support a broad infrastructure overhaul designed to deliver safer, more durable road networks and strengthen commerce and visitor access throughout The Bahamas.
Okechukwu Ihejirika, Acting Chief Operating Officer of Afreximbank for CARICOM, said the financing underscores the bank’s commitment to strengthening infrastructure links between Africa and the Caribbean.
“This facility represents an innovative approach to structured finance in cross-regional partnerships and aligns with our mandate to foster a connected Global Africa that encompasses CARICOM. By enabling these extensive road rehabilitation works, we are driving sustainable development and enhanced economic opportunities,” he said.
Ihejirika added that the transaction builds on partnerships formed during the bank’s 2024 Annual Meetings and the AfriCaribbean Trade and Investment Forum held in Nassau.
BSGC Executive Chairman Dominic Sturrup welcomed the financing, describing it as a major boost for the company’s operations and project execution.
“We are grateful to Afreximbank for standing with us through every stage of the process, and we are proud that this transaction strengthens our ability to execute major projects, support our subcontractors and vendors, and scale opportunities,” he said.
BSGC President Atario Mitchell said the facility will help local companies meet financial obligations and expand their operations.
“This facility gives BSGC the ability to move faster, plan better, and execute with even greater reliability across multiple islands,” Mitchell said, noting that the funding will support payroll, materials purchases and operational expansion.
The road improvement works are expected to create jobs and support local communities while improving transport links essential for tourism and trade. Officials say the programme will also enhance The Bahamas’ competitiveness as a regional tourism and logistics hub.
Founded in 2010, BSGC is a Bahamian-owned company that has completed more than 200 projects across Nassau, Exuma and Eleuthera and employs more than 300 people, including subcontractors.
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