NASSAU, Bahamas, June 16, 2024 – In a post on his Facebook page today Prime Minister Philip E. Davis noted that The Bahamas proudly welcomed over 4,000 participants for the Afreximbank Annual General Meeting and “was honored to host this significant event, underscoring our commitment to economic collaboration and growth.”
“The $30 million capitalization of the Bahamas Development Bank by Afrexim Bank will create new opportunities for Bahamians, support small businesses, drive innovation, and foster sustainable development,” the Prime Minister stated.
In another post, the Office of the Prime Mnister highlighted the signing of the $1.86 million Project Preparation Facility agreement between Afreximbank and the Ministry of Grand Bahama at the 2024 Annual Meetings of Afreximbank held from June 12 to 15 at the Baha Mar Convention Center on West Bay Street.
“This marks a significant step towards the development of the Afro-Caribbean Marketplace and Logistics Center on Grand Bahama Island, set to become a vibrant hub for tourism, commerce, and trade between African countries, The Bahamas, and the Caribbean,” Prime Minister Davis said
He noted that the Afro-Caribbean Marketplace and Logistics Center “will position Grand Bahama as a beacon of international trade.”
“This transformative project will revitalize the International Bazaar, boost economic growth, empower entrepreneurs, and strengthen cultural ties across continents, fostering mutual exchanges in culture, education, and investment,” the Prime Minister said.
Meanwhile, on its Facebook page , Afreximbank described the AfriCaribbean trade and Investment Forum 2024 as “an amazing few days” on the closing day of the meetings on Saturday, June 15.
“This brings us to the end of our 2024 Annual Meetings,” Afreximbank noted. “We hope you managed to keep up with all the insightful and inspiring conversations we reflected on throughout the week, and that now more than ever, you are ready to join us in championing Global Africa.”
It then provided “a final recap of the last few days” with narrative and photos, including:
In a heartwarming session, distinguished guests gathered to give prominence to the importance of
charitable donations and support for the vulnerable, particularly children and women.
Bahamas First Lady Ann Marie Davis highlighted the role of supporting and uplifting one another, particularly children, in building a strong nation.
“We must continue to build our nation by supporting and uplifting each other, especially our children, who are our future,” Mrs. Davis said.
Mrs. Chinelo Oramah, spouse of Professor Benedict Oramah, President & Chairman of the Board of Directors of Afreximbank, echoed the importance of inclusivity and sustainability in achieving meaningful prosperity for the African continent.
“The prosperity of the continent is only meaningful when it is inclusive and sustainable,”Mrs. Oramah said.
Embodying the spirit of a Global Africa, Mrs. Chinelo Oramah made two donations of $50,000 each to the Bahamas Children’s Emergency Hostel and the Salvation Army the spirit of Global Africa.
Ms. Charlene Gibson of the Children’s Emergency Hostel and Mr. Felix Stubbs, Chairman of The Salvation Army Advisory Board, expressed their gratitude for the support, acknowledging the significant impact these contributions will have on the lives of those in need in The Bahamas.
BACKGROUND DISCUSSION ON THE THIRD DAY
At the side panel discussion on the 3rd day of #ACTIF2024 titled “Unlock The Opportunities To Africa Trade And Finance Through Africa Trade Gateway Platform,” Mr. Haytham ElMaayergi, Executive Vice President, Global Trade Bank (GLTB); Emily Mburu-Ndoria, Director – Directorate of Trade in Services, Investment, Intellectual Property Rights & Digital Trade (DTIID), AfCFTA Secretariat; Mr. Simon Tiemtore, Chairman, Vista Bank Group & Lilium Capital Group; Mr. Abdulmajid Mussa Nsekela, Group CEO and Managing Director, CRDB Bank, Tanzania; Mr. George Chitera, Managing Director, FDH Bank Limited, Malawi; and Dr. Daniel McKorley, Chairman, McDan Group, Ghana shared practical insights on how the Africa Trade Gateway (ATG) is revolutionizing cross-border trade across Africa.
Through a suite of digital services, the ATG creates a collaborative trading Ecosystem to facilitate end-to-end trade (with services, tools and resources to support transactions from initial verification stage through to final execution). The ATG side panel was attended by international partners and African Banks. #GlobalAfrica #Afreximbank #ACTIF2024 #GlobalAfricaProsperity #OnePeopleSharedAspirations
BAHAMAS DEPUTY PRIME MINISTER CHESTER COOPER OPENS SESSION
Hon. Isaac Chester Cooper opened the Trade and Investment session with a heartfelt message about unity, resilience, and collaboration. “You know, my mother did not have a college education, but in her great wisdom, she taught me never to miss a moment.” he shared, setting the tone for an inspiring address.
Drawing attention to the potential for joint ventures, he declared, “You are family, our brothers and sisters, and we love you, but I think this is an incredible opportunity to do more business with you.”
He went on to stress the importance of self-determination, stating, “We no longer believe we have to play by the rules we did not create.”
Speaking with fervour, Hon. Cooper addressed the need for unity and the collective power to alter the course of history: “We were victims of history, but if we stand together, we have the power to change history by fostering connections that will see us stronger, more united than ever before.”
MINISTER FOR GRAND BAHAMA GINGER MOXEY ADDRESSES MEETING
We were honoured to hear from Hon. Ginger M Moxey, Minister for Grand Bahama, The Bahamas, during our recent session on “Realising Opportunities for Afri-Caribbean Trade in Creative and Cultural Products.” She beautifully articulated, “And while people come for the sun, sand and sea, what they really want is they want that experience. They want that culture, the arts, the craft. They want to know what it is we do, what we’re all about. And I consider that the orange economy, we place so much focus on it, that in our own platform, in our own blueprint for change, for how we govern the country, the orange economy plays a pivotal role. So, for me, it is who we are, what we do, how we act, and its what people come to the Bahamas for.”
Her insights remind us of the role that cultural and creative industries play in not only attracting tourism, but also in building a resilient economy. The focus on the orange economy helps preserve our heritage and promotes sustainable development.
