By Baboloki Semele: In a bold move to strengthen economic relations between Africa and the Caribbean, Barbados has donated two hectares of land at a historic site in Bridgetown for the construction of the first Afreximbank African Trade Centre (AATC) outside of Africa. The centre, part of a broader initiative by the African Export-Import Bank (Afreximbank), is set to serve as a hub for trade facilitation, business empowerment, and economic diversification in the region.
During the groundbreaking ceremony, Prime Minister Mia Mottley defended the government’s decision, emphasizing that similar land donations had been made for over 50 years to institutions that contribute to the country’s economic and social development.
“The AATC isn’t just about commerce and business—it’s about laying down roots, strengthening trade ties, and opening new opportunities for Barbadians and Africans alike,” said Mottley. “This centre will not only bring investment and jobs to Barbados, but it will also provide a gateway for Afri-Caribbean trade, ensuring economic prosperity for both regions.”
The AATC will be built on land that previously housed Barbados’ first hospital for emancipated slaves, established in 1844. Mottley acknowledged the deep historical significance of the site, linking its past role in healing to its future as a hub for economic empowerment.
“This site has always been about prosperity, whether in health or trade. We are proud that this development will continue that legacy,” she noted.
Afreximbank President Professor Benedict Oramah lauded the project, describing the Barbados AATC as a crucial milestone in strengthening trade and investment flows between Africa and the Caribbean. He highlighted that the twin towers of the AATC will symbolize the region’s new role as a logistics hub, much like Barbados’ historical role during the transatlantic trade era.
“By hosting African and Caribbean businesses under one roof, this centre will revolutionize trade connectivity, providing a platform for collaboration, networking, and investment,” said Oramah.
The 12-storey twin towers will include office spaces, a hotel to bolster Barbados’ tourism sector, tech and SME incubation hubs, and a Digital African Trade Gateway. The facility will also feature a conference and exhibition centre linked to similar AATCs in Nigeria, Zimbabwe, Egypt, Uganda, Côte d’Ivoire, and Cameroon.
With a projected investment of US$180 million, the AATC is expected to create 1,000 direct and indirect jobs during its construction phase and around 300 permanent positions once operational. The project will also support nearly 50 small and medium enterprises (SMEs) by subcontracting construction materials, services, and labor.
Beyond job creation, the AATC is expected to significantly boost trade between Africa and the Caribbean. Afreximbank has expanded its credit limits for CARICOM from US$1.5 billion to US$2.5 billion, aiming to accelerate two-way trade flows and enhance business expansion in the region. Oramah expressed hope that the Barbados AATC would not only serve as a trade hub but also lay the groundwork for the establishment of a Caribbean Export-Import Bank, further solidifying economic ties between Africa and the Caribbean.
Mottley reiterated that Barbados remains committed to strategic partnerships with international and regional institutions, reaffirming its role as a forward-looking, sovereign state focused on sustainable development and economic growth.
As the construction of the AATC progresses, the project is set to redefine Barbados’ role in global trade, bridging historical ties with Africa into modern economic cooperation. The initiative stands as a testament to the country’s ambition to be at the forefront of a new era of Afri-Caribbean relations, driving inclusive growth and shared prosperity.