1st ever African Union/ Caricom Summit 09/07/21

[Bunchy Carter]

All these black people and then I spot some random white guy up top.

He's Black.......That's just the flash

 

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All these black people and then I spot some random white guy up top.

Not some random white guy. His name is under his photo. He is Jamaican born, and the CEO of the Sandals Resort Company.

The conference brought together power brokers from the islands , the continent, and their diaspora communities.

 

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Imagine we all link up.

Like minded Black people from different regions and ethnic backgrounds have and will always link up.
Businessmen, and their counterparts, artists and their counterparts, statesman, religious leaders, athletes, etc. Water seeks it's own level.

 

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Ghana, Barbados leverage ties for economic benefits

Ms Mottley (middle in white dress) with dignitaries at the programme
Ghana, the host country to the African Continental Free Trade Area (AfCFTA) and Barbados, the single market to the Caribbean, have initiated steps to leverage on their age long ties to increase trade and investment in their respect countries.

The move is aimed at harnessing the opportunities and commercial advantages in each country for mutual economic gains.

To this end, the Ghana Investment Promotion Centre (GIPC) on Monday, March 7, hosted the Barbados Prime Minister and her entourage in Accra to a business forum.

Dubbed, “Ghana-Barbados Roundtable,” the forum, presented the entourage, the opportunity to interact with some private sector players on ways it could help the Island community tap into the trade and investment opportunities in Ghana.

Areas that both countries are seeking to explore include agriculture, tourism, music, finance, health biotechnology, renewable energy,sports, Information and Communication Technology (ICT), and digital technology, life sciences, aviation, and logistics.

Ghanaian private sector businesses that participated in the forum are Goldstar, represented by Group Chief Executive Officer, Eric Bannerman, Air, CAL Bank, MEST, IT Consortium, Hubtel, ExpressPay, Tobinco Pharmaceutical Limited (TPL), Ernest Chemists Limited (ECL), McDan Shipping, LMI Holdings, Ghana Tourism Authority, ERA Group, Association of Ghana industries, Alisa Hotel, SIC Life, Phoenix Capital Group and Obsidian Archenar.

Speaking at the forum, the Prime Minister of Barbados, Ms Mia Amor Mottley,said enormous opportunities abound for her country to benefit on the African continent, particularly, Ghana, through the AfCFTA.

On the other hand, she said Ghana and other African countries could also use Barbados as the pivot to reach Caribbean countries for economic gains.

“I genuinely believe that there are several investment opportunities for both countries, opportunities to trade are great given the diversity of the businesses (private sector) I see sitting around this table,” she said.

Ms Mottley, noted that currently, Africa had a youth population and labour force, which could propel economic growth that no other continent in the world had.

The Ambassador of Barbados to the Caribbean Community (CARICOM), Mr David Commissiong, emphasised that there were trade and commercial opportunities which could be capitalised on to deepen trade relations between the two countries.

He said Barbados would establish stronger ties with Ghana to engender business development and commerce, and said, the establishment of their Embassy and a Commercial Attaché in the country was an evidence of the new trade direction.

For his part, the Deputy Chief Executive Officer (CEO) of the GIPC, Mr Yaw AmoatengAfriyie, reiterated that the AfCFTA Secretariat in Ghana would serve as a point of entry for Barbadian businesses to enter the markets of other African Countries.

He said: “We should not lose sight of the fact that Ghana is home to the AfCFTA Secretariat, which provides excellent commercial springboard for Barbadian, Caribbean and other companies into a market of about 1.3 billion people.”

The Greater Accra Regional Chairman of the Ghana Association of Industries (AGI), MrTsonam Cleanse Akpeloo, said through the partnership between Ghana and Barbados, the two countries would help in the facilitation of trade in Africa and the Caribbean

 

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Barbados, Rwanda Strengthen Ties with Pres. Kagame’s Visit

April 18, 2022

The President of the East African nation of Rwanda, Paul Kagame, has hailed the relationship with Barbados as both countries seek to strengthen ties in several areas.

Kagame, who arrived in Barbados late Friday for an official one-day visit, said the deepening ties have led to discussions related to travel and visa waivers for both countries.

Speaking during a press conference on Saturday he noted that direct travel between Africa and the Caribbean is critical as there is a huge interest in persons from Africa connecting with the region.

“We are already too late in a sense, but it is never too late to connect to make friends and partnerships, so we definitely want to do that…” Kagame said.

Prime Minister Mia Mottley, who also pointed to the relationship with Rwanda said the partnership is one that can pay dividends in the fight against COVID-19.

The Prime Minister said she was particularly interested in the establishment of a COVID-19 manufacturing plant in the African nation.

Mottley then announced that Minister of Industry, Science, and Technology Davidson Ishmael will be traveling to Rwanda with the hope of expanding investment opportunities.

Last year, Rwanda announced it would house a vaccine manufacturing plant using the mRNA technology of the German start-up BioNTech, which co-developed the Pfizer COVID-19 vaccine. It is hoped that the construction starts no later than mid-2022.

“Our first interest of course is in seeing what potential there is with the vaccine manufacturing entity that Rwanda is establishing, recognizing that the vaccine for COVID is just one small commodity of what that manufacturing capacity can be for.”

The Prime Minister also said the partnership will result in a significant boost in Barbados’ technology and sciences sector.

“Barbados has produced 6,000 graduates in the area of science from the Cave Hill Campus of the University of the West Indies here in the last five years and while there is absolute mobility in teaching, we recognize that that is not the only purpose that people would want to use a science degree and therefore we have a solemn obligation to being able to build a platform for biotechnology and ICT and science and technology generally.”

“Against that backdrop, we have agreed this morning to the signing of the Cooperation Agreement to a number of things. Our two countries had a Double Taxation Agreement that was signed some years ago with the ratification I was told is now in place. We will start discussions towards a Bilateral Investment Treaty as well as towards a Multilateral Air Services Agreement. I think all of us agree and we are coming closer I hope to its resolution that there must be air connectivity between the continent of Africa and the Caribbean region…”

Kagame, who just concluded a three-day official visit to Jamaica, said Mottley will visit Rwanda in June as the African nation celebrates 60 years of political independence.

He will also be hosting the Commonwealth Heads of Government Meeting (CHOGM) in June, with delegates from the 54 members states in attendance

 

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JSE Partners With Ghana Stock Exchange

May 2, 2022

Managing Director of the Ghana Stock Exchange (GSE), Peterson Ekow Afedzie (second left), rings the bell to signify the official opening of the Jamaica/Ghana market during a special Bell Ringing ceremony.


The Jamaica Stock Exchange (JSE) has entered into a partnership with the Ghana Stock Exchange (GSE), which will see the capital markets of Jamaica and Ghana expanding their products and services to investors in both countries.

This is being facilitated under a Memorandum of Understanding (MOU) of Mutual Recognition, which was signed by representatives of both entities during a special Bell Ringing ceremony on Monday (May 2) at the JSE’s Harbour Street offices in Kingston.

Managing Director of the JSE, Dr. Marlene Street Forrest, who signed the document along with Managing Director of the GSE, Peterson Ekow Afedzie, thanked the GSE for making the journey to Jamaica, “as it further cements our objective of strengthening our linkages and improving our relationship with what we consider to be another area of our diaspora connection – the South-South connection”.

Dr. Street Forrest noted that the JSE continues its drive to diversify and widen its participation in not only local and regional markets but international markets as well, and the relationship with Ghana is strategic as the entity pursues its 2025 vision to expand its borders for growth and sustainability.

“We continue this journey of executing our 2025 strategic mission by going further afield to Africa, starting with Ghana where our people are similar. This is also in pursuit of the initiative to the benefit of both GSE and the JSE, because we feel that we can work together to ensure that there is wealth creation, that there is further development of our markets,” she added.

Dr. Street Forrest further noted that the JSE has been collaborating well with many of its sister exchanges within the Caribbean and with exchanges in North America, the United Kingdom (UK) and other countries across the world.

She noted that through the MOU, the JSE is now commencing its push into the African continent, starting with Ghana, pointing out that Africa, like the Caribbean, is the new frontier for growth and development.

The Managing Director noted that there are certain commonalities that make the alliance with Ghana ideal, pointing out, for example, that like Jamaica, Ghana has a growing, young, educated middle-class population that has a high demand for goods and services.

“Therefore, over the next several years, many companies globally, I believe, will be setting up industries and companies in Africa and the Caribbean. I believe as a stock exchange we are perfectly poised to benefit from such expansion,” she said.

She said the JSE is also of the belief that an alliance with the GSE is a starting point in building alliances with other countries in Africa and to explore collaborations and cooperation on the continent.

“We have 50 years of experience; Ghana has [had its] exchange for 30 years, but we believe that we can leverage both experiences for the benefit [of both parties]. There is sufficient commonality for mutual understanding, collaboration and growth, and this will help to flesh out those areas of cooperation and set a path for a closer relationship, which we hope will benefit our exchanges… and deepen our ties across the continent,” she said.

In his remarks, Mr. Afedzie noted that the MOU signing is historic for many reasons, including the fact that this is the first time Jamaica has signed an agreement in the African stock market.

“It is also historic for Ghana because it’s the first time we are also reaching out to the Caribbean,” he said.

Mr. Afedzie noted that the GSE is excited about the collaboration “that we believe will last for a very long time. That collaboration [has led] to us signing an MOU, which I hope, and I believe, will lead to us having cross-listers where we can have companies from Ghana listing on the JSE and vice versa”.

“We believe that this collaboration can lead to further development of our economies; it can lead to us collaborating in terms of the broader economies and, therefore, we also know that this collaboration will lead to exploration of various investment opportunities across Jamaica and Ghana,” he added.

 

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The African and Caribbean Development Banks sign MoU to expand trade, investment, and agriculture

AfDB, CDB move to deepen Africa, Caribbean cooperation, sign MoU June 18, 2022 Economic ties between Africa and the Caribbean are taking a strong upward turn as both regions’ premier financial institutions – the African Development Bank (AfDB) and the Caribbean Development Bank (CDB) – came...

www.thecoli.com

 

[RedCloakBlackWraithe]

 

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[Nkrumah Was Right]

 

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December 26, 2022

Afreximbank Board approves $1.5 billion funding for Caribbean countries​

​

The Board of Directors of African Export-Import Bank (Afreximbank) has approved US$1.5 billion funding to enable member states of the Caribbean Community (CARICOM) that have ratified the Partnership Agreement with Afreximbank to tap into the Bank’s various financial instruments.
This Board approval follows the accession of nine CARICOM member countries to the Afreximbank Partnership Agreement which was launched on 1 September 2022, at the first Africa-Caribbean Trade and Investment Forum (ACTIF) held in Bridgetown, Barbados.
Recently ratified by Barbados and in the process of being ratified by the other eight signatories, the treaty remains open for accession to the six CARICOM members that have yet to sign.
Upon accession to the agreement, CARICOM member countries become Participating States in Afreximbank, conferring on the Bank the same privileges and immunities that it enjoys in the African Participating States that acceded to its Establishment Agreement. It unlocks the commencement of Afreximbank’s operations in the Caribbean.
The Partnership Agreement between Afreximbank and the constituent countries of CARICOM consolidates the Bank’s efforts to promote and develop South-South trade and specifically trade between Africa and the Caribbean in line with its Diaspora Strategy.
Afreximbank defines intra-African trade as the flow of goods and services between or among African countries as well as the flow of goods and services between Africa and Africans in the Diaspora.
The US$1.5 billion financing approved by the Board of Directors of Afreximbank enables CARICOM countries to access the Bank’s financing instruments through financing facilities that support various identified economic sectors including tourism, healthcare, renewable energy, shipping, mining, agriculture and agribusiness, air links, and aquaculture.
Afreximbank will also work to support local financial institutions to source finance for SMEs. These key sectors were identified following several Afreximbank-led business development and trade and investment promotion missions to the Caribbean

 

[Wiseborn]

December 26, 2022

Afreximbank Board approves $1.5 billion funding for Caribbean countries​

​

The Board of Directors of African Export-Import Bank (Afreximbank) has approved US$1.5 billion funding to enable member states of the Caribbean Community (CARICOM) that have ratified the Partnership Agreement with Afreximbank to tap into the Bank’s various financial instruments.
This Board approval follows the accession of nine CARICOM member countries to the Afreximbank Partnership Agreement which was launched on 1 September 2022, at the first Africa-Caribbean Trade and Investment Forum (ACTIF) held in Bridgetown, Barbados.
Recently ratified by Barbados and in the process of being ratified by the other eight signatories, the treaty remains open for accession to the six CARICOM members that have yet to sign.
Upon accession to the agreement, CARICOM member countries become Participating States in Afreximbank, conferring on the Bank the same privileges and immunities that it enjoys in the African Participating States that acceded to its Establishment Agreement. It unlocks the commencement of Afreximbank’s operations in the Caribbean.
The Partnership Agreement between Afreximbank and the constituent countries of CARICOM consolidates the Bank’s efforts to promote and develop South-South trade and specifically trade between Africa and the Caribbean in line with its Diaspora Strategy.
Afreximbank defines intra-African trade as the flow of goods and services between or among African countries as well as the flow of goods and services between Africa and Africans in the Diaspora.
The US$1.5 billion financing approved by the Board of Directors of Afreximbank enables CARICOM countries to access the Bank’s financing instruments through financing facilities that support various identified economic sectors including tourism, healthcare, renewable energy, shipping, mining, agriculture and agribusiness, air links, and aquaculture.
Afreximbank will also work to support local financial institutions to source finance for SMEs. These key sectors were identified following several Afreximbank-led business development and trade and investment promotion missions to the Caribbean




As part of its twinning initiatives, and investment promotion activities, Afreximbank is also working to introduce
CARICOM investors and financial institutions to opportunities in all sectors across Africa, while exposing African investors to investment opportunities in key sectors identified in CARICOM countries.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commented: “This approval by our Board of Directors of US$1.5 billion in funding is another giant step in the historic reconnection we are successfully forging
between Africa and the Caribbean. Afreximbank is now all set to operate in the CARICOM member countries which we are pleased to welcome as Participating States in the Bank. We look forward to having all CARICOM members on board to maintain the extraordinary momentum we have been building since we met at the Africa-Caribbean Trade and Investment Forum in September 2022, and to respond together, through trade, to the development needs of the people of both our regions.”

progess

 

[3rdWorld]

 

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* 6 minute clip

CARICOM Day 2 -

ZNSNetwork​

Feb 16, 2023
CARICOM Day 2 - February 16th, 2023* Interview with Bahamas Minister of Economic Affairs, Michael Halkitis. Speaks about intra-Caribbean and cross regional trade and finance, and the Afreximbank dealings with Caricom countries