Afreximbank backs Bahamas road projects with $100 million facility
Afreximbank has committed US$100 million to the Bahamas Striping Group of Companies Ltd (BSGC) to fund road rehabilitation and construction across The Bahamas. The financing will support over 200 miles of essential infrastructure, enhancing transportation safety and durability while fostering commerce, tourism, and logistics.
The facility was disbursed under a Framework Agreement signed with the Government of The Bahamas during the 48th CARICOM Heads of Governments Conference in Bridgetown, Barbados, in 2025. The arrangement allows BSGC to receive advance funding for completed and certified works, including asphalt paving, road striping, safety improvements, and ongoing maintenance across multiple islands.
Structured finance drives regional development
Okechukwu Ihejirika, Acting COO of Afreximbank, CARICOM, described the transaction as a demonstration of the Bank’s commitment to developing trade-enabling infrastructure within Global Africa partners. “This facility represents an innovative approach to structured finance in cross-regional partnerships. By enabling these road rehabilitation projects, we are driving sustainable development and economic opportunities,” he said.
The US$100 million facility is tied to government-approved contracts, enabling BSGC to accelerate project execution, support subcontractors, pay employees, purchase materials, and expand operations. Dominic Sturrup, Executive Chairman of BSGC, highlighted that the arrangement strengthens their ability to deliver major projects efficiently while creating local economic impact.
Enhancing infrastructure and economic growth
According to Atario Mitchell, President of BSGC, the funding enhances operational planning and execution across multiple islands, improving road safety, connectivity, and accessibility. These works are expected to bolster tourism, trade, and local community empowerment, contributing to the long-term competitiveness of The Bahamas.
Founded in 2010, BSGC is a Bahamian-owned company with over 200 completed projects across Nassau, Exuma, and Eleuthera. The company employs more than 300 personnel, including subcontractors, and continues to play a pivotal role in national infrastructure and community development initiatives.
