Outgoing Afreximbank President: $250 million investment in Grenada

by Curlan Campbell

• Afreximbank has over $3 billion already mobilised and tangible projects under construction
• Afreximbank co-financing world class tertiary hospital in Grenada estimated at US$250 million
• Oramah proposed permanent commission to drive Africa–Caribbean and broader Global Africa initiative

At the opening of the AfriCaribbean Trade and Investment Forum (ACTIF2025), outgoing Afreximbank President and Chairman of the Board Professor Benedict Oramah announced a series of transformational investments across the Caribbean, with Grenada at the centre of the bank’s regional strategy. “Here in Grenada, we are co-financing a world-class tertiary hospital, estimated at a cost of about US$250 million, which we hope would convert the country into a regional hub for medical tourism,” Oramah said in his keynote address.

He also confirmed financing support for investments by the Orascom Group in luxury tourism, adding, “We are also financing investments by the Orascom Group in the luxury tourism, directly boosting Africa-Caribbean investments while supporting improvements in tourism infrastructure in the country.”

These projects are part of a broader $3 billion financing commitment to the Caribbean, with $2.5 billion in deals currently in the pipeline. Oramah emphasised the speed and scope of progress made in just 4 years since Afreximbank began strengthening its presence in the region. “With Jamaica having signed the Partnership Agreement a few weeks ago, 13 of the 14 independent Caricom Member States are participating… 11 of these have ratified the agreement providing the bank a solid legal foundation to operate, support, and invest in their economies.”

The president reflected on Afreximbank’s journey and his tenure, marking this forum as his final address in the role. “This year’s forum is significant to me personally as it marks the last time I would be addressing you on this platform as President of Afreximbank… What we have done so far is prove the concept, we now need to institutionalise it.”

Oramah proposed the creation of a permanent commission to drive the Africa-Caribbean and broader Global Africa initiative. “Such a commission should be sovereign, but still supported by Afreximbank, the Caricom, and the African Union,” he urged, calling for focused leadership on socio-cultural, creative, economic, and trade agendas.

Reflecting on Afreximbank’s mission, Oramah invoked a powerful historical metaphor: “The Atlantic Ocean once carried our ancestors in chains. As we look ahead, we must now transform it from a grave of memory into a gateway of prosperity.”

Afreximbank’s influence now spans major Caribbean economies, funding oil sector development in Suriname and Guyana, rebuilding schools in St Lucia, and financing creative industries from fashion and literature to culinary arts. The bank is also backing the development of a generative Artificial Intelligence hub at The University of the West Indies.

Oramah concluded with a heartfelt call to action. “We must shift from the era where our commodities build economies other than ours.” With over $3 billion already mobilised and tangible projects under construction, Afreximbank’s footprint in the Caribbean is rapidly expanding, leaving behind a legacy of tangible partnerships and a vision for shared prosperity.