The African Export-Import Bank (Afreximbank) has announced a US$100 million Receivables Discounting Facility for Bahamas Striping Group of Companies Ltd (BSGC), marking a major step in modernising the Caribbean nation’s transport infrastructure. The funding will support the rehabilitation and construction of more than 200 miles of critical road networks across The Bahamas.
The facility, disbursed under a Framework Agreement signed with the Government of The Bahamas during the 48th CARICOM Heads of Government Conference in Bridgetown, Barbados in 2025, is expected to accelerate national infrastructure projects aimed at creating safer, more durable roads that enhance commerce, tourism, and logistics throughout the archipelago.
Afreximbank provided the facility through government-backed contracts, allowing BSGC to expedite project delivery and access advance funding for completed and certified works. These include asphalt paving, road striping, safety improvements, and routine maintenance across multiple islands.
Commenting on the initiative, Okechukwu Ihejirika, Acting COO of Afreximbank, CARICOM, said the funding reflects the bank’s “steadfast commitment to supporting Global Africa partners in developing trade-enabling infrastructure.”
“This facility represents an innovative approach to structured finance in cross-regional partnerships and aligns with our mandate to foster a connected Global Africa that encompasses CARICOM. By enabling these extensive road rehabilitation works, we are driving sustainable development and enhanced economic opportunities,” he added.
Mr Ihejirika also highlighted Afreximbank’s ongoing commitment to partnerships established at the Bank’s 2024 Annual Meetings and the AfriCaribbean Trade and Investment Forum in Nassau, noting that the transaction follows the Framework Agreement with the Bahamian government.
“We are grateful to Afreximbank for standing with us through every stage of the process, and we are proud that this transaction strengthens our ability to execute major projects, support our subcontractors and vendors, and scale opportunities,” said Dominic Sturrup, Executive Chairman of BSGC.
Atario Mitchell, President of BSGC, explained that the US$100 million receivables factoring facility will allow local companies to meet financial obligations, including paying staff, purchasing materials, and expanding operations.
“This facility gives BSGC the ability to move faster, plan better, and execute with even greater reliability across multiple islands,” said Mr Mitchell.
The government-backed facility directly supports improvements to road networks, including paving, striping, and maintenance, which are vital for tourism, trade, and community access. The initiative is also expected to generate employment, empower local communities, and contribute to sustainable economic growth, reinforcing The Bahamas’ competitiveness as a trade and tourism hub.
Founded in 2010, BSGC is a Bahamian-owned company that has completed over 200 projects across Nassau, Exuma, and Eleuthera, employing more than 300 people, including subcontractors.
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