Small businesses are emerging as the bridge between Africa and the Caribbean, transforming centuries of cultural connection into a new wave of trade and investment.
At the AfriCaribbean Trade and Investment Forum (ACTIF) 2025 in Grenada, the International Trade Centre (ITC) and the African Export-Import Bank (Afreximbank) showcased a dynamic group of entrepreneurs from both regions. Their message was clear: South–South trade is not a distant ambition it is happening now.
Despite deep historical ties, trade between Africa and the Caribbean remains minimal. Only 2.5% of Caribbean exports go to Africa and African exports to the Caribbean account for less than 0.5%. Experts say the shortfall is due to concentrated trade in a narrow set of products, high tariffs on processed goods, and inefficient transport networks not a lack of opportunity.
A joint ITC–Afreximbank analysis shows that with targeted investment and policy action, Africa–Caribbean trade could hit $2.1 billion in just five years. The greatest potential lies in value-added goods and services, from minerals and processed food to creative industries, travel and transport.
“ITC and the Afreximbank are gearing up to launch targeted interventions to boost exports, enable diversification and ensure small businesses have what they need to compete,” said ITC Executive Director Pamela Coke-Hamilton.
“Every delay or setback we face means leaving SMEs and their communities exposed to instabilities in the international trading system. Which is why strengthening AfriCaribbean trade ties and value chains, can’t wait.”
Six high-impact SMEs selected for ACTIF 2025 from digital technology to textiles engaged directly with buyers and investors. Many left with solid leads and new distribution prospects.
The companies are D’Market Movers Ltd. Wizdom CRM, Azure Gourmet Skincare, Belmont Estate, AB Care Medical Technology Company, Wakakosha AfriFusion and Ismast Trading SARL.
“Small businesses are the backbone of both our economies…and there are huge growth opportunities if the right sectors are prioritised,” said Pamela Coke-Hamilton.
The businesses were nominated by the Caribbean Private Sector Organisation (CPSO) and the Africa Business Council (AfBC), which have launched the Africa Caribbean Business Council (ACBC) to champion cross-Atlantic trade.
This year’s ACTIF attracted 2,106 delegates from over 80 countries, including 11 Heads of State, senior government leaders, top executives, artists and scholars. The strong turnout underscores growing political and business will to boost Afri–Caribbean commerce.
Following this launch, Afreximbank and ITC will develop in-depth profiles of sectors in the two regions to map out these five promising value chains and identify barriers to and requirements for, growth. The results of this analysis will be featured in a comprehensive report that will be published at the Fourth ACTIF in 2025.
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, reacting to the findings, said: “The report confirms the vast Africa-Caribbean trade and investment opportunities that remain untapped. It provides a strong validation of Afreximbank’s Caribbean Strategy. With a project pipeline of US$2.5 billion and an investment pipeline worth US$1.5 billion, the Bank has demonstrated its commitment to realizing opportunities across the two regions. The productive collaboration between Afreximbank and ITC is a testament to this, as it aims to bridge the knowledge gap and build capacity among small and medium-sized enterprises, which are critical for the growth of Africa-Caribbean trade and investment.”
Trade: A Vast, Underleveraged Opportunity
Despite enduring cultural links, current trade between Africa and the Caribbean remains minimal less than 3% of regional trade flows International Trade Centre. This presents a striking gap and a clear opportunity:
- Trade could soar from today’s US $729 million to around US $2.1 billion within five years if value addition, logistics, and tariff reforms are prioritized.
- More immediate gains could see African annual exports to the Caribbean increase by 54% (~US $171 million) by 2026, while Caribbean goods exports to Africa might grow by 29% (~US $80 million).
- Key growth sectors: minerals and metals; processed food and animal feed; creative industries; travel and transport.
ACTIF 2025: Deals, Dialogue and Dynamics
The forum generated over US $300 million in investment and trade agreements across sectors like infrastructure, tourism, digital transformation, and SME development. Highlights include:
- Receivables facilities, education-linked climate finance, hotel development loans, port infrastructure agreements, and digital services partnerships.
- Memoranda of Understanding (MoUs) with regional development banks and the Caribbean Telecommunications Union to streamline SME engagement and digital transformation.
What’s Next?
ACTIF’s momentum now shifts toward actionable outcomes:
- Deep sectoral analyses to shape investment pipelines.
- Continued reduction of trade barriers tariffs, logistics, digital access.
- Institutionalising trade paths, such as through a proposed Caribbean EXIM Bank and a Global Africa Commission to reinforce long-term cooperation.
Why It Matters
This initiative transforms the latent cultural ties linking Africa and the Caribbean into tangible economic growth, resilience and shared prosperity. By empowering SMEs, harmonizing systems and mobilizing capital, the regions are building a new template for South–South trade leadership.
