By Ayomide Otitoju
African Export-Import Bank (Afreximbank) has disbursed a US$100 million Receivables Discounting Facility to Bahamas Striping Group of Companies Ltd (BSGC) to finance the rehabilitation and construction of more than 200 miles of road infrastructure across The Bahamas.
The facility, provided under a Framework Agreement signed with the Government of The Bahamas on the sidelines of the 48th CARICOM Heads of Government Conference in Bridgetown, Barbados, in 2025, is aimed at supporting a nationwide infrastructure upgrade to enhance road safety, durability and connectivity across the archipelago.
Afreximbank acted as lender in the transaction, advancing funds tied to government-awarded contracts. The structure enables BSGC to accelerate project delivery and access upfront financing for completed and certified works, including asphalt paving, road striping, safety enhancements and maintenance across multiple islands.
Commenting on the development, Acting Chief Operating Officer of Afreximbank (CARICOM), Mr. Okechukwu Ihejirika, described the facility as a demonstration of the Bank’s commitment to supporting Global Africa partners through 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,” he said, noting that the initiative would drive sustainable development and economic opportunity.
Ihejirika added that the transaction builds on partnerships established during Afreximbank’s 2024 Annual Meetings and the AfriCaribbean Trade and Investment Forum held in Nassau, The Bahamas.
Executive Chairman of BSGC, Mr. Dominic Sturrup, expressed appreciation to Afreximbank, stating that the financing would strengthen the company’s capacity to deliver large-scale projects, support subcontractors and expand business opportunities.
Similarly, BSGC President, Mr. Atario Mitchell, said the receivables facility would enhance the company’s liquidity, enabling it to meet operational obligations, including staff payments, procurement of materials and expansion of activities across several islands.
The road projects are expected to boost tourism, trade and community access, while generating employment and supporting local economic empowerment. The initiative is also projected to strengthen The Bahamas’ competitiveness as a regional trade and tourism hub.
Founded in 2010, BSGC is a Bahamian-owned company that has delivered more than 200 projects across Nassau, Exuma and Eleuthera, employing over 300 people, including subcontractors.
