Prime Minister of Jamaica and current CARICOM Chair Dr. Andrew Holness has called for a deepened partnership between Africa and the Caribbean, emphasizing that the two regions must transform their shared history into a shared and prosperous economic future.
Speaking at the opening of the Africa-Caribbean Symposium and African Village at the Half Moon Conference Centre in Montego Bay, St. James, Holness underscored the urgent need for meaningful South-South cooperation. “This symposium represents not only a celebration of our cultural talents, but a call for renewed and pragmatic South-South cooperation,” he told attendees.
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Holness pointed out that despite Africa’s combined GDP of approximately US$2.8 trillion and its status as home to 11 of the world’s fastest-growing economies, CARICOM’s trade with the continent remains less than one percent. He urged that the long-standing goodwill between the regions must now be converted into tangible strategic action. “We are united not only by a common past, but by a future rich in opportunity. Let us move from goodwill to strategic action, from symbolism to sustained economic and cultural bridges,” he said.
Jamaica has recently signed a partnership agreement with the African Export-Import Bank (Afreximbank), securing a US$1.5 billion credit limit aimed at boosting trade, investment, and the development of the CARICOM Single Market and Economy (CSME). Holness described the agreement as a significant step toward realising the region’s potential through targeted collaboration.
Professor Benedict Oramah, President and Chairman of the Board of Afreximbank, echoed Holness’s sentiments, commending the signing as a meaningful stride toward long-term development. He stressed that the partnership is not only about acknowledging shared heritage but also about building a future of economic empowerment, cultural unity, and sustainable progress. Oramah revealed that Afreximbank has already approved or is implementing close to US$1 billion out of a US$2.5 billion project pipeline in the Caribbean. These projects span a range of sectors including tourism, infrastructure, ports, and the creative industries.
“For too long, we’ve relied on external aid, even when history teaches us that sustainable development is driven internally,” Oramah stated, emphasizing the need for self-reliance and intra-regional investment.
He also announced upcoming plans for a Caribbean Payment and Settlement System, which will be modeled after Africa’s platform to enable local currency trade between nations, reducing dependence on foreign exchange and facilitating easier transactions across the diaspora.
Oramah concluded with a powerful appeal to unity, declaring that the over two billion people of African descent must mobilize as a “formidable economic and cultural force.” Drawing on the legacy of icons such as Nelson Mandela and Bob Marley, he said, “Let Mandela’s hope and Marley’s love guide us to a future where our economies thrive, our youth innovate, and our cultures conquer the world.”
The symposium forms part of the wider CARICOM Summit agenda, which seeks to reposition the Caribbean region as a dynamic partner on the global stage and deepen its ties with the African continent through investment, innovation, and cultural exchange.
