Pulse of the Caribbean

#86 Caribbean News Round Up Episode 3 Week of July 28

• Pulse of the Caribbean

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The Africa-Caribbean Trade and Investment Forum 2025 kicks off in Grenada with record attendance of 1,700 registrants and $290 million in deals signed on day one and other regional investments are underway in the region as highlighted in this episode of Pulse of the Caribbean News Roundup. 

  • Afrexim Bank signs agreements worth over $290 million including infrastructure projects in Bahamas and a Hilton hotel in Barbados
  • Guyana partners with Dominican Republic on large-scale cocoa and coffee production expected to create 3,000 jobs
  • Caribbean passports improve in global rankings with Barbados leading at #20
  • Dominican Republic sets new Guinness World Record with 1,226-pound mofongo 

Send news releases to news@pulseofthecaribean.com. If you have an interest in sponsoring our podcast, email us at  biz@pulseofthecaribbean.com.

Speaker 1:

This is the Pulse of the Caribbean Caribbean News Roundup. Now today's Caribbean News Headlines.

Speaker 2:

This podcast is brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Accommodations are now available. Register at VictoryRunWalkVIcom for the 5K, 10k and half marathon. Labor Day weekend, august 30th St Thomas, us Virgin Islands, and Diamond Key, marina, yosemite, british Virgin Islands, home of Foxy's Taboo and Gateway to the Bubbly Pool. A News Roundup Episode 3 for the week of July 28.

Speaker 2:

Here's a look at what's making Caribbean headlines. We start our report at the Ford Africa Caribbean Trade and Investment Forum 2025, taking place in St George's, grenada. The Trade and Investment Forum began on Monday, july 28,. Under the theme Resilient and Transformation Enhancing Africa Caribbean Economic Corporation in an Era of Global Uncertainty. Professor Benedict Orama, outgoing president and chairman of the board of directors at the Afrexim Bank, gave the keynote address, declaring the region's readiness to move from slogans to systems and unveiling a series of tangible milestones that signals stronger Africa-Caribbean economic and cultural integration. Integration, orama said in under four years, we've ratified the partnership agreement in 11 CARICOM countries, providing the bank a solid legal foundation to operate, support and invest in their economies.

Speaker 2:

Afrexim Bank announced five transformative deals worth over $290 million on day one of the forum, demonstrating its rising investment in Caribbean trade, enabling infrastructure and economic growth. Among the signings were a $50 million heads of term with the government of St Kitts and Nevis for an education, construction and rehabilitation climate link facility and a $40 million US public-private partnership with Gemini Integration Commodities Training Company Limited to build a modern commercial port New Bahamas. Transactions included a $100 million receivable discounting facility for the Bahamas Striping Group of companies to rehabilitate over 200 miles of road infrastructure and a $40 million facility with the Cat Island Infrastructure Company Limited for critical roadworks Under a Frexen Bank's Contour Tourism Link financing project. Speed Birdhouse Limited agreed to fund a 150-room Homewood Suites by Hilton in Bridgetown, barbados, for $61.25 million. The Afro-Caribbean Trade and Investment Forum 2025 will continue to hold panel discussions, corporate matchmaking sessions, cultural exhibits and agreements through Wednesday, july 30th. This edition of the Afro-Caribbean Trade and Investment Forum 2025 had the highest registration rate of all four editions, at 1,700. In other news from the Forum out of the Bahamas yesterday the African Export-Import Bank signed an agreement with the Bank of the Bahamas to function as a financial intermediary, holding funds dispersed by the African Bank to the Bahamas businesses. Minister of Grand Bahama, ginger Moxie, signed for the Bank of the Bahamas. The Bahamas Bank Managing Director, neil Strachan, who attended the African Caribbean Trade and Investment Forum, said the Bank of the Bahamas helped Bahamas Striping Group of Companies finance $100 million through this corporation with a Frexen bank.

Speaker 2:

Investment news from the forum in St George's, grenada, on Monday, aliko Dangote, the owner of Africa's largest oil refinery, suggested developing a Caribbean petroleum terminal in the Bahamas. On the first day of the forum, dangote spoke on the presidential panel and also suggested Grenada for a Caribbean petroleum terminal. Grenada for a Caribbean petroleum terminal. As one of Africa's most recognized leaders, the billionaire wants to help Caribbean nations to power their economies. Dangote praised his company's $2.5 billion investment in southern and eastern Africa. He also advocated for visa-free travel and better air connections to boost trade and investment between Africa and the Caribbean, emphasizing government support as Afrexim promotes African-Caribbean trade. Dangote said his company, which is poised to become the world's largest fertilizer and cement producer, can supply these ingredients for the Caribbean.

Speaker 2:

Now on to Guyana. On Tuesday, guyana's Ministry of Agriculture signed a historic deal with the Dominican Republic to grow large-scale cocoa and coffee in Region 1. Guyana's milestone initiative intends to plant 200 acres of coffee and cocoa to increase economic diversification, rural livelihoods and regional trade. Economic diversification, rural livelihoods and regional trade. The agreement promotes sustainable agriculture and technical collaboration and will help grow, process and market boat products, joint research and development, value-added production and trade facilitation in cocoa and coffee will also be possible. The project is expected to produce 8,000 metric tons of cocoa at peak. The effort is expected to create employment and economic prospects for over 3,000 people. This agreement is based on Guyana's President Dr Mohamed Ifrom Ali's Region 1 Agricultural Revival Strategy. President Ali stressed the region's agricultural potential and promised a 10,000-acre coffee plantation in 2024. Through strategic investment and thousands of cocoa trees, the government hopes to revive the Region 1 as a coffee producer Next up Caribbean passports growing and ranking among top passports around the world.

Speaker 2:

After this, st Thomas Virgin Islands Victory Run 2025 accommodations are now available After race registration. Book your stay and be the first occupants to stay at the Hamptons by Hilton, directly located at the start and finish line of Victory Run 2025. While around the bend and at the beach shore is the beautiful Westin Resort and connecting waterfront villas of the Bowie House. Both locations are family friendly and here to accommodate you with special rates, making your stay a breeze. As you gear up and get ready for St Thomas Victory Run 2025, usvi, take advantages of the special rates for accommodations now available through registration online with VictoryRunWalkVIcom. Sign up and book your stay now. This is the Pulse of the Caribbean News Roundup, episode 3, for the week of July 28.

Speaker 2:

The latest Henley Passport Index shows improved placing of Caribbean passports globally. In the July 2025 Henley Passport Index, barbados is ranked 20th, providing visa-free passports to 163 countries. The bahamas 21st, providing visa-free travel to 159. Saint vincent and the grenadines 24, providing visa free treat. Saint vincent and the grenadines 24, providing visa treat. St Vincent and the Grenadines 24, providing visa-free travel to 156. St Kitts and Nevis 25, providing visa-free travel to 154. Antigua and Barbuda 26, providing visa-free travel to 152. Trinidad and Tobago number 28, providing visa-free travel to 148 countries. Grenada 29th, providing visa-free travel to 147 countries. St Lucia 30th, providing visa-free travel to 146 countries. And Dominica at 32, providing visa-free travel to 143 countries.

Speaker 2:

The Henley Passport Index, which examines 199 passports and 227 travel locations worldwide, is a global mobility and policy reference. It shows passport visa-free travel strengths. It shows passport visa-free travel strengths. This ranking, update periodically with professional research, demonstrates the Caribbean's unique passport strengths and continued appeal to global travelers and investors. The top three most powerful passports this year are from Japan, south Korea and the EU, but the UK and the US slipped several points. The United States is placed in the 10th ranking this year. It was ranked first in 2014. And here's our final note A new Guinness World Record was set by Santiago de los Caballeros of the Dominican Republic, with the preparation of the largest mofongo in the world, which weighed 556 kilograms, or 1,226.8 pounds, in front of thousands of onlookers at Central Park.

Speaker 2:

Guinness judge Susan Reyes formally verified the record-breaking achievement. The historic occasion was held as part of the Santiago Inspira Cultural Forum, which aims to honor the solidarity, culinary heritage and national pride of the people of the Dominican Republic. In order to make this enormous take on a classic dish, more than 29 chefs and students of the culinary arts work together for hours. This podcast has been brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Accommodations are now available. Register at VictoryRunWalkVIcom for the 5K, 10k and Half Marathon.

Speaker 2:

Labor Day weekend, august 30th. St Thomas, us Virgin Islands and Diamond Key. Marina, yosvendike, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Have news or information you'd like to share with us? Send news releases to news at pulseofthecaribbeancom. If you have an interest in sponsoring our podcast, email us at biz B-I-Z at pulseofthecaribbeancom. This has been your Pulse of the Caribbean News Roundup, episode three for the week of July 28. Here's a shout out to our listeners in Trinidad and Tobago, kentucky and Ontario. Thanks for listening and do spread the word and share our podcast with others across the region and the diaspora. I'm Keisha Blyden. See you next time.

Speaker 1:

For more Caribbean news stories and information, visit us online at pulseofthecaribbeancom. If you found value in this podcast, be sure to like and subscribe wherever you listen to podcasts, and thank you in advance for choosing Pulse of the Caribbean Caribbean News Roundup as your source for Caribbean-centered news.