Across the Caribbean region, a transformative partnership between two leading development-focused organizations has marked a major milestone in supporting small and medium-sized business growth. Republic Financial Holdings Limited (RFHL) and the Caribbean Export Development Agency (Caribbean Export) have officially wrapped up the first phase of Project THRIVE, a landmark capacity-building program tailored to unlock the export potential and strengthen the financial footing of micro, small and medium enterprises (MSMEs) operating across the Caribbean.
Phase 1, branded as Business Capacity Building 1.0, drew 420 participating MSMEs from 14 distinct territories: Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Grenada, Grenada, Guyana, St Kitts and Nevis, St Lucia, St Maarten, St Vincent and the Grenadines, Suriname and Trinidad and Tobago. A standout demographic detail of the participating cohort is that 66% of all businesses are owned or led by women, a statistic that underscores both the program’s resonance with female entrepreneurs across the region and the growing ambition of women-led business communities to expand and scale. The group also represented a wide cross-section of key Caribbean industries, ranging from agriculture and agro-processing to manufacturing, retail, professional services and technology.
Delivered by the Cloud Vision Academy, Phase 1 was structured around five targeted core modules designed to address the most pressing gaps for MSMEs looking to enter or expand in global export markets. The modules cover Business Strategy and Planning, Grant Proposal Writing, E-commerce Essentials, Export Marketing, and Cost and Financial Accounting. Each module was led by industry subject-matter experts and delivered through three interactive virtual sessions, a format that allowed participants to immediately apply new skills and frameworks to their own business operations, rather than just engaging with theoretical content.
Participant feedback from Phase 1 has been overwhelmingly positive, with high levels of sustained engagement throughout the program and broad praise for the quality of expert facilitation and the real-world relevance of the curriculum. Building on this successful first phase, 50 participants selected from the top-performing 108 Phase 1 graduates will move forward to the program’s second stage: the Access to Finance Accelerator. This six-month intensive deep-dive development program will offer customized support including personalized business mentoring, one-on-one executive coaching, and targeted business development interventions designed to speed up growth and scale up export capacity. The Project THRIVE team will reach out to eligible participants in the coming week to share full details about the next phase of the initiative.
Richard S Sammy, Group Vice President of Republic Financial Holdings Limited, emphasized the broader significance of the partnership and the program in remarks following the completion of Phase 1. “Project THRIVE embodies our commitment to elevating our MSMEs. We are deeply encouraged by the outstanding participation and congratulate all participants on their success. When MSMEs thrive, entire economies thrive, and together with our valued partner Caribbean Export, we look forward to advancing Phase 2 and delivering tangible impact across the region,” Sammy said.
Damie Sinanan, Executive Director of the Caribbean Export Development Agency, echoed that sentiment, noting that the program aligns perfectly with the agency’s core mission. “Project THRIVE is precisely the kind of transformative, private-sector-led partnership that Caribbean Export was created to champion. The breadth of participation across territories — and the remarkable representation of women entrepreneurs — affirms that Caribbean businesses are ready to compete on a regional and global stage. We are proud to stand alongside Republic Bank in equipping the next generation of Caribbean exporters,” Sinanan added.