During the 2026 Afreximbank Roadshow held at Nassau’s Baha Mar Convention Center last Friday, a senior executive from the pan-African export finance institution confirmed that a planned luxury hotel development in The Bahamas has successfully passed the first phase of the bank’s credit assessment process, bringing the transformative tourism project one step closer to full approval.
Okechukwu Ihejirika, Chief Operating Officer of Afreximbank’s Caribbean regional office, shared new details about the initiative with reporters on the event’s sidelines, confirming that the proposed development is earmarked for a private island in Abaco, rather than the country’s most populous main island of New Providence. While Ihejirika declined to disclose the identities of the project developers or the exact size of the financing request, he noted that the project is designed to boost international tourist arrivals to The Bahamas and unlock the untapped economic potential of the country’s world-renowned tourism sector.
The proposal has cleared the first of up to three sequential credit approval levels required by the bank, Ihejirika explained. The next phase of the process will involve comprehensive technical and financial due diligence, after which the proposal will advance to second and third-level credit reviews. According to Ihejirika, the final approval stage moves at a rapid pace, and full formal approval and a public announcement could come in the near term, with disbursement of funds following quickly after second-level approval is granted. “We’re advancing pretty well,” he said. “We hope that very soon we will be able to make the announcement that we are going ahead with that project.”
The hotel project marks one of a growing pipeline of private-sector investment initiatives Afreximbank is pursuing in The Bahamas, as the institution expands its regional footprint and diversifies its portfolio beyond government-backed infrastructure projects. Just last year, the bank approved and signed a $200 million infrastructure financing facility with the Bahamian government, and Ihejirika confirmed that the total value of projects currently in the country’s pipeline nears $500 million, with the new hotel proposal separate from previously announced commitments.
“As an institution, we don’t only work with government. We also work with the private sector. That means we also have a few private sector led initiatives that we are also engaging on,” he added.
The 2026 Afreximbank Roadshow was organized to connect the bank directly with Bahamian business leaders, raise awareness of the institution’s growing regional presence, and walk local enterprises through the range of financing products and support services it offers. Though Afreximbank has operated in the Caribbean for roughly two years and held its global annual meetings alongside the Afro-Caribbean Trade and Investment Forum in The Bahamas in 2024, the institution remains relatively new to the region, with a $5 billion total regional financing cap to support trade and development across Caribbean economies.
Afreximbank’s strategic partnership with The Bahamas was formalized through a 2023 Memorandum of Understanding, and has already delivered tangible benefits for the country’s economic development priorities, Prime Minister Philip “Brave” Davis told roadshow attendees. Beyond infrastructure projects, the partnership has delivered a $30 million lending facility via the Bahamas Development Bank to expand access to capital for local small and medium-sized enterprises, a core priority for the Davis administration.
“One of the key priorities for The Bahamas moving forward is the creation of even more pathways to opportunity for local entrepreneurs, especially small business owners. Economic growth must translate into broader economic participation, ensuring that more Bahamians have the chance to build businesses, create jobs, and share in the country’s progress,” Davis said. “We have made some progress in this area, but continuing to strengthen access to capital through institutions such as the Afreximbank is an important part of our ongoing efforts. This roadshow also reminds us of the importance of regional and international cooperation at a time when many economies are navigating uncertainty.”
Several large-scale Afreximbank-backed projects are already underway across The Bahamas’ out islands, known locally as the Family Islands. A $40 million financing facility supports Cat Island Infrastructure Company’s broad connectivity and development project, scheduled for full completion by August 2027. The first phase of that project, targeted for completion this coming January, includes laying 94 miles of new water mains, paving 50 miles of new roadway, and restoring an additional 45 miles of road damaged during water infrastructure construction.
Other active commitments include a $100 million financing facility to support the expansion of local construction firm Bahamas Striping Group, which is currently carrying out 226 miles of road works across Exuma and Eleuthera, and a $200 million framework agreement focused on developing climate-resilient infrastructure that supports increased regional trade.