The African Export-Import Bank (Afreximbank) has committed $40 million in investment support for a landmark maritime infrastructure project led by Nigerian entrepreneur, Mrs. Aisha Maina. The project involves the development of a deep-water port in St. Kitts and Nevis and is expected to significantly enhance trade connectivity between Africa and the Caribbean.
The agreement was officially signed on July 28, 2025, during the Afreximbank Afri-Caribbean Trade and Investment Forum held in Grenada. The event witnessed the participation of key stakeholders including the Government of St. Kitts and Nevis, with Minister of Agriculture and Marine Resources, Samal Duggins, signing on behalf of the island nation, and Prime Minister Dr. Terrance Drew present as a witness.
Mrs. Maina, who also heads Gemini Integrated Commodities, described the project as a transformational step from “promise to throughput” and “talk to tonnage.” According to her, the development will slash shipping times between Lagos and Basseterre to just seven days, bypassing costly European routes and creating direct market access for African exporters.
The proposed port will include a Panamax berth and anchor a 10-square-kilometre special economic zone (SEZ) focused on agro-processing, bonded warehousing, and light manufacturing. Feasibility and environmental assessments for the port are scheduled to commence in August 2025, with financial close targeted for Q1 2026. The port’s first container is expected to dock by the fourth quarter of 2028.
In her address at the Caribbean Investment Forum in Kingston on July 30, Mrs. Maina emphasized the need for the private sector to lead such initiatives. “Retreat or defeat are not options. If we don’t lead, we’ll be left behind,” she stated.
She reinforced this point during her keynote speech at the Trans-Atlantis Trade and Investment Symposium in Trinidad on August 3, where she highlighted the crucial role of port infrastructure, SEZs, and financing in addressing challenges like youth unemployment, food insecurity, and limited export diversification.
The project is expected to create 600 direct jobs during construction and attract an estimated $300 million in additional private investment. For St. Kitts and Nevis, a nation with fewer than 60,000 residents, the port is positioned to transform the country into a logistics hub linking 19 African and 12 Caribbean Commonwealth nations.
Additionally, the facility will serve as a processing and redistribution hub, allowing African raw materials to be refined closer to North American markets, enhancing efficiency in regional supply chains.
This initiative builds on growing momentum from earlier events such as the Afri-Caribbean Investment Summit held in Abuja and a historic trade mission in June 2025, which saw over 120 Nigerian entrepreneurs and policymakers travel to Basseterre aboard an Air Peace Boeing 777.
Afreximbank’s investment reflects a broader strategic shift toward commercially driven infrastructure development in the Global South. By partnering with Gemini Integrated Commodities, the financial institution is placing execution responsibility on the private sector while facilitating impactful economic transformation across the Atlantic.
With this milestone project underway, Africa and the Caribbean are poised to enter a new era of trade cooperation, unlocking new value chains and boosting economic resilience in both regions.