BRIDGETOWN, Barbados, Nov 10, CMC – Barbados and its Nigerian partners, working with the African Export-Import Bank (Afreximbank), are advancing a multi-million dollar pharmaceutical manufacturing project strengthening Africa–Caribbean industrial cooperation and regional health security.
The US$32 million project is intended to establish an intravenous (IV) fluids manufacturing facility in Barbados, with an initial annual capacity of 12 million units with scope for expansion. Additional pharmaceutical products could follow, subject to technical, commercial and regulatory assessment. The facility will support access to essential products, skilled employment and regional trade.
The proposed IV fluids facility forms part of Barbados’ wider pharmaceutical development programme. The project was advanced through agreements signed during the just concluded Commonwealth Heads of Government Meeting (CHOGM) 2026 in Antigua and Barbuda, and is a joint venture of the Barbados and Nigerian governments, the Barbados Pharmaceutical Inc. (BPI), the Nigerian pharmaceutical manufacturer, AMA Medical Manufacturing and the Egypt-based Afreximbank.
A statement from the Office of the Prime Minister said that the project has received initial support from the World Trade Organization (WTO) Secretariat, which envisions it as a catalyser for trade through enhanced regulatory frameworks for the diversification of the production of essential medical products, including in the Caribbean, as well as encouraging South–South and triangular partnerships for growth, development and job creation.
The announcement saw the signing of a memorandum of understanding (MoU) between BPI and AMA Medical Manufacturing, and a project preparation facility term sheet between AMA and Afreximbank, marking the first step in a proposed comprehensive financing solution for the project.
The proposed financing solution would combine preparation support with senior debt, working capital and risk-bearing instruments to help bring the facility into operation. Production is targeted to commence in 2029.
Barbados Prime Minister Mia Amor Mottley has welcomed the initiative as a step towards economic resilience and practical Africa–Caribbean cooperation.
“Barbados may be a small island state, but our ambitions for our people and our region are not small. This partnership represents the determination of African and Caribbean nations to build productive capacity, strengthen our health security and create opportunities that will endure for generations.
“It is also a powerful expression of what becomes possible when we recognise our shared history and choose to shape our future together,” she said.
Commander of the Order of the Niger (CON), George Akume, who is also Secretary to the Nigerian Government (SGF), Nigeria, said Nigeria’s partnership with Barbados reflects “our commitment to deepening economic cooperation between Africa and the Caribbean through practical industrial initiatives.
“By bringing together Nigerian manufacturing expertise and Caribbean investment opportunities, we can strengthen healthcare production, expand trade and create new pathways for technology exchange and skills development, amplifying the potential of South–South cooperation.”
Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, highlighted the importance of trade, investment and South–South cooperation in diversifying pharmaceutical supply chains, strengthening health security and creating opportunities for industrial development.
“We are delighted to see this partnership taking shape, and to have been part of the journey. This is reglobalisation in action. The COVID-19 pandemic exposed the risks of concentrating essential medical production in too few countries.
“This partnership demonstrates how trade and investment can help expand production, connect the capabilities of Africa and the Caribbean, and deepen South–South and triangular cooperation. By expanding pharmaceutical manufacturing, it strengthens supply chain resilience while creating new opportunities for growth, development and industrial capacity,” she added.
Afreximbank’s senior executive vice-president, Denys Denya, said the financial institution’s partnership with the Caribbean gained momentum during the COVID-19 pandemic, when it worked with African and Caribbean partners to facilitate access to vaccines.
She said that cooperation developed into a broader partnership to turn our shared history into stronger trade, investment and productive capacity across Africa and the Caribbean.
“This project carries that ambition forward: Nigerian manufacturing expertise and investment in Barbados can help the Caribbean build local production of essential medicines, strengthen health sovereignty, transfer technology and create skilled jobs.
“Our intention is to provide a comprehensive financing solution, beginning with the Project Preparation Facility and extending to senior debt, working capital and risk-bearing instruments; deepening trade between our regions while helping CARICOM build more resilient medical supply chains,” Denya said.
The partnership initially focuses on IV fluids, an essential product across healthcare systems.
AMA Medical Manufacturing brings Nigerian manufacturing expertise; BPI is developing a pharmaceutical industry in Barbados serving regional and international markets.
The proposed Project Preparation Facility (PPF) is the first stage of Afreximbank’s intended financing support. It would support the technical, commercial and financial assessments needed to establish viability, define the financing structure and prepare the project for investment.
Chairman of AMA Holdings, Abdullahi Musa Bello, said the partnership represents an opportunity to bring established Nigerian manufacturing capabilities into a new market while contributing to the development of pharmaceutical production in the Caribbean.
“Our focus is on building a commercially viable operation supported by strong technical expertise, reliable supply chains and sustainable market opportunities. We believe that cooperation between African and Caribbean enterprises can create lasting industrial value for both regions. We are grateful to the Governments of Barbados and Nigeria and Afreximbank for making this partnership happen, with the support of the WTO Secretariat.”
For his part, Dr. Cindi Lewis, the acting chief executive officer of Barbados Pharmaceutical Inc, noted that for generations, Africa and the Caribbean have shared a history.
“What excites me about this partnership is the opportunity to build a shared future, one that creates lasting opportunities for our people. AMA brings manufacturing experience and Afreximbank brings project preparation and a holistic financing approach. Our job now is to do the technical and financial work carefully, so that what is agreed in St John’s becomes production in Barbados.”
The facility is intended to provide a platform for broader pharmaceutical industrial development, alongside work on skills, regulation, investment and market access.
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