Afreximbank backs Nigeria-Barbados US$32M pharmaceutical manufacturing initiative in Barbados
The proposed investment will establish an intravenous (IV) fluids manufacturing facility in Barbados, with an initial annual production capacity of 12 million units and scope for future expansion.
BARBADOS–Nigeria, Barbados, and the African Export-Import Bank (Afreximbank) have advanced a US$32 million pharmaceutical manufacturing project in Barbados to expand local medicine production and strengthen healthcare supply chains between Africa and the Caribbean.
The proposed investment will establish an intravenous (IV) fluids manufacturing facility in Barbados, with an initial annual production capacity of 12 million units and scope for future expansion.
The project moved forward following agreements signed on the sidelines of the 2026 Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda.
The partnership brings together the governments of Nigeria and Barbados, Barbados Pharmaceutical Inc. (BPI), Nigerian manufacturer AMA Medical Manufacturing and Afreximbank.
BPI and AMA signed a memorandum of understanding, while AMA and Afreximbank concluded a Project Preparation Facility (PPF) term sheet to initiate preparations for financing.
The proposed financing package will combine project preparation support, senior debt, working capital and risk-bearing instruments.
Production is targeted to begin in 2029, subject to feasibility studies, financing, regulatory approvals and construction.
Africa and Caribbean expand pharmaceutical cooperation
Barbados Prime Minister Mia Amor Mottley described the initiative as an opportunity to strengthen economic resilience and industrial cooperation between the two regions.
She said the partnership reflected Caribbean and African countries’ ambition to build productive capacity, improve health security, and create employment opportunities.
Nigeria’s Secretary to the Government of the Federation, Senator George Akume, said the project aligned with Nigeria’s efforts to deepen economic relations with Caribbean countries through industrial investment.
He noted that combining Nigerian manufacturing expertise with Caribbean investment opportunities could expand pharmaceutical production, encourage technology transfer and develop technical skills.
World Trade Organization (WTO) Director-General Dr Ngozi Okonjo-Iweala also welcomed the agreement, describing it as an example of trade-led South-South cooperation and pharmaceutical supply chain diversification.
She recalled that the COVID-19 pandemic exposed the risks of concentrating essential medical manufacturing in a limited number of countries.
Afreximbank Senior Executive Vice-President Denys Denya said the project builds on the bank’s growing engagement with Caribbean countries, including initiatives to improve access to vaccines during the pandemic.
He said the proposed facility would support local production of essential medicines, technology transfer and skilled employment while strengthening the region’s health sovereignty.
“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,” Denya said.
Manufacturing and regulatory preparations
AMA Holdings Chairman Abdullahi Musa Bello said the investment would allow the Nigerian manufacturer to expand into the Caribbean, with an emphasis on technical expertise, dependable supply chains and commercial sustainability.
BPI Acting Chief Executive Officer Dr Cindi Lewis said the immediate priority was to translate the agreements into an operational manufacturing facility.
The initiative builds on existing trade between the two countries.
AMA’s first shipment of IV fluids arrived in Barbados in March 2026, with additional shipments planned for Antigua and Barbuda, the British Virgin Islands and St Lucia.
BPI is also collaborating with AMA-MED and Barbados-based Lenstec to explore opportunities for introducing Barbadian medical technology into Nigeria.
Barbados enacted legislation in June 2026 to establish the Barbados Medical Products Authority, with regulatory and institutional implementation underway.
The proposed facility will require further feasibility assessments, project preparation, financing and regulatory clearances before construction begins.
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