Afreximbank: Whose Hands Will Build the Future?
Submitted by The Inked Blade
The call for expressions of interest (EOI) from Afreximbank for its new Caribbean headquarters in Barbados has raised serious concerns about whether the project will live up to its promise of economic inclusion.
While the initiative is championed as a beacon of pan-African collaboration, the specific requirements for contractors…particularly the “$100m in Mixed-Use Projects Delivered in the Last 5 Years” clause, are sparking a crucial conversation.
This requirement, along with others, appears to favour large, established companies with a history of executing massive projects, a profile that historically excludes many capable Black-owned Barbadian firms.
This is more than just a bureaucratic detail; it’s a hard-hitting question about who gets a seat at the table. Are these criteria a subtle way of ensuring that the project, despite its pan-African branding, defaults to the usual players?
The $100 Million Question: Capacity vs. Opportunity
Let’s break down the implications of the EOI requirements.
- The $100 Million Hurdle: The demand for a proven track record of delivering mixed-use projects valued at over $100 million USD in the past five years is a significant barrier. While many Black-owned Barbadian construction companies are highly competent and have successfully completed numerous projects including hotels, schools, and private developments… few, if any, have had the opportunity to lead a project of this scale and value. This is not due to a lack of skill or ability, but rather a lack of access to the multi-million-dollar contracts that have been historically awarded to a small group of white- led firms. This criterion effectively disqualifies many local firms before they even have a chance to bid.
- “Proof of Relevant EPC Experience”: While this seems like a standard requirement, in the context of the Barbadian construction industry, it can reinforce the status quo. The firms with the most “relevant experience” on paper are often the same ones that have been consistently awarded large-scale contracts over the years. This creates a self-perpetuating cycle where the same firms get the big jobs, and their resumes get stronger, making it even harder for newcomers to compete.
A Promise of Inclusion vs. Business as Usual
Prime Minister Mia Mottley has rightly framed this project as a moment for “our people” to “control our destiny.” But how can we control our destiny if the opportunities for wealth creation and project leadership continue to bypass Black-owned businesses?
The concern isn’t that Black Barbadians won’t be involved at all. History shows that these same white-led companies, if awarded the contract, will employ and subcontract a large number of skilled Black engineers, masons, and carpenters. The hands-on work will be done by Black Barbadians, but the project leadership, the major profits, and the chance to build generational wealth will not.
So, Barbadians are watching. They are asking:
- Will Afreximbank, an institution founded on the principles of African economic liberation, allow its flagship project in the Caribbean to reinforce the very economic structures it was created to dismantle?
- Are there provisions for partnerships or joint ventures that could allow capable local Black-owned firms to lead this project, or at least have a significant stake, even if they don’t meet the massive $100 million hurdle on their own?
- Will the promise of inclusion be more than just a buzzword, or will it be reflected in the final contract awards, ensuring that this landmark development is truly a project by and for Barbadians?
This building has the potential to be a symbol of Black economic empowerment, a tangible sign of progress. But for that to happen, the bank and the government must ensure that the process is not just fair in theory, but equitable in practice. The demolition of the old site on Jemmotts Lane should signal the dismantling of old, exclusive business practices, not their re- entrenchment.
See PDF Version –Afreximbank: Whose Hands Will Build the Future?
The blogmaster invites you to join the discussion.