Nigerian entrepreneur Aisha Maina has secured a $40 million investment backed by the African Export-Import Bank (Afreximbank) to develop a deepwater port in St. Kitts, aiming to establish a direct trade corridor between Africa and the Caribbean.
The financing agreement was signed on July 28 in Grenada during the Afreximbank Forum on African-Caribbean Trade and Investment, with representatives from Saint Kitts and Nevis and Afreximbank present.
Ms. Maina, Managing Director of Aquarian Consult and founder of Gemini Integrated Commodities, described the project as a pivotal moment: “This port marks our transition from promise to reality, from rhetoric to cargo handling. It forms the physical backbone of a long-awaited trade bridge.”
Saint Kitts and Nevis Prime Minister Dr. Terrance Drew witnessed the signing, while Minister of Agriculture and Marine Resources Samal Duggins signed on behalf of the island nation.
Duggins called the deal “a bold step toward concrete transformation through tangible assets,” emphasizing the government’s commitment to turning plans into action.
The planned deepwater port in Basseterre will feature a Panamax berth and anchor a 10-square-kilometer special economic zone dedicated to agri-food processing, light assembly, and bonded warehousing.
Feasibility and environmental assessments will begin this August, with financial closure expected by early 2026. The first container shipment is anticipated in late 2028.
Ms. Maina highlighted the strategic advantage of the new maritime corridor, stating it will reduce transport time between Lagos and Basseterre to approximately seven days, cutting out expensive European detours and accelerating market access for African producers.
Speaking at the Caribbean Investment Forum in Kingston, Jamaica, she insisted, “If the private sector does not take the lead in the process, we will remain frozen. Retreat or defeat are not options.”
The project is projected to create 600 direct construction jobs and attract an additional $300 million in private investment, potentially transforming Saint Kitts and Nevis—a nation of fewer than 60,000 people—into a logistics hub connecting 19 African and 12 Commonwealth Caribbean countries.
This initiative also aims to bolster regional supply chains by enabling value-added processing of African raw materials closer to North American markets, marking a shift toward market-led infrastructure driven by private sector leadership rather than public policy.
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