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Re-align conference spotlights Africa as key export partner
ODIASE ... there are investors in Africa who are willing to come here to do business.
Business
Codie-ann Barrett | Business Reporter  
June 29, 2025

Re-align conference spotlights Africa as key export partner

THE call to look to Africa echoed strongly throughout the Re-align Business and Investment Conference held Wednesday at the Pegasus hotel in Kingston, where Nigerian officials made a compelling case for deeper trade, policy, and logistical cooperation between Africa and the Caribbean.

In what was effectively a pitch to Jamaican businesses, speakers outlined the strategic advantages of engaging with the African continent, emphasising not only cultural ties, but the significant commercial opportunities available across sectors like energy, agriculture, and technology.

“Africa is open for business,” announced Osagie Odiase, head of the Association of Nigerians in Jamaica.

Africa as Jamaica’s next major export market was the key point driven by Ambassador Janet Olisa, director of regions at Nigeria’s Ministry of Foreign Affairs. She urged local businesses to view the continent not only as a cultural ally but also as a high-potential economic partner.

“There’s a huge diaspora connection,” Olisa said.

She noted that while Jamaica has a population of just three million, the Jamaican diaspora globally is estimated at over 300 million, a vast network that should be strategically leveraged. But despite this shared heritage and potential, Olisa was candid about the logistical constraints hampering movement and trade. To travel from Kingston to many countries in the Caribbean or Africa, she said, often requires routing through Miami, an inconvenience that mirrors deeper connectivity gaps. She also highlighted the unfair trade practices African exporters face.

“Even goods from Nigeria get seized unless repackaged through the US,” she said.

With delays to trade, she says this places African and Caribbean goods at a disadvantage in the global market.

“These barriers hurt regional trade and must be addressed through policy and infrastructure development,” she added.

The conference also spotlighted the work of the Afri-Caribbean Trade and Investment Forum and the commitment of the African Export-Import Bank (Afreximbank), which has pledged US$1.5 million to strengthen Africa-Caribbean trade relations. Nigeria, already home to over 230 million people, is positioning itself as a gateway for Jamaican companies to scale. Olisa pointed to Nigeria’s special economic zones offering tax holidays of up to five years and duty-free waivers on equipment, particularly in agriculture, mining, and energy. She also revealed the introduction of a green bond, a financial instrument aimed at encouraging investment in renewable energy, as part of Nigeria’s broader economic transformation agenda.

“There are investors in Africa who are willing to come here to do business,” said Odiase.

Emphasising the ease of doing business, Odiase explained that foreign investors in Nigeria are not required to be citizens and are under no obligation to hire local employees, giving Jamaican entrepreneurs more flexibility when entering the market.

“Jamaican products are clean, high-quality, and have strong export potential,” Odiase added. “But business doesn’t grow by staying and marketing to one people. You need to get out there and build partnerships.”

Beyond investment opportunities, the event also tackled the need for forward-thinking policy reforms to support cross-border trade, with calls to modernise outdated frameworks and accelerate digital transformation. Ambassador Olisa shared that Nigeria has upgraded its visa system to e-visas, which can now be issued within 24 to 48 hours. A temporary work permit and a newly introduced entertainment visa also signal the country’s growing openness. In closing the event, keynote speaker and Jamaica Ambassador to the United States Audrey Marks emphasised the need for policy reform to accelerate investment and digital transformation. She said Jamaica is at a pivotal point, and now is the time to implement bold strategies that include young entrepreneurs and the diaspora, particularly in the areas of technology and innovation. A major part of that mission, she explained, is using digital tools to leapfrog traditional barriers and reduce bureaucracy. Marks noted that policy changes are being pushed through the Senate to modernise the regulatory framework for investment readiness. These include streamlining digital investment approvals, strengthening intellectual property and data protection, and introducing a Diaspora Investment Passport — an initiative that will allow Jamaicans abroad and African investors to launch projects and track transactions transparently.

 

Ambassador Janet Olisa, director of regions at Nigeria’s Ministry of Foreign Affairs.

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