Sandals in 100 staff units to ease housing shortage
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
SANDALS executive chairman yesterday revealed it is building an extra 100 rooms to ease Exuma’s housing crisis for staff with the growth of vacation rentals “driving the cost of living through the roof”.
Adam Stewart, speaking to the Bahamas Out Island Promotion Board’s annual meeting, said the transformation of the nowformer Sandals Emerald Bay resort into the chain’s Beaches brand is “making steady progress”.
He added that the necessary engineering work has been completed and Sandals is now awaiting construction materials shipments to progress the redevelopment, with the resort chain building an extra 100 rooms for staff housing to help accommodate the estimated 800 workers who will be employed when the Beaches property opens.
“We are making steady progress. We are just at the stage of building momentum. All the engineering stuff has been done, all the heavy stuff in the back-end. The systems and back-end of hospitality, they are either shipping or on the way,” Mr Stewart said.
“One of the things that, in more ways than others, [needs] an overall residual improvement is the demand for staff housing. We employ about 350 today, and that is likely to increase to 800, so we are building out 100 rooms for staff housing for Exuma because there is some difficulty finding staff housing there. The water slide and the staff housing is
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE LATE Sir Wil-
liam Allen’s sons yesterday confirmed they have taken control of a Bahamian digital payments provider with ambitions to become a “dominant player” and “saturate” the Family Islands in 2025.
Andrew Allen, an attorney by profession, told Tribune Business that he and his brother, William Allen junior, are now Island Pay’s chairman and managing director, respectively, after Richard Douglas, the provider’s Canadian co-founder, exited his direct involvement and interest in the company.
Disclosing that the business has “stabilised” following Mr Douglas’ departure, he said the brothers - together with other Board members and staff - are aiming to rapidly expand Island Pay’s network of self-pay kiosks and automated teller machines (ATM) to up to 120 locations via a roll-out set to begin in early 2025.
Revealing that Exuma is the first island in Island Pay’s sights, Mr Allen told this newspaper that it is also in negotiations with the National Insurance Board (NIB) to resume the role it fulfilled during the COVID-19 pandemic when it facilitated thousands of electronic payments of unemployment benefits on the social security system’s behalf.
And, while seeking to meet the demand for financial and payment services on islands “abandoned” by commercial banks and their branches, Island Pay’s chairman said it is already looking ahead to potential expansion beyond The Bahamas’ borders with
potential moves into the Caribbean and Latin American regions come 2026.
“That’s true,” Mr Allen confirmed of the changes at Island Pay, which his late father co-founded with Mr Douglas. “We’ve just moved in and taken over all the responsibilities and relationships and moved on. We’re moving forward with full plans to build and roll-out our kiosks, ATMs throughout the country beginning with Exuma next month.”
Island Pay already has locations at CBS Bahamas and Lynden Pindling International Airport (LPIA) and
Cable targets 30,000 ‘reach’ with new network by end ‘25
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
CABLE Bahamas is “aiming to reach” 30,000 subscribers with its new fibre-to-the home network by end-June 2025 while promising shareholders of “continued growth” in profits and earnings per share (EPS).
The BISX-listed communications provider, writing in its 2024 annual report and
ahead of today’s annual general meeting (AGM), said the continued roll-out of its Aliv Fibre infrastructure across New Providence promises to “unlock new revenue streams” associated with the expanded use of technology.
Confirming that it is still assessing the business case for fifth generation (5G) mobile networks and associated technology, Cable Bahamas informed investors: “We will continue to prioritise
the expansion of our fibre technology, aiming to reach 30,000 subscribers by the end of 2025.
“This investment in network infrastructure will unlock new revenue streams, particularly in high-demand areas such as IoT (Internet of Things), smart city solutions and enterprise services, positioning us as a market leader in the digital era. We also expect strong growth from the continued deployment
of fibre-optic broadband, enabling faster, more reliable Internet access for both residential and business customers.”
Unveiling its other goals for 2025, Cable Bahamas pledged: “Improving our customer experience remains a central pillar of our strategy. In 2025, we will focus on delivering personalised, seamless services across our
Atlantis engineer chief loses $347,603 claim
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A FORMER senior engineering director for Atlantis has seen his $347,603 claim for wrongful and unfair dismissal comprehensively rejected by the Industrial Tribunal.
Donald McDonald, a near 28-year veteran who was among 775 staff terminated due to the “significant financial loss” suffered by the mega resort as a result of its enforced COVID19 shutdown, alleged that it had committed multiple breaches of the Employment Act when it made him redundant on May 30, 2021.
Having previously been furloughed on March 23,
2020, under the emergency pandemic-related provisions introduced by the then-Minnis administration, he claimed that the Paradise Island flagship had both failed to inform him of his “impending redundancy” and consult with the minister of labour as required by law. And the engineering chief also asserted that he did not receive his redundancy pay in accordance with the Act. Mr McDonald, who had earned an annual salary of $103,760, included salary, meal allowance, accrued vacation, a profit-sharing bonus, group insurance and pension, Christmas ham and turkey and “basic
By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net
THE body responsible for addressing all labourrelated matters in The Bahamas yesterday said it plans to form a committee to “operationalise a living (livable) wage in the Bahamas”. Sharon Martin, the National Tripartite Council’s chairman, declined to name the committee’s members as she told Tribune Business that information would remain under wraps “until Cabinet releases that”. However, the Council
and other labour specialists are planning to team up with the International Labour Organisation (ILO) for further studies on both the livable and minimum wages.
“Teaming up is something that’s always happening with the ILO,” Ms Martin said. “They are one of our key international strategic partners, and so we would have met with them in May of this year in Geneva and basically, again, to ensure that we are on par and on target to operationalise a living wage in The Bahamas or to see what we could
SANDALS EMERALD BAY RESORT
ANDREW ALLEN
SIR WILLIAM ALLEN
Considering the week we have had in The Bahamas, and given today’s interconnected and continually evolving business landscape, preventing corruption has become an imperative for companies aiming to maintain trust, sustainability and longterm success. Corruption not only damages a company’s reputation but erodes public trust, undermines economic growth and poses legal and financial risks.
We are all responsible for fighting corruption FERGUSON IAN
To combat this pervasive problem, many businesses are adopting a proactive approach that integrates anti-corruption measures into their core strategies. This
article explores a comprehensive business approach to prevent corruption, encompassing ethical leadership, robust compliance mechanisms, transparency and a values-based culture.
There are many challenges in preventing corruption. These include the high volumes of business activity and operations, ranging from daily procurement and invoicing to sales and marketing, and targeting a new audience or clients in business development. Increasing knowledge, creativity and engagement is the new approach required in creating an environment that is hostile to all forms of corruption.
Trade chief: Turn Amazon threat into ‘opportunities’
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Bahamas Trade Commission’s chairman yesterday urged local businesses to convert the threat posed by Amazon’s ‘free’ international delivery promotion into “opportunity” by going digital themselves.
Barry Griffin, addressing the Senate yesterday, called on Bahamian companies to “create Amazon storefronts and sell Bahamian products to the world” as he revealed the Commission will soon contact the world’s largest online retailer and its logistics providers to see if they can help ship local products to the US.
When considering a new approach to corruption prevention and mitigation, new assumptions must be made and options introduced:
1. Performance measurement: Recognising that data sources are available within a company to detect, mitigate and measure the performance of an anti-corruption approach.
2. Anti-corruption resources: It must be understood that it is the responsibility of all staff to help introduce a preventative approach in their area of responsibility, and to support an anti-corruption culture with consistent engagement in discussing and creating a new environment and response to risk.
companies on Amazon offer online ordering with in-store pickup. This can now be a reality here in The Bahamas. Bahamian stores can be in-store pick up options for products ordered on Amazon.
3. Internal control measures: Robust internal control measures that document decision-making are at the centre of corruption prevention. Consistent assessment should be introduced, particularly where new corruption and procurement fraud risks are identified.
4. Leadership example and message: Consistently setting the example for a company, particularly where it is building relationships with suppliers, local communities, local and national governments and sending a strong message, is a starting point in creating an anti-corruption environment.
“The reality is, r-commerce shows no signs of slowing down, and it will continue to grow and evolve. We want to see this as a challenge that we can turn into opportunities for consumers and businesses.”
An ethical workplace becomes the responsibility of everyone, including Board of Directors, senior leadership and line staff. Our collective and deliberate actions assist us in yielding the results we seek to achieve.
a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organisations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@ coralwave.com.
“One thing we can say definitively is that if Amazon’s entrance into this market follows its pattern in other markets, it will be nothing short of disruptive. And speaking as a whole, that doesn’t have to be a bad thing. We see opportunities for Bahamian businesses and Bahamian consumers.”
Urging Bahamian firms to be proactive, and not sit back and let Amazon undermine their business, Mr Griffin said: “We encourage, and we will work with our partners at the Chamber of Commerce and the Small Business Development Centre, to facilitate and assist companies locally to digitise to provide an online shopping option for Bahamian consumers.
“We will also encourage companies to look into local delivery options so that consumers across
Adding that Bahamian retailers and merchants can also offer themselves as “pick-up” locations for goods shipped via Amazon, he added: “The Bahamas Trade Commission is carefully monitoring the effect Amazon will have on trade and commerce in The Bahamas.
the country can benefit from products being delivered directly to or closer to them. These steps will better help companies to compete in a market where Amazon exists. So we want our businesses to compete effectively. However, we also want them to take advantage of Amazon.
“We encourage Bahamian businesses to create Amazon storefronts and sell Bahamian products to the world. Over the coming days, we will be reaching out to DHL and Amazon experts to help to facilitate the shipping of Bahamian products into the US market through DHL and Amazon,” the Trade Commission chair continued.
“We also think Bahamian businesses can become ‘omni-channel’ distribution centres for US brands through Amazon, which is essentially allowing US companies to ship to Bahamian customers directly from their local store. Many
“Additionally, we foresee Bahamian small businesses using Amazon to connect to an enormous base of suppliers for goods to sell in the Bahamian market that will now have a short lead time to get here. For consumers, the opportunity here is easy. We foresee greater convenience, more choice and lower prices. In the present global economy, that is a win for the Bahamian consumer.
Mr Griffin also reaffirmed the Commission’s preparations for the proposed tariffs that US president elect, Donald Trump, is threatening to impose on a wide range of imported goods.
Tariffs are merely one form of taxation, and he added: “In our estimation, the proposed US tariffs would be likely to have mixed effects on The Bahamas, given our close trade and economic relationship with the US. The US is our largest trading partner, and a significant portion of our imports come from there, including consumer goods, machinery and raw materials.
Aviation chief reiterates plan for ‘hub’ in Exuma
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE Government’s aviation chief yesterday said Exuma will become the aviation hub for the central and southern Bahamas once upgrades to Georgetown International Airport are completed.
Dr Kenneth Romer, director of aviation, speaking at the Bahama Out Island Promotion Board’s annual meeting said this will also create opportunities for small Bahamian carriers as tourists often complain of having to connect to Family Islands via New Providence.
“For the southern and central Bahamas, Exuma will become this new hub,” he explained. “And then you will have smaller domestic carriers who will benefit from taking passengers from Exuma with a brand new traffic control centre, a brand new airport facility, and they will now take persons throughout the southern and central Bahamas.
“This will spur a lot of economic opportunities for persons who are qualified and experienced to enter into the market.” Dr Romer said small Bahamian carriers are the “unsung heroes” of the industry as they drive economic growth in the Family Islands.
“My thoughts are always with our smaller domestic carriers. The same level of attention we give to our legacy carriers, we must do now to our smaller domestic carriers and, by extension, those who are servicing our Family Islands,” said Dr Romer.
“They are the real unsung heroes of the country because, while Nassau will benefit from the volume of travellers, I believe sometimes the value we have seen is with the smaller carriers and spurring economic growth in our Family Islands.”
Dr Romer said vendors will also benefit from the airport renovations as there will be opportunities for them to sell goods to guests waiting for their flights. He said a big part of the Family Island airport designs was to ensure visitors get to experience the destination from the time they arrive to when they leave.
“Exuma is also going to create a lot of opportunities in the design for vendors. Persons don’t want to go in the Family Islands and sit in the airport and be bored. They want to have their last drink or their last meal and feel the Family Islands, so we are going to have a lot of commercial vendor opportunities outside of the main terminal area. It’s going to be the same in all of our Family Island designs,” said Dr Romer.
“The imposition of tariffs as proposed could potentially increase the cost of these imports. The Bahamas Trade Commission and the National Trade Facilitation Committee are closely monitoring the discussions in the US surrounding the proposed changes. In particular, we are preparing for the potential impact SEE PAGE B8
Black Point airport positioned to become the “gateway to luxury travel” with several resorts, such as the $200m Rosewood-branded project on Sampson Cay, set to open over the coming years.
“Black Point is positioned to be one of the new gateways for our luxury private travel. There are amazing developments taking shape in Exuma and they will be opening over the next 12 to 24 months,” said Dr Romer. For Grand Bahama International Airport, Dr Romer said flood mitigation played a major role in the airport’s new design. He said it will initially be able to accommodate one million passengers a year and there are plans to expand to two million during the second phase.
“Flood mitigation is going to be a critical component for Grand Bahama. The airport is going to be ready for the US pre-clearance to return to Grand Bahama. The airport, in the first instance, will be able to accommodate traffic volume of one million passengers per year. So Grand Bahama is really on the move,” said Dr Romer.
“There will be vendor opportunities on the outside. There will be a phased approach, and phase two will go up to an expansion of two million passengers per annum so this speaks to the expansion in Grand Bahama.”
DIR: Just 1.3% of Family Island Airbnbs registered
By NEIL HARTNELL Tribune Business Editor
THE Department of Inland Revenue (DIR) yesterday asserted that just 1.3 percent, or 502 out of an estimated 38,000 Family Island vacation rental properties, are registered with it.
Dexter Fernander, the tax authority’s operations manager, emphasised to the Bahama Out Island Promotion Board’s annual meeting the need for much greater tax compliance from shortterm rental operators. He added that recent research
revealed that there are 38,000 short-term rentals in the Out Islands, but only 502 have registered. Of this number, Mr Fernander said 55 percent are foreign-owned and registered as vacant lots. “The Ministry of Tourism and the Department of Inland Revenue engaged a company called Avenue for some research on the whole of The Bahamas,” said Mr Fernander.
“There are 38,000 in the Family Islands with shortterm rentals. Out of those 38,000, only 502 are registered. Fifty-five percent
belong to non-Bahamians who are registered with the Department of Inland Revenue as vacant land.”
Mr Fernander noted that Immigration officers should ensure visitors provide proof of where they will reside during their stay. He added that the Department of Inland Revenue (DIR) is not trying to close unregulated businesses but ensure they comply.
“If there’s somebody coming and saying they have a short-term rental at the airport, they should show proof of where they are staying. So there has to
Family Island president calls for 20-year tourism strategy
By FAY SIMMONS Tribune Business Reporter
THE Bahama Out Island
Promotion Board’s president yesterday called for the creation of a 20-year plan that will ensure the industry’s sustainability for future generations.
Emanuel ‘Manny’ Alexiou, emphasising that this nation’s largest industry must “embrace sustainability”, told the Board’s annual meeting that a 20-year plan for the sector should be drafted to ensure it continues to thrive.
“We must also develop a long-term strategy, a 20-year plan that defines that defines what we as Bahamians want The Bahamas to be in 20 years from now,” he said.
“These short-term and long-term strategic visions will make a foundation for a thriving, more resilient tourism sector. Let us commit to innovation and safety, and sustainability and collaboration, ensuring that all this remains the premier destination for
travellers from around the world”
Mr Alexiou suggested a think-tank with industry partners be formed to do an analysis of the sector’s strengths, weaknesses, opportunities and threats, then map out sustainable long-term goals.
“I suggest we form a think-tank made up of Ministry of Tourism executives, Bahamas Hotel and Tourism Association executives, promotion boards and relevant ministries, agencies, church leaders and other influences in our community under the leadership and guidance of their professional strategic management plan,” he added.
“Look at all aspects of our, strengths, weaknesses, opportunities and threats, and how we should systematically correct or mold future generations to achieve our desired goals. Mr Alexious said The Bahamas should be more mindful of the environmental footprint of cruise lines, and sustainable tourism is not measured by the number of visitors but achieving a balance between environmental
protection and economic development.
“We must embrace sustainability for the beauty and geography of our islands, our greatest assets, and we have a responsibility to protect it. We have talked the talk, now we must walk the walk and implement eco-friendly initiatives that preserve our natural resources for future generations,” said Mr Alexiou.
“Speaking about sustainability, let us be mindful about the rather large footprint left behind by our cruise visitors. Sustainability in tourism is not gained or measured by the number of visitors, but by tracking the right balance of cruise and stopover visitors in order to achieve the level of visitor spending it needs for the holistic development of our country.”
Mr Alexiou said the private and public sector must work together to consult on issues that affect the industry and address infrastructure needs.
“I think collaboration between public and private sectors has never been more important. We must
be someone on the island who is cleaning those rooms for those short-term rentals. We’re not trying to stop the business, but we are trying to regulate the business and ensure that they are in compliance with government rules,” he said.
Mr Fernander said that, going forward, the Government will be more actively enforcing the Business License and tax compliance requirements for shortterm rental operators. This includes requiring them to register, obtain the proper licences, and report their revenues accurately.
engage in frank and meaningful discussions before key decisions that impact our business are made, and work hand in hand to address the infrastructure and security gaps, promote our unique offerings and ensure that the Bahamian tourism experience is not only unforgettable but also sustainable,” he said.
He said it is important to protect consumers and ensure a level playing field for all tourism businesses, as unregistered shortterm rentals can undercut licensed hotels and other accommodations, and he called for the community to report unlicensed operators. “There’s someone cleaning the place. There’s someone leaving the car at the airport and there’s someone offering the private food,” said Mr Fernander.
“The only way the Department gets involved
is when the tourist gets information when they reach to the island and there’s a cancellation of their booking, and they want to know who to sue. The representative or the property owner is not registered in The Bahamas. The property owner is based in Florida, so there is a need for a Business Licence for the taxable activity and property managing needs a Business Licence.
“The VAT Act says if you are a non-Bahamian in short-term rentals you must become a VAT-registered business.”
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Atlantis engineer chief loses $347,603 claim
and compensatory awards” in his claim for $347,603. However, Ingrid CooperBrooks, the Tribunal’s vice-president, dismissed his claim in its entirety in an October 5, 2024, ruling to hand Atlantis a total victory.
Tackling Mr McDonald’s claim for wrongful dismissal first, and his assertion that he was given inadequate notice of his upcoming termination or “payment in lieu of notice”, Ms Cooper-Brooks noted that he brought his claim for unpaid wages and National Insurance Board (NIB) benefits during his 14-month COVID furlough under the Industrial Relations Act.
The former engineering head sought to “pursue greater benefits” than he was entitled to under the Employment Act, which would have been 52 weeks’ redundancy pay, via common law. While the Act is statute law, meaning it was passed by the Bahamian parliament, common law is based on customs and precedents set by past court/judicial decisions.
Long-serving employees have previously used common law to initiate legal actions seeking greater redundancy payouts, and benefits, than those available under the Employment Act, which sets a floor for this that is capped at a maximum of 12 years’ compensation.
“He argued that given his 27 years of service and age, 55, that 30 months’ notice would be reasonable as it would be extremely difficult for him to find alternate employment,”
Ms Cooper-Brooks said of Mr McDonald’s stance. Atlantis, though, rejected his wrongful dismissal claim and asserted that the former senior engineering director had been paid the $103,760 he was entitled to under the Employment Act.
Noting that Mr McDonald had in fact received $108,932, which included accrued vacation, Atlantis argued that accepting this immediately undermined his claim. It also argued that the common law bid for greater benefits - 104 weeks, or 24 months’, pay compared to the Employment Act’s 52 weeks or 12 months - was “misconceived and meritless” and not supported by “the current jurisprudence of employment law”.
Ms Cooper-Books agreed, finding that Mr McDonald’s wrongful dismissal claim was governed by statute law and the Employment Act rather than common law. “Moreover, it is well-established that statute law prevails over common law,”she said, adding that the ex-engineering head was properly paid his redundancy entitlement and not entitled “to any greater benefits”.
Mr McDonald, as part of his claim, had also argued he was due $121,939 to
cover the 14-month period when he was furloughed due to COVID-19. Arguing that there was “no contractual provision allowing lay-off without pay”, he added that all workers placed on furlough during the pandemic were still “classified as employees” due to the emergency provisions enacted by the Government.
Those provisions suspended a key section in the Employment Act relating to employees who were laid-off but not made redundant, Mr McDonald argued. “However, once companies decided to formally make staff redundant during this period they were required to pay for the layoff as staff were no longer employees and therefore not falling under the emergency Order,” he argued.
Mr McDonald also contended “that, as a general rule, there is no right of an employer to lay-off employees at common law without pay”. However, Atlantis pointed to the Employment Act’s section 28 which it argued gives companies the right to lay-off workers if there is no work for them to perform.
This, it added, applied squarely to Mr McDonald’s situation - something that Ms Cooper-Brooks agreed with. As a result, he was not entitled to compensation for the lay-off period as employers were permitted not to pay furloughed staff. And, having been fully compensated for
his redundancy, no additional sums were due to the former engineering head.
As for his unfair dismissal claim, Mr McDonald argued that he was the most senior of the two senior engineering directors and “no reasons were provided for choosing to dismiss him and retain the other individual”. This, he claimed, violated the Employment Act’s section 37.
But Kenneth Lightbourne, Atlantis’ vice-president of labour relations, asserted that “the selection process was fair and objective” in choosing who to make redundant. Besides himself, it involved a team featuring Karen Carey, a former senior vicepresident; Daniel Bonello, senior vice-president of engineering; Tameka Forbes, vice-president of recruiting; and Tesma MossLloyd, a human resources executive director.
“He elaborated that both individuals’ work performance and understanding of the resort was compared, and the other individual demonstrated better performance and was considered more experienced,” Ms Cooper-Brooks wrote in her verdict.
“Also, at the time, the applicant was responsible for two towers whereas the latter was responsible for three towers, and it was decided that he was more capable of taking on the responsibilities of two additional towers and managing a broader scope of duties.
“Mr Lightbourne acknowledged that while the applicant had been employed since 1993, the other engineer, despite starting three years later, was more suited to the additional responsibilities.”
However, Mr McDonald argued that Atlantis also failed to comply with new Employment Act provisions, introduced in 2017, which requires employers to consult with or inform the minister of labour when terminating 20 or more staff.
Atlantis, in its defence, produced the May 18, 2021, and May 23, 2021, letters sent to all staff by Audrey Oswell, the resort’s president and managing director, advising of the “impending redundancies” stemming from “the financial challenges due to the COVID-19 pandemic, resulting in the resort having to drastically cut costs and make 700 employees redundant”.
Mr McDonald alleged that, while he received the letters, the notice period was insufficient and did not comply with the one week demanded by the Employment Act. However, Atlantis asserted that while the letters stated May 23, 2021, was the redundancy date, it was not until May 30 - one week later - that Mr McDonald was terminated.
Mr Lightbourne, too, countered that he advised then-minister of labour, Dion Foulkes, via letter and phone conversation on May
17, 2021,and May 19, 2021, about the resort’s plans to terminate staff in compliance with the Employment Act.
As a result, Ms CooperBrooks found Atlantis had complied with the Act and there was no merit to Mr McDonald’s unfair dismissal claim. However, the latter was not finished, as he also claimed Atlantis committed further Employment Act breaches by failing to provide his redundancy pay on or before the termination date. Instead, he received it in three monthly installments of $36,311.
“Mr Lightbourne testified that due to the significant financial loss suffered from the pandemic, which resulted in the closure of the resort, the respondent was unable to pay all 775 redundant employes in full at once,” Ms Cooper-Brooks wrote.
“However, the applicant was paid his entire entitlement, and acknowledged receiving the aggregate sum of $108,932 in three installments which he accepted without objection.” As a result, the Industrial Tribunal vice-president said Atlantis’ explanation was “reasonable” and “not unfair” given that they did not negatively impact Mr McDonald. And she also dismissed his claims for items such as meal allowance, accrued vacation, profit-sharing bonus, group insurance and pension, and Christmas ham and turkey.
not necessarily a bricks and mortar investment.”
Mr Allen, in what amounts almost to a relaunch of the company and its brand, said it is refocusing on expanding this network to the Family Islands “to replace” the commercial banks, serve consumer needs that are not being met and boost financial inclusivity.
“Payments in the Family Islands are already being facilitated by ourselves,” he told Tribune Business “We intend to be huge. We intend to roll-out at least 100-120 ATMs throughout the islands and be in all major islands. We intend to saturate the islands where the banks have pulled out. We’re looking to begin the roll-out in the Family Islands in January.”
“The plan is to roll-out immediately, beginning
with Exuma, and to saturate Exuma, Long Island, Andros, Inagua, Eleuthera this coming year, every month of the year, and to make sure, now we have stabilised ourselves and are under new leadership, to consummate the various relationships that were always in the works.” Island Pay is also seeking to revive prior payment relationships with government agencies. “We are in talks with NIB,” Mr Allen confirmed. “We had NIB before with their unemployment benefit and insurance. That came to an end but we’re back talking to relaunch something.
“We have been in talks with NIB seeking to work with them, and have a signed contract with the Ministry of Health that we’re seeking to
IS HEREBY GIVEN as follows: (a) Hiteck Holding Co. Ltd. is in dissolution under the provisions of the International Business Companies Act, 2000.
(b) The dissolution of the said Company commenced on the 2 December, 2024 when its Articles of Dissolution were submitted to and registered by the Registrar General.
(c) The Liquidator of the said Company is Brian Selvadurai.
Dated the 3rd day of December, 2024.
H&J CORPORATE SERVICES LTD. Registered Agent for the above-named Company
NOTICE
HMS GESTAO DE RESIDUOS LTD. Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 207233 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 5th day of December A.D. 2024.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Helio Malacarne Silva, whose address is Rua Júlio Maito Sobrinho, 435, Curitiba, CEP: 81560-170, Paraná, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 31st day of December A.D. 2024 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereo they ay e e l ded ro the eneft o any distribution made before such claim is proved.
Dated this 5th day of December A.D. 2024. HELIO MALACARNE SILVA LIQUIDATOR
consummate. We’re looking at unique ways to roll that out, and will be getting more equipment in beginning next month. We’re in talks with lots of private entities, big private entities - I wouldn’t want to name one - who are looking to use our electronic wallets.
“We have some payroll clients now who we do payroll services for, private entities. We’re really looking to get up to.... having handled 16,000 payments for NIB, we’re looking for collective payments to be in the hundreds of thousands, and we’re looking at revenues to be very substantial.”
Asked about Island Pay’s growth ambitions, and how large it now plans to become, Mr Allen says the electronic payments provider has the ability to “ramp up very quickly” from a current staff of about
ten-12. “If you’re looking at the banking industry, we’re trying to move into what has been abandoned in much of the country,” he told Tribune Business
“We’re looking to have banking services on all the major islands in 2025. We’re looking to be a dominant player in the market again. We’re trying to introduce many things and bring them to fruition for the company to ensure that it delivers banking services to a country that has unique challenges geographically from a dispersed population that is dispersed over a large area.
“It is where the banks have pulled out and services are not meeting the needs of the population. Yes, we intend to be a big driver of business and improve the quality of life throughout the country.” Mr Allen said Exuma is the first island to be targeted because an affiliated company in which he has an interest, GNX (the former Global Nexus), is launching its “trunk cable” there on January 12.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas registered in the Register of Companies under the registration number 210427 B. (In Voluntary Liquidation)
Notice is hereby given that the liquidation and the winding up of the Company is complete and the Company has been struck off the Register of Companies maintained by the Registrar General. Dated this 5th day of December
That will provide the necessary Internet backbone and connectivity to multiple Exuma cays and locations, such as Black Point, Staniel Cay, Farmer’s Cay and Rolleville, to support and provide the necessary platform for Island Pay to deliver its services.
Disclosing that GBX will unveil the launch of its own subsidiary, a wi-fi (wireless Internet) services provider for Exuma, in the New Year, Mr Allen added of Island Pay: “We have a lot of equipment and investment on the ground. We’ll likely invest a few million more over the next two years in actual hardware and building contacts with private sector entities. That requires an investment on our part.
“We see ourselves as becoming an extremely large player. We see it as being an extremely large player in the Bahamian economy and fashioning itself as something unique to The Bahamas with its digital payments. That’s
Confirming that Island Pay’s ambitions are not confined within this nation’s borders, Mr Allen added:
“We see ourselves as anchored in The Bahamas but, moving very quickly, we see ourselves as expanding into both the Caribbean and Latin America. We’re looking in the next two years or so to make our next movement outside The Bahamas.”
Describing Mr Douglas’s exit as “more complicated” than it might appear, he said the Canadian investor who co-founded Island Pay alongside Sir William is no longer a shareholder in the company but still has “a relationship” with the Bahamian provider through software supplied by his Cayman Islands-domiciled firm.
Mr Allen said his late father had held all Island Pay’s shares, and the plan for Mr Douglas to apply to take ownership of them had been “denied” by the Government and its regulatory agencies.
NOTICE is hereby given that ENICKSON GUSTAVE of Fire Trail, New Providence, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 6th day of December, 2024 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
In Voluntary Liquidation
Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, JOURNEY OVERSEAS LIMITED is in dissolution as of December 4. 2024
International Liquidator Services Ltd. situated at 3rd Floor Whitfeld Tower, 4792 Coney Drive, Belize City, Belize is the Liquidator.
Sandals in 100 staff units to ease housing shortage
FROM PAGE B1
in Florida ready to ship, so hopefully we will get them over in the next few weeks.”
Mr Stewart said the biggest challenge with operating a resort in Exuma is the lack of healthcare facilities when a guest has a medical emergency. He added that although air ambulances provide good service they take hours to deploy, which creates a problem when there is a guest or staff emergency.
“We have a duty of care to our customer,” the Sandals chief said. “Accidents happen, health scares happen. We have to take proper care of any 10,000, 11,000 customers a week, and things happen.
“I think not having the proper infrastructure in place to deal with medical emergencies... air ambulances are great, but they take hours to deploy and get there even in the best of executions, and I think healthcare is a real issue overall and it’s something that we have to strive as a community to do better with the Government to figure out.” Mr Stewart added that Exuma businesses can also provide more dining options and activities for guests, adding that the information shared on Internet forums creates a free opportunity for companies that provide consistently good products and service.
“More dining options and more authenticity. I
think we’re living in a time where it’s true that we say that people are looking for that, you know, the authenticity. So whether it’s conch salads or just that pop up tree food,” said Mr Stewart. “It’s also consistency of when they’re open. It’s amazing how much our loyal members speak online and the information that they share. I mean, they do the marketing for you.”
As for the renovations to Georgetown International Airport, Mr Stewart said they will be “critical” to expanding airlift to Exuma. “I know the airport is underway. The airport will be critical to getting more airlift as we go forward, and that experience overall, just being improved,” he added.
Mr Stewart encouraged Exuma residents and businesses to expand their offerings and create more opportunities for guests to enjoy their travels and increase visitor spend. When asked about his thoughts on short-term vacation rentals, he said they have given many more individuals an opportunity to enter the tourism market but have driven up the cost of living worldwide.
“It’s given many more people opportunities now and it’s also driven up the cost of living through the roof. Not just in Exuma, but worldwide. We had to build more staff housing just to find those accommodations for them to live,” said Mr Stewart.
He said that as a brand Sandals only builds hotels in destinations they “fundamentally believe in”, and the resort chain works to promote them across different segments of travellers. “We build resorts in destinations that we fundamentally believe in. We go to market and we just promote, promote any opportunity we get anywhere we can, get the brand to different segments in travel,” said Mr Stewart. He said his biggest concern with short-term rentals is when they are unregulated and incidents happen to guests that tarnish the reputation of the host country. “My biggest concern with Airbnb is making sure that everything that happens is regulated, making
sure that there aren’t things that happen that damage the destination at large in an unregulated industry,” said Mr Stewart.
“We have seen across different islands where things happen in Airbnb, because they’re uncontrolled, that then become news headlines that harm the destination at large.”
Mr Stewart said that although they create some challenges, short-term rentals drive traffic to destinations and have become a “proven segment” of travel. “At the same time Airbnb is very large and it has created a proven segment of travel. So it is not something that is negative, it’s just a reality that we have to contend with,” he added.
mobile, broadband and TV platforms.
“The ongoing integration of AI-powered support and digital tools will enhance our ability to address customer needs quickly and efficiently, reducing churn and driving higher customer satisfaction. Our investment in digital services will accelerate, with a focus on monetising our streaming platforms and cloud solutions for corporate clients.
“As customers increasingly seek bundled services that combine mobile, broadband and TV, we are well-positioned to offer attractive, comprehensive solutions that strengthen customer loyalty and increase ARPU (average revenue per unit).”
Ahead of today’s AGM, Cable Bahamas unveiled modest net income of $444,000 for the 2025 first quarter, which represents a 55.2 percent decline compared to the $990,000 achieved during the three months to end-September 2023. While revenues rose slightly by just over
$550,000 to $60.538m, operating expenses rose by around $1m year-over-year to cause a fall in operating income to $6.835m.
Nevertheless, Cable Bahamas wrote in its annual report: “We anticipate continued revenue growth across our core business segments – mobile, broadband and corporate services - leveraging customer demand for highspeed connectivity and digital services.
“Maintaining our profit margins and EBITDA (earnings before interest, taxation, depreciation and amortisation) growth remains a key focus despite cost pressures from inflation and increased competition. Our plans to invest in capital expenditure are aligned with our long-term goals, and we expect to deliver sustainable returns to shareholders through dividend payments....
“Looking forward, we are confident that we will continue to generate sustainable growth, driven by our strategic investments, operational excellence and customer-centric approach.
With a strong balance sheet, robust network infrastructure and a growing portfolio of digital services, we are well-positioned to deliver value for both our customers and our shareholders in the future,” the BISX-listed communications provider added.
“Cable Bahamas group is poised to deliver strong positive cash flows post its significant investment in Aliv Fibre. The group will continue its strategic goals of seeking additional growth opportunities, deleveraging its balance sheet and providing enhanced returns for its shareholders.”
Franklyn Butler, Cable Bahamas’ president and chief executive, told shareholders that the roll-out of the company’s “more efficient” fibre-to-the-home network infrastructure helped to reduce the group’s energy demand and save “over 2,600 tonnes of carbon dioxide annually”.
“Our most significant achievement of this year has been the continued rollout of ALIV Fibre, our next-generation
fibre-to-the-home (FTTH) service,” he wrote. “ALIV Fibre represents the future of connectivity in The Bahamas, bringing the fastest Internet speeds and unparalleled reliability to Bahamian homes.
“By the end of fiscal year 2024, we passed 88,000 homes and connected 10,000 homes here in New Providence having spent a cumulative sum of $70m of the planned $85m - a major achievement. In addition to the reach of ALIV Fibre, the technology itself is revolutionary.
“Offering download speeds of up to 1Gbps (gigabyte per second), ALIV Fibre provides the speed and bandwidth necessary to support high-definition streaming, smart home systems and the increasing demands of digital workspaces. This is not just about faster Internet - it’s about giving Bahamians the tools they need to stay competitive and connected in today’s fast-paced world.”
Turning to Aliv’s mobile operations, Mr Butler said: “While our fibre network expansion has been a major focus, we are also laying the groundwork for the next major leap in telecommunications: 5G. Aliv’s network, established just seven years ago, is the newest and most resilient in The Bahamas,
built to first-world standards with future-proof capabilities.
“Currently operating at 4.5G LTE (long-term evolution technology), this robust infrastructure is poised for the upgrade to 5G technology, which will bring ultra-fast mobile data speeds, low latency and enhanced connectivity. We are working closely with URCA to monitor their plans for spectrum allocation and necessary framework to explore making 5G a reality.”
Echoing this outlook, Ross McDonald, Cable Bahamas’ chairman, said: “At the end of 2024, our Aliv shareholders took significant steps to strengthen the company’s financial position, which included reducing expenses and improving our balance sheet.
“Following the past fiscal year, Aliv raised $120m in new preferred shares, replacing existing debt, extending debt maturities and providing $60m in new capital for investment and working capital requirements. This substantial funding boost will enable us to drive progress, maintain our market leadership and provide value to our customers and shareholders.”
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PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, JASMINE CRISLYN THOMPSON, of #55 Highland Drive, Summer Haven in the Southern District, Nassau, The Bahamas, intend to change my name to JASMINE CRISLYN THOMPSON-SMITH If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O.Box N-742, Nassau, The Bahamas no later than thirty (30) days after the ate of pu ication of this notice.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that I, CHARLES FRANCIS GLINTON AKA CHARLES FRANCIS COOPER, of Garden Hills #2 House #12 Frangipani Avenue in the Sothern District, Nassau, The Bahamas, intend to change my name to CHARLES FRANCIS GLINTON If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Offcer, P.O.Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of publication of this notice.
Committee to assess ‘livable wage’ merits
do with the minimum wage again.
“We call it wage setting so that there’s just not one compartment of what we’re talking about. We’re talking about a tri-fold benefit of things. We’re talking about maybe looking at having different kinds of work hours. We’re talking about operationalising a living wage, and then we’re talking about looking at what increases to make the platform a better platform if we have to do another increase in minimum wage.
“So it’s good that we have the partners at the table together because we’re able to iron out each of these components to come to amicable decisions.” Other partners include The Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) and trade union movement.
“As you’re aware, the trade unions are part of our body, the Tripartite Council, and they are ardently working with the International Labour Organisation for several months so that there will be a perspective from their standpoint that they will be able to present to the Council,” Ms Martin said. “So work
is ongoing from all of the social partners. “The BCCEC, who are seated partners with us, would have also gone through their engagements with the International Labour Organisation and so has the Government side. Some persons are just basically on a fact-finding mission about what living wage is all about right now, and so we’re encouraging that part of it so that definitions and all that sort of stuff will be easy for persons to understand. We would all be kind of speaking the same language as it relates to living wages.”
University of The Bahamas (UoB) researchers, in a study produced in 2021, pegged Nassau’s monthly living wage at $2,625 while the equivalent for Grand Bahama was $3,550 per month.
The authors, Lesvie Archer, Olivia Saunders, Bridget Hogg, Vijaya Permual and Brittney Johnson, wrote: “Our gross living wage estimate for New Providence is 26 percent lower than the Grand Bahama living wage estimate, nearly 200 percent higher than the national minimum wage, 127 percent higher than 2013 poverty line and nearly 75 percent higher than the minimum
wage hike proposed by a local union.
“Our living wage estimate for Grand Bahama is nearly 300 percent higher than the living wage, 200 percent higher than the 2013 poverty line and 140 percent higher than the minimum wage hike proposed by a local union.”
The Bahamas’ private sector minimum wage, last increased following VAT’s introduction in 2015, is currently $210 a week.”
The minimum wage, though, is defined differently from the “livable wage” measure employed by the UoB study. It based its work on a model employed by Richard Anker, the International Labour Organisation’s (ILO) living wage specialist, who defined a livable wage as one that can sustain a person’s “physical, emotional, social and cultural needs and that of their family beyond mere subsistence”.
Food and housing costs, based on a “nutritious diet” and “decent housing”, were factored into the calculations together with other daily living costs, while the research also drew on data from sources such as the 2019 Labour Market Information Newsletter; 2017 Labour Force Report; and
2016 Government of the Bahamas salary book.
Pia-Glover Rolle, minister of labour and the public service, yesterday told the same conclave that she is“looking forward to taking the White Paper to Cabinet for approval to continue consultation with the wider stakeholders across our nation, and then ultimately in 2025, to take our labour legislation, our approved new labour legislation, to Parliament.”
“This is to ensure that ambiguity is removed,” Ms Glover-Rolle said. “This is to ensure that we are capturing those grey areas. And this is to ensure that we are moving our antiquated laws into a more modern framework. That is what is captured in these 255 recommendations that we have received from the tripartite.
“Our consultation process involved the Government. It involved our trade unions, which are our employee confederations and our employer confederations, which are the business people, the organisations that employ these workers. So it was a very comprehensive consultation process where everybody had the time to dialogue, to justify their reasons for wanting the
changes and to make it a very holistic exercise.”
Mrs Glover-Rolle also spoke to the proposed bimonthly, or fortnightly pay, for public servants that was discussed in the Budget communication. She said: “The concept of bi-weekly pay would bring the public service in line with the private sector generally.
“The digitisation process of our human resource management systems in the Government is solely a key component is accountability, authentication, ensuring that the employees that we are saying that are workers of the Government and public service are indeed present and accounted for, which will bring some fiscal savings when we implement that accountability.
“But, most importantly, the concept of bi-weekly pay would bring the public service in line with the private sector. Generally, the public sector is the only employer or organisation in the country that’s still paying monthly. We also have categories of workers in the public service that are being paid bi-weekly,” the minister continued.
“So it’s an opportunity to bring our public service workers to a place where there was more liquidity for them because they would have a more readily available cash flow by being paid more frequently, and the ability for them, in that instance, to be able to manage their resources a little better.”
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THE WEATHER REPORT
MARINE FORECAST
Wall Street edges back from its records as bitcoin briefly pops
By STAN CHOE AP Business Writer
THE huge rally for U.S. stocks lost momentum on Thursday as Wall Street counted down to a big jobs report that’s coming on Friday. The crypto market had more action, and bitcoin briefly burst to a record above $103,000 before pulling back.
The S&P 500 slipped 0.2% from the all-time high it had set the day before, its 56th of the year so far, to shave a bit off what’s set to be one of its best years of the millennium. The Dow Jones Industrial Average fell 248 points, or 0.6%, while the Nasdaq composite slipped 0.2% from its own record set the day before.
Bitcoin powered above $100,000 for the first time the night before, after President-elect Donald Trump chose Paul Atkins, who’s seen as a crypto advocate, as his nominee to head the Securities and Exchange Commission. The cryptocurrency has climbed dramatically from less than $70,000 on Election Day, but it fell back as Thursday progressed toward $99,000, according to CoinDesk.
Sharp swings for bitcoin are nothing new, and they took stocks of companies enmeshed in the crypto world on a similar ride.
After rising as much as 9% in early trading, MicroStrategy, a company that’s been raising cash just to buy bitcoin, swung to a loss of 4.8%. Crypto exchange Coinbase Global fell 3.1% after likewise erasing a big early gain.
Elsewhere on Wall Street, stocks of airlines helped lead the way following the
latest bumps up to financial forecasts from carriers.
American Airlines Group soared 16.8% after saying it’s making more in revenue during the last three months of 2024 than it expected, and it will likely make a bigger profit than it had earlier forecast.
The airline also chose Citi to be its exclusive partner for credit cards that give miles in its loyalty program. That should help its cash coming in from co-branded credit card and other
Trade chief: Turn Amazon threat into ‘opportunities’
FROM PAGE B2
on local businesses and consumers.
“In terms of the impact on Bahamian businesses we anticipate two things,” Mr Griffin added. “Firstly, we anticipate potentially higher import costs for US products. Businesses that rely predominantly on US imports may face rising operational costs.
“These businesses will either have to absorb the higher costs or pass them on to consumers through higher prices, which may reduce demand for American products in the Bahamas. We are actively encouraging these businesses to seek alternative sources for goods so as to keep the general cost of good low.
partners grow by about 10% annually.
Southwest Airlines climbed 2% after saying it’s seeing stronger demand from leisure travelers than it expected. It also raised its forecast for revenue for the holiday traveling season.
On the losing end of Wall Street was Synposys, which tumbled 12.4%. The supplier for the semiconductor industry reported better profit for the latest quarter than analysts expected, but it also warned of “continued
“Secondly, as the changes are implemented, we expect growing pains. We anticipate supply chain disruptions. US tariffs could disrupt supply chains, especially for industries in The Bahamas that rely on specific products or raw materials from the US,” he added.
“For example, the construction sector, which often imports building materials from the US, could see delays or higher cost, if they do not diversity import
on Wednesday, Dec. 4, 2024.
macro uncertainties” and gave a forecast for revenue in the current quarter that fell short of some analysts’ estimates.
American Eagle Outfitters fell even more, 14.3%, after the retailer said it’s preparing for “potential choppiness” outside of peak selling periods. It was reminiscent of a warning from Foot Locker earlier in the week and raised more concerns about how resilient U.S. shoppers can remain.
Solid spending by U.S. consumers has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market.
This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A report on Thursday said the number
sources. We encourage sectors that are vulnerable to disruptions to again, begin searching for alternative sources of inputs through programmes like the National Trade Diversification Programme.”
Pointing out that the Commission two months ago launched the National Trade Diversification Programme, Mr Griffin said: “All in all, while the planned US tariffs pose some challenges for The Bahamas, particularly in
of U.S. workers applying for unemployment benefits rose last week but remains at historically healthy levels.
Expectations are high that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. In the bond market, the yield on the 10-year Treasury edged down to 4.17% from 4.18% late Wednesday.
The S&P 500 fell 11.38 points to 6,075.11. The Dow sank 248.33 to 44,765.71, and the Nasdaq composite lost 34.86 to 19,700.26. In stock markets abroad, indexes were mostly calm in Europe after far-right and left-wing lawmakers in France joined together to vote on a no-confidence motion that will force Prime Minister Michel Barnier and his Cabinet to resign. The CAC 40 index in Paris added 0.4%.
terms of higher import costs, they also offer opportunities for local businesses to innovate, diversify and potentially expand their market reach.
“By implementing strategic policies, fostering regional trade partnerships and encouraging domestic production, The Bahamas can mitigate the negative effects while positioning itself to benefit from emerging opportunities.”
Photo:Peter Morgan/AP