Bahamas News
PM’s Remarks at Bahamas Striping’s Venture Capital Fund Launch
Bahamas, August 14, 2017 – Nassau –
- Cabinet Colleagues
- Mr. Atario Mitchell, President and Founder, Bahamas Striping Group of Companies;
- Allen Albury, Managing Director;
- Dominic Stirrup, Director of Business Development;
- Invited Guests;
- Ladies and Gentlemen
Many of you in this audience would recall that it was only a few months back, June, 10th, to be exact, that I had the opportunity of being with Atario and the principals of his company and the employees of Bahamas Striping as the company celebrated its 7th Anniversary. It was a wonderful occasion which, together with some of my Parliamentary colleagues, we thoroughly enjoyed.
At that time, you had built your celebrations around the theme of the mustard seed, a theme taken from the Bible which we all know. The mustard seed, though the smallest of seeds has the potential to grow into the mightiest of trees, far exceeding its small beginnings.
I am happy to note that this is indeed the model of growth of Bahamas Striping and to be quite frank, it has far exceeded what it thought would have been its potential.
There are many lessons to be learnt from the exponential growth and development of this company, and I never allow an opportunity to pass without publicly lauding Atario Mitchell for what he has been able to accomplish. This enterprise is a shining example of that dictum that give an individual an inch and he will achieve a mile. It speaks to the fact if given the opportunity, ordinary – – and I stress the word ordinary – Bahamians have the will and determination to succeed at anything.
I have read Atario’s own testimony and it is worth quoting in full because through his own words, he says it so well:
“As a young person, I did not come from a rich family, I had no political connection, I didn’t graduate at the top of my class but today in a progressive Bahamas, I have through hard work success is possible.”
Let me remind this audience and to those who will perhaps read and listen to what I have to say that this reality that we have today in Bahamas Striping was created under another Free National Government. It was in 2010 that this enterprise was started through a grant from the Self-Starter Program launched by a previous FNM Government. I am pleased that the Free National Movement has had a longstanding commitment to youth and business development.
I go on record by stating that youth entrepreneurial empowerment will be a major focus of my administration as we see this as a means of tackling some of our long entrenched problems in our urban areas such as unemployment, crime and social anomie.
Today, I have come to endorse the efforts of Bahamas Striping in going far beyond its remit in launching what is really a private venture capital fund. It is my understanding that the company has taken $1m of its funds and will use it to establish funding opportunities to young adults who can come forward with bankable proposals that would allow them the opportunity to get a leg up in the world of business. This is genuine and this is new and it should be applauded.
I need not tell you that there are countless examples of young individuals who have ideas to start a business enterprise but who have nowhere to turn to find the first red penny to advance their proposals. They are unable to obtain funding through the established commercial banks and quite naturally they would not have the connections or the knowledge to obtain private financing. And so what happens, the dream is deferred, and the dream dies. Needless to say, this leads to personal frustration and social explosion. And so I applaud this new initiative by Bahamas Striping as it has the potential to open the doors for many.
One of today’s realities is that the private sector must expand. It must be that sector of our economy that must be bold and imaginative. We know that the public sector is already overburdened when it comes to creating new employment and so any opportunity that the private sector has to expand and create new employment should be welcomed.
Another point that is really very important, that I wish to highlight, is this — and the story of the development of Bahamas Striping bears this out. Our economy needs small and medium enterprises to grow and become successful. More often than not, these are the companies that employ those who are marginalized and who may not fit into the conventional mainstream of employable skills. But the market place must find room for such young men and women, and often the best way to do this is allowing such persons to do their own thing.
Finally, if I were to make an observation for the benefit of those who will be approving and monitoring these small grants and loans, and it is this. Be on the lookout for those who bring creativity and enthusiasm to their proposals.
Today, it is so commonplace to see everyone doing the same thing. While healthy competition is good, one must be careful not to dismiss out of hand, that proposal that might go against the grain. Our economy needs all types to grow and to flourish and we must be on the lookout for these types of individuals.
That having been said, we know of the ever growing demand for those who would wish to do landscaping and gardening services, courier/delivery services, trucking and haulage, grooming and beauty business, food and drinks vending services and so on. Not everyone has to become a mechanic or a contractor or the likes. Find that for which there is a demand and then create a service.
I would repeat that which I said earlier. My Government is committed to helping the small man. We believe that he has a stake in the economic growth of The Bahamas and we will put our resources to work for you.
On my last visit with you, I mentioned the culture of training with which Bahamas stripping is imbued. The training and empowerment of young men is a cornerstone of your corporate culture. You are not only a center of excellence. You are also a center of hope. You are an example for other young entrepreneurs.
But the Government is also doing its part when it comes to training. Just across the street from the headquarters of Bahamas Striping is the BTVI. Then there is the National Training Agency which only recently enrolled its 8th cohort of students and which is preparing young people for the world of work and enterprise. And of course, at the highest level, there is the University of The Bahamas. My point is that an array of training is available in many forms and I encourage our young people to take advantage of such training.
I congratulate Bahamas Striping for that which it is launching today. This will have a profound impact on the lives of many young people by giving them that much needed jump-start to their lives.
I thank Bahamas Striping for what they will do. I wish to assure you of my fullest support on a personal level, and of course, you know that you can depend on the co-operation of my Government.
Congratulations and thank you!
By Deandrea Hamilton
The Bahamas, June 9, 2026 – The Caribbean Development Bank’s annual gathering may have concluded in The Bahamas, but attention is already turning to Belize as leadership of the institution’s Board of Governors officially changed hands.
At the close of the 56th Annual Meeting in Nassau, outgoing Chairman and CDB Governor for The Bahamas, Michael Halkitis, formally
transferred the chairmanship to Belize’s Dr. Hon. Osmond Martinez, continuing the Bank’s tradition of rotating leadership among its regional shareholders.
The handover capped a week of discussions focused on financing development in an increasingly uncertain global environment and strengthening the Caribbean’s ability to withstand economic and climate-related shocks.
One of the meeting’s most closely watched conversations centered on how multilateral development banks can better support vulnerable Small Island Developing States.
During the President’s Chat, titled Financing the Future: MDB Strategies for Uncertain Times, CDB President Daniel Best joined leaders from the OPEC Fund, the Central American Bank for Economic Integration and the Fund for Responding to Loss and Damage to discuss expanding development finance and building resilience.
OPEC Fund President Dr. Abdulhamid Alkhalifa emphasized that development institutions must move beyond responding to crises and instead help countries prepare for them.
“The real test is whether we can help countries move from strategy to implementation, and from implementation to results,” Alkhalifa said.
The discussions reflected a growing regional push for innovative financing solutions as Caribbean nations continue to confront climate vulnerability, infrastructure demands and economic uncertainty.
Beyond discussions on financing and resilience, the Annual Meeting also featured youth engagement activities, including the Youth FIRE
Forum, where young Caribbean leaders participated in conversations about innovation, entrepreneurship, leadership and the future of regional development. Senior government officials, development professionals and youth delegates exchanged ideas on the challenges and opportunities facing the next generation, reinforcing a recurring message throughout the conference: that investments made today must ultimately improve opportunities for Caribbean youth tomorrow.
That theme was echoed by Bahamas Prime Minister Philip Davis, who used the opening ceremony to challenge regional leaders to invest in future generations.
“We must invest in the one asset that no agency can ever downgrade, and that no storm can ever wash away: the mind of a Caribbean child,” Davis told delegates.
With Belize now assuming the chairmanship, regional leaders say the focus remains on transforming ideas discussed in Nassau into tangible results for Caribbean people.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.
ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing
to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.
The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.
Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.
Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.
The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.
Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.
The latest development marks a significant shift in the investigation.
What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.
Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without
charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.
Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.
The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.
The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.
The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.
For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.
Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.
NASSAU, BAHAMAS — Regional policymakers, development financiers, economists and international partners are converging on Nassau this week as the Caribbean Development Bank (CDB) stages its 56th Annual Meeting at the Baha Mar Resort from June 1-5, 2026.
Held under the theme, “Forging the Caribbean’s Future: Strategic Solutions for Uncertain Times,” the gathering is expected to
place The Bahamas at the center of discussions on some of the region’s most pressing challenges, from climate resilience and energy security to debt sustainability and economic growth.
At the launch of the annual meeting on March 19, CDB President Daniel Best underscored the importance of bringing together leaders from across the Caribbean and beyond at a time of global uncertainty.
“The Annual Meeting provides a strategic moment for the Caribbean, an opportunity for our leaders, governments, development institutions, private sector, youth, and international partners to come together to identify practical solutions that can help the Region navigate uncertainty while unlocking the opportunities that lie ahead,” Best said.
The conference host, newly named Bahamas Minister of Finance and Chairman of the CDB Board of Governors, Michael Halkitis, also emphasized the significance of the event during the March 19 launch ceremony.
“Today’s gathering marks more than the start of preparations for an important meeting. It represents the beginning of a renewed conversation about the future of the Caribbean, about our shared aspirations, our common challenges, and the partnerships that will shape the path forward for our region,” Halkitis said.
He added: “Hosting the 56th Annual Meeting of the Caribbean Development Bank here in Nassau provides an important opportunity to strengthen partnerships and advance meaningful dialogue on the future of the Caribbean.”
Over the five-day meeting, delegates will tackle major issues including energy transition and resilience, innovative debt solutions for Caribbean economies, and the impact of global economic shocks on regional development.
The programme features a number of high-level events including the Youth FIRE Forum, the William G. Demas Memorial Lecture, the
President’s Chat titled Financing the Future: MDB Strategies for Uncertain Times, and a series of policy seminars examining climate finance, infrastructure, economic resilience and development lending.
Among the featured participants are CDB President Daniel Best, Finance Minister Michael Halkitis, senior officials from multilateral development banks, regional finance ministers, central bank governors, economists, development specialists and private-sector leaders. The President’s Chat is expected to bring together leaders of major multilateral development banks to discuss financing strategies for developing states facing mounting economic pressures.
The annual meeting also includes sessions branded “EDGE X by CDB: Analytics Unlocked,” which will explore the economic costs of traffic congestion in the Caribbean and how global crises continue to affect regional economies.
The CDB Annual Meeting traditionally attracts representatives from the Bank’s 28 member countries, including government ministers, senior public officials, development agencies, international financial institutions, youth delegates, academics and private-sector stakeholders. Hundreds of delegates are expected to participate in discussions that will help shape development priorities and financing strategies across the Caribbean in the years ahead.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.
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