Bahamas News
BAHAMAS: PM Urges Credit Unions to Empower the Poor
#Atlantis, July 31, 2019 – Paradise Island, The Bahamas – Commending credit unions on tremendous growth over the years, Prime Minister, the Most Hon. Dr. Hubert Minnis urged the organization to put the demands of the poor at the forefront.
He was addressing the World Council of Credit Unions and Caribbean Confederation of Credit Unions Conference at Atlantis Ballroom, Paradise Island on Sunday, July 28, 2019.
The Prime Minister said he was pleased that the organizations have chosen, once again, The Bahamas to stage their joint conferences, which attracted over 2,300 delegates from approximately 60 countries.
In his keynote address, the Prime Minister underscored the importance of credit unions in developing countries, and encouraged far-reaching solutions to the challenges facing the poor and underprivileged.
He advised that careful attention must be paid to the increasing regulatory requirements associated with credit union operations, including: fiscal responsibility, anti-money laundering and countering terrorist financing.
“Of urgency is the grave and existential threat posed by a heating climate, which will have devastating consequences on the poorest in our countries.
“No matter the topics you discuss, may you always put at the forefront the demands of social justice and human dignity, including the needs of the disadvantaged and the poor.
“Further, the fight for universal equality, especially for women and ethnic and other minorities are also the cause of those who love justice and who promote peace,” the Prime Minister said.
The worldwide credit union movement is seen as a formidable force with approximately 89,000 credit unions in 117 Countries across six continents. Additionally, the movement boasts 260 million members and approximately two trillion dollars in assets.
“I note that the hosts of this conference, the World Council of Credit Unions and the Caribbean Confederation of Credit Unions are partners in various development projects,” the Prime Minister said
“Indeed, in addition to providing technical and advocacy services, the World Council of Credit Unions is involved in a variety of development programs in less-developed communities,” the Prime Minister said.
He referenced the mission of the regional host, the Caribbean Confederation of Credit Unions that “seeks to strengthen, unite and promote sustainable growth and development for co-operatives in the Caribbean, as a vehicle for socio-economic development.”
Statistics show that as at December 2018, the regional CU Sector comprised an estimated 289 credit unions, serving approximately 2.6 million members, with estimates of US$6.2 billion in savings, US$4.9 billion in loans, US$733 million in reserves and, US$7.6 billion in assets.
Given this potential, especially among smaller-sized countries, the Prime Minister observed that credit unions can play an outsized role in national development, especially in rural and less developed areas globally and throughout the Caribbean.
“This includes areas like some of our Family Island communities, which are less developed than urban centers such as New Providence and Freeport,” he said.
The Prime Minister outlined to visitors the archipelagic make-up of The Bahamas with over 700 islands, thousands of cays, a land area of approximately 5,382 square miles and approximately 2,200 miles of coastline.
And, while most Caribbean countries are a single land mass or have a few islands, The Bahamas is a far-flung island-chain with rising sea levels and “more intense storms which threaten economic and national survival,” he said.
The Bahamas is also challenged with having to replicate the same essentials services on many islands, he added. “Within this context, credit unions can play an essential role, especially in the many under banked communities we have in the Family Islands,” the Prime Minister said.
The Prime Minister applauded the sector for already offering services on quite a number of Family Islands.
“The local movement has impacted the lives of their members in many meaningful ways, including in: home ownership, higher education, small business development and favorable investment opportunities,” he said. “Indeed, credit unions offer some of the more competitive interest rates on savings in the country.”
The Prime Minister noted that the Teachers & Salaried Workers Co-operative Credit Union, the largest such entity in the country started with less than $100 dollars. Today, this Union has more than 17,000 members with over $214 million dollars in assets.
“We commend the credit union sector for collaborating with the Department of Co-operative Development by investing in our young people in the development of the School Co-operatives programme,” he said.
Through this programme, high school students learn about co-operative principles, financial literacy and how to develop their own small business enterprises. Such schools are C.R. Walker and the C. C. Sweeting High School Co-operatives Program.
By Lindsay Thompson
Release: BIS
Photo Caption: Prime Minister Minnis addresses the forum.
(BIS Photos/Yontalay Bowe)
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.
The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap
from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.
With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.
Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.
Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.
Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!
After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.
The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before
their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.
At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.
Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.
Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.
The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.
Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.
Bahamas News
The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed
their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival. Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.
As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.
Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole,
with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’. Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.
Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.
Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the
listening booth.
Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.
For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification
attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.
Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.
The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members. Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.
Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine. To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.
On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking
in the comfort of the chic lounge. In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.
The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.
Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.
To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.
