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Agreement signed for $250M major redevelopment of Nassau Cruise Port: Bahamians to own majority of shares

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#Nassau, August 29, 2019 – Bahamas – The Government of The Bahamas today signed a Heads of Agreement with Nassau Cruise Port Ltd. for a $250 million-dollar major redevelopment of the Nassau Cruise Port, marking the start of a landmark development and signaling a major step toward the long-awaited revitalization of Downtown Nassau.

Global Ports Holding, an entity of Nassau Cruise Port Ltd, will spearhead the transformation of the Port and will be the Port operator under a 25-year management agreement – part of a unique consortium that has been negotiated to transform the Nassau Cruise Port into one of the more beautiful and exciting cruise ports in the world.

“Today’s signing is an extraordinary day for the Bahamian people and for the residents of New Providence,” said Prime Minister the Most Hon. Dr. Hubert Minnis. “We are embarking on a quarter of a billion-dollar project to redevelop what will become the iconic, world-renowned and new Nassau Cruise Port.”

At the signing ceremony held at the site of the development at Festival Place, Prince George Wharf, Prime Minister Minnis emphasized that the majority of the shares for the new Port will be owned by Bahamians and Prince George Wharf will remain wholly-owned by the Government of The Bahamas.

The new world-class port will include a new terminal, a waterfront park, a harbor village, a new inner harbor, amphitheater, Junkanoo Museum, shops, restaurants and an impact theater. New passenger transfer and parking and waiting areas to ensure the smooth and efficient operations by existing licensed taxi and tour operators are also part of the redevelopment.

“Our mission as a country is to have a dynamic and diverse tourism mix that promotes sustainability, environmental protection, long-term growth and economic opportunity for the broadest number of Bahamians possible,” said Prime Minister Minnis.

Economic opportunity

During construction there will be approximately 500 jobs, and recreational, entertainment, shopping and food and beverage spaces will be owned solely by Bahamians who will be able to rent or lease spaces designed around various aspects of Bahamian culture.

The number of berthing facilities for cruise ships will be expanded from six to eight, which will mean even more cruise passengers and more economic opportunities for Bahamians throughout the economy, including farmers, artisans, store owners, taxi, tour and heritage operators, straw vendors, hair braiders, restaurant owners and others.

Nassau Cruise Port Ltd. includes three entities, Global Ports Holding (GPH), the Bahamas Investment Fund (BIF) and the YES (Youth Education and Sports) Foundation. The majority of the shares for the new port will be owned by Bahamians through the BIF and YES Foundation.

Current vendors and shop owners at Prince George Wharf will be guaranteed retail spaces under the redevelopment, and retail and product training will be provided to small business owners and entrepreneurs as part of the agreement.

GPH, which is headquartered in London and is publicly traded on the London Stock Exchange, is the largest cruise port operator in the world, with ports in destinations such as Havana, Cuba; Singapore; Lisbon, Portugal and Barcelona, Spain. GPH will make The Bahamas its American headquarters for North, Central and South America.

BIF will offer to Bahamians and Bahamian residents two classes of Investor Shares – Class A and Class B – on a ‘bottom-up’ basis with the objective to achieve participation by approximately 20,000 investors.

Class A Investor Shares will represent an investment in equity and the Class B Investor Shares will represent an investment in debt. The minimum investment for the Class A Investor Shares will be $1,000 and for the Class B Investor Shares the minimum investment will be $50,000.

“Our vision is to enable scores of Bahamians to become greater shareholders in the tourism sector in general and in the Nassau Cruise Port in this instance,” said the Prime Minister.

“This holds the potential for a long-term sustainable investment that will help individuals, small business people, labour unions, cooperatives, pension funds and other groups to create wealth and save.”

YES Foundation

The YES Foundation will fund causes promoting youth, education and sports for Bahamian young people and will also provide sustainable support that will help to develop a new generation of athletes in various sports.

Under the HOA, the developers will provide initial funding of $3 million to the YES Foundation, and allocate issued shares corresponding to two percent of the share capital of the company.

The developer will also provide:

• A $1 million grant to fund the operations of the Small Business Development Centre (SBDC)

• A $2 million grant to fund micro loans issued by the SBDC.

• Two million dollars to The Bahamas Agricultural and Industrial Corporation (BAIC) for its support of qualified local artisans and farmers.

• A $10 million grant to BIF for its funding of loans to qualifying Bahamians for their investment in the project through BIF.

• An $8 million contribution to a green management plan and a redevelopment initiative for downtown Nassau in conjunction with the Downtown Nassau Partnership.

Culture and Heritage

“The Nassau Cruise Port will showcase to the world the brilliance, the richness, the diversity, and the unique and vibrant culture of The Bahamas,” said Prime Minister Minnis.

Bahamian culture, history and heritage will be showcased in the design of and in the services and products offered at the new Port and will offer tremendous opportunities for Bahamians in the creative arts and the creative economy.

A Junkanoo Museum will be developed and curated under the guidance and supervision of an advisory council headed by Percy ‘Vola’ Francis.

The redevelopment of the Nassau Cruise Port is part of the Government’s vision to transform the Nassau Waterfront, “into one of the most vibrant dynamic, attractive and exciting waterfronts in the region,” said the Prime Minister.

Release: Office of the Prime Minister

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Caught in the Net, Not Accused of Wrongdoing

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What the Attorney General must do now to protect Bahamian exports

Deandrea Hamilton | Editor

NASSAU, Bahamas — The United States’ decision to impose a 12.5 percent tariff on Bahamian exports is about more than higher costs for seafood, rum and other goods entering the American market. It is a warning that The Bahamas must move quickly to strengthen or clarify its legal framework governing forced labour and supply-chain enforcement.

The tariff, which takes effect July 24, is part of a sweeping U.S. trade action affecting 60 economies following a review by the Office of the U.S. Trade Representative (USTR). The review concluded that the listed countries have not adequately prohibited or enforced measures against goods linked to forced labour in global supply chains.

The action follows a recent U.S. Supreme Court ruling that invalidated an earlier series of Trump-era tariffs imposed under emergency powers. In response, the Trump administration shifted to a different legal authority—Section 301 of the Trade Act of 1974—using findings from a U.S. Trade Representative investigation into forced-labour compliance to support a new round of tariffs affecting 60 economies, including The Bahamas.

Importantly, the action does not accuse Bahamian businesses of using forced labour. Instead, it reflects the U.S. view that The Bahamas’ legal or enforcement framework does not yet meet the standard Washington expects.

That distinction matters.

The Attorney General’s Office now has the responsibility to lead the country’s legal response. That begins with determining precisely what concerns the U.S. Trade Representative identified, reviewing whether Bahamian law adequately addresses those concerns and, where necessary, recommending legislative or regulatory changes. If deficiencies exist, legal amendments and stronger enforcement could help position The Bahamas for removal from the tariff list.

The government may also seek formal discussions with U.S. officials while those reforms are undertaken, outlining a clear timetable for compliance and demonstrating that the country is committed to meeting international labour standards.

A Nassau Guardian front-page report on July 24 drew attention to the tariff action, prompting broader questions about why The Bahamas was included among the 60 economies affected by the U.S. trade measure and what steps are now needed to restore full confidence in the country’s trade framework.

For many Bahamians, the immediate concern will be the fisheries sector, one of the country’s largest export industries. Commercial shipments of lobster, conch, fish, crawfish and other products entering the United States could become more expensive because of the additional tariff, potentially affecting exporters’ competitiveness.

The broader lesson is that international trade increasingly depends not only on quality products, but also on strong business relationships and confidence in the legal systems that govern them.

For The Bahamas, this is less a finding of wrongdoing than a reminder that international credibility is earned through modern laws, effective enforcement and trusted partnerships. The challenge now is for the Attorney General’s Office to lead a swift legal review, identify any deficiencies and chart a clear path toward compliance so Bahamian exporters are not burdened any longer than necessary.

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What 45 Shell Casings and New Murder Charges May Mean for Three Officers in the Azario Major Case  

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By Deandrea Hamilton | Editor

NASSAU, Bahamas (July 16, 2026) — The allegation is as shocking as it is consequential. Prosecutors now contend Azario Major was struck by additional gunfire after he was already dead.  That conclusion has prompted the Director of Public Prosecutions to upgrade the case against three police officers from manslaughter to murder ahead of a judge-only trial.

According to court filings and the DPP’s review of the forensic evidence, prosecutors allege that additional rounds entered Major’s body after death, a finding they say fundamentally changed their assessment of the case and justified the more serious charge of murder.

Investigators recovered 45 spent shell casings at the scene of the Boxing Day 2021 fatal shooting of Azario Major, a striking piece of forensic evidence that has remained central to the case from its earliest days.

Major, 31, was fatally shot by police outside Woody’s Bar on Fire Trail Road on December 26, 2021. While police initially maintained the shooting was justified, the circumstances surrounding the incident were heavily scrutinized during a Coroner’s Court inquest, where jurors ultimately returned a verdict of homicide by manslaughter.

The officers later challenged that finding, but the Supreme Court upheld the Coroner’s Court ruling, paving the way for criminal proceedings. They were subsequently arraigned on manslaughter charges and pleaded not guilty.

The DPP’s decision to elevate the charges to murder significantly raises the legal stakes. Unlike manslaughter, which does not necessarily require proof of an intent to kill, a murder conviction requires prosecutors to establish the legal elements of the more serious offence beyond a reasonable doubt. The prosecution’s case is now expected to focus heavily on forensic evidence, ballistic analysis and the sequence of gunfire during the fatal encounter.

The case is also notable because it will proceed without a jury. Barring further delays, the trial is expected to open on September 14 before Justice Guillimina Archer-Minns in a judge-alone trial, where a single judge—not a jury—will decide the fate of the three accused officers.

The proceedings will determine not only whether the three officers are guilty or innocent of murder, but whether prosecutors’ extraordinary allegation—that Azario Major was struck by additional gunfire after he was already dead—can be proven in court.

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CARICOM Targets Affordability as Bahamas, TCI Continue to Feel the Pinch  

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By Deandrea Hamilton

 

Cheaper shipping. Lower energy costs. Better access to healthcare. Stronger consumer protections.

Those are among the measures CARICOM Heads of Government believe could finally begin reducing the stubbornly high cost of living for millions of people across the Caribbean.

Meeting in Saint Lucia, regional leaders agreed that making life more affordable must become one of the Community’s highest priorities. Their emerging strategy includes reducing freight costs through a regional ferry service, accelerating renewable energy projects to lessen dependence on imported fuel, expanding regional healthcare partnerships, strengthening consumer protection, and encouraging governments to adopt successful cost-of-living measures already being implemented across the Caribbean.

“Our discussions over the past four days were guided by one central objective – ensuring that CARICOM delivers results that people can see and feel in their everyday lives,” CARICOM Chairman and Saint Lucia Prime Minister Philip J. Pierre said.

Few places may welcome that relief more than The Bahamas and the Turks and Caicos Islands.

Although inflation has moderated in both countries from the sharp increases experienced following the pandemic, the cost of living remains stubbornly high. Families continue to complain about grocery bills that stretch household budgets, rising housing costs, expensive electricity, healthcare expenses and fuel prices that remain among the highest in the region.

Governments have responded.

In The Bahamas, successive reductions in Value Added Tax on selected goods and other targeted tax measures have sought to ease pressure on consumers. In the Turks and Caicos Islands, the Government this weekend opens applications for its $500 Cost of Living Relief Programme, acknowledging that many households continue to struggle despite the country’s economic success.

Yet affordability remains elusive.

The contradiction is difficult to ignore.

The Turks and Caicos Islands continues to post one of the region’s strongest tourism-driven economies, with robust investment, record visitor spending and sustained construction activity. The Bahamas has also strengthened its economic position, earning improved sovereign credit ratings as tourism, government revenues and fiscal performance continue to recover.

Yet those encouraging economic indicators have not translated into noticeably lower household expenses.

The reason is largely structural.

Both The Bahamas and the Turks and Caicos Islands produce relatively little of what they consume. Food, fuel, medicines, vehicles, building materials and countless household essentials are imported. Both countries also record significant trade deficits, illustrating their dependence on overseas suppliers. Every increase in global shipping costs, fuel prices or supply chain disruptions is eventually reflected in supermarket prices, utility bills and the cost of everyday living.

That is why CARICOM’s agenda matters.

If regional leaders succeed in lowering freight costs through an inter-island ferry network, expanding renewable energy, improving regional cargo movement, strengthening consumer protections and making healthcare more accessible through cooperation, the benefits could extend far beyond government balance sheets.

For Bahamians and Turks and Caicos Islanders, success will not be measured by another tourism record or another credit rating upgrade. It will be measured at the supermarket checkout, on the monthly electricity bill, at the gas pump and in the simple ability to afford a better quality of life.

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