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BAHAMAS: Guaranteed Loans being offered by the Government to MSMEs Impacted by Hurricane Dorian

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#Nassau, October 12, 2019 – Bahamas – Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest announced on Thursday, October 10, 2019, that $10 million will be taken from the Dormant Fund to help re-start the economies in Abaco and Grand Bahama.

The Deputy Prime Minister was speaking at a press conference at the Ministry to announce that the Access Accelerator, Small Business Development Centre (SBDC), through the Ministry of Finance and private financial partners, is offering government guaranteed loans to micro, small and medium-sized (MSMEs) enterprises directly affected by Hurricane Dorian.

He said, “Both Grand Bahama and Abaco represent some 18 per cent of our overall Gross Domestic Product and so it is in our interest and certainly significant for us to get them back and up and operating to as near normal as quickly as possible.”

The $10 million will facilitate grants, loan guarantees and equity capital for entrepreneurs residing and displaced from Abaco and Grand Bahama.

Attending the press conference were the partners involved in this initiative including Financial Secretary, Marlon Johnson; Chairperson of the SBDC Board of Directors, Geoffrey Andrews; Executive Director, SBDC, Davinia Grant; President, Grand Bahama Chamber of Commerce, Gregory Laroda; Abaco Chamber of Commerce Representative, Krista Albury; Chairman, the Bahamas Chamber Of Commerce and Employers Confederation, Khrystle Rutherford-Ferguson; and Chairman, the Bahamas Entrepreneurial Venture Capital Fund Mike Cunningham.

Ms. Grant explained that it is the goal of the SBDC to continue serving those clients it had before the storm while creating opportunities for other existing MSMEs to bounce back even better than before.

“I need to emphasise this.  We will continue to take care of our existing clients.  What is being discussed today is additional resources that have allocated by our government and our partnering financial institutions to help the 2,525 active MSMEs across Abaco and Grand Bahama, employing approximately 4,000 people.”

She said the government is providing five million dollars to guarantee up to 6.7 million dollars in loans through the Clearing Banks Association.  Two million will be given equity in partnerships and 1.3 million in microloans and grants.

Ms. Grant stated that businesspersons displaced will fill out an application form.  That form will be looked over and an executive summary created by volunteer advisors.  Those summaries and supporting documents will then be sent to the relevant banks.

The form and list of documents needed is available on www.accessaccelerator.org under the title Resources, in a tab called Dorian. She noted that it is anticipated that the process will take no more than 10 business days and disbursements for grants and microloans will be processed in four to five business days.

Mrs. Grant said displaced businesspersons who are currently in Nassau will be processed at the Edmund Moxey Centre on Baillou Hill Road.

In Grand Bahama persons can go to the BAIC building initially, until the one-stop shop is established at the CLICO building, for assistance.

In Abaco, the NIB/Inland Revenue building will be made available.

The SBDC Executive Director noted that for businesses that have been in operation for less than three years, attendance at a three-day seminar would be required for them to access these opportunities as well.

The Bahamas Chamber of Commerce will verify the authenticity of businesses seeking to access funding in order to ensure transparency and accountability.

By Llonella Gilbert

Release: BIS

PHOTO CAPTIONS

DPM Turnquest

A press conference was held to announce that the Access Accelerator, Small Business Development Centre, through the Ministry of Finance and private financial partners, is offering government guaranteed loans to micro, small and medium-sized enterprises directly affected by Hurricane Dorian.  The Deputy Prime Minister and other stakeholders spoke at the press conference at the Ministry of Finance, October 10, 2019.  (BIS Photo/Kemuel Stubbs)

Davinia Grant

Executive Director, Small Business Development Centre, Davinia Grant explained the process for businesspersons to take advantage of the guaranteed loans for businesses impacted by Hurricane Dorian on the islands of Abaco and Grand Bahama.   (BIS Photo/Kemuel Stubbs)

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Walker Confirmed as U.S. Ambassador to The Bahamas: A Partner in America’s Extended Family

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By Deandrea Hamilton | Magnetic Media

 

The United States and The Bahamas share more than proximity — they share a bond of history, trade, and culture that Washington’s newest diplomat calls “part of America’s extended community.”

Now, for the first time in 14 years, the U.S. Embassy in Nassau will again be led by a Senate-confirmed ambassador. Herschel Walker, the Heisman-winning football legend turned entrepreneur, has been confirmed by the U.S. Senate as America’s official envoy to The Bahamas.

Walker, who will oversee one of the Caribbean’s most strategically positioned U.S. missions, told senators during his confirmation hearing that The Bahamas will play a key role in upcoming U.S. 250th Independence celebrations. “The Bahamian people,” he said, “will be included in this milestone year, because our stories are intertwined — through family, trade, and friendship.”

While his nomination was unconventional, his priorities are anything but vague. Walker vowed to counter growing Chinese influence in the Caribbean, calling Beijing’s investments in Bahamian deep-water ports “a direct threat to U.S. national security.” He pledged to work closely with Bahamian authorities to ensure American interests remain the region’s cornerstone.

“There’s a rise in drug smuggling in The Bahamas, and this is a real danger to the United States,” Walker said, referring to the Operation Bahamas, Turks and Caicos (OPBAT) partnership. He promised to strengthen intelligence sharing, joint patrols, and law enforcement coordination to disrupt trafficking routes that have grown increasingly sophisticated.

But Walker also emphasized opportunity over fear — signaling that his ambassadorship will not only focus on security, but on strengthening The Bahamas as a gateway for U.S. investment, trade, and tourism.

“I will advise the American business community of the vast investment opportunities that exist in The Bahamas,” he said. “And I will make sure the Bahamian government maintains an environment where U.S. companies can invest confidently — because America must prove it is still great as an investor.”

For a small island nation sitting less than 50 miles off the coast of Florida, this renewed diplomatic attention carries weight. Since 2011, the post of U.S. ambassador had remained vacant — a gap that many observers say weakened direct ties, delayed joint security initiatives, and allowed other powers to move in.

Walker’s confirmation — approved 51 to 47 — ends that silence. And with it comes the expectation that this former Olympian and business owner will translate his discipline, charisma, and resilience into diplomatic results.

Critics question his lack of foreign policy experience, but Walker counters with confidence: “Throughout my life, people have underestimated me. I’ve always proved them wrong — by outworking everyone.”

As he prepares to take up residence in Nassau, Walker says his mission is simple: rebuild trust, deepen cooperation, and remind both nations that their futures are tied not just by geography — but by shared purpose, mutual respect, and the enduring ties of community.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

 

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PAY STANDOFF: Prime Minister Cancels Talks as Unions Warn of More Protests

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By Deandrea Hamilton | Magnetic Media

Monday, October 13, 2025 — Nassau, The Bahamas – What began as a calm holiday meeting has spiraled into a full-blown standoff between The Bahamas Government and two of the country’s most powerful public sector unions — the Bahamas Union of Teachers (BUT) and the Bahamas Public Services Union (BPSU) — after the Prime Minister abruptly cancelled follow-up talks set for Tuesday, blaming public comments made by union leaders.

The announcement of the cancelled meeting came late Monday, just hours after a tense sit-down at the Office of the Prime Minister, held on National Heroes Day, where both BUT President Belinda Wilson and BPSU President Kimsley Ferguson accused the government of dragging its feet on salary increases and retroactive pay owed to thousands of public officers.

Wilson, never one to mince words, said the Prime Minister’s “technical officers” — the very people responsible for executing his instructions — were failing to carry out his directives regarding payment timelines.

“The Prime Minister’s issue,” Wilson said, “is that he has persons working for him who are not following his instructions. If those officers would follow through on what he told them to do, we wouldn’t be here today.”

Wilson added that the BUT and other unions are demanding retroactive pay dating back to September 2024, and that all increases be applied and paid by the October payday, not December as previously stated by the Prime Minister.

“Senior civil servants already received their retroactive pay — thousands of dollars — backdated to September of last year,” Wilson charged. “We’re saying the small man deserves the same. This isn’t a gift. It’s money already earned.”

Her comments came after the government publicly insisted that the salary adjustments would be implemented by December 2025, just ahead of Christmas — a timeline unions flatly reject as too slow.

Ferguson: ‘No More Excuses’

Following Wilson, BPSU President Kimsley Ferguson delivered a fiery statement of his own, telling reporters the unions would no longer tolerate delays or mixed messages from the Davis administration.

“The Prime Minister was receptive — but we’re not accepting excuses,” Ferguson said. “If the Prime Minister’s having a memory lapse, we have the Hansard from Parliament to remind him exactly what he promised public officers.”

Ferguson went further, warning that if Tuesday’s meeting failed to produce results, unions would “visit the House of Assembly” and intensify their campaign for immediate payment.

“Public servants, ready yourselves,” he declared. “We are prepared to stand together — all across The Bahamas — until our needs are met.”

Now, with the Prime Minister cancelling tomorrow’s talks altogether, that threat appears closer to becoming reality.

Government Bungles Response

Observers say the administration’s handling of the matter has been confused and contradictory, with conflicting statements on payment timelines and poor communication fueling frustration among teachers, nurses, and general public officers.

The government has maintained that the funds are allocated and will be disbursed before year’s end, but unionists insist they’ve heard it all before — and this time they want results, not promises.

The Prime Minister’s decision to cancel the meeting, rather than clarify or de-escalate tensions, has drawn sharp criticism across social media and among rank-and-file civil servants who see the move as punitive and dismissive.

Slowdown and the Threat of Another Mass Protest

Across several ministries, departments, and schools, reports are already surfacing of a go-slow in the public service, as workers express solidarity with the unions’ demands.

Many believe another mass demonstration is imminent, similar to the one staged last week Tuesday when thousands of workers gathered outside the House of Assembly on Bay Street as Parliament reopened after summer recess.

That protest brought parts of downtown Nassau to a standstill as union members sang, marched, and even sat in the street — a powerful show of defiance that now threatens to repeat itself unless the government moves quickly to resolve the impasse.

A Political Flashpoint

What began as a straightforward salary dispute has now evolved into a test of credibility and competence for the Davis administration. With a restless public sector, rising inflation, and unions unified across professions, the government risks not only another protest — but a full-blown industrial crisis heading into the year’s end.

For now, the unions are standing firm: they want retroactive pay from September 2024 and full salary adjustments by this October. Anything less, they warn, could push the country’s workforce from a slowdown into open confrontation.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Nassau Cruise Port Marks Sixth Anniversary with Exciting New Additions for Visitors and The community

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[Nassau, Bahamas, October 8, 2025] Nassau Cruise Port (NCP) proudly celebrates its sixth corporate anniversary by unveiling a series of transformative additions that further enhance the guest and community experience. The anniversary comes at a pivotal moment in the growth of the port, with the opening of a new swimming pool, an expanded marina, and a state-of-the-art ferry terminal that will support transfers to the Royal Beach Club, which is currently under construction on Paradise Island.

Since its $300 million redevelopment, Nassau Cruise Port – the largest transit cruise port in the world – has welcomed millions of visitors and become one of the most vibrant cruise destinations in the world. This anniversary not only reflects its commitment to delivering world-class facilities, but also its dedication to creating meaningful connections between visitors and the Bahamian community.

“This milestone represents much more than the passage of time,” said Mike Maura, Jr., CEO and Director of Nassau Cruise Port. “It reflects our promise to continually elevate the guest experience, contribute to the local economy, and provide opportunities for Bahamians. During our first year (2019) of operating the Nassau Cruise Port, Nassau welcomed approximately. 3.85 million cruise guests, and 2025 will see well over 6 million cruise visitors visit Nassau. Our focus on driving cruise tourism and the $350 million investment in our downtown waterfront is a testament to our vision of making Nassau a premier cruise and leisure destination.”

The new pool offers a refreshing retreat for visitors enjoying Nassau’s waterfront, while the expanded marina will accommodate additional yachts, boosting tourism and local commerce. The ferry terminal expansion enhances passenger flow and supports convenient, seamless transfers to the Royal Beach Club, strengthening Nassau’s position as a hub for Caribbean cruising and leisure.

As part of its anniversary celebrations, NCP will host a series of internal and external activities to celebrate its team and to highlight its ongoing investments in the Bahamian economy, including job creation, local vendor opportunities, and cultural showcases at the port.

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