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Centre for Entrepreneurship and Innovation to Catalyze Business Resilience in Grand Bahama

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#TheBahamas, February 11, 2022 – University of The Bahamas (UB) and the Inter-American Development Bank (IDB) have formalized a partnership aimed at sparking innovation and entrepreneurship in Grand Bahama and developing capacity in digital technology for small business persons.

Officials of UB and the IDB have signed a technical cooperation agreement, commencing a three-year project for which the IDB is contributing a $500k grant and the University is matching that commitment. As a result, a Centre for Entrepreneurship and Innovation and business incubator will be established at University of The Bahamas-North (UB-North) in Grand Bahama where entrepreneurs will be trained, mentored and facilitated in using digital technology to increase their resilience.

IDB Country Representative Mrs. Daniela Carrera-Marquis said during the official announcement on Friday 4th February that many more Bahamian businesses will have the opportunity to develop the skills and ideas to thrive in a global digital arena.

“This partnership with University of The Bahamas aligns perfectly with our Vision 2025 and this vision for the IDB including Latin America and the Caribbean aims to support a more resilient recovery by focusing on five priority areas all of which are actually touched in this partnership that we are establishing with the University – regional integration, support for small and medium enterprises, promotion of the digital economy and prioritization of gender and climate change response.

“This technology focused project has the potential to impact all of these areas and we are very proud to support this endeavor. The contribution of $500k further cements our commitment to drive innovation for inclusion while improving the social, economic and environmental conditions for the most vulnerable,” she said.

Campus President of UB-North Dr. Ian Strachan explained that participants in the programme will be empowered to confidently start businesses or to expand the reach, versatility and resilience of their existing businesses.

“The boot camps, incubators and courses offered will make available to our citizens, at a crucial moment of high unemployment, much needed opportunities to retool; to gain valuable skills that will allow them to participate in the fast changing global economy.

“They will allow them to become more marketable, more competitive and to be masters of their own fate through entrepreneurship.  The skills gap and lack of diversity are key weaknesses of the Bahamian economy and this initiative seeks to tackle these head on,” Dr. Strachan said.

The goal is to establish UB-North as the STEM Campus of the UB System, drawing students from across the archipelago, the region and the world to centres of academic excellence, he added.  A business incubator will also be created along with programmes in Entrepreneurship, Computer Science, Operations Management, Electrical Engineering, Civil Engineering, Mechanical Engineering, Marine Science, Environmental Science, and Sustainable Innovation.

The lingering effects of Hurricane Dorian as well as other devastating storms and the COVID-19 pandemic have exacerbated the economic sluggishness of Grand Bahama, the country’s industrial mecca. However, the technical agreement is a part of a larger effort to stimulate an economic transformation.

Chair of the UB Board of Trustees Mrs. Allyson Maynard-Gibson also heralded the impending transformation. Through the project, 600 participants will be trained and equipped with enhanced digital skills, 300 persons will be directly assisted with starting their own businesses, 25 new courses in digital entrepreneurship and innovation will be offered at UB-North and an annual Grand Bahama Tech Expo will be hosted.

“The partnership that we celebrate today, created by a half million dollar grant from the IDB and matching commitment from UB will transform UB-North, Grand Bahama and The Bahamas. The Centre for Entrepreneurship and Innovation at UB-North will stimulate micro-, small- and medium-sized business ownership and increase the capacity of Bahamians to soar in the digital realm, ensuring our competitiveness nationally and internationally,” she said.

UB President Dr. Rodney D. Smith thanked the IDB for a longstanding partnership with the University and acknowledged that creating a robust environment for entrepreneurship has been a longstanding goal.

“I must thank the IDB for this current project on behalf of the university and for the people of Grand Bahama. We at the university have long envisioned a business and entrepreneurship incubator at the UB-North campus, as a part of that campus’ growth and for the benefit of Grand Bahama. The creation of the Centre of Entrepreneurship and Innovation is our vision realized – it will become the birthplace of innovation,” he said.

Senator the Honourable Kirk Russell heralded the government’s commitment to making the island an epicenter for innovation.

“For the Grand Bahama community, this signing further demonstrates the commitment to transform challenges into innovation. By introducing an environment where the nation’s brightest minds can embrace emerging technologies, the government demonstrates its commitment to remaining focused on the challenges ahead. COVID-19 and the economic fallout have taught us as a nation that paying attention and seeking opportunities to expand our thinking about what is ahead is critical to survival,” he said.

University leaders affirmed the institution’s critical role in the transformation that Grand Bahama is destined to experience.

 

Photo Caption: 

Header: Among the persons who attended the announcement were members of the UB Board of Trustees. Seated: from left are Senator Hon. Kirk Russell; IDB Representative Mr. Tyran Thompson; IDB County Representative Mrs Daniela Carrera-Marquis (online); Chair of the UB Board of Trustees Mrs. Allyson Maynard Gibson; UB President Dr. Rodney D. Smith; Campus President of UB-North Dr. Ian Strachan; and Vice-Chair of the UB Board of Trustees Mr. Peter Whitehead. Standing: Trustee Mr. Barry Rassin; Staff Trustee Mr. Melvert Clarke; Student Trustee Mr. Mackenson Charles; Faculty Trustee Professor Bridget Hogg; Trustee Rev. Dr. Keith Russell; Trustee Mr. Marcus Laing; Trustee Dr. Gadville McDonald and Trustee Mr. Henry St. George.

Insert: Announcement of a $500k grant from the Inter-American Development Bank (IDB) to University of The Bahamas (UB) to spark entrepreneurship and innovation in Grand Bahama. From left are: Vice-Chair of the UB Board of Trustees Mr. Peter Whitehead; Senator Hon. Kirk Russell; IDB Representative Mr. Tyran Thompson; IDB County Representative Mrs Daniela Carrera-Marquis (online); Chair of the UB Board of Trustees Mrs. Allyson Maynard Gibson; UB President Dr. Rodney D. Smith and Campus President of UB-North Dr. Ian Strachan.

 

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New Manifestos Released as Bahamas Heads to Historic May 12 Vote

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The Bahamas, April 14, 2026 – With the 2026 Bahamian general election set for May 12, the country’s major political parties have now formally placed their plans before the electorate, offering competing visions for governance, growth and relief.

The governing Progressive Liberal Party (PLP), led by Philip Davis, launched its “Blueprint for Progress 2026” on April 8, 2026, outlining a 46-page plan focused on long-term development and systems reform. The document places heavy emphasis on energy transition, digital government, workforce training and food security, positioning the party as one seeking continuity following its first term. The full plan is publicly available online through official PLP platforms for voters to review.

Just days later, on Sunday, April 12, the opposition Free National Movement (FNM), under Michael Pintard, unveiled its 2026 Manifesto at a major event in Nassau. Spanning 54 pages, the document centers on cost-of-living relief, tax reform, healthcare expansion and housing, offering what the party describes as a more immediate response to economic pressures facing Bahamian families. The FNM has also made its manifesto accessible online.

Beyond the two major parties, the Coalition of Independents (COI) had already entered the policy space earlier, formally unveiling its long-range Vision 2030 framework on Saturday, March 1, 2025, at the Fusion Superplex in Nassau during a packed national launch led by party leader Lincoln Bain. That framework has since been complemented by a 100-day action plan released in late March/early April 2026, adding a short-term policy layer to its long-range proposals.

These policy rollouts come as the country prepares for a pivotal vote, with the Parliamentary Registration Department confirming a voters’ register of approximately 203,000 eligible voters, one of the largest in the nation’s history. Key dates are now set, with Nomination Day on April 16, followed by advance polls on April 30, ahead of General Election Day on May 12.

With platforms now in the public domain and the timeline locked in, the focus shifts squarely to the electorate—who must now weigh the promises, examine the plans and decide the country’s direction at the polls.

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

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From Concept to Approval: What a 2019 Water Security Plan Now Means for Bahamians

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The Bahamas, April 14, 2026 – At its core, the $65 million water security project is designed to strengthen the reliability, safety and resilience of the water supply across The Bahamas.

If implemented as planned, the investment is expected to improve water quality, reduce contamination risks and support public health, while increasing supply reliability and limiting service disruptions during droughts or system failures. The project also aims to expand and upgrade infrastructure, including wellfields, pumping stations and storage capacity, and to protect freshwater resources from saltwater intrusion—an increasing threat for low-lying islands. In practical terms, that could mean cleaner, more consistent and more dependable access to water for residents across the country.

The project was first conceptualised in 2019 under the previous administration, when a proposal was submitted to the Green Climate Fund to strengthen the resilience of the country’s water systems. That early work came just months before Hurricane Dorian exposed the vulnerability of national infrastructure, including critical water and sanitation systems, particularly in the northern Bahamas.

The initial phase focused on developing the concept, identifying priority areas and engaging regional and international partners, including the Caribbean Development Bank, to support the design and preparation of a full funding proposal.

Following the change in government in 2021, the project advanced into its most technical and demanding stages. The current administration oversaw the completion of key requirements, including feasibility studies, environmental and social assessments, and detailed financing negotiations with international partners—steps necessary to move the proposal from concept to approval.

That multi-year process has now culminated in approval of a $65 million financing package, combining grant funding with concessional loans to support long-term upgrades to the country’s water infrastructure.

While the project brings significant international support, it is not entirely free money. The package is structured as a blended financing arrangement, combining grant funding with concessional loans—meaning a portion of the funding will ultimately need to be repaid. Based on information released by the Caribbean Development Bank, approximately $25 million of the total package is tied to loan financing, with the remaining portion provided as grant support.

Concessional loans typically carry more favourable terms than commercial borrowing, including lower interest rates and longer repayment periods. However, they still represent debt obligations that will be borne over time.

Notably, detailed terms of the loan components—including interest rates, repayment schedules and any associated conditions—were not disclosed in the initial announcement issued by the Office of the Prime Minister (Bahamas). Those details are expected to be outlined in formal financing agreements, but have not yet been made public.

For Bahamians, the project represents both investment and obligation. While the grant funding provides a significant boost to infrastructure development, the loan component adds to the country’s long-term financial commitments—making transparency around terms and implementation timelines especially important.

While the approval marks a significant milestone, the timeline for delivery remains a critical factor. Based on information available from project partners, implementation is not expected to begin immediately. The initiative is anticipated to move into its execution phase later in 2026, following finalisation of financing agreements and completion of preparatory requirements.

From there, the project is projected to unfold over several years, with estimates suggesting a multi-year implementation period of up to seven years to fully deliver the planned upgrades to water infrastructure across The Bahamas.

This means that while the funding has now been approved, the benefits will be realised gradually rather than all at once. A definitive completion date has not been publicly outlined, and detailed timelines tied to specific islands or phases of work have yet to be disclosed.

For Bahamians, the question now shifts from approval to execution—when funds are drawn down, when construction begins, and how consistently the project moves from plan to delivery.

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

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Fuel Pain at The Pump: Global Tensions Drive Prices Up as Bahamians Feel the Squeeze

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NASSAU, Bahamas — What should be a simple five-minute drive is fast becoming an expensive, hour-long ordeal, as rising fuel prices collide with worsening traffic congestion across New Providence.

As of early April 2026, gasoline prices across The Bahamas have climbed sharply, with motorists now paying an estimated $5.50 to over $6.50 per gallon, depending on the station and grade. The increases, seen at major retailers including Esso, Rubis and Shell, reflect a volatile global oil market driven by escalating geopolitical tensions.

The latest spike — in some cases jumping more than 50 cents per gallon within days — is being driven by uncertainty surrounding escalating tensions involving Iran. U.S. President Donald Trump has issued a direct ultimatum, warning that the United States could launch aggressive strikes on Iranian infrastructure, including power plants and key facilities, if demands are not met. While he has also expressed hope for a swift resolution, the threat of rapid escalation is already rattling global oil markets — and The Bahamas, heavily dependent on imported fuel, is feeling the impact almost immediately.

At the pumps, the frustration is real.

Drivers are now paying significantly more just to sit in traffic. Commutes that once took minutes are stretching into hour-long crawls, burning fuel with little movement and compounding the financial strain. For many residents, the issue isn’t just the price per gallon — it’s how quickly that gallon disappears.

Industry players are also bracing for impact. Higher diesel prices are expected to ripple across key sectors, including trucking, construction, and shipping — all of which ultimately feed into the cost of goods and services. In short, this is not just a fuel story; it’s an inflation story in the making.

Despite the surge, the Bahamas Petroleum Retailers Association has moved to calm fears, confirming that there is no fuel shortage. Supply remains stable, but consumers are being urged to adjust behavior — from maintaining proper tyre pressure to considering carpooling — small measures that could stretch every dollar a bit further.

Retailers, however, are not offering much comfort on price relief. While fluctuations are expected, insiders say the days of sudden price drops are unlikely in the immediate term. The “shock” increases may level off, but a meaningful decline hinges on global stability — something that currently feels out of reach.

For Bahamians, the reality is tightening: higher fuel costs, longer commutes, and a growing sense that relief isn’t coming anytime soon.

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

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