Bahamas News
Government of The Bahamas & UNDP release new Report highlighting dual impact of Dorian & COVID on Micro, Small and Mid-sized Enterprises
2% of MSMEs affected by Hurricane Dorian and COVID-19
Grand Bahama small biz score higher level of vulnerability than Abaco
#TheBahamas, February 25, 2022 – A new report offering fresh insight into the impacts of COVID-19 and hurricane Dorian on Micro, Small and Mid-sized Enterprises (MSMEs) in Grand Bahama and Abaco is now available to the Government, people and business sector of The Bahamas.
The report – Socio-Economic Impact Assessment of Hurricane Dorian and the COVID-19 Pandemic on MSMEs in The Bahamas – includes in-depth analysis from UNDP’s Multidimensional Vulnerability Index (MVI) which uncovers many layers of vulnerability of MSMEs in the face of crisis. Ranking vulnerability based on 12 indicators,
the MVI scores of the MSME sector in the Bahamas are offering a more nuanced and holistic analysis of the impact of the hurricane and pandemic crises.
The Impact Assessment was commissioned by the United Nations Development Programme (UNDP) Multi Country Office in Jamaica and UNDP SURGE Data Hub Country Support Management Team and Crisis Bureau, working in partnership with the Ministry of Finance of The Bahamas and the Small Business Development Centre (SBDC), Access Accelerator, and The Organization for Responsible Governance which conducted the study.
The report is based on findings from a survey of 486 MSMEs in Abaco and Grand Bahama between November 2020 and February 2021, combined with ‘Livelihoods Meeting’ interviews, and available research on the impacts of Hurricane Dorian and COVID-19.
Key findings indicate that: 63.2% of MSMEs were affected by both Hurricane Dorian and COVID-19, with more businesses in Grand Bahama (75.2%) being affected by both the storm and pandemic, compared to Abaco where 50% of MSMEs were impacted by the hurricane alone; More than 55.2% of MSMEs in Abaco closed permanently compared to 11.6% of businesses in Grand Bahama; Grand Bahama had a higher rate of vulnerable businesses (90%), compared to Abaco (84%), based on MVI scores.
The report also provides detailed, disaggregated information on the socio-economic impacts on MSME products and services, sales and financial performance; business inputs and hours and COVID 19 adaptations and adjustments; and an assessment of the efficacy of post Dorian and COVID support interventions on MSMEs.
Recommendations for policy development focus on improving resiliency, social and economic recovery and mitigating the impact of future crises on the sector. The SBDC intends to use findings to strengthen its assistance to MSMEs in the affected islands through its Access Accelerator programme.
“In times of crisis the MSME sector must recover as quickly as possible in order to expedite economic recovery while ensuring the displaced and dispossessed can survive. UNDP remains committed to bolstering the resilience of this important sector as a part of its crisis prevention and recovery services to the countries we serve in the western Caribbean,” UNDP Resident Representative Denise E Antonio outlined.
She said with MSMEs representing 99% of Bahamas’ business licenses and 18% of Bahamas’ GDP, national capacities and access to quality data must be strengthened to ensure that the best fit for purpose crisis prevention and recovery tools and policies are employed to strengthen the resilience and sustainability of the sector.
Davinia Bain, Executive Director of the Small Business Development Centre (SBDC) said Bahamian MSMEs face an extreme challenge in recovering from the twin blows of the disruptions caused by the COVID19 pandemic and the devastation of Hurricane Dorian. “These businesses are ‘highly vulnerable’ to the ravages of the COVID19 pandemic, particularly those with two employees, which manifested the highest vulnerability rate (94%), followed by those with three to five employees (90%) and then those who are self-employed reflected the third highest business vulnerability (89%), which correspond to the vulnerability rate for the whole sample (89%). Interestingly, the analysis showed that single-employee businesses exhibit the lowest vulnerability (84%), as compared to the other business sizes. They have also proven incredibly vulnerable in the face of Hurricane Dorian,” she said.
“ UNDP’s recent assessment of the social and economic impact and efficacy of the post-Dorian and COVID support programmes on MSMEs in Grand Bahama and Abaco, together with the recommendations for policy development to improve resiliency, promote social and economic recovery and mitigate the impact of future disaster on MSMEs, help clarify what we think is the central point: Data is key to transformational government policy, particularly
government policy aimed at assisting MSMEs as they seek to pivot and expand in a post-COVID19, post-Hurricane Dorian market. Understandable, usable, accessible and credible data is necessary for driving both government policy and business digitalization, and the kind of data represented by the Socio-Economic Impact Assessment (SEIA) is therefore clearly critical for both government and our clientele,” Ms Bain stated.
The report acknowledges that the unprecedented scope of the crises; the proximity of timing between the two events; and limitations of available data and government data analyses systems present a complex and challenging situation to the Government of The Bahamas as it works to develop policies, plans and resources to aid in the recovery resilience and sustainability of MSMEs
“The primary objective of these recommendations is to support the recovery and development of systems to improve the resilience of MSMEs such that they can play a greater role in the future sustainability and resilience of Grand Bahama, Abaco, and The Bahamas as a whole” the Report states.
In the aftermath of hurricane Dorian, UNDP contributed over USD one million in technical assistance services to the hurricane relief, recovery and rebuilding efforts in The Bahamas. The impact Assessment is part of a comprehensive programme of support to these efforts, now bolstered by COVID relief and recovery support. The UNDP Multi Country office located in Kingston which serves Jamaica, Bermuda, Cayman Islands, The Bahamas and Turks and Caicos Islands has a robust crisis prevention and recovery portfolio which it has leveraged over the years to support countries in times of crisis. Crisis prevention and recovery services to the MSME sector is an important plank of its technical support services.
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.
