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TCI Mortgage Corporation established as Community Projects put on the back burner

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Deandrea Hamilton

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#TurksandCaicos, March 26, 2024 – The Turks and Caicos now has a Mortgage Corporation Fund, established through an act of parliament on Monday March 25 to the tune of $7 million dollars and aimed at promoting and encouraging more home ownership in the Turks and Caicos Islands.

While the notion of the Fund was embraced by representatives in the House of Assembly, there was vocal resistance to where the monies to prop up the Fund were pulled from; 12 community projects which failed to materialize during this fiscal year have now been scrapped, at least for now.

“The PNP government is doing the right thing for the wrong reasons,” said Edwin Astwood, Leader of the Opposition, in response to our question about his party’s support of the Fund.

“They have no policy, no plan, no guidelines, no terms of reference, nothing for the establishment of this.”

It took the passage of a fourth Budget Supplementary, which re-allocated the monies from the Ministry of Physical Planning and Infrastructure Development.  Listed in the Supplementary Appropriation papers as “projects to be re-assessed and re-appropriated” were the $1.5 million enhancement and restoration of Conch Ground in South Caicos; $2.7 million for the construction of a Community Center in Bottle Creek, North Caicos; $800,000 for the Bambarra Beach huts renovation in Middle Caicos; $650,000 for upgrade to the Bight Park in Providenciales; $550,000 refurbishment of the Horse Stable Beach complex, in North Caicos; $550,000 renovation of the Fuller and Clementina Walkin Park in Blue Hills, Providenciales; $250,000 refurbishment of the Sylvia Melhado Aged Care Center and a combined $365,000 for four vehicles, specifically a vehicle for the Health Promotions and Advocacy Unit; a bus for the Immigration Department and two wheelchair accessible vans; one of them for the SNAP Center in Provo and the other for the Eliza Basden Aged Care Center in South Caicos.

“I did not support it,” said Astwood, explaining that, “to purchase a wheelchair accessible van should not take 365 days and have to be brought back.  That was one of the 12, total adding up to some $7M.”

With mere days to go in the 2023-2024 fiscal period, the PNP Administration laid its fourth Budget Supplementary which was not adding to national spending, it was shifting millions of unspent dollars around before the sun completely sets on the Budget Year on Sunday March 31.

The aim of the Mortgage Fund is frustrate the unhealthy, excessive cost of housing as the Turks and Caicos faces a crisis when it comes to demand for affordable housing.  A significant barrier to addressing this very serious concern, as the Turks and Caicos economy experiences exponential growth is funding.

During the July 2023 launch of the National Housing Policy, it was announced that a survey found too many residents were paying in excess of 50 percent of their income on housing, 21 percent were residing in homes which were in need of repair and nearly 70 percent were looking to buy their own homes within the next five years.

But there is little hope of affordable financing for home purchases or home renovations; banks were criticised at the event during a Q&A period for unfriendly lending terms.

With the cost of living considerably higher in the Turks and Caicos Islands, the banking representative explained that among the considerations at play was the salaries of public sector workers, in particular.

Minimum wage and public sector salaries have now been raised by the Government and this newest Budget Supplementary has given money to jump start the corporation, which now makes up part of the National Wealth Fund.

“The Fund shall consist of the Stabilisation Fund; Infrastructure and Competitiveness Fund; Heritage Fund and Mortgage Corporation Fund.”

The Department of Housing, last July had informed that 32 percent of survey participants wanted the Government to get involved; hoping for benevolence which would turn home ownership dreams to reality.

 

CAPTION:

Bambarra Beach Huts in January 2021, before a fire ravaged the cute, colourful vendor stalls in April the following year.  Budgeting for development of the site is again delayed, even as Bambarra in Middle Caicos, Turks and Caicos Islands has now captured the title of #2 Best Beach in the Caribbean in USA Today’s 10 Best Reader’s Choice awards.  PHOTO BY TCI TOURIST BOARD.

Health

Cleveland Clinic First in Ohio to Perform Robotic Nipple-Sparing Mastectomy  

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Health system is among only a handful in the U.S. to offer the minimally invasive robotic procedure Cleveland Clinic is among the first hospitals in the country – and the first in Ohio – to perform a robotic nipple-sparing mastectomy procedure, following recent clearance by the U.S. Food and Drug Administration.

Stephanie Valente, D.O., and a surgical team recently performed the first robotic nipple-sparing mastectomy with immediate breast cancer reconstruction at Cleveland Clinic Fairview Hospital. The procedure offers a new minimally invasive approach to breast cancer surgery and risk-reducing mastectomy for patients at elevated risk.

This milestone places Cleveland Clinic among a select group of centers nationwide offering the advanced technology and brings one of the newest innovations in breast cancer surgery to patients in Northeast Ohio.

“This robotic approach offers greater precision through a much smaller incision, which can mean less visible scarring and faster recovery,” said Dr. Valente, director of the Cleveland Clinic Breast Surgery Fellowship Program and director of the West Region Multidisciplinary Breast Program. “Compared with the traditional procedure, which requires a larger incision, this approach can improve cosmetic outcomes, preserve the skin and nipple, and support a more natural appearance after surgery.”

During the procedure, surgeons use a 3D camera and robotic instruments inserted through a small incision of one inch, typically hidden along the side of the breast rather than across the underside, to remove breast tissue while preserving the nipple, areola and skin. The robotic platform, the da Vinci SP Surgical System, provides enhanced visualization and precision while minimizing disruption to the overlying skin.

Robotic surgery gives the surgeon better visualization of the operative field in what is typically a technically challenging procedure. This enhanced view can improve nerve identification and preservation, reduce blood loss and allow surgeons to perform the same oncologic operation through a one-inch incision rather than the traditional five-inch open incision.

The robotic approach removes the same breast tissue as a conventional mastectomy, while changing how the surgeon accesses the breast. For some patients, breast reconstruction can be performed during the same operation.

This approach is designed to reduce scarring, enhance cosmetic outcomes, preserve the natural skin envelope and nipple, improve sensation and accelerate recovery. For some patients, the less visible incision may also support confidence and body image after surgery. The procedure further expands Cleveland Clinic’s minimally invasive breast surgery options, which include endoscopic nipple-sparing mastectomy.

“As a field, we haven’t had many new options for patients with breast surgery for a decade now, so we are pleased to now have these minimally invasive procedures available for our patients,” said Dr. Valente. “Innovations like this support a more patient-centered experience as they allow us to address both the physical and emotional realities of breast cancer.”

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News

Invest Turks and Caicos Officially Opened Caya Hico Collective, Grand Turk MSME Storefront

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Providenciales, Turks and Caicos Islands – Friday, 2nd October 2026: Invest Turks and Caicos officially opened Caya Hico Collective, the Grand Turk MSME Storefront, on Friday, September 18, 2026, marking a significant milestone in the Agency’s ongoing efforts to support local entrepreneurs, expand access to market opportunities, and strengthen the small business ecosystem.

Caya Hico Collective has been established as a dedicated retail space to showcase and sell locally made products, initially featuring entrepreneurs participating in the MSME Programme. As the initiative develops, there are plans to expand participation to include other small businesses producing locally made goods, including those not directly supported under the Programme. The storefront will provide local businesses with greater exposure and direct access to both residents and the thousands of visitors who arrive in Grand Turk each year creating stronger linkages between local entrepreneurs and the tourism economy. The store currently features fourteen (14) inaugural vendors, representing a diverse selection of local businesses and products from across the Turks and Caicos Islands.

Speaking on the significance of the initiative, Ms. Alexa Cooper, Chief Domestic Investment Officer, said:

“This storefront represents a practical and meaningful step in supporting our MSMEs by providing access to market, one of the most critical components of business growth. It is a space where local talent, creativity and entrepreneurship can be showcased, supported and connected with new customers.”

A Name Chosen by Grand Turk’s Youth

The name Caya Hico Collective was selected through the Grand Turk MSME Storefront Naming Competition, an initiative conducted in partnership with H.J. Robinson High School. Students were invited to propose an original name that reflected Grand Turk’s identity, culture and heritage while also being suitable for a storefront showcasing locally made products.

Following an independent judging process, Mauvarii Selver was selected as the competition winner for the submission Caya Hico Collective.

The name was recognised for its cultural and historical significance, distinctiveness and strong storytelling potential. “Caya Hico” is derived from the Lucayan term meaning “string of islands,” reflecting the archipelagic identity and heritage of the Turks and Caicos Islands. The use of “Collective” further reflects the purpose of the storefront: bringing together products from multiple local entrepreneurs under one shared retail platform. Together, the name Caya Hico Collective connects the Islands’ heritage with the initiative’s vision of bringing local businesses, products and creativity together in one space.

The naming competition provided students with an opportunity to participate directly in a real-world branding exercise and contribute to an initiative that will form part of Grand Turk’s commercial and tourism landscape.

Mauvarii was formally recognised during the opening ceremony, alongside the other students who participated in the naming competition, the inaugural MSME vendors, and key stakeholders whose contributions supported the successful development and opening of the storefront.

Angela Musgrove, Chief Executive Officer of Invest Turks and Caicos, added:

 “Caya Hico Collective is more than a retail space. It reflects our continued focus on strengthening linkages between local businesses and the tourism sector, creating more opportunities for MSMEs to reach visitors, increasing sales and participate more fully in the tourism economy. At the same time, it gives visitors greater access to authentic products that reflect the creativity and culture of the Turks and Caicos Islands.”

Supporting Local Enterprise and Tourism Linkages

Caya Hico Collective is expected to serve as an important platform for local entrepreneurs by increasing the visibility of locally produced goods, creating additional sales opportunities and providing visitors with greater access to authentic products from the Turks and Caicos Islands.

Through the storefront, Invest Turks and Caicos aims to encourage residents and visitors alike to discover, purchase and support locally made products, while creating a stronger connection between entrepreneurship, culture and the visitor experience in Grand Turk. The initiative is intended to increase opportunities for local businesses to benefit from tourism activity by connecting visitors directly with locally made products that showcase the creativity and talent of entrepreneurs across the Turks and Caicos Islands. This forms part of Invest Turks and Caicos’ broader commitment to promoting economic diversification, sustainable business development and stronger linkages between local enterprises and the tourism sector.

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Bahamas News

Walk for the Cure Every Saturday This October  

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Nassau, Bahamas, 1 October 2026 – Every Saturday this month, communities across The Bahamas will take steps in support of cancer patients and survivors as CIBC Caribbean’s Walk for the Cure returns to New Providence, Abaco, Eleuthera, and Grand Bahama.

CIBC Caribbean Head of Country, Terrance Gibson, said, “Each Saturday in October represents another community coming together, another opportunity to raise awareness and, most importantly, more support for the organizations that are doing this work every day.”

The month of activities begins this Saturday, October 3, in New Providence, with participants gathering at the Goodman’s Bay Corporate Centre for a 6:30am start.

CIBC Caribbean Walk Champion, Antionette Fox, said the series of walks gives communities across the country an opportunity to contribute to a cause that directly supports Bahamian cancer organizations.

“Every Saturday for the month of October, there will be a walk that you can participate in to contribute towards this worthy cause,” Fox said.

In New Providence, the morning will extend beyond the walk itself, with Zumba, wellness activities, informational vendors, and opportunities for participants to connect with organizations working directly with cancer patients and survivors.

Gennie Dean Caring and Sharing Cancer Support Group President Duquesa Dean said participants do not have to complete the full route to be part of the morning.

“Just come out…there is something for everyone, come for the community,” Dean said. “There’s a survivor ceremony, so come and participate and celebrate the people who have gone through cancer and are here as evidence that you could live after a cancer diagnosis.”

The Gennie Dean Caring and Sharing Cancer Support Group is one of eight cancer organizations in The Bahamas that benefit from funds raised through Walk for the Cure. The others are the Sister Sister Breast Cancer Support Groups of New Providence and Grand Bahama, Cancer Society of The Bahamas, the Cancer Societies of Abaco, Eleuthera, and Grand Bahama, and the Cancer Association of Grand Bahama.

Dean explained that CIBC Caribbean covers the cost of staging WFTC, allowing donations raised to support the work of beneficiary organizations.

For her organization, that assistance translates into tangible support for people navigating cancer, including food assistance, financial aid, prosthetic breasts, and mastectomy bras, as well as programs such as Step Into Wellness, which promotes movement and healthy living among cancer patients and survivors.

Corporate partners are also helping to strengthen this year’s effort. Bamboo Shack has joined the initiative as a gold sponsor, with representative Ghandi Pinder sharing that the cause has a personal significance for her.

Pinder recalled shaving her hair in solidarity with her sister after she was diagnosed with an aggressive form of breast cancer and began losing her hair during chemotherapy.

“We see you, we’re here with you, we’re in it with you,” Pinder said of Bamboo Shack’s message to those affected by cancer.

She also encouraged more of Corporate Bahamas to support initiatives that directly impact the communities they serve.

“At Bamboo Shack, we always say a better Bahamas begins with you… Together, we can make a difference,” she said.

Registration for Walk for the Cure is $30 for adults and $15 for children and can be completed at any CIBC Caribbean branch. CIBC Caribbean clients can also donate through online banking.

The New Providence Walk begins promptly at 6:30am on Saturday, October 3, at the Goodman’s Bay Corporate Centre, followed by Walk for the Cure events in other islands each Saturday throughout October. The Grand Bahama WFTC event will be held on October 10 and the Abaco and Eleuthera WFTC events will occur on October 17 and October 24 respectively.

Gibson added, “Some will walk for themselves, some in celebration of a survivor, and others in memory of someone they have lost. Whatever brings you to Walk for the Cure, every person who shows up becomes part of a much bigger expression of support for those affected by cancer.”

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