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PM Davis speaks of ‘boundless possibilities’ and collaboration, at the Afreximbank 31st Annual Meetings

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NASSAU, The Bahamas – While addressing the African Export-Import Bank (Afreximbank) 31st Annual Meetings (AAM2024), on June 13, 2024, Prime Minister and Minister of Finance the Hon. Philip Davis noted that he was reminded of the “boundless possibilities that define the Caribbean and, indeed, The Bahamas.”

“Our region is not just a collection of islands but a vibrant tapestry of culture, innovation, and opportunity,” Prime Minister Davis said, at the event held at the Baha Mar Convention Centre.  “The Bahamas, with its strategic location and dynamic economy, serves as a symbol of possibility and a gateway to broader economic horizons.”

He added:  “Growing up on Cat Island, one of our country’s beautiful family of islands, I was always filled with big dreams for my country. I may not have envisioned the specific paths our economy would take, but I always believed in the limitless potential of our nation.  Our history is one of invention, disruption, resilience, and innovation. We have pioneered in various fields, from tourism to financial services, transforming challenges into opportunities and showcasing our ability to innovate and lead.”

Prime Minister Davis pointed out that, just as The Bahamas had embraced its unique position to become a global leader in tourism and financial services, so too can they, as a collective of African and Caribbean nations, harness “our potential to shape our own economic destiny.”

“Today, our presence here underscores the readiness of The Bahamas, and indeed the Caribbean, to be a home for global leaders in various sectors,” he noted.  “The Bahamas has always been more than just a tropical paradise. It is a place of possibility, where dreams are not just dreamt but realized. This ethos is reflected in our history and in the transformative innovations we continue to champion.”

“In a similar vein, Africa is a land of immense potential, brimming with opportunities for growth and development,” Prime Minister Davis noted.  “Our collective mission is to harness this potential, creating pathways to prosperity that benefit not just our regions but the global community.”

Prime Minister Davis went further to outline “a blueprint for collaboration that we all can embrace.”

“This blueprint encompasses key initiatives designed to unite our banking systems, enhance financial inclusivity, and catalyze economic growth across Africa and the Caribbean,” he said.  “This strategic plan is anchored in our shared desire for prosperity and our commitment to overcoming the challenges of distance and disparate regulatory environments.”

Prime Minister Davis added:  “Establishing a Joint Financial Task Force can be the cornerstone of our blueprint. This collaborative body will harness the expertise of banking and finance leaders, policymakers, and stakeholders from both regions. Tasked with identifying and dismantling barriers to banking integration, this task force symbolizes our collective will to forge a unified path forward.”

Prime Minister Davis suggested that they could also harmonize their regulatory frameworks to address “critical hurdles” in their journey.

“By aligning our anti-money laundering (AML) standards, counter-financing of terrorism (CFT) policies, and digital currency regulations, we create a seamless environment conducive to cross-regional banking operations,” he stated.  “With its robust regulatory landscape, exemplified by the DARE Act, The Bahamas is a pioneer in this endeavor, guiding our efforts towards regulatory excellence and stability.”

He added:  “Additionally, promoting financial inclusion and digital banking leverages the power of technology to erase boundaries and open doors. Inspired by The Bahamas’ pioneering launch of the Sand Dollar, the world’s first central bank digital currency, this facet of the blueprint envisions a future where digital banking platforms extend financial services to every corner of our regions, ensuring that none of our citizens is left behind.”

Prime Minister Davis said that facilitating trade and investment through streamlined banking procedures and dedicated financial instruments could bolster economic exchanges between Africa and the Caribbean. By focusing on sectors of mutual interest like tourism, agriculture, renewable energy, and technology, he added, they could unlock new avenues for growth and collaboration.

“Key to this blueprint is developing human capital, underscoring the belief that our greatest asset is our people,” Prime Minister Davis said.  “Joint educational initiatives and training programs will equip banking professionals with cutting-edge skills in fintech, cybersecurity, and regulatory compliance, ensuring our financial sector is robust, secure, and innovative.”

“Creating a bilateral payment system or exploring the development of a shared digital currency represents a bold step towards financial sovereignty and integration,” he added.  “Such an initiative will facilitate smoother trade and investment, reduce our reliance on external currencies, and strengthen our economic bonds.

“Together, Africa and the Caribbean can embark on this transformative journey, driven by unity, innovation, and mutual respect. Let this blueprint be our guide as we strive to unlock the full potential of our regions, forging a path towards prosperity that will be remembered for generations yet to come.”

Prime Minister Davis noted that the Afreximbank annual meeting represented “a pivotal moment for all of us, especially for Small Island Developing States (SIDS).”

He said: “We face a global financial system that often locks us out, creating inequities perpetuated by the Global North. These powerful nations frequently establish one set of rules for themselves and another for developing states, undermining our progress and prosperity.  It is imperative that we call out this behavior and demand an inclusive, fair model for the global financial system.”

Prime Minister Davis continued:  “Our journey together – Africa and the Caribbean – supported by the visions we share and the actions we are committed to, heralds the dawn of a new era.  An era where financial inclusivity fostered by innovations like the Sand Dollar and robust regulatory frameworks become the standard across our waters.  An era where our joint task forces and harmonized policies pave the way for a future where trade, investment, and mutual growth flow as freely as the waters that connect us.”

He said that, as they all looked to the horizon, they should see not a barrier but a vast, uncharted ocean of potential.

“Let us decide, here and now, that the waters which separate our lands will not impede our progress but will act as the very medium through which we unite our dreams and ambitions,” Prime Minister Davis said.

He added:  “Friends, I ask the question again – will we allow the separation of water to get in our way? Or will we embark together on this bold journey, proving that our spirits are stronger than the oceans, our resolve deeper than the deepest sea, and our potential boundless as the sky above?  The choice is ours. Let us choose to bridge the waters, to unite our dreams, and to craft a future where Africa and the Caribbean thrive together, in prosperity and partnership. This is our moment. Let us seize it with both hands, for the sake of our present and for the countless generations to come.”

“Lastly, I hope that this annual meeting in the Bahamas is successful – and I have no doubt that it will be – and that you have time to kick off your shoes, get your feet wet in our sands, get some sand in your toes, enjoy the warmth of our people, and discover why it is better in The Bahamas,” Prime Minister Davis said.

“The moment is now.  Let us seize the moment.”

PHOTO CAPTION

Prime Minister and Minister of Finance the Hon. Philip Davis addresses the African Export-Import Bank (Afreximbank) 31st Annual Meetings (AAM2024), on June 13, 2024, held at Baha Mar Convention Centre.

 

(BIS Photos/Eric Rose)

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New GPS Evidence Prompts Fresh Search for Missing American Woman in Abaco

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ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.

The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.

Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.

Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.

The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.

Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.

The latest development marks a significant shift in the investigation.

What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.

Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.

Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.

The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.

The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.

The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.

For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.

Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.

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Nassau Opens CDB Annual Meeting at Baha Mar This Week

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NASSAU, BAHAMAS — Regional policymakers, development financiers, economists and international partners are converging on Nassau this week as the Caribbean Development Bank (CDB) stages its 56th Annual Meeting at the Baha Mar Resort from June 1-5, 2026.

Held under the theme, “Forging the Caribbean’s Future: Strategic Solutions for Uncertain Times,” the gathering is expected to place The Bahamas at the center of discussions on some of the region’s most pressing challenges, from climate resilience and energy security to debt sustainability and economic growth.

At the launch of the annual meeting on March 19, CDB President Daniel Best underscored the importance of bringing together leaders from across the Caribbean and beyond at a time of global uncertainty.

“The Annual Meeting provides a strategic moment for the Caribbean, an opportunity for our leaders, governments, development institutions, private sector, youth, and international partners to come together to identify practical solutions that can help the Region navigate uncertainty while unlocking the opportunities that lie ahead,” Best said.

The conference host, newly named Bahamas Minister of Finance and Chairman of the CDB Board of Governors, Michael Halkitis, also emphasized the significance of the event during the March 19 launch ceremony.

“Today’s gathering marks more than the start of preparations for an important meeting. It represents the beginning of a renewed conversation about the future of the Caribbean, about our shared aspirations, our common challenges, and the partnerships that will shape the path forward for our region,” Halkitis said.

He added: “Hosting the 56th Annual Meeting of the Caribbean Development Bank here in Nassau provides an important opportunity to strengthen partnerships and advance meaningful dialogue on the future of the Caribbean.”

Over the five-day meeting, delegates will tackle major issues including energy transition and resilienceinnovative debt solutions for Caribbean economies, and the impact of global economic shocks on regional development.

The programme features a number of high-level events including the Youth FIRE Forum, the William G. Demas Memorial Lecture, the President’s Chat titled Financing the Future: MDB Strategies for Uncertain Times, and a series of policy seminars examining climate finance, infrastructure, economic resilience and development lending.

Among the featured participants are CDB President Daniel Best, Finance Minister Michael Halkitis, senior officials from multilateral development banks, regional finance ministers, central bank governors, economists, development specialists and private-sector leaders. The President’s Chat is expected to bring together leaders of major multilateral development banks to discuss financing strategies for developing states facing mounting economic pressures.

The annual meeting also includes sessions branded “EDGE X by CDB: Analytics Unlocked,” which will explore the economic costs of traffic congestion in the Caribbean and how global crises continue to affect regional economies.

The CDB Annual Meeting traditionally attracts representatives from the Bank’s 28 member countries, including government ministers, senior public officials, development agencies, international financial institutions, youth delegates, academics and private-sector stakeholders. Hundreds of delegates are expected to participate in discussions that will help shape development priorities and financing strategies across the Caribbean in the years ahead.

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

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Afreximbank Annual Meetings Return Next Month; Caribbean Links Remain in Focus

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May 29, 2026 – Two years after The Bahamas made history as the first Caribbean nation to host the African Export-Import Bank’s Annual Meetings, thousands of delegates are expected to gather in Egypt next month for AAM2026.

The 33rd Afreximbank Annual Meetings will be held from June 21-24 in El Alamein, Egypt, under the theme: “Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty.”

The event is regarded as one of Africa’s most important gatherings on trade, investment, finance and economic development, bringing together heads of state, policymakers, business leaders, development finance institutions and international partners.

For Caribbean nations, the meetings hold special significance.

In 2024, The Bahamas welcomed thousands of delegates to Nassau for the landmark event, marking the first time the annual meetings were staged outside the African continent and placing the Caribbean at the center of growing discussions on Africa-Caribbean trade and investment.

Since then, Afreximbank has continued to expand its engagement in the region, promoting stronger commercial ties between Africa and Caribbean countries and exploring opportunities in trade finance, infrastructure development, logistics, investment and private sector growth.

Organizers say this year’s discussions will focus on strengthening intra-African trade, advancing industrialization, building regional value chains and increasing economic resilience amid global uncertainty.

The meetings are also expected to provide a platform for new partnerships, investment opportunities and development initiatives that could have implications beyond Africa, including for Caribbean nations seeking to deepen economic cooperation with the continent.

As leaders prepare to convene in Egypt, the Caribbean’s growing relationship with Afreximbank remains a key part of the institution’s broader vision of expanding trade and investment connections across the Global South.

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

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