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Invest TCI Strengthens Strategic Alliances at NABHOOD 28th Annual Summit

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PRESS RELEASE

 

Providenciales, Turks and Caicos Islands – August 30th, 2024— Invest Turks and Caicos (Invest TCI) proudly participated in the 28th Annual International African American Hotel Ownership and Investment Summit, held from July 24th to 26th at the Miami Marriott Biscayne Bay Hotel, Florida. This prestigious event, hosted by the National Association of Black Hotel Owners, Operators, and Developers (NABHOOD), is a leading platform advocating for minority ownership and development within the hotel and hospitality industry.

The summit brought together a diverse group of industry professionals, including hotel owners, investors, developers, and operators, creating a fertile ground for knowledge exchange and networking. As a proud sponsor of the summit, Invest TCI not only elevated its brand visibility but also gained critical market insights and forged valuable connections with industry leaders. Representing Invest TCI were Senior Vice President of Investment Services, Mr. Keno Forbes, and Investment Executive, Mr. Salik Garland, who both played pivotal roles in the event’s proceedings.

Mr. Keno Forbes, Senior Vice President of Investment Services, contributed his expertise in two key plenary sessions. The first, titled “Capital Forum,” delved into attracting investors, securing capital funding, and exploring joint ventures and strategic methods for deploying funds in various projects. His second session, “Growing the Caribbean Investment Market: Working with Governments,” focused on strategies to enhance the Caribbean’s investment appeal by fostering stronger collaborations with governments.

Reflecting on the summit, Mr. Forbes stated, “The sessions were both enlightening and insightful. The Turks and Caicos Islands, recognized as one of the fastest-growing economies in the region, offered a unique combination of fiscal and political stability. These attributes are highly attractive to serious investors, and our presence at the summit allowed us to effectively promote the country’s lucrative investment opportunities in the hotel sector.”

Invest TCI’s active involvement extended beyond these sessions, with further participation in strategic discussions throughout the summit. Mr. Salik Garland, Investment Executive, participated in the “Caribbean Investment and Development Forum – Rebounding” plenary session. This discussion centered on emerging opportunities for investment and development within the Caribbean, with a focus on factors critical to success.

During the session, Mr. Garland articulated the top reasons to invest in the Turks and Caicos Islands, emphasizing the significance of sustainable and equitable investments. “Attending the 2024 NABHOOD Summit in Miami was an invaluable experience,” Mr. Garland remarked. “It offered numerous opportunities to engage with industry stakeholders, network with leading brands, and connect with our counterparts from the Bahamas and other Caribbean islands. This summit significantly enhanced the visibility of the Agency and the islands, fostering strategic partnerships that will drive future investments in our country.”

As Invest TCI continues its mission to create an enabling environment for businesses and investors to capitalize on sectoral opportunities, participation in such high-caliber summits is crucial. The connections and collaborations forged at the NABHOOD Summit are expected to pave the way for meaningful partnerships, further solidifying the Turks and Caicos Islands as a prime destination for investment in the hotel and hospitality sector.

Invest TCI remains committed to its role as a catalyst for growth, ensuring that the Turks and Caicos Islands remain at the forefront of global investment opportunities.

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ELECTRICITY BILL SHOCKER: PELICAN ENERGY WARNED GOV’T

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TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response

PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.

Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.

That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.

Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.

He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.

Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.

Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.

Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.

Saunders did not disclose the programme’s total cost.

His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?

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Bahamas News

More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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Health

47,459 MEASLES CASES, 44 DEATHS ACROSS AMERICAS  

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WASHINGTON, D.C. — The Americas has recorded 47,459 confirmed measles cases and 44 deaths in 2026, the region’s highest case count in 22 years, prompting the Pan American Health Organization (PAHO) to urge stronger vaccination, surveillance and rapid outbreak response.

As of July 18, cases were already more than triple the 15,011 recorded during all of 2025. Guatemala, Mexico, the United States and Peru account for 95% of confirmed cases. Guatemala leads with 30,371 cases and 26 deaths, followed by Mexico with 12,255 cases and 17 deaths.

PAHO classifies the regional public health risk as very high, citing active outbreaks, immunity gaps, international travel and populations with inadequate vaccination coverage.

The organization says prevention starts with vaccination. Countries are being urged to achieve and maintain at least 95% coverage with two doses of measles-containing vaccine, particularly protecting children and under-vaccinated communities.

Measles spreads through the air when an infected person breathes, coughs or sneezes. Symptoms can include fever, cough, runny nose, red eyes and a rash.

PAHO is urging health authorities to detect suspected cases early and respond rapidly to stop transmission. Unvaccinated and under-vaccinated people, young children and communities with limited healthcare access face increased risk of severe illness and death.

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