Bahamas News
25 Women-Led Businesses Receive Gender-Equitable Grants during GEFA Award Ceremony held by UNFAO and The Bahamas Development Bank
Nassau, The Bahamas, 16 October, 2024- The Sapodilla Estate was recently the elegant setting for an inspiring evening where 25 women-led businesses were awarded grants ranging from $2,000 to $7,500, as part of the United Nations SDG Building Back Equal
The grants, funded by the UN Joint SDG Fund under the Build Back Equal Program, were awarded to women-led businesses selected from a competitive pool of over 78 applicants who took part and completed in the accelerator program facilitated by the CeLearn Division of The University of The Bahamas. These entrepreneurs represented sectors from agriculture, creative industries and tourism, with each receiving support to scale their operations and contribute to the sustainable development goals of The Bahamas.
During the ceremony, Sumayyah Cargill, Manager of Strategic Development and Initiatives at the Bahamas Development Bank, addressed the recipients, encouraging them to leverage the grant as a stepping stone to accessing greater financing.
“We are incredibly proud of each of you for making it this far. The future of Bahamian business is bright, and we believe these grants will help you take the next steps towards growth and expansion. We hope to see many of you accessing larger funds to continue scaling your businesses,” said Cargill.
Precious Fortune Thompson, National Consultant and Project Manager UNFAO, emphasized the essential role of women in the community, stating, “Women are the backbone of Bahamian society. I was thoroughly impressed by the talent and innovation on display, particularly from our pitch competition winners. It is clear that with the right support, these businesses can thrive.This pilot program was first launched in The Bahamas and Bermuda and is a foundation for further initiatives in The Caribbean.”
Natasha Taylor of CeLearn at the University of The Bahamas also took the opportunity to inspire the recipients, urging them to continue on their educational journeys.
“Learning is a lifelong process. I encourage you to keep pushing yourselves, not just as entrepreneurs, but also as individuals committed to
The award ceremony saw participation from key dignitaries, including Gilbert Cassar, Chairman of the Bahamas Development Bank, and Gavin Christie, Deputy Chairman. Their presence underscored the commitment of national institutions to fostering an inclusive, equitable, and resilient economy where women-led businesses can flourish.
This award ceremony marks a significant milestone in the ongoing work of the Build Back Equal Program, which seeks to address inequalities and create opportunities for women entrepreneurs across The Bahamas. With the continued support of partners like the UNFAO and the University of The Bahamas, the Bahamas Development Bank remains committed to empowering women to drive the nation’s development forward.