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Blockchain technology has the potential to revolutionize the way business is done in The Bahamas

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#Bahamas, February 2, 2018 – Nassau – Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest said that Blockchain technology has the potential to revolutionise the way business is done in The Bahamas.

During the “Understanding Blockchain Technology Applications: What You Need to Know” workshop hosted by the Inter-American Development Bank (IDB) at Baha Mar Convention Centre, Wednesday, January 31, 2018, the DPM added that Blockchain technology has the ability to propel the country in a really dramatic way from where it is today to being a true leader in terms of technology and the way business is done as well as the ease of doing business.

The workshop was facilitated by Chris Jagers and Natalie Smolenski from the Learning Machine Lab at Massachusetts Institute of Technology (MIT).  DPM Turnquest explained that with the Assistance of the IDB, he and several colleague Ministers toured the MIT Lab last year and saw the potential that the technology has for The Bahamas.

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“When a lot of people think of Blockchains, they think about cryptocurrency.  That is just one aspect of it.  That is something we are doing some research into to see how we will be able to capitalise on it.

“More importantly than that is the way we can use this technology to improve the quality and efficiency of our daily lives.”

He gave the illustration of the Government potentially using the technology to create electronic records that are “indisputable”, which would then lead to a system where records could be produced that individuals could carry around in the form of an electronic passport that they can take to any bank where they want to open an account.

“If we had this electronic ID card if you will, you could walk into the bank, present your ID with your access code, they could look at your records, verify who you are via your information and away you go in minutes.  That is what we are talking about it.”

As it stands now, he said it takes weeks or months for Bahamians and six to eight months for foreign nationals to open a bank account, which is “a very inefficient and frustrating process.”

The DPM also noted that the Government is looking at how Blockchain technology can be useful in producing a proper land registry, employing it with companies registering with the government.

Blockchain workshop“There are a whole host of opportunities that exist as a result of this technology and we want to explore it all and take our country to the cutting edge.”

IDB Country Representative, The Bahamas Florencia Attademo-Hirt explained that emerging technologies like Blockchain have been making waves all over the world in recent years.

She said, “Very simply put, Blockchain is a digital technology able to store and transport valuable information and assets securely.

“Blockchains were first used to record transactions of digital money (cyrptocurrencies), but since those early days, there have been other uses and applications of this technology.”

Mrs. Attademo-Hirt noted that Blockchain technology has the ability to manage a large amount of data accurately allowing for it to not be tampered or altered, and could be either very transparent or confidential.

“In The Bahamas, we think we can apply blockchain to a number of areas beyond cyrptocurrencies or even the Financial Sector.”

She said one of the goals of the workshop was to convince stakeholders as well as get their feedback on the usefulness of Blockchain Technology in The Bahamas in the area of sovereign citizen security and justice, in particular the information that is being handled by the justice system.  Another goal was to see if the technology could be used for education and training in the sense of keeping records and diplomas available and making them easily accessible to their owner of the records, employers and learning institutions.

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Mrs. Attademo-Hirt said they really also want to establish how useful it would be for land title registration.

“We would really like you to give us your ideas even if you feel like Blockchain might not work for The Bahamas, if you feel that it is not the solution, if you are afraid of using the technology, if you fear people need to be trained in a way that they will not be able to.

“We will like to hear all of your thoughts and your feedback to make sure that whatever investment that we do moving forward using this or other technologies, it is relevant to your country, helps improves lives in your country and helps Bahamians have a better prospect for their future,” Mrs. Attademo-Hirt said.

 

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Captions

Deputy Prime Minister and Minister of Finance the Hon. Peter K. Turnquest opens “Understanding Blockchain Technology Applications: What You Need to Know” workshop hosted by the Inter-American Development Bank (IDB) at Baha Mar Convention Centre, Wednesday, January 31, 2018.  (BIS Photo/Derek Smith)

 

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Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest; Minister of Transport and Local Government the Hon. Frankie Campbell and Inter-American Development Bank Country Representative, The Bahamas, Florencia Attademo-Hirt attend the Blockchain workshop.  (BIS Photo/Derek Smith)

 

 

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New Manifestos Released as Bahamas Heads to Historic May 12 Vote

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The Bahamas, April 14, 2026 – With the 2026 Bahamian general election set for May 12, the country’s major political parties have now formally placed their plans before the electorate, offering competing visions for governance, growth and relief.

The governing Progressive Liberal Party (PLP), led by Philip Davis, launched its “Blueprint for Progress 2026” on April 8, 2026, outlining a 46-page plan focused on long-term development and systems reform. The document places heavy emphasis on energy transition, digital government, workforce training and food security, positioning the party as one seeking continuity following its first term. The full plan is publicly available online through official PLP platforms for voters to review.

Just days later, on Sunday, April 12, the opposition Free National Movement (FNM), under Michael Pintard, unveiled its 2026 Manifesto at a major event in Nassau. Spanning 54 pages, the document centers on cost-of-living relief, tax reform, healthcare expansion and housing, offering what the party describes as a more immediate response to economic pressures facing Bahamian families. The FNM has also made its manifesto accessible online.

Beyond the two major parties, the Coalition of Independents (COI) had already entered the policy space earlier, formally unveiling its long-range Vision 2030 framework on Saturday, March 1, 2025, at the Fusion Superplex in Nassau during a packed national launch led by party leader Lincoln Bain. That framework has since been complemented by a 100-day action plan released in late March/early April 2026, adding a short-term policy layer to its long-range proposals.

These policy rollouts come as the country prepares for a pivotal vote, with the Parliamentary Registration Department confirming a voters’ register of approximately 203,000 eligible voters, one of the largest in the nation’s history. Key dates are now set, with Nomination Day on April 16, followed by advance polls on April 30, ahead of General Election Day on May 12.

With platforms now in the public domain and the timeline locked in, the focus shifts squarely to the electorate—who must now weigh the promises, examine the plans and decide the country’s direction at the polls.

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

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From Concept to Approval: What a 2019 Water Security Plan Now Means for Bahamians

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The Bahamas, April 14, 2026 – At its core, the $65 million water security project is designed to strengthen the reliability, safety and resilience of the water supply across The Bahamas.

If implemented as planned, the investment is expected to improve water quality, reduce contamination risks and support public health, while increasing supply reliability and limiting service disruptions during droughts or system failures. The project also aims to expand and upgrade infrastructure, including wellfields, pumping stations and storage capacity, and to protect freshwater resources from saltwater intrusion—an increasing threat for low-lying islands. In practical terms, that could mean cleaner, more consistent and more dependable access to water for residents across the country.

The project was first conceptualised in 2019 under the previous administration, when a proposal was submitted to the Green Climate Fund to strengthen the resilience of the country’s water systems. That early work came just months before Hurricane Dorian exposed the vulnerability of national infrastructure, including critical water and sanitation systems, particularly in the northern Bahamas.

The initial phase focused on developing the concept, identifying priority areas and engaging regional and international partners, including the Caribbean Development Bank, to support the design and preparation of a full funding proposal.

Following the change in government in 2021, the project advanced into its most technical and demanding stages. The current administration oversaw the completion of key requirements, including feasibility studies, environmental and social assessments, and detailed financing negotiations with international partners—steps necessary to move the proposal from concept to approval.

That multi-year process has now culminated in approval of a $65 million financing package, combining grant funding with concessional loans to support long-term upgrades to the country’s water infrastructure.

While the project brings significant international support, it is not entirely free money. The package is structured as a blended financing arrangement, combining grant funding with concessional loans—meaning a portion of the funding will ultimately need to be repaid. Based on information released by the Caribbean Development Bank, approximately $25 million of the total package is tied to loan financing, with the remaining portion provided as grant support.

Concessional loans typically carry more favourable terms than commercial borrowing, including lower interest rates and longer repayment periods. However, they still represent debt obligations that will be borne over time.

Notably, detailed terms of the loan components—including interest rates, repayment schedules and any associated conditions—were not disclosed in the initial announcement issued by the Office of the Prime Minister (Bahamas). Those details are expected to be outlined in formal financing agreements, but have not yet been made public.

For Bahamians, the project represents both investment and obligation. While the grant funding provides a significant boost to infrastructure development, the loan component adds to the country’s long-term financial commitments—making transparency around terms and implementation timelines especially important.

While the approval marks a significant milestone, the timeline for delivery remains a critical factor. Based on information available from project partners, implementation is not expected to begin immediately. The initiative is anticipated to move into its execution phase later in 2026, following finalisation of financing agreements and completion of preparatory requirements.

From there, the project is projected to unfold over several years, with estimates suggesting a multi-year implementation period of up to seven years to fully deliver the planned upgrades to water infrastructure across The Bahamas.

This means that while the funding has now been approved, the benefits will be realised gradually rather than all at once. A definitive completion date has not been publicly outlined, and detailed timelines tied to specific islands or phases of work have yet to be disclosed.

For Bahamians, the question now shifts from approval to execution—when funds are drawn down, when construction begins, and how consistently the project moves from plan to delivery.

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

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Fuel Pain at The Pump: Global Tensions Drive Prices Up as Bahamians Feel the Squeeze

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NASSAU, Bahamas — What should be a simple five-minute drive is fast becoming an expensive, hour-long ordeal, as rising fuel prices collide with worsening traffic congestion across New Providence.

As of early April 2026, gasoline prices across The Bahamas have climbed sharply, with motorists now paying an estimated $5.50 to over $6.50 per gallon, depending on the station and grade. The increases, seen at major retailers including Esso, Rubis and Shell, reflect a volatile global oil market driven by escalating geopolitical tensions.

The latest spike — in some cases jumping more than 50 cents per gallon within days — is being driven by uncertainty surrounding escalating tensions involving Iran. U.S. President Donald Trump has issued a direct ultimatum, warning that the United States could launch aggressive strikes on Iranian infrastructure, including power plants and key facilities, if demands are not met. While he has also expressed hope for a swift resolution, the threat of rapid escalation is already rattling global oil markets — and The Bahamas, heavily dependent on imported fuel, is feeling the impact almost immediately.

At the pumps, the frustration is real.

Drivers are now paying significantly more just to sit in traffic. Commutes that once took minutes are stretching into hour-long crawls, burning fuel with little movement and compounding the financial strain. For many residents, the issue isn’t just the price per gallon — it’s how quickly that gallon disappears.

Industry players are also bracing for impact. Higher diesel prices are expected to ripple across key sectors, including trucking, construction, and shipping — all of which ultimately feed into the cost of goods and services. In short, this is not just a fuel story; it’s an inflation story in the making.

Despite the surge, the Bahamas Petroleum Retailers Association has moved to calm fears, confirming that there is no fuel shortage. Supply remains stable, but consumers are being urged to adjust behavior — from maintaining proper tyre pressure to considering carpooling — small measures that could stretch every dollar a bit further.

Retailers, however, are not offering much comfort on price relief. While fluctuations are expected, insiders say the days of sudden price drops are unlikely in the immediate term. The “shock” increases may level off, but a meaningful decline hinges on global stability — something that currently feels out of reach.

For Bahamians, the reality is tightening: higher fuel costs, longer commutes, and a growing sense that relief isn’t coming anytime soon.

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

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