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BAHAMAS: Government’s housing programme/capital works projects to help boost new construction

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#Bahamas, April 30, 2018 – Nassau – The Minnis Administration’s new homeownership and housing programme scheduled to get underway this summer, along with capital works projects throughout the country and hotel and tourism construction on Grand Bahama and other islands, are expected to help boost new construction in The Bahamas.

Through the homeownership programme, the Government will provide lots at market cost to potential first-time homeowners. The lots will have all utilities in place.

Homeowners will be responsible for constructing their own homes while having the added option of using their own architects or utilizing pre-existing plans offered by the Government.  Potential homeowners will have two years within which to build their homes at duty-free concession rates.

Scheduled to be launched in New Providence with the availability of 20 lots in the initial stage, the programme will be extended to the Family Islands, thus encouraging second home ownership, and entrepreneurial development of Bed & Breakfast properties, Prime Minister, Dr. the Hon. Hubert A. Minnis said at the opening of the CEO Network conference on Wednesday at Melia Nassau Beach resort.

Seventy-nine lots will be made available in San Salvador as part of the programme with an additional 301 lots also set to be made available in New Providence.

“Construction is a large industry,” Prime Minister Minnis said.  “This sector in The Bahamas will be boosted by a number of projects including our homeownership and housing programme; capital works projects throughout the country, including the Family Islands, and hotel and tourism construction on Grand Bahama and on other islands.

“Our housing programme should create considerable opportunities for the construction industry and other related businesses.”

The capital works projects scheduled to be undertaken by the government are part of the Minnis Administration’s strategies to address the “infrastructural deficit” that is facing certain areas of the country.

“We have begun in the southwest area of New Providence with the finalization of a commitment to construct a new primary school.  The Government is readying a major construction and upgrade programme for the public school system, which will better enable learning.”

Prime Minister Minnis said The Bahamas is heading in a promising direction.  “The headlines of the day often obscure broader trends and promising developments, which often go unnoticed.  Our economic prospects are improving, but we must do more to boost jobs and opportunity.  Tourism is on the rebound, but there is still much work to be done to ensure that our tourism engine is in full motion. Our public finances are improving, though we are not out of the woods.

“Still amidst our challenges, The Bahamas is much better off than it was just a year ago when we were headed into an abyss from which we would not have easily recovered,” Prime Minister Minnis added.

 

By Matt Maura (BIS)

 

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Bahamas News

Bahamas economic growth

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Rashaed Esson

Staff Writer

The Bahamas’ economy is in good standing according to reports from the Bahamas National Statistical Institute which released the Quarterly Gross Domestic Product Series. They indicate that quarterly GDP trends for 2023 saw increases compared to 2022, a sign of recovery from the Covid 19 pandemic.

The most significant increase was 9.9 percent in the first quarter of 2023, and the industries responsible for the growth include Accommodations and food, construction and Arts.

 

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Bahamas News

C&W COMMUNICATIONS PROUD TO BE ASSOCIATED AS ATHLETES “CHASE THE SUN”

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World Relays to be title sponsored by BTC, one of C&W’s local brands.

 

In just a few days, athletes from over fifty countries will converge in The Bahamas for the BTC World Athletic Relays Bahamas 24. C&W Communications, the parent company of BTC, is proud to be associated with this major event, which will see athletes from The Bahamas, Barbados, Jamaica, and Trinidad & Tobago competing for a place in the upcoming Olympic games in Paris.

Inge Smidts, CEO of C&W Communications, who also serves as Chair of the BTC Board of Directors will be in the stands to witness the highly anticipated relays. Smidts says, this was an event that she simply could not miss. “We are proud to support our Caribbean athletes, and we wish them well as they vie for a spot in the Olympic games.

The relays will be held one of in our markets, The Bahamas, and we are honoured to be the title sponsor of the event. The world relays represent the spirit of relentless courage and the willingness to succeed of the Caribbean people and of our business. Through partnerships like this we demonstrate our unwavering commitment to connect communities and change lives.”

In addition to its sponsorship of the event, Smidts says it was important that athletes, officials, and fans stayed connected during the games. “As a business we are focused on ensuring that our customers have access to faster, stronger, and more reliable connectivity, and we worked with our partners to make certain that athletes and guests remain connected.

We have offered e-sim cards, and we also worked with the major hotels to set up care centers to ensure that we address any connectivity concerns on the spot. Additionally, I am pleased to announce that BTC will provide free Wi-Fi at the stadium giving patrons and athletes the opportunity to share every riveting moment.”

BTC has hosted a special event just for the Caribbean athletes, at the newly renovated Queen’s Staircase in Nassau, a recently renovated historic landmark visited by thousands of tourists each day. This event gave athletes the opportunity to unwind, mingle, and to learn more about each other right before the competition.

This is the fourth time that BTC and its parent company C&W Communications have title sponsored the world relays. The BTC World Athletic Relays will be held at the Thomas A. Robinson Track & Field Stadium from May 4-5, under the theme, “Chase the Sun, from Paradise to Paris.”

 

 

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RBC appoints new Country Manager and Area Vice President for Turks & Caicos 

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RBC Royal Bank (Bahamas) Limited (“RBC”) is pleased to announce the recent appointment of Kerryl-Lyn King-Henry as Country Manager and Area Vice President (“AVP”), Personal and Commercial Banking, Turks & Caicos Islands (TCI).

In her new role as Country Manager and AVP, King-Henry will take on full responsibility for the bank’s operations, strategy, and development in the TCI market, with a strong focus on solidifying partnerships with the Government, regulatory bodies, and the local community.

King-Henry brings to the role a dynamism influenced by nearly 25 years of industry experience. Prior to her new appointment, she served as AVP of Business Banking in Trinidad and Tobago. She has held progressively senior roles within both personal and commercial banking, as well as various functional units.

King-Henry holds a Master of Business Administration (MBA) degree, with a specialization in Leadership, FinTech and Big Data Analysis, in addition to a Bachelor’s Degree in Business Administration. Further enriching her professional profile, Kerryl-Lyn is a certified John C. Maxwell Coach, Trainer, Teacher, and Speaker. Her passion for leadership and development is matched by her commitment to community service, as she actively volunteers her time and leverages her professional expertise to mentor and support others. “

Kerryl-Lyn’s extensive experience and proven leadership capabilities make her the perfect choice to lead our operations in the Turks & Caicos Islands,” said Ericka Rolle, RBC’s Managing Director and Vice President, Personal Banking, The Bahamas and TCI.

“Her commitment to excellence, combined with a genuine passion for community engagement, aligns perfectly with our Bank’s purpose of helping clients thrive and communities prosper. We are excited to see the positive impact she will undoubtedly bring to her new role,” she added.

 

 

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