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BAHAMAS: Homeowners hear of provisions under the Economic Empowerment Zones Bill

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#Nassau, August 21, 2018 – Bahamas – Facilitators of The Over-the-Hill Community Development Partnership Initiative conducted yet another workshop on provisions under the Economic Empowerment Zones Bill, at Salem Union Baptist Church on Taylor Street.  Held on Tuesday, August 14, 2018 the workshop was geared towards homeowners and renters.  This came on the heels of the first workshop held Thursday, August 9, for businesspersons.

Samita Ferguson, Executive Manager, Over-the-Hill Unit in the Office of The Prime Minister, noted they were happy to engage once again representatives from various agencies who were able to speak on matters pertaining to the process of home renovation that could benefit homeowners/renters.  Components of the Economic Empowerment Zones Bill are designed to encourage residential and commercial property development and investment in these zones through various tax incentives.

Representatives of agencies who provided pertinent information were from Inland Revenue, Ministry of Finance, Ministry of Works, and the National Insurance Board.  Residents of Bain and Grants Town, Centreville and vicinity were advised on the supporting documents required for application submission, as well as the eligibility requirements for concessions.

In addition, Chrystal Glinton, Deputy Permanent Secretary at National Emergency Management Agency (NEMA) gave a presentation on comprehensive disaster management and the overall functions of NEMA.  She informed the attendees of the necessary steps and plans in securing their properties – homes and businesses.  Ms. Glinton also participated in presentation of hurricane kits to residents donated by Fidelity Bank.

At the end of the session, individuals were able to connect one-on-one with representatives from the various agencies for personal advice.

The Over-the-Hill Community Development Partnership Initiative calls for the creation of economic empowerment zones aimed at granting tax concessions to hom.e and business owners in poverty-stricken areas.

Prime Minister, Dr. the Hon. Hubert Minnis said under this initiative, his government wants to decrease the income gap and improve quality of life.  Among the first transformations to take place will be re-development of Over-the-Hill landmarks — McPherson Park, Father Marshall Cooper Park, and the historic Southern Recreation Grounds.

Ketra Todd of the Economic Development & Planning Unit of the Office of the Prime Minister presented provisions under the Bill, which was passed in the House of Assembly and the Senate on July 26 and August 9, 2018, respectively.

The Over-the-Hill Community Development Partnership Initiative is built around six key pillars:

  • Social Empowerment and the Preservation of Bahamian Heritage;
  • Rejuvenation;
  • Smart Technology;
  • Green Technology;
  • Youth and Elderly Empowerment; and
  • Economic Empowerment.

The Initiative is led by the Office of the Prime Minister, through the Over-the-Hill Unit.

More workshops outlining the initiative and provisions under the Economic Empowerment Zones Bill will be held to further enlighten residents in the respective zoned-areas.

 

By Lindsay Thompson

Release: BIS

 

Photo Captions:

Header: Ketra Todd, of the Economic Development & Planning Unit in the Office of the Prime Minister presents provisions under the Economic Empowerment Zones Bill 2018, during a workshop at Salem Union Baptist Church, Taylor Street, on Tuesday, August 14, 2018.

Insert: Residents attending a workshop on tax concessions under the Economic Empowerment Zones Bill at Salem Union Baptist Church, Taylor Street, on Tuesday, August 14, 2018.  The measure is a component of The Over-the-Hill Community Development Partnership Initiative, led by the Over-the-Hill Unit, in the Office of the Prime Minister.

(BIS Photo/Kristaan Ingraham)

 

 

 

 

 

 

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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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Bahamas News

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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