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Bahamas poised for digital innovation, says PM

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#Nassau, November 2, 2018 – Bahamas – The Bahamas is poised for a new time of innovation and transformation, according to Dr. the Most Hon. Hubert A. Minnis, Prime Minister, as the nation adapts to today’s digital world.

He was addressing the Royal Bank of Canada Re-imagining Banking Reception held at the Grand Hyatt, Baha Mar Convention Centre on Wednesday, October 31, 2018.

Royal Bank of Canada is the oldest bank to be established in The Bahamas; with its first branch opening in 1908.  And throughout its 110 years of existence, it has served as the principal banker of The Government of The Bahamas, for many years

“Royal Bank has been a significant contributor to the development and growth of the modern Bahamas,” the Prime Minister said.  He noted that this includes the development and financing of major projects namely: Arawak Cay Port Development, Princess Margaret Hospital Critical Care Block, the Harry C. Moore Library, Nassau Airport Development Company and the Franklyn Wilson Graduate School of Business at the University of The Bahamas.

Earlier this year, RBC announced that its flagship youth skills and empowerment programme – Future Launch – would be coming to The Bahamas.

“RBCs are launching this program around the world, and are pleased that the program will be here in The Bahamas,” the Prime Minister said.

The community engagement initiatives by RBC dovetail with the vision and various initiatives of the Government of The Bahamas, said the Prime Minister.  Toward this end, the government recently launched the Small Business Development Center, for which an amount of over $25 million has been allocated to support micro- small- and medium-sized businesses.

“One of our guiding principles is that sustainable economic growth should be driven by Bahamian investment and creativity, in tandem with strategic foreign direct investment,” the Prime Minister said. “We believe that entrepreneurs are the primary drivers behind innovation and growth,” he added.

The Prime Minister said some of the goals set by his administration are to: stimulate Bahamian ownership, create jobs, and to reduce poverty.

“In order to achieve those goals, we realized that we had to address the blockages that prevent Bahamian ownership, that stifle job creation, and that perpetuate poverty,” he said.  Therefore for his government, access and opportunity are important.

“Access to the kinds of opportunities that those who have traditionally succeeded in our economy often take for granted, including: good advice, help with planning and execution, contacts and networking, and of course, critically, access to capital,” he said.

He told RBC that private enterprises and banks like it should also play a vital role in helping small businesses and entrepreneurs to gain access to capital for business development.  The Prime Minister then pointed out that the Bahamian economy is growing with tourism doing “exceedingly well.” Also a number of major investments are on the horizon.

“Given its history in The Bahamas, I know that the Royal Bank of Canada will continue to be a significant player in the economic life of The Bahamas.

“I look forward to an enhanced partnership between the Government and RBC in the development of more Bahamian entrepreneurs and small businesses.

“I also look forward to enhanced opportunities for corporate citizenship by RBC, especially in the area of youth development, including for at-risk youth,” the Prime Minister said.

 

By Lindsay Thompson

Photo Caption: Prime Minister, Dr. the Most Hon. Hubert Minnis addresses the RBC Re-imagining Banking reception at the Grand Hyatt, Baha Mar, October 31, 2018; also mingles with RBC executives, along with Minister of Financial Services, Trade & Industry and Immigration, the Hon. Brent Symonette.

 

(BIS Photos/Yontalay Bowe)

 

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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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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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