分类: business

  • Lumber Shortage Causing Major Home Construction Delays

    Lumber Shortage Causing Major Home Construction Delays

    Across Belize, a deepening shortage of high-quality hardwood lumber is evolving from a niche supply chain issue into a major disruption for the country’s residential construction industry, leaving builders scrambling for materials and pushing already-contracted home projects into unplanned delays. What was once a challenge limited to small-scale sawmills has now spread across the national market, with demand for structural hardwood far outstripping available supply at a time when consumer demand for new homes remains steady. Industry insiders say the core of the crisis stems from the near-disappearance of small independent lumber suppliers, the small-scale operations that most local home builders rely on to source the durable hardwood needed to construct hurricane-resistant homes, a critical building standard in the hurricane-prone Caribbean nation.

    During an industry gathering in Spanish Lookout focused on the growing crisis, lumber and construction leaders outlined the cascading impacts of the ongoing shortage. Scott Varro, manager of Linda Vista Lumber Yard, emphasized that the supply crunch is not confined to any one region of the country. “There is a struggle to fill lumber orders and lumber needs not just for people around in our area, but it is countrywide,” Varro explained. “We have guys visiting from north to south looking for lumber for building resorts, furniture, you name it. Any kind of lumber need all over, there is definitely a noticeable shortage.”

    For home builders like Ronny Plett, manager of Plett’s Home Builders, the shortage has forced uncomfortable delays for customers who have already committed to new home builds. “We actually have multiple homes right now that are on order. There’s a house I was supposed to start today for a customer, and I just can’t source the lumber,” Plett said. He clarified that large-scale logging operations continue to operate in Belize, noting that well-resourced major firms are still able to secure the necessary harvesting permits to access timber reserves. Plett specifically highlighted Bull Ridge Logging’s long-term sustainable concession in the Chiquibul Reserve as a model of responsible logging that aligns with conservation goals. The problem, he stressed, is that local small-scale builders almost never source materials from these large operations: “The big impact on our industry is that we don’t usually rely on the biggest providers. We rely on the smaller individual providers, and they’re the ones who are being shut down now. I’m now having to see where in Belize I’m gonna source this hardwood because hardwood is a much more hurricane secure form of building.”

    The shortage has been exacerbated by widespread reports of permit approval bottlenecks for private land logging, even in cases where landowners plan to clear forested area for agricultural use anyway. Multiple landowners and suppliers report that regulatory approvals are being delayed or denied outright, despite government claims that logging permits are still being issued. Orlando Habet, Belize’s Minister of Sustainable Development, pushed back on claims of a de facto logging ban, stating: “We have not stopped the issuance of permits and licenses for the cutting of logs in private lands. So most of them come in as temporary permits because they claim that, one, if they have, let’s say for example fifty acres and they want to log twenty-five out of that, they’re given a permit to log twenty-five acres out of the fifty. These logs are available, so these companies, the saw mills, have to contact these people who are getting the permits.”

    But Varro and other industry representatives say on-the-ground experiences tell a far different story, with permit approvals moving extraordinarily slowly even for low-impact harvesting requests. He shared one recent example from just minutes before the interview: “I was just speaking to a gentleman literally fifteen minutes ago who is trying to get a permit approved for private land in San Antonio Village. The owner has forty acres. He’s going to clear it for farming anyway, has nothing to do with Mennonites, right? So it is a private land that needs to be logged, and he’s trying to get permits because he’s going to clear it regardless. Forestry will not sign it. They’re dragging their feet for whatever reason. So this is one of dozens of cases that have happened this season.”

    In case after case, the result is valuable hardwood going completely to waste, Varro explained. “Farmers, different landowners trying to extract a few trees and they’re not getting approved. They’re not getting anything done, and so they end up just burning it, right? I’ve spoken to a guy from PG last week, same thing. A few trees, just trying to get it off a small plot. He couldn’t get done. He said by a short while, fire came through and destroyed all the logs. I hear this over and over.”

    Habet defended the government’s regulatory approach, framing current restrictions as a long-term investment in the future of Belize’s forestry sector. The government’s current strategy pairs a crackdown on illegal and overharvesting with the Greening Belize Initiative, a large-scale reforestation program that aims to plant one million new trees to secure the logging industry for future generations. For builders and customers waiting on delayed home projects, however, these long-term benefits do little to ease the immediate supply crisis currently roiling Belize’s construction market.

  • A Show of Unity and Trust at Holy Redeemer Credit Union’s 82nd AGM

    A Show of Unity and Trust at Holy Redeemer Credit Union’s 82nd AGM

    On a recent Saturday in Belize, hundreds of member-owners packed the Belize Civic Center for the 82nd Annual General Meeting (AGM) of Holy Redeemer Credit Union (HRCU), one of the nation’s most enduring and trusted financial cooperatives. The standing-room-only gathering was far more than a routine annual compliance check: it served as a public display of widespread confidence in the institution’s decades-long mission of community-focused finance, bringing together generations of members to review performance, vote on leadership, and chart the cooperative’s next chapter of growth.

    HRCU President Wendy Castillo opened the official remarks by leaning into the cooperative’s deep-rooted reputation across Belize. “When Belizeans hear the name HRCU, they don’t just think of a bank—they think of a trusted partner that has stood by families and businesses across generations,” Castillo said. “Built on the cooperative principle of people helping people, our work has always centered on empowering members to turn their personal and professional dreams into tangible reality.”

    Founded more than 80 years ago, HRCU has grown from a small community savings group to one of Belize’s largest credit unions, anchored by its core mission of delivering affordable banking services and accessible, competitive lending to all segments of the population. For the organization, the annual AGM is far more than a legal requirement—it is the cornerstone of its member-governed model. HRCU Human Resources Manager Mark Menzies summed up the event’s significance, calling it the institution’s “big dance.” “By law, we are required to host this gathering every year, but it means so much more than checking a box,” Menzies explained. “This is when we bring all 68,000 of our member-owners into the process: we share our annual results, distribute dividends and member rebates, and give everyone a front-row seat to the decisions that shape our institution.”

    At this year’s meeting, leadership reported robust across-the-board growth that outpaced the previous year’s results. Castillo shared key financial metrics that underscored the cooperative’s steady expansion: HRCU now holds a total asset base of $876.1 million, up from last year’s totals. Membership also grew by more than 2,000 people, climbing from 65,000 to more than 67,000 member-owners. The credit union’s loan portfolio remains strong, she added, with continued lending across consumer, small business, and commercial segments. “By offering competitive interest rates, we don’t just grow our own institution—we empower our members to build their own wealth, and we fuel broader economic growth across Belize by providing the capital small businesses and commercial ventures need to thrive,” Castillo noted.

    Beyond formal business, the AGM includes longstanding traditions designed to reward members for their participation and engagement. This year, the cooperative offered more than $30,000 in cash prizes, including 25 $1,000 awards, a $5,000 grand prize, and six additional $600 prizes for members who checked in via QR code. Menzies acknowledged that the raffles draw many attendees, but emphasized that most come to stay connected to the cooperative they own. “Most of our members genuinely love the credit union movement and what we stand for,” he said. “They want to know what we’re working on next, and how we’re moving forward to serve them better.”

    As consumer expectations shift and digital banking becomes the norm for all age groups, HRCU is prioritizing technological innovation to meet members where they are. The institution has expanded its suite of online digital services, allowing members to access their accounts from anywhere in the world, and transfer funds seamlessly between HRCU and all other Belizean banks and credit unions. “Not that long ago, we thought only younger members were interested in mobile banking, but today everyone relies on these tools,” Menzies explained. “We’re committed to keeping pace with technology to make banking faster, more convenient, and more reliable for all our members.”

    Earlier in 2026, HRCU opened a new branch in Belmopan, the nation’s capital, to meet growing demand for services in the capital and the broader Cayo District. Castillo reported that the new branch has already exceeded performance expectations, and the cooperative has plans to continue expanding its physical footprint to reach every district across Belize in the coming years. In leadership business, Carol Babb was elected unopposed to serve as the credit union’s new Vice President. This report was prepared by Britney Gordon for News Five.

  • HRCU President Responds to Backlash Over 6% Interest Loan

    HRCU President Responds to Backlash Over 6% Interest Loan

    June 2, 2026 – A controversial low-interest loan extended to the top leader of one of the nation’s largest credit unions has sparked widespread backlash over fairness and equal access to financial services, bringing institutional governance practices under intense scrutiny at Holy Redeemer Credit Union’s (HRCU) annual general meeting.

    During the meeting, voting member-owners of the cooperative financial institution directly confronted HRCU President Wendy Castillo over the special 6% interest rate loan approved for her, demanding answers as to why identical favorable terms are not extended uniformly to all credit union members. Alfonso Noble, one HRCU member-owner, placed the issue at the center of the assembly’s agenda, pushing for full public transparency around the credit union’s internal loan approval processes.

    Castillo has defended the transaction, pushing back against claims of preferential treatment. In her address to attendees, the HRCU president emphasized that the 6% loan agreement fully complied with existing institutional policies. She clarified that the reduced interest rate is not a perk exclusive to senior leadership: any HRCU member or member-owned entity can qualify for the 6% rate on business loans or loans exceeding the $500,000 threshold, provided they meet strict eligibility criteria set by the board of directors.

    Castillo explained that the HRCU board evaluates these rate reduction requests based on rigorous due diligence, assessment of the borrower’s repayment capacity, and collateral security. She added that multiple other business owners and investors with strong portfolios who are HRCU members have already received the same 6% interest terms for their loans.

    Pushing back against accusations that her position granted her unfair access, Castillo noted that her own professional trajectory mirrors that of many HRCU members: she rose from humble, low-income origins to her current leadership role, and she seeks to serve all members rather than pursue personal gain. The HRCU president also confirmed that once the loan is fully repaid, the credit union will collect a total of $601,000 in interest revenue from the agreement.

    Despite Castillo’s defense, the confrontation at the annual meeting has ignited a broader public debate. For cooperative financial institutions built on the principle of equal ownership and access for all members, the controversy has raised a pressing, unresolved question: do all HRCU members truly receive equal opportunity to access favorable lending terms, regardless of their position within the organization?

  • Ministry of Energy puts 19 offshore blocks out to tender

    Ministry of Energy puts 19 offshore blocks out to tender

    Barbados’ Mottley administration has launched a landmark new offshore energy licensing initiative, putting 19 prospective ultra-deepwater exploration blocks up for grabs for international energy companies while requiring all bidders to adhere to rigorous new climate and environmental protection benchmarks.

    The 2026 Offshore Petroleum Direct Negotiations program opened a three-month pre-qualification window that started Monday, with applications set to close September 1, Acting Prime Minister and Energy, Business Development and Commerce Minister Kerrie Symmonds confirmed during a Tuesday press conference at his ministry’s headquarters. The goal of the round, Symmonds explained, is to attract experienced, responsible international partners to advance hydrocarbon exploration in the Caribbean nation’s offshore territory, while ensuring all activity aligns with Barbados’ national climate goals and renewable energy transition commitments.

    “We are seeking partners that can demonstrate a proven track record in oil and gas exploration, but also show they are effective methane managers, committed environmental stewards, and aligned with global climate action,” Symmonds told reporters. “We need operators that can match our holistic national objectives.”

    Addressing widespread public and scientific concern over methane emissions – a particularly potent contributor to anthropogenic climate change – Symmonds noted that emissions mitigation technology has advanced significantly since the country’s last bid round in 2022. He emphasized that the government now recognizes methane’s outsized environmental impact: the gas traps roughly 80 times more heat than carbon dioxide over a 20-year period, making it a leading driver of near-term global warming and a critical priority for regulation.

    In a policy shift from the 2022 bid round, the government has reduced the number of blocks on offer from 22 to 19, reserving the three remaining blocks for future development by Barbados’ national energy entities to protect domestic national interests. “We have made a deliberate policy choice to hold back additional blocks to advance the interests of our country’s own national energy company and domestic stakeholders,” Symmonds said.

    The licensing round forms a core component of a broader whole-of-government multi-energy strategy, designed to balance three critical national priorities: accelerating the expansion of renewable energy capacity, strengthening Barbados’ energy security, and boosting long-term economic resilience. Preliminary geological assessments suggest the country’s offshore waters hold substantial untapped hydrocarbon resources, officials confirmed.

    Jamar White, Director of Barbados’ Natural Resources Division, told the press conference that years of comprehensive seismic surveys and technical analysis have confirmed the potential for significant offshore reserves. “Current data indicates we could have more than 13 billion barrels of oil in place, alongside an estimated 40-plus trillion cubic feet of natural gas,” White said.

    To ensure only qualified, responsible operators advance to negotiations, the government has expanded pre-qualification criteria to five core assessment areas, with an added focus on climate performance that was not required in previous rounds. The criteria evaluate applicants’ legal standing, technical expertise, financial stability, health, safety and environmental (HSE) track records – including climate action and methane management – and commitment to local content development.

    “These expanded criteria are designed to ensure only the best-qualified operators with top-tier environmental records move into the negotiation stage,” White explained. Following the close of pre-qualification in September, qualified firms will receive formal approval notices from the Barbadian government, clearing them to enter direct negotiations for blocks of interest.

    Officials project negotiations will be finalized by January 15, 2027 at the latest, after which successful bidders will receive cabinet approval for their selected blocks. Before any exploration activity can begin, operators will be required to complete rigorous mandatory environmental impact assessments (EIAs) and collect comprehensive baseline environmental data for their blocks. As part of the EIA process, companies must outline their operational plans, detail emissions mitigation strategies, and propose measures to protect local marine wildlife and ecosystems – only after government officials review and approve these plans will exploration be permitted to start.

  • Banks, credit unions ‘ready’ for BimPay

    Banks, credit unions ‘ready’ for BimPay

    Barbados is just weeks away from unveiling a transformative new national digital payment platform, BimPay, scheduled to go live on June 12. A top executive from one of the project’s core participating institutions has framed the launch as a watershed moment for the island nation’s financial sector, forecasting sweeping changes to how residents manage and move their money.

    George Thomas, Chief Executive Officer of Sagicor Bank Barbados Limited, one of the six commercial banks and nine founding financial institutions backing the initiative, says BimPay directly aligns with his organization’s founding mission. When Sagicor Bank entered the Barbadian market three years ago, it launched as a digitally-first financial institution built around a core promise to deliver easier, safer, and more innovative financial services to local consumers. For Thomas, the national digital payment infrastructure project represents the fulfillment of that promise.

    “It feeds into our existential ethos in that we were created to bring ease, safety, and innovation into the financial services market,” Thomas explained, drawing a direct line between BimPay’s goals and his bank’s original vision.

    As a bank leader with professional background as a cybersecurity architect, Thomas brought a unique dual perspective to the project: one that celebrates transformative fintech innovation while prioritizing ironclad consumer protection. He stressed repeatedly that technological progress must never be pursued at the cost of robust security frameworks, and praised the Central Bank of Barbados for striking the perfect balance between forward-thinking regulation and risk mitigation.

    “It’s good to see the regulator embrace that spirit of innovation whilst, again, I keep saying safety,” Thomas said. “Because as much as I’m an innovator, I’m also a cybersecurity architect. I am very conscious that it doesn’t matter what you build or how fancy it is, it has to be safe and secure. So I’m seeing all of those boxes being checked here.”

    Thomas also commended regulators for their inclusive rollout strategy, which first让 internal agency employees test the platform hands-on as initial stakeholders — a small-scale preview of the nationwide adoption journey Barbados will begin next month.

    Drawing on decades of professional experience working on early digital currency and payment experiments across the Caribbean, including past projects in the Eastern Caribbean Currency Union, Jamaica, and The Bahamas, Thomas framed BimPay as a far more pragmatic and scalable solution than prior regional attempts. While he described those earlier efforts as valuable proof-of-concept experiments that helped lay groundwork for future innovation, he argued BimPay addresses the core need of digital finance more effectively.

    “I always believed in this approach because the money is already digital,” Thomas noted. “We just need the plumbing — the infrastructure to bring the capacity to access it and move it around to the general public, again, in a safe and secure manner. I think that is what this marks the kickoff. This puts the ball in play.”

    For Thomas, the launch is more than just a domestic upgrade: it positions Barbados as a regional pioneer, bringing the island’s financial services infrastructure in line with global leaders across North America, Asia, and the Middle East. “All of Barbados should feel very proud come June 12 to be pioneers in the region,” he said. “I think this is a march towards parity with any place on planet Earth… We are now on par in terms of financial services and the capabilities provided to citizens.”

    Beyond simplifying everyday person-to-person and retail transactions for ordinary Barbadians, BimPay unlocks substantial new economic opportunity for local fintech creators, entrepreneurs, and software developers. As an open digital infrastructure, the platform allows third-party builders to develop specialized, niche financial tools that larger incumbent banks often overlook, mirroring successful global fintech-bank partnership models.

    Thomas pointed to well-known international precedents, such as M-PESA’s collaborative work with traditional banks across Africa, and similar fintech-institution partnerships across Europe, North America, and Latin America, to illustrate the potential for inclusive growth. “We know we are entering that race, and I think we’re going to race to the front,” he said.

    On the question of whether all participating institutions will be fully prepared for the June 12 launch, Thomas confirmed that banks and credit unions across the island have been working around the clock for six months to complete seamless system integration. “Nobody in the banking system has been sleeping for the past six months, I dare say,” he joked. “We have been working tirelessly around the clock to make this happen. I can safely say, from a technological perspective, there’s a high degree of readiness, and come June 12, we’ll be ready.”

    Pre-launch feedback from consumers has shown strong demand for advanced digital payment features, especially among younger demographics that are already accustomed to global digital payment standards like Apple Pay and Google Pay. Thomas says millennials and Gen Z creators, in particular, are already looking ahead to how BimPay will support the growing digital creator economy, with many already asking how the platform will enable them to receive payments for their social media content and online work.

    While Thomas acknowledged that a small segment of more risk-averse consumers are taking a natural “wait-and-see” approach ahead of the launch, he emphasized that overall public sentiment across Barbados is overwhelmingly optimistic and enthusiastic as the island counts down to launch day. “That is normal,” he said of cautious attitudes. “But generally speaking, I found that people are optimistic and enthusiastic.”

  • Central Bank unveils BiMPay instant payment system

    Central Bank unveils BiMPay instant payment system

    On a Tuesday gathering held at the Courtney Blackman Grand Salle as part of the internal “Unlock” launch and staff appreciation event, the Central Bank of Barbados made a landmark announcement: the Caribbean nation will usher in a new era of digital finance on June 12 with the official rollout of BiMPay, the country’s first national real-time instant payment system. The platform, which has been hailed as one of the most transformative infrastructure projects the Central Bank has delivered in modern history, will enable frictionless, immediate transactions across all participating commercial banks, credit unions and other licensed financial institutions across the island.

    Deputy Central Bank Governor Michelle Doyle kicked off the event by walking attendees through the intensive two-year development journey that brought the project from concept to launch. She recalled that when work first kicked off in 2024, the team did not start with coding or tech infrastructure — they started with dialogue. Stakeholder workshops were held to map core business requirements, from defining the platform’s core features to deciding which financial entities would join the network, identifying end user needs, and designing a system that would integrate seamlessly into the daily financial lives of all Barbadians.

    Development accelerated dramatically over the past six months, requiring cross-functional collaboration between internal Central Bank departments, external industry consultants, and global fintech vendor Montran, which deployed specialized development teams based in Romania and Ecuador to support the build. Doyle noted that the project effectively compressed 12 months of planned work into just six months, crediting the unwavering commitment of cross-sector teams that sacrificed weekends and personal family time to hit the pre-set launch timeline. Ten days out from the official go-live, Doyle said the platform is ready for launch thanks to the team’s assiduous work, relentless persistence and meticulous attention to detail.

    Central Bank Governor Dr. Kevin Greenidge expanded on the far-reaching economic impact of BiMPay, emphasizing that the initiative represents far more than a simple technological upgrade — it is a foundational overhaul of Barbados’ national financial infrastructure. To illustrate the platform’s purpose, he used a relatable transportation analogy: just as Barbados’ national road network connects communities, residential areas and businesses to enable movement and growth, BiMPay acts as a national financial highway that connects all payment service providers, banks and credit unions into a single interconnected system, allowing funds to move between institutions instantly and seamlessly.

    Greenidge stressed that the core end goal of BiMPay is to advance deep, widespread financial inclusion across every segment of Barbadian society. The platform is designed to make digital payments faster, simpler, more secure and accessible to every person, business and community across the island, including the estimated 10 to 15 percent of Barbadian adults who remain unbanked. “We want to make sure that every Barbadian, whether they have an existing bank account or not, every street vendor, every small business owner, everyone has access to the digital payment system,” he explained.

    To address widespread misconceptions that the central bank would be entering commercial competition with private sector financial institutions, Greenidge clarified that BiMPay operates as a national infrastructure layer, not a commercial service. All customer-facing services are delivered through users’ existing financial providers, with the Central Bank only facilitating the underlying inter-infrastructure transaction network. “We are not competing. We are facilitating,” he emphasized.

    To remove barriers for unbanked and underbanked citizens seeking to access the new system, Sagicor Bank has stepped in as the pioneer partner to streamline onboarding for new users. While existing bank customers will have their accounts automatically and instantly linked to the BiMPay mobile application, the bank has set a 30-minute benchmark for completing full registration and due diligence for first-time users without an existing bank account. Greenidge confirmed that the sector has committed to getting unregistered new users access to a fully functional BiMPay-enabled account within 30 minutes of them downloading the mobile application, cutting through traditional slow onboarding processes.

    Central Bank Director of Communications Noveline Brewster then laid out the step-by-step rollout timeline leading up to and following the June 12 launch. The country’s legacy Automated Clearing House (ACH) and older Real-Time Payments (RTP) platforms will go offline at 2:00 PM on June 12 to enable a seamless midnight switchover to the new BiMPay network. A public evening launch event will be held the same day, featuring live product demonstrations, the first official public transaction processed through the platform, and the world premiere of a custom calypso track dedicated to BiMPay, performed by local artists LeadPipe & Sadis. A nationwide public education and marketing media campaign will launch the following Monday, June 15, to build public awareness and understanding of the new system.

    In a key initiative to ensure no vulnerable groups are left behind during the digital transition, Brewster announced a new strategic partnership with the Barbados Association of Retired Persons (BARP). The Central Bank has signed a memorandum of understanding with BARP to distribute digital tablets and deliver specialized, hands-on in-person training to help senior citizens learn how to use the BiMPay platform safely and confidently.

    Speaking to Central Bank staff in attendance, Greenidge urged employees to act as public ambassadors for BiMPay, helping guide everyday Barbadians through the digital transition. “This is important for families; it is important for all of us,” he said.

  • Guyanese-owned SISPRO teams up with Nigeria’s Bono Energy for offshore exploration

    Guyanese-owned SISPRO teams up with Nigeria’s Bono Energy for offshore exploration

    As of Tuesday, June 2, 2026, a landmark new energy partnership is poised to expand offshore oil exploration in Guyana, after locally-owned energy firm SISPRO announced a joint venture agreement with Nigerian exploration and production operator Bono Energy. The collaboration targets one shallow-water and one deep-water offshore concession, with total projected investment across both blocks reaching as high as $600 million U.S. dollars.

    Senior leaders from Bono Energy, including Director Deji Fawole and Head of Legal and Compliance Leke Solanke, are currently in Georgetown to finalize exploration agreements with Guyana’s Ministry of Natural Resources, with formal signing expected in the coming days. Speaking to reporters on the ground, Fawole outlined the framework for the joint project, confirming the venture has secured full initial funding to launch operations across both concession blocks.

    “We are aligned with SISPRO to advance development of both the shallow-water and deep-water blocks off Guyana’s coast, and we have committed up to $600 million in capital to kickstart this work,” Fawole stated. He added that Bono Energy is dedicated to upholding Guyana’s local content requirements, and will work closely with national authorities to grow the country’s emerging oil and gas sector. Fawole also confirmed that the required signing bonus for the concessions, totaling just under $14 million, will be transferred to the government within the 30-day timeline mandated by regulation.

    Fawole noted that the venture will leverage new seismic data collected by the Guyana government to guide early exploration activities, and expressed strong confidence in the resource potential of both blocks. “Preliminary geological assessments already point to significant untapped potential across our shallow and deep-water concessions,” he said, adding that early estimates place recoverable oil reserves at approximately 300 million barrels in the shallow-water block alone. SISPRO Company Secretary Abbigail Loncke-Watson clarified that initial phase investment will fall between $150 million and $200 million, with additional funding allocated for subsequent exploration and appraisal work.

    While the partnership moves toward final approval, Guyana’s Minister of Natural Resources Vickram Bharrat issued a public timeline for the agreement, warning that the government may revoke the concessions and reoffer them in a future competitive bidding round if SISPRO fails to resolve outstanding internal issues before the signing deadline. “If we do not have signed agreements in place by the required date, those blocks will almost certainly be added to the next bid round,” Bharrat told reporters. He declined to share specific details of the internal disputes, but noted that the government has already extended significant flexibility to SISPRO due to its status as a majority Guyanese-owned company. “We have been very lenient, primarily because this is a local firm,” Bharrat said.

    For its part, SISPRO has moved to address the outstanding issues, which Chairman Dr. Ayodele Dalgety-Dean confirmed centered on confusion around the company’s beneficial ownership structure. Speaking to reporters, Dr. Dalgety-Dean expressed full confidence that the agreement would be finalized imminently, “within a matter of weeks.” She clarified that all ownership questions have now been resolved, with three officially registered beneficial owners: Dr. Dalgety-Dean, Ms. Loncke-Watson, and Dr. Melissa Varswyck. The chairman also pushed back against earlier rumors, confirming that local hotelier Dee George was never a beneficial owner of SISPRO, and has already stepped down from her position as a company director.

  • Making Money from Seaweed

    Making Money from Seaweed

    Across coastal communities around the globe, seaweed has quietly evolved from a wild ocean plant to a versatile commercial commodity that ends up in everything from refreshing beverages to skincare products. Now, one of the world’s leading international conservation organizations is working to unlock this economic potential for more residents of Belize, blending environmental sustainability with new income-generating opportunities.

    The Nature Conservancy (TNC) has launched a self-paced, free online training program focused on small-scale seaweed farming, designed to be accessible to a wide range of learners. Aspiring entrepreneurs, local fishermen seeking to diversify their catch and income, community organizers, and anyone curious about the emerging blue economy can complete the entire curriculum in just four to five hours, fitting the coursework around their existing schedules.

    The program was not developed in a vacuum: experts and community representatives from Belize, Indonesia, and Tanzania collaborated to shape the curriculum, ensuring it addresses the specific needs and conditions of tropical coastal communities. Course content covers all core fundamentals, from the basic mechanics of starting a small seaweed farm to strategies for implementing low-impact growing practices that protect surrounding marine ecosystems. It also walks learners through how entire communities can organize collective operations to maximize shared economic benefits.

    Unlike many forms of agricultural and aquacultural production, seaweed farming carries an exceptionally low environmental footprint. It requires no arable land, no inputs of fresh water, and no synthetic fertilizers or animal feed, making it far less taxing on natural resources than conventional food production. Beyond that, growing seaweed actively supports marine health: it filters excess nutrients from coastal waters to improve water quality, creates critical habitat for a wide range of fish and other ocean species, and absorbs carbon dioxide from the ocean to help mitigate the impacts of climate change.

    In Belize, a small but growing commercial seaweed industry already exists, with local businesses processing the crop into a diverse array of products. Dried whole seaweed, powder, body soaps, hydrating gels, health drinks, and nourishing hair products are already on the market, demonstrating the strong consumer demand for seaweed-based goods. TNC’s new course aims to lower the barrier of entry for new producers, helping more Belizeans join this growing market while upholding strict sustainable practices that protect the country’s valuable coastal ecosystems. The full course is currently available for enrollment through TNC’s official website.

  • ITA Airways launches direct Rome–Santo Domingo flights

    ITA Airways launches direct Rome–Santo Domingo flights

    In a move set to reshape air travel links between the Caribbean and Southern Europe, Aeropuertos Dominicanos Siglo XXI (Aerodom), the operator of Dominican Republic’s key airport infrastructure, has praised ITA Airways’ launch of a new nonstop service connecting Rome and Santo Domingo. This strategic connectivity addition is projected to drive meaningful growth in both European inbound tourism and cross-border business travel between the two nations.

    The new route is scheduled to commence operations on November 30, initially running as one weekly flight every Monday. To meet projected demand, ITA Airways will ramp up service to two weekly rotations starting December 14, adding a Sunday flight that will remain in the schedule through March 2027. All services on this route will be operated using state-of-the-art Airbus A330neo aircraft, a modern, fuel-efficient jet configured with three cabin classes: Business, Premium Economy, and Economy, to cater to the diverse needs of leisure and business travelers alike.

    For Aerodom, the addition of Rome to Las Américas International Airport’s expanding route network delivers tangible value to the Dominican Republic’s aviation ecosystem. It further solidifies Santo Domingo’s standing as the country’s leading international entry point for global visitors and trade. Aerodom Chief Executive Officer Cyril Girot emphasized that the new connection will go beyond simple air travel: it will deepen longstanding cultural, economic, and political ties between the Dominican Republic and Italy, while also boosting the country’s appeal as a top-tier destination for both international tourism and foreign business investment.

    This new route forms a core component of ITA Airways’ broader strategic expansion plan across the Americas, as the carrier seeks to capture growing demand for transatlantic travel between Europe and the Caribbean. Industry stakeholders on both sides anticipate the service will unlock new opportunities for reciprocal tourism growth, expanded bilateral trade, and increased people-to-people cultural exchange between Italy and the Dominican Republic.

  • Dominican Republic promotes premium cocoa at Brussels industry forum

    Dominican Republic promotes premium cocoa at Brussels industry forum

    The Dominican Republic has stepped onto the global stage to highlight the exceptional quality and untapped international potential of its cocoa sector, hosting the Dominican Cocoa Forum in Brussels. The event forms a key part of the inaugural Dominican Week, a cultural and trade initiative taking place across Belgium and the Netherlands, designed to open new doors for Dominican agricultural products in European markets.

    Stakeholders from across the global cocoa supply chain gathered at the forum, bringing together local Dominican cocoa producers, award-winning European chocolatiers, trade entrepreneurs, institutional trade representatives, and senior decision-makers from the European cocoa sector. The core goals of the gathering were twofold: to strengthen long-term bilateral trade relationships between the Dominican Republic and European markets, and to raise the international profile of Dominican cocoa among global buyers.

    One of the central agenda items for the forum was a detailed update on the rollout of the official “Dominican Cocoa” Geographical Indication (GI) Seal. This certification initiative is crafted to do more than just verify and protect the national origin of Dominican cocoa; it is also positioned to boost the product’s global brand recognition and elevate its market value. Event organizers stressed that the GI certification will reinforce the already strong reputation Dominican cocoa holds for consistent quality, ethical sustainable production, full supply chain traceability, and the unique flavor profiles tied to the country’s distinct growing regions.

    Joan Margarita Cedano, the Dominican Ambassador to Belgium, addressed attendees during the opening session, framing Dominican cocoa as a global gold standard for fine-flavor cocoa. She noted that the product has long been recognized for its one-of-a-kind taste characteristics and rigorous adherence to international production standards. Beyond formal speeches, the forum included a full schedule of expert-led presentations, panel discussions focused on sustainable production practices and origin certification protocols, and guided product tastings. These activities gave European buyers and large chocolate manufacturers a hands-on opportunity to experience the unique qualities that have secured the Dominican Republic’s place among the world’s top premium cocoa producing nations.