Carib Scope

分类： business

  • Fusion questions Sony block on new Spider-Man release

    Fusion questions Sony block on new Spider-Man release

    A major distribution dispute has unfolded in The Bahamas’ film exhibition market, after Sony Pictures unexpectedly blocked one of the country’s largest cinema chains from carrying its highly anticipated summer blockbuster *Spider-Man: Brand New Day*, leaving local movie-goers with only one limited screening option and triggering questions about the decision’s link to a recent cybersecurity breach at the theater.

    Fusion Superplex, a popular nine-screen entertainment complex that draws thousands of Bahamian audience members, has confirmed that its international film booking team was repeatedly denied licensing rights to the title ahead of its global July 31 theatrical launch. Sony Pictures, the official distributor of the latest Spider-Man installment, has offered no public or private explanation for the refusal, even as Fusion notes that its account remains in good standing with no unpaid balances owed to the studio.

    What has deepened the uncertainty around the call is Fusion’s disclosure that it explicitly asked Sony if the denial was connected to the cinema’s recent ransomware and cyberattack incident — a query that the studio has yet to answer, as of press time. Unlike the United States, where the blockbuster opened wide to multiplexes across the country on July 31, The Bahamas currently only hosts screenings at The Island House, a small boutique resort that also operates an independent cinema. Following overwhelming demand from local fans, The Island House moved quickly to add extra showings via announcements on its social media channels.

    Tecoyo Bridgewater, co-founder and chief legal officer of Fusion Superplex, clarified that Sony’s standard industry practice is to approve film licensing on a title-by-title basis for exhibitors, a framework that Fusion has operated under successfully for previous releases. For the majority of Bahamian audiences, the limited single-location release has created significant access barriers, Fusion emphasized. Many residents rely on the large nine-screen complex for major blockbusters, and the current distribution setup puts the film out of reach for most people who would have chosen to see it at Fusion.

    Despite the standoff, the cinema said it remains optimistic that Sony will reverse its decision and approve licensing for a August 7 release at its locations. Fusion also issued a formal apology to its customers who had planned to watch the new Spider-Man installment at its complex.

  • Antiguan Ryancia Henry Appointed Hotel Manager at Luxury Dallas Hotel

    Antiguan Ryancia Henry Appointed Hotel Manager at Luxury Dallas Hotel

    A standout Caribbean hospitality professional is making her mark on the U.S. luxury hotel industry, with Antiguan native Ryancia Henry stepping into the role of hotel manager at The Knox, Auberge Collection — Dallas’ premier high-end hospitality destination.

  • Economy : ADIH Strategic Industrial Policy Plan

    Economy : ADIH Strategic Industrial Policy Plan

    After six consecutive years of deepening economic contraction that has left Haiti’s industrial sector on the brink of collapse, the Association of Industries of Haiti (ADIH) has launched an ambitious 25-year Strategic Industrial Policy Plan (PSPI 2026-2050), developed in close coordination with Haiti’s Ministry of Commerce and Industry following extensive input from across the national industrial sector’s key stakeholders.

    Decades of systemic stagnation have left Haiti facing cascading structural economic challenges that demand urgent, coordinated intervention, according to data included in the plan. IMF figures show that industrial contribution to Haiti’s gross domestic product (GDP) has plummeted from 18% in the 1980s to just 4.5% in 2026. Nearly 78% of the country’s working-age population is either underemployed or locked out of the formal labor market, while an annual $4 billion trade deficit reflects that Haiti imports more than 80% of its consumer goods. Cumulative inflation over the past six years has surpassed 30%, eroding business working capital before production cycles even conclude, and electricity costs exceed $0.52 per kilowatt-hour—multiple times the regional average—rendering domestic production uncompetitive on the global and even regional stage. Without immediate structural reform, ADIH warns these trends will permanently cripple Haiti’s productive base, eliminate prospects for job growth, and deepen the country’s dangerous dependence on foreign imports.

    At its core, the PSPI proposes a landmark National Competitiveness Pact between the Haitian government and the country’s productive sectors, designed to rebuild industrial capacity over 25 years and lay the groundwork for inclusive, sovereign, and sustained long-term growth. The plan’s 2050 vision frames Haiti as a competitive, self-sustaining production economy that generates widespread formal employment, cuts import vulnerability, and consolidates national economic sovereignty.

    To turn that vision into measurable progress, the plan sets bold quantitative targets for 2050: the creation of 500,000 new formal industrial jobs (up from the current 150,000), an increase in industrial GDP contribution to 20%, a quadrupling of industrial exports from $1 billion to $4 billion annually, a 30% reduction in the national trade deficit through targeted import substitution, and $250 million in additional annual tax revenue for the Haitian government.

    A defining feature of the plan is its break from Haiti’s current industrial incentive model: instead of relying on passive tax breaks tied to corporate profits, ADIH proposes an active incentive framework centered on boosting the competitiveness of core production factors. This model draws on successful development experiences across other Caribbean and emerging economies, rooted in the belief that Haiti has untapped entrepreneurial potential that can only be unlocked with a stable, coherent competitive regulatory environment.

    Today, domestic producers remain blocked by overlapping structural barriers: exorbitant energy costs, a tax system ill-suited to support productive investment, tariffs on critical production inputs, prohibitive logistics costs, and limited access to modern manufacturing equipment. ADIH argues that strengthening industrial competitiveness is impossible without coordinated, proactive action from the public sector.

    To address these barriers, the plan is organized around six mutually reinforcing strategic pillars, each paired with concrete actionable measures:

    1. **Unlocking Domestic Production**: The first pillar targets permanent reductions in production factor costs through stable, predictable duty and tax exemptions for raw materials, industrial equipment, machinery, spare parts, production technology, and energy and storage infrastructure. This full guaranteed exemption is designed to structurally lower production costs and reduce business break-even points, allowing Haitian industries to regain their competitive edge. Under this framework, industrial firms will fulfill all tax obligations, including corporate income tax, only after the state has put in place the infrastructure and conditions needed for them to operate profitably. ADIH frames this shift as a paradigm shift toward productive sovereignty and a roadmap for national economic reconstruction aligned with evolving global trade dynamics.

    2. **Prioritizing Energy Security and Affordability**: The second pillar positions affordable energy as the non-negotiable foundation of any credible industrial policy, introducing targeted mechanisms to support productive energy use, incentivize on-site power generation, scale solar photovoltaic energy, and advance public-private partnerships to drive down costs substantially.

    3. **Upgrading Critical Production Infrastructure**: The third pillar focuses on expanding and modernizing core industrial infrastructure, including the development of new industrial zones, upgrading logistics and port facilities, and rehabilitating existing assets to streamline supply chains and cut operational lead times.

    4. **Investing in Human Capital and Technical Training**: The fourth pillar addresses gaps between workforce skills and industry demand, proposing the creation of sector-specific technical training centers, expansion of apprenticeship programs, and incentives for continuing education to align worker capabilities with industrial needs.

    5. **Expanding Access to Capital and Promoting Investment**: The fifth pillar targets persistent financing barriers, calling for the creation of a dedicated Industrial Development Fund, a public loan guarantee system, tailored refinancing mechanisms, and a targeted tax credit for industrial employment.

    6. **Strengthening Regional Integration and Global Market Access**: The sixth and final pillar aims to expand export opportunities by fully operationalizing Haiti’s participation in the CARICOM single market, consolidating existing preferential trade arrangements, and establishing a national export promotion agency to open new market channels.

    Beyond boosting production, ADIH notes the plan will deliver broad budgetary and macroeconomic benefits for the Haitian state, drawing on global evidence that well-designed competitiveness policies expand the tax base, support formalization of the informal economy, and strengthen long-term public financing capacity. By waiving taxes on production inputs, the state secures a larger share of future profits from growing, profitable firms; only formal, registered businesses can access plan incentives, driving a voluntary transition out of the informal sector; mass formal job creation will boost consumption, increase social security contributions, accelerate monetary circulation, and strengthen social stability; and a competitive industrial sector will create a national multiplier effect, supporting agricultural growth, stimulating the service sector, expanding exports, reducing imports, and strengthening Haiti’s national currency, the gourde, to stabilize the overall economy.

    To guarantee rigorous, transparent implementation over its 25-year timeline, the plan establishes a dedicated institutional framework for strategic oversight, technical execution, and public accountability. A new National Industrial Policy Council (CNPI), co-chaired by Haiti’s Prime Minister/Commerce Minister and the ADIH President, will serve as the strategic steering body meeting quarterly. A Permanent Technical Implementation Unit (UTE) will be housed within the Prime Minister’s Office to manage day-to-day execution, and sector-specific committees will be established for each priority industrial area, including agribusiness, construction, textiles, packaging, pharmaceuticals, and renewable energy. A rigorous monitoring and evaluation system will include quarterly performance dashboards, annual reports to Haiti’s Parliament, triennial independent external audits, and a public transparency web portal publishing beneficiary lists, incentive amounts, performance indicators, and meeting minutes.

    The plan is rolled out in three phased implementation stages with clear, measurable priorities:
    – 2026–2027: Establish the full legal and institutional framework, launch initial tax instruments, and secure $50 million in seed funding. The stage targets 12,000 new jobs and $120 million in new investment, with a total budget of $170 million.
    – 2027–2029: Deploy core infrastructure including solar energy projects, new industrial zones, and expanded technical training. The stage targets 90,000 cumulative new jobs, a 40% increase in exports, and industrial GDP contribution rising to 12%, with a total budget of $700 million.
    – 2030–2050: Consolidate gains, invest in research and development, and solidify Haiti’s regional competitive position. The final stage targets 500,000 total new jobs, 20% industrial contribution to GDP, and $4 billion in annual exports, with a total combined budget of $1.3 billion.

    To build immediate confidence among investors and international development partners, ADIH has identified five high-priority short-term actions to be implemented before the end of 2026–2027: adoption of a national industrial policy decree by summer 2026, establishment of the CNPI and recruitment of the UTE by summer 2026, launch of a 30% tax credit for industrial employment by October 2026, deployment of mobile cargo scanners at ports and border crossings by mid-2027, and establishment of the Industrial Development Fund with an initial $50 million endowment by the first quarter of 2027.

    The PSPI 2026-2050 is framed as a comprehensive roadmap to drive economic recovery, transform Haiti’s productive sector, and consolidate national economic sovereignty, providing a structured action framework that aligns public sector efforts and private sector commitment around shared goals of competitiveness, job creation, and investment growth. It is built on a principle of shared responsibility: the state is accountable for creating a pro-production, pro-investment regulatory environment, while the productive sector commits to formalization, job creation, and full tax compliance.

    ADIH emphasizes that the long-term success of the plan depends on sustained political will, effective public-private partnership, budgetary discipline aligned with agreed commitments, significant improvements in security across industrial production zones, and gradual mobilization of support from international development partners tied to credible, verifiable results. Ultimately, the plan’s goal goes beyond addressing Haiti’s immediate crisis: it seeks to rebuild the sustainable foundations of a national productive capacity that can support long-term inclusive development for all Haitians.

  • Tax Service Sets GST-Free Laptop Rules

    Tax Service Sets GST-Free Laptop Rules

    As the 2026 back-to-school season approaches, the Belize Tax Service Department (BTSD) has released a comprehensive set of regulatory guidelines for retailers taking part in this year’s highly anticipated two-day GST-Free promotional event. The tax exemption program, scheduled to run on August 15 and August 29, is designed to ease the financial burden of educational spending for students, guardians, and teaching staff across the country, while establishing clear protocols to ensure the tax concession is distributed fairly and administered with full transparency.

    Under the new rules, consumers will be eligible to purchase one laptop completely free of General Sales Tax on each of the two designated event days. To prevent misuse of the tax break, participating retail businesses are required to complete strict identity verification for every customer claiming the exemption. All purchasers must present a valid government-issued photo identification, such as a Belize Social Security card or national passport, to qualify for the tax-free purchase.

    In addition to identity checks, retailers bear the responsibility of documenting a full range of transaction details for regulatory records. Required information includes the customer’s full name, government identification number, purchase invoice number, exact date of transaction, laptop brand and specific model, the device’s unique serial number, and the final selling price. All invoices for GST-free laptop purchases must also prominently display the clear notation: “GST Free – Back-to-School Tax-Free Days 2026,” and all supporting transaction documentation must be retained as part of the business’s permanent GST filing records.

    To streamline regulatory oversight, the BTSD has set strict reporting deadlines for participating retailers. Businesses must submit a complete summary of all GST-free laptop sales from the August 15 event no later than August 21, while sales from the August 29 event must be reported by September 4. Following the conclusion of the initiative, BTSD officials confirmed that the department will conduct thorough post-event compliance reviews, cross-checking submitted sales data against business records to identify any irregularities.

    The department has also issued a stern warning to businesses about the consequences of abuse. Any retailer found to be knowingly facilitating or participating in misuse of the GST concession – such as helping customers claim multiple unauthorized tax exemptions or falsifying transaction records – will face serious penalties. These consequences may include full reassessment of the business’s overall GST liability, accrued interest on unpaid taxes, substantial financial penalties, and additional legal action where appropriate.

  • Caribische ontwikkelingsbank onderzoekt regionale effectenbeurs voor Caricom

    Caribische ontwikkelingsbank onderzoekt regionale effectenbeurs voor Caricom

    The Caribbean Development Bank (CDB) has launched a landmark initiative to advance economic integration across the Caribbean Community (Caricom), committing $100,000 to fund a feasibility assessment for establishing a regional securities exchange under the Caricom Single Market and Economy (CSME) framework.

    The assessment will be carried out by the Caricom Private Sector Organization (CPSO), which has been tasked with mapping out the technical, legal, and economic viability of a unified regional exchange. Beyond core viability checks, the study will also evaluate which operating model best aligns with the unique needs of individual member states and their existing domestic financial markets.

    CDB officials emphasize that deepening and expanding accessible regional capital markets is a critical prerequisite to boosting entrepreneurship, accelerating innovation, and attracting sustained investment across the Caribbean. “Long-term growth across the Caribbean depends on our ability to build financial systems that give businesses streamlined access to the capital they need to expand,” explained Lisa Harding, head of CDB’s Private Sector Division.

    This feasibility study marks the official first phase of a broader project aimed at advancing deeper financial integration across Caricom. Over the course of the assessment, researchers will examine regional demand for capital market services, opportunities to harmonize cross-border financial regulations, successful global case studies of regional exchanges, and priorities from both member state governments and private sector stakeholders.

    A unified regional exchange would deliver widespread benefits across the bloc: it would give domestic firms from small member states far easier access to capital from regional investors, while simultaneously offering local investors exposure to a far broader pool of assets than the tiny, fragmented national exchanges currently operating across most of the Caribbean.

    For small economies like Suriname, the initiative carries particularly high stakes. Suriname’s domestic capital market is currently very small, with only a limited number of listed domestic companies. Access to a regional exchange would remove key barriers to growth for Surinamese firms, making it far simpler to secure financing for expansion and large-scale investment projects. Beyond individual national benefits, an integrated capital market would also boost cross-border investment flows across Caricom and strengthen overall economic cooperation between member states.

    The concept of a regional Caribbean securities exchange is not a new one: discussions around building an integrated capital market as a core pillar of the CSME have been ongoing for decades. A unified exchange has long been framed as a critical infrastructure to enable the free movement of capital across the bloc and better connect the region’s fragmented financial systems. With CDB’s new funding for the feasibility study, the long-discussed initiative has finally received tangible new momentum. The study’s final findings will clarify whether the region is prepared to move forward with the project, and outline what regulatory and institutional steps will be required to turn the plan into a working reality.

  • Finabank eerste commerciële bank in NOB/IDB-programma voor extra financiering MKB

    Finabank eerste commerciële bank in NOB/IDB-programma voor extra financiering MKB

    On Friday, Suriname’s Nationale Ontwikkelingsbank (NOB) and local commercial lender Finabank marked a historic milestone in the country’s small and medium enterprise (SME) development landscape, signing the first ever second-tier loan agreement under a joint financing initiative between NOB and the Inter-American Development Bank (IDB). This agreement makes Finabank the first commercial financial institution in Suriname to gain access to additional credit earmarked specifically for supporting SME investments.

    The partnership forms a core component of the IDB’s $SU-L1069 program, officially titled the Financing Program for Productive and Sustainable Development in Suriname. Under the program’s structure, the IDB has extended a core loan to the government of Suriname, with NOB tapped as the implementing body responsible for on-lending funds to local commercial partners. Through the newly signed agreement, Finabank will gain access to a pool of additional capital, which it will then disburse as tailored loans to local SME owners across the country.

    The allocated funds are targeted at high-impact investment priorities: business expansion, operational innovation, transitions to more sustainable business models, and new job creation. Stakeholders across all partnering institutions have emphasized that this first agreement represents a critical step forward in strengthening financing access for Suriname’s entire business community.

    Under the program’s unique second-tier lending model, NOB acts as an intermediary: it receives the core funding from the IDB-backed initiative, then passes these resources on to participating commercial banks like Finabank, which in turn handle direct lending to SME entrepreneurs. This structure is specifically designed to address longstanding gaps in credit access for small and medium-sized businesses, enabling more enterprises to pursue growth-oriented and sustainable development investments.

    A defining feature of the broader program is its explicit focus on advancing inclusive economic growth. Special provisions have been built in to prioritize lending to underrepresented entrepreneur groups, including women-led businesses, organic agricultural operations, and enterprises owned by or serving Maroon and Indigenous communities. NOB officials noted that the program is intentionally structured to better support entrepreneurs who have historically faced systemic barriers to accessing affordable credit, helping them expand operations and strengthen their economic standing.

    Beyond expanding credit flow to SMEs, the initiative also aims to drive long-term development of Suriname’s domestic financial sector. Participating financial institutions receive support to expand and deepen their credit portfolios, equipping them to play a larger role in funding productive, growth-generating investments across the national economy.

    With its established expertise and leading position in corporate lending, NOB identifies Finabank as a key strategic partner for rolling out the program across the country. The collaboration between the public development bank and the private commercial lender is expected to help build a financing framework that is far more aligned with the actual needs of Suriname’s entrepreneurs. According to NOB leadership, the signing of this first agreement marks a significant milestone toward building a more robust business climate and advancing inclusive, sustainable economic growth across Suriname.

  • Lynn Young Explains What’s Behind Rising Light Bills

    Lynn Young Explains What’s Behind Rising Light Bills

    By mid-2026, Belizean households across the country are grappling with a growing financial strain: sharply higher monthly electricity bills that have left countless consumers asking for clear explanations of the sudden price jump. Belize Electricity Limited (BEL), the nation’s primary power utility, confirms that no single factor is to blame, instead pointing to a confluence of interconnected global, regional, and local challenges that have driven up both procurement and generation costs for the company. In a public briefing addressing growing consumer frustration, BEL Executive Chairman Lynn Young walked through the full breakdown of cost calculations and outlined the structural constraints that have created the current pricing crisis.

    At the top of Young’s list of contributing factors is the global surge in fossil fuel prices, which has hit BEL’s in-country generation capacity directly. The utility relies on two gas-powered turbines that run on diesel to supplement incoming supply, and even with BEL’s access to duty-free diesel imports, Young confirms that fuel costs have nearly doubled since the start of 2026. The impact is severe: the cost of diesel alone to power these turbines now exceeds the retail price BEL charges customers for the electricity they generate, creating an immediate drag on the company’s bottom line that has necessitated higher retail rates to close the gap.

    Compounding this fuel cost pressure is a decades-long gap in local base-load energy infrastructure development. Young explained that for roughly 16 years, no major new base-load generation capacity has been brought online in Belize, leaving the nation heavily dependent on imported power from Mexico’s state-run utility Comisión Federal de Electricidad (CFE). When CFE is unable to meet its supply commitments or raises its export prices dramatically, BEL has no alternative but to absorb the higher costs to avoid widespread national blackouts. In recent extreme heat events that have pushed up domestic power demand for cooling, CFE has been unable to cover the full shortfall, and BEL’s limited local capacity leaves it ill-equipped to make up the difference, creating a fragile, cost-prohibitive supply balance. At its most extreme, Young noted, CFE has charged BEL as much as one U.S. dollar per kilowatt-hour for emergency imported power, while BEL can only charge end customers a maximum of roughly 44 Belizean cents per kilowatt-hour – a massive gap that creates unsustainable financial pressure on the utility.

    Long lead times for new energy projects have prevented a quick resolution to the capacity gap, even with government efforts to expand renewable generation. The Belizean government began advancing utility-scale solar energy projects years ago to address the looming capacity shortfall, but these multi-million-dollar infrastructure initiatives require years of development to deliver results. Securing project financing alone can take 12 to 24 months, followed by another year of engineering design, and custom manufacturing of specialized grid connection equipment such as transformers that cannot be purchased off the shelf. Compounding these timelines is ongoing global supply chain disruption tied to active conflicts in Ukraine and the Middle East, which have stretched manufacturing lead times and created significant logistics delays that push project completion even further into the future.

    As consumers continue to cope with higher monthly bills, BEL’s briefing underscores that the current price surge is the product of long-term structural challenges and recent global shocks, with no short-term fix available to immediately bring costs back down.

  • Millennium Challenge Compact Moves Closer to Reality

    Millennium Challenge Compact Moves Closer to Reality

    As the September 18 launch date approaches, the landmark $125 million Millennium Challenge Compact between the Government of Belize and the United States is one step closer to implementation, with Belizean officials now advancing the required domestic ratification process. On July 31, 2026, Belizean Prime Minister John Briceño tabled a critical amendment to the existing Millennium Challenge Act, a legislative change designed to clear the final legal hurdles for the agreement to take effect. During the parliamentary introduction of the amendment, Briceño outlined exactly how the U.S. funding will be allocated across three key priority sectors for Belize’s long-term development. Briceño used his address before parliament to publicly appeal for cross-party support for the compact, emphasizing the transformative benefits the funding will deliver for the small Central American nation. “Mr. Speaker I would like to take the opportunity to reiterate my government’s support for this program and our commitment to see the program through to a successful completion,” Briceño told the chamber. “And I take the opportunity to publicly ask the leader of the opposition and its members to support this. It is something good.” The largest portion of the funding will go toward modernizing Belize’s education system, aligning curricula and training programs with the evolving needs of the country’s economy to better prepare the workforce for current and future job opportunities. A second allocation will support the modernization of Belize’s national energy sector legislation and upgrade critical energy infrastructure. Most notably, the funding will cover a large share of the costs to replace the aging submarine power cable that connects mainland Belize to the high-demand tourist hub of Ambergris Caye, San Pedro. Briceño noted that the existing cable has far exceeded its intended service life and was scheduled for replacement as early as 2019, making the project an urgent priority for the government. “That will not be enough. The government will still have to put in additional money to fund that project,” Briceño added, confirming that the compact covers only a portion of the total infrastructure cost. Following its introduction in parliament, the proposed amendment will now be referred to a House committee for further consultation and review before a full parliamentary vote on ratification can proceed. The Millennium Challenge Corporation, the U.S. agency that administers these compacts, designs the agreements to support inclusive, sustainable economic growth in partner countries, with funding tied to proven policy and infrastructure priorities. Once ratified by Belize’s legislature, the compact will officially launch on September 18, kicking off years of planned investment across the priority projects.

  • Ambassador Nixon to Explore Africa–Caribbean investment opportunities

    Ambassador Nixon to Explore Africa–Caribbean investment opportunities

    Scheduled to run from August 6 to 8, 2026 in Johannesburg, the fourth annual DLO African Women in Leadership (AWIL) Summit has confirmed that His Excellency Dr Richard A Nixon, Senior Resident Ambassador of Grenada, will join its high-profile gathering of global industry leaders, investors, policy architects, development finance bodies and innovative entrepreneurs.

    Organized around the central theme “Connecting Capital to Opportunity Across Africa,” the 2026 summit is built to serve as a collaborative dialogue hub for pressing economic topics spanning cross-border investment, large-scale infrastructure development, small and medium enterprise growth, skills capacity building, and private sector partnership. It will bring together decision-makers from across African nations and global international markets to uncover commercially viable, mutually beneficial opportunities that drive inclusive growth.

    Ambassador Nixon brings a unique multi-role perspective to the summit: in addition to his diplomatic post as Grenada’s Senior Resident Ambassador, he chairs the Grenada Investment Development Corporation (GIDC) and holds the appointment of Ambassador-Designate to the African Union. Throughout his decades-long diplomatic career, he has been a vocal advocate for deeper collaboration between African and Caribbean stakeholders, centering his work on investment attraction, cross-regional business alliances, and shared economic advancement. As head of the GIDC, he has led strategic efforts to position Grenada as a competitive, welcoming destination for global capital, while facilitating ongoing dialogue between international institutions and Caribbean market opportunities.

    Nixon’s participation in the 2026 AWIL Summit underscores a rapidly growing interest among global investors, business leaders and development institutions in unlocking untapped commercial links between Africa and the Caribbean. While cross-regional engagement between the two blocs has been expanding gradually in recent years, stakeholders across both regions are increasingly recognizing the massive collaborative potential across high-growth sectors including renewable energy, tourism, agriculture, education, digital innovation, and entrepreneurship.

    In comments ahead of the summit, Linda Mabhena-Olagunju, Founder and Convenor of the DLO African Women in Leadership Summit, highlighted the event’s core mission: “One of the central objectives of the AWIL Summit is to create tangible, meaningful commercial opportunities for women-owned enterprises by connecting them with global investors, strategic industry partners, and untapped new markets. We are thrilled to welcome Ambassador Nixon to this year’s gathering, and we look forward to productive conversations that will strengthen business collaboration and unlock new investment pathways between African and Caribbean institutions.”

    During the three-day event, Nixon will deliver targeted insights on three core themes: modern investment promotion strategy, economic diplomacy as a tool for cross-regional growth, and the critical role of industry platforms like AWIL in building long-term professional relationships, facilitating cross-border knowledge exchange, and laying the groundwork for future commercial partnerships between African and Caribbean organizations.

    Hosted by DLO Energy Group in strategic partnership with the United Nations Office in South Africa, the 2026 AWIL Summit brings together senior leaders from government, development finance institutions, multinational corporations, global investment funds and the broader private sector. The event’s agenda is designed to enable open idea exchange, build durable strategic networks, and identify actionable opportunities that support expanded investment, inclusive entrepreneurship, and sustainable, broad-based economic growth across the African continent.

    The summit’s three-day schedule is structured to cater to diverse participant needs: Day 1 will host the main Business and Leadership Summit at Webber Wentzel in Sandton; Day 2 will feature closed-door, invitation-only executive networking experiences across Johannesburg; and Day 3 will conclude with a Creative Economy Brunch held at Johannesburg’s iconic Shepstone Gardens.

  • Fine-flavour cocoa industry strengthened through EU/ITC-led training

    Fine-flavour cocoa industry strengthened through EU/ITC-led training

    Nestled at Grenada’s iconic Belmont Estate in St Patrick, a three-day intensive Cocoa Post-Harvest Training Programme recently brought together more than 30 stakeholders spanning every link of the nation’s cocoa value chain, launching a targeted effort to reinforce one of Grenada’s most celebrated export sectors. Designed to upgrade technical expertise, raise product quality, and cement the long-term global competitiveness of Grenada’s world-renowned fine-flavour cocoa industry, the initiative forms a key component of the European Union-funded ACP Business Friendly Programme. Implemented by the International Trade Centre (ITC) in collaboration with the Organisation of African, Caribbean and Pacific States (OACPS) under the organization’s Alliances for Action framework, the training was co-hosted by the Belmont Foundation as part of a wider regional push to build more sustainable, inclusive cocoa value chains across the Caribbean. The broader initiative prioritizes enhanced product quality, value addition, expanded market access, greater sector resilience, and new investment opportunities for smallholder producers and local agribusinesses alike.

    William Castro Rodriguez, ITC’s Programme Lead, emphasized that the training embodies the organization’s core approach to sustainable value chain development: centering people, cross-sector partnerships, and practical, actionable knowledge. “Through our Alliances for Action approach, we are investing in people, partnerships, and practical knowledge that strengthen every stage of the cocoa value chain,” Rodriguez explained. “Improving post-harvest quality not only enhances competitiveness and market opportunities, but also helps create more sustainable livelihoods for farming communities and a stronger future for the Caribbean cocoa sector.”

    Unlike traditional lecture-only training events, the Grenada programme blended classroom-based theoretical instruction with on-site field demonstrations and hands-on practical exercises, covering every critical stage of cocoa production and post-harvest handling. Attendees gained actionable skills in agronomic best practices, field and crop management, sustainable harvesting methods, fermentation process control, proper drying techniques, moisture regulation, quality grading and assessment, supply chain traceability, farm and business record keeping, and global quality assurance standards. The integrated curriculum was crafted to ensure that technical mastery extends from on-farm cultivation through post-harvest processing, guaranteeing that Grenada’s signature fine-flavour cocoa continues to meet the strict quality standards demanded by international premium markets.

    Participants represented a broad cross-section of Grenada’s cocoa ecosystem, including technical staff from the Ministry of Agriculture, leadership from the Grenada Cocoa Association, representatives from major local chocolate manufacturers including Jouvay Chocolate, Tri Island Chocolate, Grenada Chocolate Company, Grenada Limited Edition Chocolate and Taste D Spice, independent smallholder cocoa farmers, and local cocoa processors. Over the three-day event, attendees actively contributed to group discussions, collaborated on practical exercises, and shared decades of on-the-ground experience, fostering a collaborative environment of mutual learning. Their consistent engagement, thoughtful line of questioning, and openness to adopting updated industry practices reflected a shared national commitment to elevating the Grenadian cocoa sector through continuous improvement and technical excellence.

    Leading the training facilitation was Sarah Bharath, a veteran cocoa specialist with over two decades of experience working across the Caribbean in cocoa research, post-harvest quality improvement, and farmer capacity building. Bharath delivered each session with remarkable energy, framing complex technical concepts in an accessible, dynamic, highly interactive format that encouraged open dialogue, hands-on skill development, and active participation from every attendee. Following the conclusion of the programme, Bharath praised the high level of engagement from participants. “The level of engagement throughout the programme was exceptional,” she noted. “Producing outstanding cocoa requires consistently applying best practices from the field through post-harvest handling, and it has been encouraging to see the enthusiasm of participants to learn, ask questions, and embrace practices that will continue to strengthen Grenada’s cocoa industry.”

    Grenada’s Ministry of Agriculture also voiced strong support for the initiative, highlighting the long-term value of the training for the entire national sector. Marcia Lord, Extension Officer for the Northern District, explained that the upskilling gained through the programme will directly strengthen the capacity of local producers. “The knowledge gained will strengthen the capacity of our farmers, extension officers, cocoa producers, and processors, helping us consistently produce high-quality cocoa while further enhancing Grenada’s reputation for excellence,” Lord said.

    The event also reinforced a core takeaway for the sector: sustained growth requires ongoing collaboration across all stakeholders, from smallholder farmers and private processors to government agencies, research institutions, financial service providers, and international development partners. As global consumer and buyer demand continues to shift toward higher quality, fully traceable, sustainably produced, value-added cocoa products, consistent investment in technical knowledge and industry innovation will be critical to protecting Grenada’s standing as a leading global producer of premium fine-flavour cocoa.

    Shadel Nyack Compton, Managing Director of Belmont Estate, underscored what the training means for Grenada’s future as a premium cocoa producer. “Grenada has earned an international reputation for producing exceptional fine-flavour cocoa. Preserving that reputation requires excellence from the farm through every stage of post-harvest handling and processing,” Compton said. “By continuing to invest in our people, strengthening technical capacity, and embracing sustainable practices, we can build a resilient cocoa industry that creates opportunities for farmers, entrepreneurs, and future generations while reinforcing Grenada’s position as a global leader in premium fine-flavour cocoa. Deepest thanks to the European Union, the International Trade Centre and all strategic partners for making this opportunity available for Grenada.”

    The programme concluded with a formal certificate presentation, where all participants received Certificates of Participation in recognition of their commitment to continuous learning and excellence across cocoa production and post-harvest management. As Grenada works to expand its global footprint as a producer of world-class fine-flavour cocoa, initiatives like this training highlight the transformative power of cross-sector collaboration, open knowledge sharing, and strategic investment in people. Together, these aligned efforts will help ensure that Grenada’s cocoa sector remains resilient, sustainable, and globally competitive for generations to come.