分类: business

  • Seprod sells International Biscuits for $1.71 billion

    Seprod sells International Biscuits for $1.71 billion

    Jamaican manufacturing and distribution conglomerate Seprod Limited has reported a near 100% jump in first-quarter net profit, a surge driven almost entirely by a one-time gain from the strategic divestment of its subsidiary International Biscuits Limited (IBL), even as slowing consumer demand across Jamaica and Trinidad & Tobago dragged down core operating results for multiple group businesses.

    Completed on February 28, the IBL sale forms a core part of Seprod’s long-term strategy to cut group-level debt and streamline its asset portfolio to align with future growth priorities. According to the firm’s first-quarter cash flow disclosures, the disposal generated a net cash inflow of $1.71 billion for the company.

    In its official Q1 report, Seprod framed the divestment as a deliberate strategic move, noting that offloading IBL allowed the group to refocus its resources on core priorities aligned with long-term value creation. Accounting records show the firm logged a $20.62 million loss from discontinued IBL operations for the quarter, paired with a $921.86 million gain on the disposal of the subsidiary. Based on IBL’s reported net assets of $913.96 million as of December 2024, the purchase price from the buyer worked out to roughly $784.20 million above IBL’s net asset valuation.

    For the three-month period ending March 31, Seprod posted a consolidated net profit of $1.65 billion, marking a 95% increase from the $849.92 million recorded in the same period last year. However, the impressive headline growth masks underlying weakness in core operations: excluding the $921.86 million one-time disposal gain, consolidated net profit would have come in at just $730.83 million, down from the prior year’s baseline.

    Overall group revenue slipped 3% year-over-year to $36.42 billion, a decline that Seprod attributes in large part to ongoing disruption to the HORECA (hotels, restaurants, cafés, and catering) channel in the wake of Hurricane Melissa. The downturn is even more pronounced at AS Bryden & Sons Holdings Limited (ASBH), Seprod’s 80% controlled subsidiary, which saw a 6% drop in consolidated revenue to US$141.19 million (equal to $22.13 billion). ASBH’s net profit plummeted from US$3.23 million in the prior-year quarter to just US$67,000 in the latest period.

    Much of ASBH’s profitability decline stems from performance issues at Caribbean Producers (Jamaica) Limited (CPJ), its 79.99% owned subsidiary. CPJ’s revenue fell 28% to US$33.13 million in the quarter, swinging from a prior-year net profit of US$1.81 million to a net loss of US$1.17 million this quarter.

    In its own Q1 report, ASBH outlined a mix of external and internal headwinds driving the weak results: higher alcohol duties in Trinidad & Tobago, softening consumer demand across key product categories, persistent disruptions to Jamaica’s hospitality and tourism sectors following Hurricane Melissa, and elevated overhead costs tied to the group’s ongoing regional expansion and integration projects. The soft operating performance across multiple business units comes as Seprod continues its push to streamline its portfolio, cut debt, and boost efficiency against a backdrop of broadly slowing consumer demand across the Caribbean region.

    Despite the widespread operating headwinds, Seprod’s leadership struck an optimistic tone about the firm’s long-term trajectory, noting that cost containment efforts have so far kept expense growth in check. The group’s gross profit margin dipped only marginally, from 26.73% to 26.64%, even in the face of higher input costs and lower top-line revenue. Overall operating expenses rose just 1% ($90 million) in the quarter, a figure Seprod says reflects active management efforts to control unnecessary spending. Net profit attributable to Seprod shareholders jumped from $548.40 million in the prior-year quarter to $1.67 billion in the latest period.

    Signed by Chairman Paul B Scott and Chief Executive Officer Richard Pandohie, the Q1 report reaffirmed the group’s core strategic priorities: “We remain focused on margin resilience, cash generation, cost optimisation, disciplined growth, and improving return on equity (ROE). These initiatives are foundational to building a more efficient, integrated, and performance-driven organisation.”

    Over the quarter, Seprod’s total consolidated asset base contracted 5% to $137.44 billion, with current assets totaling $75.15 billion. The firm purchased 5.29 million ASBH 6.00 preference shares for US$5.29 million ($812.81 million) during the period, after existing shareholders Ambergate Limited and Fairchild Limited cut their positions in the subsidiary.

    Total group liabilities fell 9% to $86.78 billion, driven by reductions in accounts payable and the current portion of long-term debt, with total consolidated equity coming in at $50.66 billion, $39.94 billion of which is attributable to shareholders. Seprod’s full audited 2025 financial statements are currently delayed, as ASBH has not yet completed its own audited disclosures; ASBH has indicated it expects to submit its completed financials by May 31.

    As of Monday’s market close, Seprod’s share price stood at $82.43, leaving the stock down 2% year-to-date in 2026 with a total market capitalisation of $75.09 billion. The firm has also declared a $0.605 per share dividend, totaling $551.12 million, which will be paid out on June 5 to shareholders recorded on the company’s books as of May 15. While the per-share dividend matches the 2025 payout, the total payment is larger than last year’s $443.80 million, a change driven by a July 2025 share swap that increased Seprod’s stake in ASBH to 80% after the firm issued 177,398,683 new ordinary shares.

  • Banco BHD reports RD$200 million internal fraud, says customer funds are safe

    Banco BHD reports RD$200 million internal fraud, says customer funds are safe

    A major Dominican financial institution has moved swiftly to contain fallout from a high-value internal fraud scheme, after uncovering unauthorized lending operations worth more than 200 million Dominican pesos (approximately $3.5 million). Banco BHD, one of the country’s leading banking groups, has publicly commended the Dominican Public Prosecutor’s Office and National Police for their rapid, professional response to the incident, which unfolded through a multi-stage investigation starting earlier this year.

    The illicit activity was first detected during a routine internal compliance review launched by the bank in March, according to official statements from the institution. The probe quickly traced the irregular transactions to a current employee, who investigators allege engineered a scheme to create fraudulent credit lines for external third parties. In exchange for processing these unauthorized loans, the employee is accused of receiving personal financial kickbacks. Following the confirmation of wrongdoing, Banco BHD immediately dismissed the employee from their position and moved forward with formal prosecution referral. Multiple external parties that allegedly received the misappropriated funds are also currently the subject of active investigation by law enforcement.

    In April 2026, Banco BHD submitted a formal criminal complaint to the Financial Crimes Investigation Unit of the National District Prosecutor’s Office, officially opening the public legal process. Consistent with regulatory requirements, bank leadership also notified the Superintendency of Banks of the Dominican Republic, the country’s top banking regulator, immediately after discovering the fraud, and has committed to full ongoing cooperation with all government authorities involved in the case.

    In a public statement reassuring stakeholders and customers, Banco BHD emphasized that all financial losses stemming from the scheme have been fully absorbed by the bank’s internal reserves. Institution representatives noted that the total loss amounts to only a minimal share of the bank’s annual net earnings, and stressed that no customer deposits or held funds have been impacted by the fraud. The bank reaffirmed its longstanding zero-tolerance policy for any form of unethical or fraudulent conduct within its operations, and restated its core commitment to maintaining full transparency, strict accountability, and the highest possible standards of corporate governance for all its activities across the Dominican Republic.

  • JetBlue to suspend Newark flights to the Dominican Republic starting July 8

    JetBlue to suspend Newark flights to the Dominican Republic starting July 8

    Low-cost U.S. carrier JetBlue Airways has made a strategic announcement that will reshape its trans-Caribbean route network: starting July 8, 2026, the airline will permanently suspend nonstop services connecting Newark Liberty International Airport to two major Dominican Republic gateways, Las Américas International Airport near the capital Santo Domingo, and Punta Cana International Airport, the country’s top tourist hub. The company cited persistently low profitability on both routes as the core driver behind the decision.

    This route cut is not an isolated adjustment, but rather a key piece of JetBlue’s broader company-wide network restructuring initiative. The overarching goal of this overhaul is to boost overall operational efficiency and reallocate limited resources to high-demand markets that promise stronger long-term financial returns. Contrary to common assumptions that weak travel demand drags down route performance, JetBlue confirmed that both Newark-Dominican Republic routes maintained solid passenger occupancy even as they failed to hit the carrier’s financial targets.

    Industry analysis sheds light on the counterintuitive performance gap: over the most recent 12-month period, the Newark-Punta Cana route alone posted an average load factor of nearly 87%, a figure that actually outpaces JetBlue’s average load factor across its entire global network. This data points to underlying structural pressures rather than low traveler interest as the main causes of poor profitability. Industry observers highlight that steep airport operating costs at Newark Liberty International Airport, combined with cutthroat competitive pressure on routes to popular Caribbean leisure destinations, have eroded margin far more than the airline initially projected.

    JetBlue added that the decision also aligns with ongoing adjustments to address two ongoing industry-wide challenges: persistent aircraft fleet constraints that limit the carrier’s ability to expand or sustain underperforming routes, and broadly elevated operating expenses across major U.S. airport hubs. In an internal memo shared with staff, the airline emphasized that multiple routes operating out of Newark have failed to deliver the level of financial performance required to justify retaining them in the network, framing the adjustment as a necessary step to strengthen the company’s overall financial position going forward.

  • Saint Lucia to focus on people empowerment on HR Day

    Saint Lucia to focus on people empowerment on HR Day

    Across the globe, human resources professionals form the invisible backbone of resilient, high-performing organizations — and this year, the Association of Human Resource Management Professionals in Saint Lucia (AHRMP) is stepping up to honor their work alongside the international HR community for International HR Day, taking place Wednesday, May 20.

    A yearly global observance, International HR Day was created to shine a spotlight on the critical contributions HR teams make to building workplaces that are productive, resilient, and centered on the needs of employees. Beyond celebrating individual practitioners, the day also spotlights the shifting strategic role of the profession, which has grown from a back-office support function to a core driver of organizational adaptation and long-term growth amid today’s fast-changing business landscape.

    This year’s global theme, “Empower People to Lead Change”, frames the conversation around a core imperative: organizations and their leaders have a responsibility to cultivate work environments where every team member has the tools, support, and encouragement to drive meaningful organizational transformation. The theme prioritizes four key pillars for navigating today’s complex modern workplaces: adaptability, inclusive leadership, employee empowerment, and intentional people-centric practices.

    To mark the 2026 observance, AHRMP is organizing an interactive virtual open to professionals across Saint Lucia and beyond. Aligning with the global theme, the local event carries the subtitle “Empowering People to Lead Change: The HR Imperative in Today’s Workplace.” The webinar is scheduled to run from 12:30 p.m. to 2:00 p.m. local time on May 20, and will bring together a cross-section of stakeholders: practicing HR professionals, C-suite and business leaders, organizational development specialists, and emerging young professionals entering the field.

    During the session, attendees will join in guided discussion exploring core topics including modern leadership strategies, ongoing workplace transformation, the rapidly evolving role of HR in 21st-century organizations, and the diversity and growing strategic value of the HR profession.

    For AHRMP, International HR Day is more than a celebration — it is a critical opportunity to strengthen national conversations around pressing workplace topics: adaptive leadership, healthy organizational culture, workforce readiness for future challenges, and sustainable people practices that drive long-term success.

    AHRMP President Goretti Paul recently shared her perspective on the growing importance of the HR function in today’s volatile business climate, emphasizing that people are the foundation of any successful organization. “Organisations cannot successfully navigate change, build resilience, or sustain growth without placing people at the centre of their strategy,” Paul explained. “HR is no longer operating at the sidelines of business decision-making; it is increasingly at the core of how organisations adapt, lead, and remain future-ready.”

    AHRMP has extended an open invitation to a broad range of stakeholders to participate in the upcoming webinar, including practicing HR professionals, team managers, business leaders, human resources students, and any members of the wider professional community interested in exploring the future of work, leadership development, and people strategy. Pre-registration for the event is currently open to the public via the official AHRMP website at www.ahrmp-slu.org/hrday2026.

    Additional event details, including announcements of featured speakers and the full event agenda, will be published in the coming weeks via AHRMP’s official social media channels. For any questions or further information, interested parties can contact the AHRMP team directly by phone at 758-520-1671, via email at info@ahrmp-slu.org, or by visiting the association’s main website at www.ahrmp-slu.org.

  • Bramble urges diaspora to turn remittances into investment

    Bramble urges diaspora to turn remittances into investment

    Against the backdrop of persistent economic challenges, St. Vincent and the Grenadines (SVG) is calling for a fundamental transformation in its long-standing relationship with its global diaspora community. At a recent diaspora outreach gathering hosted by Invest SVG in Toronto, Foreign Affairs and Foreign Investment Minister Dwight Fitzgerald Bramble laid out a bold new vision: moving the relationship “from barrels to businesses” to unlock sustainable, long-term national development. For decades, support from Vincentians living abroad has centered on three core pillars: cash remittances, care packages shipped in barrels, and charitable giving. Bramble was quick to emphasize that this traditional support has been invaluable to SVG’s economy and communities, keeping households afloat, funding student educations, and underpinning local growth. But he argued that this model, while still critical for meeting immediate family needs, is no longer sufficient to lift SVG to the next stage of development.

    Bramble’s call echoed a core theme running through the entire Toronto event: the need to shift from short-term consumption-focused support to long-term productive investment that builds lasting generational wealth. Crucially, the government does not ask diaspora members to stop sending remittances or care packages. Instead, officials want to expand this engagement to complement existing support with investment, industry expertise and global business networks. “While remittances help our families meet immediate needs, we need to think about long‑term investment, which has the power to build lasting generational wealth,” Bramble told attendees.

    Addressing a common misconception held both at home and abroad, Bramble noted that many SVG residents still frame “foreign investment” exclusively as large-scale corporate projects, while many diaspora members underestimate the impact of their individual contributions. He pointed to the power of cumulative small- to mid-sized investments: if just 10 Vincentians based in Canada each invest CA$50,000 back home, the combined impact would already move the needle on national growth. Scaled up across the full diaspora spread across North America, Europe and Asia, that impact would be transformative for the small island nation.

    Under the current New Democratic Party government, this new approach to diaspora engagement has become official policy. Bramble stressed that SVG cannot tackle its deep-seated socioeconomic challenges alone; policymakers cannot restructure and redevelop the national economy in isolation. Instead, the diaspora must be repositioned from an occasional source of donations to a core strategic partner in national development. “At the centre of any approach to development is the recognition that the diaspora is not peripheral to development, but central to it,” Bramble said. “This is not about Prime Minister Godwin Friday, this is not about Bramble… this is about us, St. Vincent and the Grenadines.”

    Unlike remittances and care packages, which are largely used for immediate consumption, intentional investment creates tangible, lasting benefits for the SVG economy. Investments generate local jobs, build long-term national assets, and expand the country’s productive economic base. Most importantly, Bramble argued, investment creates opportunities that allow Vincentian families to stay and build their lives in their home country, rather than being forced to migrate abroad for economic opportunity.

    Bramble connected his “from barrels to businesses” framework to specific, high-priority investment gaps that government and agency officials outlined earlier in the meeting. Key sectors open for diaspora investment include tourism, agriculture, affordable housing, agro-processing, the blue economy, and creative industries. Specifically, SVG currently faces unmet demand for additional tourism accommodation — from boutique hotels and villas to short-term Airbnb rentals — as well as increased farm output and value-added processed goods. Bramble noted that these are ideal spaces for diaspora members to convert their traditional informal support into structured, profitable business ventures. For example, many of the diaspora members who currently ship care barrels to family at home could, with government support, transition to owning the productive facilities that create the goods that go into those barrels — instead of shipping items to SVG, they can help build local industries that export goods from SVG to global markets.

    Framing the shift as a redefinition of what it means to engage with home, Bramble told attendees: “Home is not just a place we remember; it is a place we build.” He encouraged every diaspora member to view their existing remittances and care packages as a potential first step toward business ownership and enterprise, urging them to turn their existing love and commitment to their home country into job-creating, wealth-building investment.

    To ensure this new approach is more than just rhetoric, Bramble confirmed that the government is strengthening its institutional framework to support diaspora investment. His ministry, the national investment promotion agency Invest SVG, and the upcoming reconfiguration of SVG’s consulate in Canada are all being aligned to streamline investment facilitation, reduce bureaucratic fragmentation, and improve efficiency for diaspora investors. Bramble, who framed himself as a results-driven leader, told the crowd that failure is not an option for this new initiative, and that a functional support structure is already in place for interested investors. He closed with a direct appeal to the global Vincentian diaspora: “St. Vincent and the Grenadines’ future is dependent on your total commitment to the development of our country. Work with us, please, because we want to work with you. Let’s do this together.”

  • Poultry group caught off guard, but backs expansion plan

    Poultry group caught off guard, but backs expansion plan

    Barbados’ leading poultry industry association has publicly acknowledged its surprise at a major local processor’s unannounced move to recruit small-scale poultry producers directly, even as the group reaffirms its commitment to working alongside the firm to boost domestic production and shore up national food security.

    The Barbados Egg and Poultry Producers Association (BEPPA) says it stands ready to partner with Amir’s Chicken/Fasons Foods, despite being caught off guard by the company’s weekend launch of an independent outreach and support program for small farmers. BEPPA President Stephen Layne shared that he felt “a little bit shocked” and disappointed that Fasons Foods — a registered member of both BEPPA and the Barbados Agricultural Society (BAS) — chose to bypass the industry body to roll out the initiative on its own.

    Layne was quick to emphasize, however, that there is no bad blood between the association and the processor, and that BEPPA welcomes any effort that lifts the local poultry sector and advances national food security goals. Rumors of Fasons Foods’ direct recruitment campaign had been circulating among BEPPA members for some time, Layne explained, which he initially dismissed until the company officially confirmed the initiative over the weekend.

    “I was just a little bit taken aback and surprised about the news breaking,” Layne said in an interview. “As a member of the association, I thought it would have been better if we had that discussion in advance … so we could speak with one voice.” He added that prior consultation would have allowed the association to connect Fasons Foods with small farmers who actually have the capacity to scale up production, noting that many of the producers already approached by Amir’s Chicken are already operating at full capacity with pre-existing committed market access.

    Laye made clear that BEPPA has no intention of entering into a public dispute with the processor. “Amir is seeing an opportunity there and he wants to take it,” he said. “We are not in a real conflict here … anything that assists any organisation or company that can support our farmers is of benefit to us as well.”

    The BEPPA president has long been a vocal advocate for expanding opportunities for small-scale producers, whom he describes as the unsung backbone of Barbados’ domestic food supply chain. “In the recent past, when the bigger producers have failed, they [smaller farmers] were able to step in and supply the market for some of our larger supermarkets and restaurants,” he noted. Layne pointed out that integrated partnerships between processors and small-to-medium poultry producers — such as the long-running model used by Chickmont Foods Group, which works with growers raising between 5,000 and 10,000 birds — is already a proven, successful structure in Barbados, and he expressed optimism that a similarly fair and structured arrangement can be worked out with Fasons Foods to ensure no small producer is left disadvantaged.

    This development comes at a uniquely challenging juncture for Barbados’ poultry sector, which is currently preparing to confront the severe impacts of seasonal extreme weather. In response to heat-related concerns raised by Amir’s Chicken, Layne confirmed that BEPPA is already rolling out targeted technical support for producers across the island. To combat dangerous heat stress that drives up bird mortality, the association has partnered with a local paint manufacturer to apply specialized heat-reflective coatings to poultry house roofs. BEPPA is also collaborating with major feed suppliers, including Pinnacle Feeds — a subsidiary of Roberts Manufacturing — to host free educational seminars for small farmers focused on managing avian disease, securing reliable potable water supplies, and protecting profitability amid global feed price inflation.

    Looking forward, Layne has called for formal, structured talks with Fasons Foods leadership to build a collaborative framework and guide orderly market expansion that benefits all stakeholders. “I believe there is still room for us to have that conversation,” he said. “I remain optimistic that we can proceed along those lines … and put the island in a position where we have security of poultry meat as well as eggs.”

    The Barbados Agricultural Society (BAS) has also welcomed Fasons Foods’ new initiative, with chief executive James Paul noting that contract farming models are not a new development in Barbados’ agricultural sector. Paul pointed out that long-established major processors including Star Poultry and Gale’s Agro Products have relied on similar small-farmer contract models for decades, and current operators like Maroon Poultry continue to use the framework today.

    “What we are seeing is growth in the number of processors who want to use this model,” Paul said. “That is a good thing for the sector, and we would encourage smaller farmers to get on board.”

    Paul offered a candid, balanced assessment of the inherent dynamics of contract farming, noting that power imbalances can sometimes emerge between independent small growers and large processing companies. He highlighted the persistent logistical and marketing barriers that hold back many small-scale poultry farmers, particularly those operating flocks between 1,000 and 15,000 birds, who rarely have access to established, reliable distribution networks.

    “The challenge is that when those birds are ready, there must be somebody there to take them,” Paul explained. “Certainly, somebody like Fasons Foods who is prepared to provide that service for farmers in terms of marketing the birds — that is good.” He added that transparent, fair final pricing, especially the farm-gate rate guaranteed to participating growers, will be the most critical factor in determining the long-term success of these partnership models.

    Paul noted that Fasons Foods’ move could help ease ongoing anxiety within Barbados’ small farming community, where recent expansion of large-scale commercial chicken operations had sparked fears that independent small producers would be squeezed out of the market. When multiple major processors including Fasons Foods and Chickmont Foods commit to purchasing birds from small-scale producers, it creates a critical safety net that allows farmers who have invested in their own production infrastructure to maintain stable, consistent output, he said.

    “With the expansion and growth in the industry that we are likely to see, you would expect that growth is facilitated by processors … giving opportunities for small farmers who have invested in these chicken pens,” Paul added.

  • Barbados urged to become creator of global tech solutions

    Barbados urged to become creator of global tech solutions

    At the BMA’s annual State of the Industry conference, Barbados’ Minister of Industry Senator Jonathan Reid has issued a stark call to action, urging the small island nation to capitalize on a rapidly closing window of opportunity to reorient its economy away from dependence on imported technologies and toward building homegrown, globally competitive digital and AI-powered solutions.

    Opening his address, Reid drew a clear line between his appearance at the conference and typical political events, noting he was eager to engage directly with the business community of practitioners who turn abstract ideas into tangible, on-the-ground results. Too often, he observed, policy discussions remain disconnected from real-world execution, but the conference attendees represented a network committed to bridging that gap between concept and impact. “We are standing at a unique historical juncture,” Reid told the audience. “More than ever before, we need to focus on turning bold ideas into market-ready products and solutions tailored to the demands of the new global economy.”

    Reid pushed back against the long-held narrative that small island developing states are inherently constrained by their size, limited domestic populations, and small market footprints — limitations that have long shaped regional economic planning. The explosive growth of accessible digital tools and artificial intelligence, he argued, has fundamentally leveled the global playing field for small nations in a way never seen before.

    “For the first time in human history, the most advanced technologies ever developed are literally in the pockets of nearly every one of our citizens,” Reid said, pointing to widely accessible generative AI platforms such as ChatGPT and Claude as examples of this new accessibility. “Generative AI puts a rocket ship of innovation in the hands of anyone with a smartphone. It lets small nations build solutions at a scale, speed, and quality that were unimaginable just a decade ago.”

    Reid contrasted this current era of digital democratization with past industrial revolutions, where cutting-edge technologies such as aviation and mass manufacturing were out of reach for small territories, leaving them trapped in the role of passive technology consumers that could only produce lower-quality imitations of products developed in larger, wealthier nations. Today, that dynamic has been completely upended.

    “A young innovator growing up in Grazettes or Crab Hill now has the exact same access to these transformative tools as a young creator in Singapore, San Francisco, or Toronto,” Reid noted. “That level of equal access is unprecedented for our country, and it changes everything.”

    While Reid expressed deep optimism about the transformative potential of AI and digital innovation for Barbados, he did not shy away from his central concern: that the accelerating pace of global technological advancement means the window for Barbados to claim its place as an innovator is closing quickly. If the nation delays strategic action, he warned, the gap between Barbados and early-adopting countries will widen, making catch-up nearly impossible.

    To capture this opportunity, Reid called for a fundamental rethink of Barbados’ core economic philosophy. Traditional economic frameworks are built around managing scarcity, but modern digital technology has created a new reality defined by abundant information and capability. Navigating this new landscape, he argued, requires deliberate, strategic decision-making tailored to Barbados’ unique context, rather than relying on outdated economic models.

    Drawing on the work of Nobel Prize-winning economist Paul Romer’s theory of endogenous growth, Reid urged Barbados to leverage its own distinct domestic assets to carve out a role in global markets, rather than merely reacting to external economic shocks. He also referenced venture capitalist Mark Andreessen’s post-pandemic manifesto *It’s Time to Build*, warning against a complacent “warehousing” mentality that prioritizes replicating existing foreign technologies over nurturing original, homegrown innovation.

    Reid highlighted several pressing domestic challenges — including rising rates of non-communicable diseases, the urgent need for climate resilience, and improving small-scale local mobility — as untapped opportunities to develop scalable solutions that can be exported globally. He pointed to early progress already underway: Barbadian food manufacturers are already advancing cutting-edge work in food science and nutrition, while local logistics firms are innovating new approaches to supply chain optimization amid ongoing global disruptions.

    Reid emphasized that Barbados’ longstanding commitment to people-centered development puts the nation in a unique position to lead responsible AI experimentation. “Our approach to AI will always be rooted in advancing quality of life for our people, and that model can be a lesson for the rest of the world,” he said. “There is no reason for our productive or industrial sectors to fear this transformation. The government will walk alongside every stakeholder to make this transition smooth.”

    The minister also announced a shift in how his government department will engage with the private sector: moving beyond a purely regulatory role to become an active, value-creating partner for innovators and builders. “Our goal is to become creators of the new,” Reid said. “Being a small nation does not bar us from building world-class technologies and sharing them with the globe. It simply means we have to be strategic, focused, and urgent in how we pursue this transformation.”

  • Manufacturing driving resilience and innovation, says BMA president

    Manufacturing driving resilience and innovation, says BMA president

    Against a backdrop of persistent global economic headwinds, Barbados’ manufacturing industry is emerging as a core engine of national resilience, creative innovation and economic diversification, according to Rakesh Bernard, president of the Barbados Manufacturers Association (BMA). Bernard made the remarks Monday during the opening ceremony of the annual Manufacturers’ Week, where he positioned domestic manufacturing as a cornerstone of the island nation’s long-term economic future and officially kicked off preparations for a landmark international trade initiative set for 2027.

    The high-profile opening event drew a roster of top government and trade stakeholders, including Prime Minister Mia Mottley, Industry, Innovation, Science and Technology Minister Jonathan Reid, and Mark Hill, CEO of Export Barbados. In his keynote address to the assembled group, Bernard underscored that local manufacturing delivers far-reaching, irreplaceable value to Barbados’ national economy and social fabric.

    “This occasion is far more than just another entry on the national business calendar,” Bernard told attendees. “It is a celebration of an industry that remains the backbone of Barbados’ economic resilience, innovative capacity, and sustained growth. Manufacturing matters because every good made right here on our island is a testament to Barbadian ingenuity: it creates stable local jobs, nurtures critical industry skills, draws new domestic and foreign investment, and sharpens our global competitive edge.”

    Bernard did not shy away from acknowledging the widespread challenges currently buffeting businesses across the globe, from persistent economic uncertainty to soaring operational costs and ongoing supply chain disruptions. But he emphasized that Barbados’ domestic manufacturing operators have demonstrated extraordinary grit and adaptability in the face of these pressures.

    “Even amid widespread global uncertainty, rising input costs, and broken supply chains, Barbados’ manufacturers have kept pushing forward: innovating, adapting their operations, and contributing meaningfully to ongoing national development,” he said. He framed the week-long Manufacturers’ Week series as both a celebration of the sector’s achievements and a clear statement that Barbados is fully committed to expanding its domestic productive capacity for long-term growth.

    A core focus of Bernard’s address was the critical need for aligned cooperation between the public and private sectors to drive sector-wide growth. He pointed out that the key modernization priorities shaping Barbados’ manufacturing industry today—including digital transformation, strengthened national food security, expanded renewable energy adoption, and broader sustainable business practices—align directly with the Mia Mottley administration’s overarching national economic goals.

    “Meaningful national transformation can only happen when policy and production, investment and innovation, government and industry all move in the same direction,” Bernard explained. “The work underway across our manufacturing sector today aligns perfectly with the vision laid out in Mission Barbados, which seeks to build a smarter, greener, more economically resilient and inclusive national economy. Manufacturers sit at the heart of this mission because we turn ideas into tangible solutions, transform concepts into market-ready products, and create widespread economic opportunity for Barbadians across the country.”

    During the event, attendees had the chance to explore industry exhibits including a showcase from leading local operator Roberts Manufacturing at the BMA’s annual State of the Industry Conference. It was on this same platform that Bernard formally launched the multi-year planning process for the 2027 Trade and Innovation Expo (TI 2027). Acknowledging members of the international diplomatic corps in attendance, Bernard positioned the upcoming expo as a transformative step forward for regional and international business collaboration centered on Barbados.

    “TI 2027 will be far more than a traditional product exhibition,” Bernard noted. “It will be a dynamic, forward-looking platform for cross-border trade, new investment partnerships, technology sharing, and expanded collaboration between regional and international business stakeholders.” He extended an open invitation to global business and government partners to begin building stronger connections in entrepreneurship and technology ahead of the 2027 showcase.

    Closing his address, Bernard issued a rallying cry for accelerated economic diversification across Barbados, urging all national stakeholders to look beyond the nation’s traditional economic pillars and offer robust support to homegrown domestic enterprise. “Barbados’ future cannot be tied to a single industry alone,” he declared. “It must be built on a foundation of diversification, innovation, domestic production, and strategic global engagement. Manufacturing has a non-negotiable, critical role to play in that future. And the time is now to invest boldly in local industry, local talent, and local innovation.”

  • DAIC elects new board as business community urged to focus on opportunities linked to international airport

    DAIC elects new board as business community urged to focus on opportunities linked to international airport

    Dominica’s leading private sector trade body, the Dominica Association of Industry and Commerce (DAIC), has installed a new executive leadership team following its 2026 Annual General Meeting, held Thursday, May 14 at the Prevo Cinemall Ballroom in the capital city of Roseau. The event brought together a broad cross-section of attendees, ranging from DAIC member business owners and key industry stakeholders to event sponsors and specially invited government and community guests.

    The gathering opened with a public open forum centered on the timely theme “Beyond the Runway: Unlocking Private Sector Growth Through Dominica’s International Airport” — a discussion focused on how local businesses can capitalize on the transformational infrastructure project currently under construction.

    Samuel Johnson, Chief Executive Officer of the International Airport Development Company, served as the keynote speaker for the forum, where he outlined the far-reaching economic benefits the completed airport is projected to deliver to Dominica once it opens by the end of 2027. Johnson highlighted that the new international gateway will unlock expanded growth opportunities across a wide swath of the national economy, including tourism, cargo shipping and logistics, domestic agro-processing, small and medium enterprise development, and widespread job creation. He emphasized that the window for private sector preparation is open now, urging local businesses to begin strategic positioning long before the airport welcomes its first commercial flight, rather than holding off until construction wraps up. Early preparation, he noted, will allow private companies to capture the full range of new market opportunities that will become available once the facility is operational.

    Following the conclusion of the public forum, DAIC members moved into a closed, restricted session of the Annual General Meeting to conduct the formal election of a new Board of Directors and executive leadership team.

    In his outgoing address to assembled members, departing DAIC President Brenton Hilaire reinforced the core message of the forum: the international airport is far more than a public sector infrastructure project. It represents a transformative economic opening for Dominica’s private sector, one that requires intentional investment, proactive planning, cross-sector partnerships, and advance preparation from local businesses to deliver maximum benefit. Hilaire also called for deeper, more constructive dialogue between the DAIC and the Government of Dominica, encouraging member businesses to engage actively in national development conversations centered on innovation, collaborative growth, and broad-based economic progress.

    Newly elected DAIC President Olive Strachan took over the leadership role following the election, opening her tenure by thanking members for the confidence they placed in her to lead the organization. She also paid public tribute to Hilaire’s leadership, crediting him with steering the association through a prolonged period of unprecedented economic challenge.

    Strachan told members that effective organizational leadership is not defined by a formal title, but rooted in centering the needs of members, building trust, maintaining consistent action, and delivering dedicated service. Under her leadership, she said, DAIC will continue prioritizing the strengthening of cross-sector partnerships, working to build a more robust and resilient private sector, and ensuring that the priorities and concerns of DAIC members are consistently represented to policymakers and other key stakeholders. She closed by pledging to lead the association with radical transparency, unwavering integrity, and a focus on tangible action, committing to work closely with the newly seated Board of Directors to boost member engagement and tackle the everyday operational challenges that face businesses across Dominica.

  • CTO to launch scholarship for emerging Caribbean women in tourism during Caribbean Week 2026

    CTO to launch scholarship for emerging Caribbean women in tourism during Caribbean Week 2026

    The Caribbean’s $50 billion tourism industry, the region’s largest economic driver, is taking a major step forward to close the gender gap in sector leadership with a new targeted scholarship initiative announced by the Caribbean Tourism Organization (CTO).

    Dubbed “From Her to Her: From Today’s Female Leaders to Tomorrow’s Tourism Stars,” the annual program will provide direct financial support to outstanding young Caribbean women pursuing higher education and careers in tourism. The initiative will be formally launched on June 1 at the Caribbean Women in Tourism Leadership Dinner & Awards, a flagship event held as part of 2026 Caribbean Week in New York, hosted at the InterContinental New York Times Square.

    All proceeds raised from the June 1 ceremony will be contributed to the CTO Foundation, which will manage the long-term operations and disbursement of the scholarship. Beyond the scholarship launch, the evening will also celebrate the contributions of trailblazing women across Caribbean tourism, honoring sitting tourism ministers, national tourism directors, recipients of the CTO Secretary-General’s Distinguished Service Award, and new inductees into the sector’s Women in Tourism Hall of Fame, which recognizes extraordinary leadership in the field.

    For Dona Regis-Prosper, the first woman to hold the post of CTO Secretary-General, the scholarship is both a professional commitment and a deeply personal mission. “Fostering clear pathways for women to advance into leadership roles across tourism is core to our work as an organization,” she explained in an official statement. “This scholarship isn’t just about financial aid—it’s about building a legacy of mentorship, passing the torch from current leaders to the next generation that will shape the future of our region’s most critical industry.”

    Jacqueline Johnson, chair of the CTO Foundation, echoed this enthusiasm, noting that the program aligns perfectly with the foundation’s core mission of investing in sustainable tourism development through human capital. The initiative has already secured early backing from key private sector partners, including cruise line Virgin Voyages, luxury retailer Diamonds International, and sustainable brand TRÈFLE, with the Antigua and Barbuda Tourism Authority stepping forward as the official sponsor of the launch dinner.

    Organizers emphasize that the scholarship is far more than an isolated program—it reflects a growing regional movement to advance gender equity and expand inclusive leadership opportunities across the Caribbean tourism sector. This year’s Caribbean Week in New York, a major annual gathering that brings together regional tourism stakeholders, industry partners, and global buyers to promote Caribbean travel, draws support from a broad network of sponsors across multiple tiers. Top Platinum Elite sponsorship comes from the United States Virgin Islands, while Gold Elite backing is provided by Antigua & Barbuda and the British Virgin Islands. Additional gold support comes from The Bahamas and St. Kitts, with silver sponsorship from industry leaders including Sandals Resorts, Global Ports Holding, and SITA. A range of bronze and contributing sponsors, including Barbados Tourism Marketing Inc., Sojern, Expedia Group, Royal Caribbean, and the Inter-American Development Bank, also support the full week of programming, which includes the Regional Nex-Gen Tourism Showcase.

    Anyone interested in attending the Caribbean Women in Tourism Leadership Dinner & Awards or learning more about the new scholarship can find full details at the official registration portal: https://forms.gle/m5cmQBVaT5hir2sp7. More information about the full schedule of 2026 Caribbean Week in New York is available on the event’s official website: caribbeanweek.onecaribbean.org.