分类： business

Trinidad and Tobago’s recent alcohol duty increases have unexpectedly created a competitive advantage for the nation’s artisanal wine producers, transforming economic challenges into opportunities for growth. The substantial tax hikes implemented in October 2025—which doubled excise duties on spirits from $79.25 to $158.50 per litre of pure alcohol—have dramatically elevated prices of commercial liquors, effectively leveling the pricing field for small-batch local producers.

This fiscal shift has catalyzed a notable consumer migration toward locally crafted wines, as reported by several family-run enterprises. Jabari Mayers of Wine and Whimsy observed that previously hesitant customers are now embracing local products: “The price increases for shelf drinks are forcing even those not originally inclined to support local in that direction.” His wife Shantelle noted that their specialized production methods using wine yeast rather than conventional yeast previously positioned their products at premium prices, but the tax adjustments have narrowed this gap significantly.

The movement extends beyond mere price considerations. Jenissa Williams of Williams Wines identifies a cultural transformation: “People have developed a genuine appreciation for local wine across all age demographics. Younger consumers are increasingly participating in wine culture through tastings and sip-and-paint events.” Her business, sustained for over eleven years, utilizes indigenous fruits including sorrel, guava, passion fruit, and lay lay cherries, offering both full-size and sample-size bottles to accommodate consumer preferences.

Retail expansion is simultaneously accelerating. Sisters Lynissa and Lyndi Jordan of Aurora Bitayson Ltd reported unprecedented interest from chain-store retailers at the 2025 Trade and Investment Convention, necessitating production scale-ups to meet distributor demands. They attribute this growth to both market trends and institutional support through government-sponsored wine-making courses, with one virtual program attracting over 300 participants.

These enterprises represent more than commercial ventures—they embody cultural preservation. Williams traces her winemaking expertise to childhood observations of her great-grandmother’s techniques, while Aurora Bitayson honors their grandmother through eponymous branding while diversifying into fruit syrups, concentrates, and skincare products.

The industry’s vitality reflects broader global patterns. PriceWaterhouseCoopers’ 2025 Global Family Business Survey revealed that 25% of family enterprises achieved double-digit sales growth despite economic contractions, underscoring the resilience of purpose-driven, family-rooted businesses that leverage long-term investment strategies and community reputation.

Massy Group has announced exceptional financial performance for fiscal year 2025, achieving a record-breaking profit after tax of $766.3 million. The Trinidad-based conglomerate demonstrated robust growth with third-party revenue reaching $15.8 billion and net cash value climbing to $1.67 billion, signaling strong financial health across its diversified portfolio.

The 14% year-over-year profit increase from $674 million in 2024 reflects enhanced operational efficiency and strategic portfolio management. According to the December 18 financial disclosure, the company’s success stemmed from significant advancements across multiple sectors including retail, gas production, automotive machinery, and financial services.

Integrated retail emerged as the dominant revenue generator, contributing over $9 billion—a 4% increase from previous periods. The motors and machines division achieved $3.73 billion in revenue despite an 18% decline in pre-tax profits to $186 million. Notably, gas products demonstrated remarkable profitability with an 8% profit surge to $385 million, even as revenue decreased by 6% to $2.03 billion.

Shareholders benefited substantially from the company’s performance, with total dividends per share rising 5% to $17.70. Earnings per share jumped 9% to $36.49, representing a 9.8% earnings yield. The company’s share price appreciated by 5%, delivering investors a total return of 12.18%.

These financial milestones coincide with significant leadership changes as James McLetchie assumed the role of Group President and CEO on October 1, succeeding David Affonso after his three-decade tenure. The organization also welcomed Ivette Zuniga as Chief Financial Officer and Ryan Latchu as CEO of the motors and machines portfolio.

Chairman Robert Riley characterized 2025 as “a year of progress and renewal,” emphasizing the company’s investments in technology, innovation, and talent development. Despite these achievements, the Consumer Affairs Division’s December 18 supermarket price evaluation identified Massy as having some of the highest prices nationally, particularly in meat, fruits, and dry goods categories across over 40 assessed supermarkets.

The procurement profession stands at a pivotal crossroads, according to industry veteran John Dickson, who delivered a compelling keynote address at the Chartered Institute of Procurement and Supply’s (CIPS) Caribbean Conference and Awards 2025. Speaking before regional supply chain leaders at Port of Spain’s Hyatt Regency on December 10, Dickson argued that procurement must fundamentally transform from its traditional cost-cutting role into a strategic driver of organizational value, resilience, and competitive advantage.

Dickson employed a powerful iceberg analogy to illustrate how most organizations perceive procurement: “The one-ninth that a business sees is typically about cost reduction and cash generation,” he noted, emphasizing that the profession’s true depth and strategic importance remain largely submerged from executive view.

The conference, hailed as the Caribbean’s premier gathering of procurement specialists, convened professionals across government, energy, telecommunications, logistics, and finance sectors. Sessions explored cutting-edge topics including artificial intelligence implementation, data analytics applications, and supply chain risk management.

Drawing from four decades of industry experience, Dickson outlined procurement’s evolutionary trajectory: from 1990s cost control mechanisms through 2000s process efficiency reforms to 2010s digital transformation. The current era, he suggested, represents “true intelligent integration” powered by AI, automation, and machine learning technologies.

However, Dickson cautioned against technological determinism, stating: “Procurement needs to align intelligence with purpose. It’s not enough to say technology will do everything for us.” He challenged delegates to consider whether their function merely influences spending patterns or actually shapes business strategy at the highest levels.

His address resonated with broader regional concerns about supply chain vulnerabilities. Earlier panels had examined Caribbean-specific challenges including hurricane exposure, fuel price volatility, and global trade disruptions, proposing mitigation strategies such as redundancy planning and predictive analytics.

Dickson emphasized that procurement must evolve from reactive problem-solving to predictive scenario planning. While acknowledging that not all risks can be anticipated, he insisted the profession bears responsibility for organizational protection in increasingly volatile operating environments.

Highlighting his experience during AstraZeneca’s unprecedented eight-month COVID-19 vaccine development, Dickson demonstrated how crisis collaboration transcended traditional supplier negotiations. “That whole concept of having a common goal was critical for that ecosystem to come together,” he recalled, underscoring how shared purpose accelerated innovation.

This informed his perspective on sustainability, which he framed not as competitive advantage but as essential risk mitigation: “I do see sustainability as a competitive disadvantage if you don’t engage with it.” He advocated for collective action within industries sharing supplier networks.

Addressing emerging threats, Dickson highlighted cybersecurity as a critical procurement concern, referencing major attacks that have cost organizations hundreds of millions. He positioned procurement as central to resilience-building through supplier vetting, market analysis, and risk anticipation.

Despite technological advancements, Dickson firmly rejected the notion of human obsolescence: “Human-centric talent isn’t going away. It’s going to shift. It’s going to be different.” He encouraged leaders to embrace reverse mentorship from digitally-native junior colleagues.

Concluding with an agricultural metaphor, Dickson urged organizations to focus on foundational elements: “Looking after the soil. Cultivating the soil, look after your people. Care for your people. Know your people.” For a profession historically defined by savings metrics, he envisioned a future prioritizing strategic integration, purposeful collaboration, and the translation of intelligence into consequential business decisions.

In response to mounting challenges facing job seekers in today’s intensely competitive employment landscape, the Association of Chartered Certified Accountants (ACCA) has introduced an innovative digital solution. The newly launched ACCA Virtual Skills platform specifically targets Generation Z professionals and career entrants seeking to distinguish themselves during application and interview processes.

This comprehensive digital resource center provides ACCA members and affiliates with practical career preparation tools developed through professional expertise. Lindsay Degouve de Nunques, ACCA’s Director of Brand and Marketing, emphasized the organization’s commitment: ‘ACCA is dedicated to equipping our members and future members with the skills and knowledge essential for career success. This practical resource empowers new professionals to approach their futures with greater confidence.’

The platform addresses identified gaps in practical career guidance through two primary components. First, a series of on-demand interview preparation videos cover critical career topics including CV crafting, creating impactful first impressions, optimizing LinkedIn profiles, appropriate interview attire, navigating compensation discussions, and formulating strategic questions.

Second, visually engaging virtual flashcards distill key insights from ACCA’s research on artificial intelligence, technology, global economics, and sustainability. These downloadable resources serve as conversation starters during networking events and provide substantive talking points for interviews.

Developed in direct response to employer expectations regarding candidates’ soft skills, the platform has already garnered positive feedback from recruitment professionals. This initiative represents ACCA’s ongoing investment in future-oriented employment capabilities and complements the existing career support services offered through ACCA Careers, the organization’s specialized accounting and finance recruitment platform.

In a significant endorsement of financial stability, Caribbean insurance leader NAGICO Insurances has achieved a major milestone with its upgraded financial strength rating from global credit agency AM Best. The rating elevation from BBB+ to A- (Excellent) positions the insurer among the region’s most reliable providers.

The upgraded assessment reflects AM Best’s thorough evaluation of NAGICO’s reinforced balance sheet, sustained operational improvements, and rigorous risk management protocols. The rating agency specifically acknowledged the company’s successful implementation of long-term strategic initiatives across multiple Caribbean jurisdictions.

This enhancement carries profound implications for policyholders and regulatory bodies throughout the catastrophe-prone Caribbean region. The A- classification serves as an independent verification of NAGICO’s capacity to honor policy commitments despite exposure to natural disasters and economic fluctuations.

Chief Executive Officer Kyria Ali characterized the achievement as testament to the organization’s foundational principles. ‘This independent endorsement validates our financial discipline and operational excellence,’ Ali stated. ‘For our clients throughout the Caribbean and French territories, it reinforces their confidence in our commitment to protect their families and enterprises during critical moments.’

The AM Best rating system represents the global benchmark for insurance sector financial health assessments. An A- designation signifies exceptional balance sheet resilience, consistent performance improvement, prudent underwriting standards, and sustainable business modeling.

Executive Chairman Imran McSood Amjad emphasized the strategic significance within the Caribbean context. ‘Our region faces distinctive challenges ranging from climate volatility to economic disruptions,’ Amjad noted. ‘This upgrade demonstrates our deliberate enhancements to governance frameworks and risk mitigation strategies that strengthen our foundational stability.’

The accomplishment reflects collective efforts across NAGICO’s operational network, underscoring the group’s dedication to sustainable expansion and value delivery. Future initiatives will prioritize technological innovation for customer experience enhancement and development of region-specific insurance solutions.

Established in 1982, the NAGICO Group maintains 32 operational locations throughout the Caribbean and Metropolitan France, offering comprehensive property, casualty, life, and health insurance products.

In a significant workforce development initiative, five electrical program graduates have been selected for a two-month professional placement at Angostura Holdings beginning January. The selection follows the completion of an intensive nine-week training program called ‘Wired for Success,’ funded by the renowned beverage company and administered in partnership with the NESC Technical Institute (NESC-TI).

The specialized curriculum focused on residential electrical installation with commercial applications, attracting approximately 600 applicants within days of its September 30 announcement. From this pool, thirty participants from diverse national communities were chosen to undergo the rigorous training regimen.

During a December 17 graduation ceremony at Angostura House in Laventille, successful participants received NESC-TI certifications aligned with Caribbean Vocational Qualification standards. The event was attended by key figures including Hansen Narinesingh, Parliamentary Secretary in the Ministry of Tertiary Education and Skills Training, Angostura Holdings Chairman Gary Hunt, NESC-TI President Kern Dass, and Acting Angostura CEO Ian Forbes.

Gary Hunt emphasized the program’s practical objectives: ‘Our aim is to provide real-world, job-ready skills that open doors. Through programmes like Wired for Success, participants have not only built technical capability but have also developed responsibility, confidence, and the professional readiness needed to succeed in a growing field.’

The comprehensive training covered critical areas including lock-out/tag-out safety procedures, electrical laws and circuit analysis, code compliance, conduit bending and installation, and the operation of electrical testing instruments. Participants additionally gained exposure to commercial electrical applications, including foundational knowledge of splitter units used in multi-unit buildings—providing them with competitive advantages in the job market.

Kern Dass highlighted the successful industry-education partnership: ‘Wired for Success demonstrates the impactful results achievable through collaboration between industry and NESC-TI. We take pride in partnering with Angostura to deliver relevant training that equips participants with practical, employment-ready skills.’

The two-month on-the-job training component will enable the five selected graduates to apply their newly acquired expertise within Angostura’s operational environment, representing both a workforce transition opportunity and an investment in developing the next generation of electrical professionals.

In a groundbreaking achievement for Caribbean business standards, Digicel Group has secured the prestigious Chartered Institute of Procurement and Supply (CIPS) Corporate Ethical Procurement and Supply Kitemark, becoming the first Caribbean-based organization to receive this international recognition. The historic announcement was made during the inaugural CIPS Caribbean Conference and Awards 2025 held at Hyatt Regency in Port of Spain, Trinidad, where Digicel’s procurement leadership accepted the distinction.

The telecommunications giant, operating across 25 markets throughout the Caribbean, Central America, and South America including Trinidad and Tobago, now joins an exclusive global consortium of enterprises recognized for exemplary ethical procurement practices and supply chain integrity. The accreditation follows rigorous independent audits that validated Digicel’s adherence to consistent ethical standards throughout its procurement operations.

Arshad Ali, Director of Group Procurement, Supply Chain and Real Estate for Digicel, emphasized the significance of this milestone: “This accreditation fundamentally reflects our business philosophy. It showcases the substantial advancements we’ve achieved in implementing ethical, transparent, and accountable procurement methodologies across the Group while reinforcing our dedication to establishing new benchmarks for responsible sourcing and supply chain governance throughout the region.”

The CIPS Kitemark serves as a powerful assurance mechanism for customers and business partners, confirming that Digicel maintains ethical and responsible operations throughout its extensive supply network. Procurement decisions are now demonstrably guided by both commercial merit and ethical considerations, ensuring all business interactions embody integrity and accountability.

Michael Watson, Chief Compliance and Cyber Security Officer for Digicel Group, added: “This recognition underscores our unwavering commitment to ethical business conduct and the continuous improvement of our ethics and compliance programs. It provides our customers, suppliers, and partners with concrete evidence that Digicel upholds the most stringent ethical standards in all operations.”

This landmark achievement solidifies Digicel’s position as an ethical leader in the telecommunications sector while demonstrating the company’s dedication to responsible growth and sustainable value creation for the Caribbean region and beyond.