Issuu

business@tribunemedia.net

TUESDAY, MARCH 29, 2022

$5.50

$6.16

$6.33

Investor ‘fraud’ concerns on $60m Cat Isl. resort By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government was last night urgently reviewing the legitimacy of a $60m Cat Island resort project after its principals were charged by US federal regulators with playing key roles in a multimillion dollar investment fraud. A Davis administration spokesperson confirmed to Tribune Business that the Almost Paradise development, which is due to have a virtual public hearing on its Environmental Impact Assessment (EIA) next Tuesday, was being examined by officials after this newspaper’s investigation raised numerous concerns about its promoters, the Sahota family.

• Project principals charged in $122m Ponzi plan • Public EIA hearing scheduled for next Tuesday • SEC: Diverted funds financed Bahamas deals Legal filings in the north Texas federal court, obtained by Tribune Business, reveal that Manjit ‘Roger’ Sahota, and his family’s corporate entities were allegedly the largest recipients of funds from what the US Securities

& Exchange Commission (SEC) has branded as “an oil and gas offering fraud conducted over three years”.

SEE PAGE SIX

Cruise port’s $300m finish moved back to early 2023 By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE completion of Nassau Cruise Port’s $300m transformation has been pushed back to early 2023, its top executive has revealed, with $110m worth of landside and buildings construction now set to move into high gear. Michael Maura told Tribune Business that the initial April/May 2022 completion target has been moved to the 2023 first/second quarter due to COVID-related delays, with the Junkanoo Museum, amphitheatre and “two signature food and beverage experiences” at Prince George Wharf’s western end among the last amenities to be finished. Speaking in a recent interview, the Nassau Cruise Port chief executive said: “Our project is continuing. We have completed about 90 percent

Retailers take hits ‘from every angle’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

• $110m in ‘upland’ works starting in earnest • Top executive: ‘Marine works 90% finished’ • Many tenants to move in by 2022’s end of our marine works and materially began our upland works in October 2021. We’ve got the walls up for the arrivals terminal; you can see the skeleton appearing in front of you from the upland works, and this iconic-looking arrivals terminal we’ve talked so much about. “We’ve got about $110m in upland construction. The monies referred to in Global Ports Holding’s release are speaking to ongoing capital

MICHAEL MAURA investment in the marine works, and also capital investment in the upland construction. We’re fully funded; fully financed with debt and equity.” Global Ports Holding, the Nassau Cruise Port’s 49 percent controlling shareholder, in a recent trading update trading update revealed that the Bahamian project accounted for $79.5m, or almost all its total $83.6m in capital expenditure, during the nine months to end-December 2021. Additional debt taken on to finance the construction work at Prince

SEE PAGE FIVE

Smartphone Aggressive Freeport penetration push ‘may be hits 98% of what is needed’ Bahamians By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net JUST 2 percent of Bahamians do not own a smartphone or tablet, communications regulators have revealed, with total mobile connections exceeding the size of the country’s population. The Utilities Regulation and Competition Authority (URCA), unveiling the results of its mobile market assessment, said smartphone data usage had increased by 8.5 percent during the period between 2017 and 2020. In contrast, subscirbers using mobile data only had risen by 46.7 percent over the same period. “In terms of take-up, smartphone data usage stood at 359,719 subscribers in 2017 compared to 390,142 subscribers at year-end 2020. By contrast, mobile data-only usage was 18,983 subscribers in 2017 compared to 27,850 at year-end 2020, or 7 percent of total mobile connections in 2020. This suggests that mobile data usage in The Bahamas is

SEE PAGE FOUR

A FREEPORT hotelier has backed the Government’s “aggressive” approach to reviving Freeport’s tourism industry and wider economy, saying: “Maybe that’s what’s needed.” Magnus Alnebeck, Pelican Bay’s general manager, speaking before Chester Cooper, deputy prime minister, revealed that the Government is trying to narrow the field of Grand Lucayan buyers from five to three, said Freeport was “in a horrible state” and in desperate need of a boost from renewed energy and economic activity. Backing Mr Cooper’s desire for “shovels in the ground” given that it would signal to potential investors that Freeport is open for business, he asserted that the city’s economy could enjoy a rapid turnaround once construction activity is triggered. The deputy prime minister, in his recent address to the Grand Bahama Outlook, unveiled

SAHOTA DEVELOPMENT

aggressive timetables for dealing with both the Grand Lucayan’s sale and the Grand Bahama International Airport’s redevelopment. For the former,he said the Government had set an April target for closing sale negotiations with a preferred bidder, while a 30-day Request for Proposal (RFP) seeking a private partner to transform the airport launched yesterday. Many observers regard the deputy prime minister’s timelines as unrealistic, but Mr Alnebeck argued: “It’s aggressive but maybe that’s what’s needed.... There is no doubt that Freeport is in a horrible state at the moment. It really needs an energy boost, and it needs economic activity. “I can only say that it is great they are pushing it ahead, and if they start doing something with the airport and try to get preclearance back it shows there is an interest from the Government of The Bahamas. That in itself is a valuable signal to any investor. What happened over the years is that the owners of the airport (Hutchison Whampoa and the

SEE PAGE FOUR

MERCHANTS are enduring “the greatest period of uncertainty” they have ever encountered, the Bahamas Federation of Retailers’ co-chair says, adding: “We’re getting hit from every angle.” Tara Morley told Tribune Business in a recent interview that what separates the past two-and-a-half years from previous crises, such as the 2008-2009 financial crash and recession and September 11 terror attacks, is that the retail industry and wider Bahamian economy are suffering “back-to-back” blows with little end in sight. “It’s definitely uncertain times,” she told this newspaper. “I’d probably put it on a par with the 2008 crisis. That was also a drastic blow, as was September 11. We’ve seen some crises before, but what probably differentiates this from some of the other crises in the past is we’re sort of getting hit from every angle,

whether from COVID, a bunch of supply chain issues to the rise in inflation and now with the threat of World War 3 upon us [Russia’s invasion of Ukraine]. “To have everything back-to-back has been very trying for businesses to manage. Businesses are taking it day-by-day, and having a new crisis seems to be the new normal. People have got a lot more flexibility in having business models that adapt as quickly as possible to the ongoing changes in the business environment. “Certainly in my lifetime, it’s been the biggest period of uncertainty, but we’re still pushing through, and just trying to adapt and keep an eye on everything going on in Russia and Ukraine to try and understand what the potential fall-out could be for our market.” As to what those impacts might be, Ms Morley pointed to fuel and food prices as areas where Bahamian consumers are taking

SEE PAGE FIVE

PAGE 2, Tuesday, March 29, 2022

The IMF’s ‘inconclusive’ concluding statements T

he themes in the International Monetary Fund’s (IMF’s) recent Article IV Mission concluding statement on The Bahamas, when viewed in isolation, may appear paradoxical. This is because the Fund is consistently understating positive highlights with cryptic cautionary undertones, juxtaposed against clear warnings that are sedately conveyed. What I have done here is to rearrange aspects of the report in such ways that I believe convey more clearly the messages that it seemingly intended, but maybe deliberately blurred at the edges, for the fundamental reason that the IMF wishes not to be seen as “dictating” policy to any government. A slow and careful assessment, reading between the lines, might just produce a clearer picture of the understated good, the bad and the concerning. The Good Despite attaching cautionary notes to almost every item, there is a substantial amount of good news in the IMF statement. “The economy is recovering from an unprecedented downturn.” Obvious but important, because we do not always appreciate that extent due to lack of information. Continued recovery is crucial. It holds much sway in how certain policy positions will play out in the near to midterm. If there are significant

inflows trending towards, or surpassing, pre-pandemic levels, I am confident that the edge on tax reform will be blunted, at least for a while. “The fiscal deficit is expected to narrow this year.” This is extremely critical. The smaller the deficit, the more there will be to celebrate, given that in the current scenariosthe ability to finance another large deficit will be handicapped. Look around the region and observe the speed at which certain tax allowances are being effected in response to an inflationary environment. Compare those to The Bahamas, and you will appreciate how crucial the return of economic normalcy is for the country. Every ounce of news about recovery is therefore not just good news, but fantastic news. “The authorities have strengthened their commitment to climate change policies.” A feather in the cap for the Prime Minister and his administration. He has emerged as a strong advocate for climate change reforms, performing admirably on the global stage. This is a position that creates tensions with the country’s continued relationship with fossil fuels but, nonetheless, there is clearly a greater push towards alternatives. Despite this, I believe that The Bahamas has carved out a regional leadership space, alongside Barbados, on this issue. The

Hubert Edwards By

Prime Minister has been bold in this regard. While these actions will not readily translate into dollars and cents for fixing our current economic plight, influence is being created which may later be leveraged for such gains. It places The Bahamas squarely in the middle of the sustainable development conversation, which could hold sway in attracting green, sustainable investments. “The Central Bank made good progress in setting up a bank recovery and resolution regime, but there is scope for further enhancements.” There is scope for growth, but the mechanism is critical given the recent experience with the government-owned Bank of The Bahamas and the systemic implications that local banks have for the country. Foreign

ownership of a number of local clearing banks provides a clear hedge against the challenges this regime anticipates, but it is clearly a great and important development for the country as far as financial system stability is concerned. “The financial system is well-capitalised and liquid.” There were expectations that the pandemic would result in greater challenges for the banking system as a result of loan delinquencies, but this did not happen. Nor is there any sign yet of pressure and, based on the Central Bank’s assessment, this is not anticipated. With the current level of capitalisation, the stability of the financial system is on a solid footing. The level of liquidity in the system potentially augurs well for the recovery process, as banks seek to more productively exploit their balance sheet. I believe that the preceding points, together with some recent and important policy changes, the continuation of policy from the previous administration, and a waning pandemic are sound reasons for the country’s optimism to continue growing. In my view, the most significant point in the entire report is: “The Government’s goal to achieve a 1.5 percent of GDP fiscal surplus over the medium term is well-calibrated.” As per the Fiscal Strategy Report and mid-year budget presentation, the

Government plans to realise a Budget surplus by 2024-2025. This achievement rests fundamentally on the ability to increase tax revenue from the current average of 17-19 percent of gross domestic product (GDP) to 25 percent, a position more closely aligned with - but still less than - regional peers. The impetus for this growth lies largely in reforms that will be “strengthening tax administration… Measures include the re-establishment of the Revenue Enhancement Unit and an updated property tax roll.” That is good news. The IMF generally agrees with the efficacy of the current administration’s plans regarding implementation of the stated reforms. In a seeming paradoxical move, the IMF then immediately stated: “A well-calibrated tax policy reform should go handin-hand with ongoing revenue enhancement efforts. Options include gradually bringing VAT rates close to the regional average of 15 percent, further limiting tax concessions, and increasing property tax rates on higher value residences. In addition, consideration could be given to corporate and personal income taxes for large businesses and high earners.” Again, on analysis, it appears that the IMF is confirming and validating the strategic direction of the administration, which is good news. On the other hand, there is enough daylight between the two statements to entertain a conclusion that the IMF believes that enhanced tax administration alone is either not sufficient or not sustainable over the long run, a challenging position. I would anticipate that policy makers will help to eliminate any ambiguity here as more information on the reforms is provided. Policymakers must pay close attention to these “good things”, and push as hard as possible to obtain every benefit and move forward with the reforms that will enhance their impact. Decisions should also be guided by the thinking about what can be done to shore up areas of fragility or maximise gains. For example, now is the time for actively leveraging agriculture and other sectors to “domesticate” more of the tourism intake, much of which never hits the local financial system and therefore has little economic effect despite emanating from our most productive “asset”. It will be useful for changes to be assessed for sustainability, and the projections stringently stressed for downside scenarios and communicated to manage uncertainty, market sentiments and investor confidence. The Bad It becomes difficult to accept a statement encouraging increases in a recently-reduced tax (VAT), and which offers a myriad of other tax options, without concluding that the calibration indicated is limited to the efficacy of reform implementation and not totally bolted to the desired outcome of a 25 percent revenue-toGDP ratio. The one sure thing is that the tax reform conversation is hardening, and the current administration has demonstrated a commitment to follow this path. The ultimate destination is, as Moody’s puts it, contentious and a potentially uncomfortable reality with which to contend. We hope the reforms todate will be effective, and that the Prime Minister’s promise of a tax increase being a last resort remains an unnecessary option. Time, and a robust economic recovery and fiscal consolidation, could be the great decider, providing an obvious hedge for the strategy employed sonfar. It is clear that The Bahamas faces serious decisions regarding its tax regime, while understandably struggling with the tensions of

THE TRIBUNE

rationalising the need for increased revenues. The implications are not solely economic in nature and, in this regard, it is difficult to ignore the totality of the administration’s pronouncements to date. This is exactly what the IMF did, and then cryptically delivered a cautionary note. The aspect that you might not find clearly stated is that the fiscal space for The Bahamas is extremely limited and seemingly tightening further. There is no question that there is a need for increased revenue. That the administration has laid out a plan to get there is beyond doubt. One question that comes to mind, however, is the sustainability of the enhancement measures. Here is the play, I think. My analysis of the current thrust plays out something like this. We must get revenues up to 25 percent. We are hopeful for a relatively quick fiscal consolidation through the roaring return of tourism and this, together with recent reforms, reduces the immediate need for an increase in taxes. Clearly, we will contemplate the 15 percent minimum corporation tax on the basis that it poses a potential reputational issue for The Bahamas. A simple, straightforward and generally sound approach, which limits the possibility of a disruptive decision. There is, though, one small wrinkle, and that is the extent to which the general pool of uncollected taxes is, with effective collection, a fast declining one. It features, firstly, willing payers and then the illiquid obligors. The potential wrinkle is the extent to which the reforms, while effective, will secure sustainable results vis-à-vis the targeted 25 percent revenue-toGDP ratio. The IMF went on to state what is a theoretically valid position but appearing to lack practicality. It said: “It is recommended that the Central Bank allows interest rates to rise, as needed by market conditions, to support the currency peg without having to resort to a drawdown of international reserves.” A range of economic sources indicates that higher interest rates have some impact in increasing the value of a country’s currency. However, it remains inexplicable as to why the IMF would recommend the need to increase the value of a pegged currency. The thinking is generally that higher interest rates tend to attract foreign investment, and increase the demand for - and value of - the home country’s currency. The question is under what set of circumstances one would envision this happening such that it would be considered prudent for the Central Bank to increase interest rates. In my second article, we will conclude the assessment of The Bad points in the IMF’s statement, starting with the paradox of the recommendation for increased interest rates and then consider the The Concerning issues. NB: Hubert Edwards is the principal of Next Level Solutions (NLS), a management consultancy firm. He can be reached at info@ nlsolustionsbahamas.com. He specialises in governance, risk and compliance (GRC), accounting and finance. NLS provides services in the areas of enterprise risk management, internal audit and policy and procedures development, regulatory consulting, anti-money laundering, accounting and strategic planning. Hubert also chairs the Organisation for Responsible Governance’s (ORG) Economic Development Committee. This and other articles are available at www.nlsolutionsbahamas.com.

THE TRIBUNE

Tuesday, March 29, 2022, PAGE 3

GROVE BUSINESSES: MURDER RISE ‘TOO CLOSE FOR COMFORT’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net BUSINESSMEN in the Coconut Grove area yesterday urged the Royal Bahamas Police Force to “step up patrols” as the recent surge in murders is “just a little too close for comfort”. Ivan Carey, general manager of Kenneth’s Food Store on Bahama Avenue, told Tribune Business that the sudden uptick in killings and crime has him “concerned” for the safety of his employees and patrons. “While it seems like it’s targeted persons, there is always that feeling that innocent people could get hurt in whatever is going on because, from what we have gathered, this is a turf war and it’s targeting certain people. I wouldn’t say I feel threatened, but it is just a

little too close for comfort right now,” he said. The Grove in recent weeks has become a socalled crime ‘hot spot’ for law enforcement due to the spike in shootings, which have left four dead and two in hospital. More than 50 percent of Mr Carey’s customers are walk-ins from the surrounding neighbourhoods, and he said: “We haven’t gotten any feedback from our customers that they are afraid to come to the store. We still have a pretty good flow and it doesn’t seem to have affected the business.” Concerned that the crime spike may lead to more armed robberies, Mr Carey added: “I want the police to step up on some patrols in this area. Even as of [today] something happened through Florida Court and we saw police cars flying by. Someone told us that a victim is being tended to in the ambulance

POLICE at the scene of a homicide at Cordeaux Ave on Saturday, March 12. Photo:Racardo Thomas/Tribune Staff and there are a lot of police in the area now.” Some companies have moved to close earlier while it is still daylight. Matthew Kemp, J-Co Trading’s assistant manager on Robinson

Road, said: “We decided to close earlier. We used to close at 7pm, but now we close at 6.30pm. We used to close at 6pm before the time sprang forward an hour.

“We just have to keep our guard up, and I just want to advise more Bahamians to use more non-physical aspects of self-defence and try to avoid conflicts, putting in place alarms and investing

ARAWAK CAY CHIEF EYES TWO FURTHER FISH FRYS By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Arawak Cay Association’s president yesterday said two new Fish Fry-style destinations need to be created on New Providence as he moves to bring new stalls appearing east of Arawak Cay Drive into his membership. Rodney Russell, the Arawak Cay Association’s president, told Tribune Business: “I believe any Bahamian who wants to do something for themselves should have an opportunity to do something for themselves. I have always believed in that and I believe we can do more. For the amount of persons who come to me looking for a place or trying to find a place, I think we need to create two new Fish Fry’s for Bahamians.” He suggested that western and southern New Providence should host these Fish Fry locations, adding that he is in the process of organising a meeting with the Government to identify potential sites. Mr Russell argued: “When you look at the population and where the population is, we should not have everyone coming to one area.

“Most Bahamians believe in jamming everything up, but when we have people widely spread the way this island is spread, we need to create a Fish Fry in the south and one in the far west instead of having everyone merge into one area. So, by creating these two new Fish Frys, we should have more farmers able to sell their product, and more fishermen will be able to fish. “So whenever I get a chance to sit with the Government, I will tell them I want to put a Fish Fry in South Beach and one in the far west because the population is moving west of Gladstone Road, and persons should be able to have a Fish Fry in these areas. When you look at the amount of people who live south of Carmichael Road, we have more people who live south of Carmichael Road than we do people who live north of Carmichael Road.” The current Arawak Cay Fish Fry was formed by chance some 30 years ago when the Government saw the need to organise vendors who were selling their produce by the roadside. Given how this worked out, Mr Russell sees more opportunities for expansion. “I believe if we were able to create these things, and if the Government

would assist me in helping Bahamians create these two new Fish Frys, this could increase the number of people involved in the fishing industry,” he said. “If the Government does give me an opportunity, I also want to create grill pits in those two new areas so our farmers, who do husbandry, can sell more of their pigs and piglets. So you would have an atmosphere that’s just a little different from Arawak Cay, because Arawak Cay just sells fish and conch primarily. These new areas will be doing grills, but anything I can do to help my people expand and create and develop, I will do that so we can compete against these fast food companies.” As for the new stalls appearing at Arawak Cay, Mr Russell said: “Lands and Parks (Bahamas Public Parks and Beaches Authority (BPPBA) are responsible for that area, and they decide who gets what and who is allowed to operate there. I don’t know if they had a moratorium there. A lot of us just want to jam up in one spot, and that’s when everything gets crowded, and when it becomes saturated then everyone starts to complain. “I have seen new stalls going up, but it has nothing to do with us on the next

side of the road. Lands and Parks monitors that and they pay a lot of attention to that area, so if you see new structures going up, the BPPBA have sanctioned it.” “This is why I want to talk to the Government because

I would like to bring everybody under one umbrella. Somehow these politicians prefer to have these things scattered for some reason, but if we are able to get what we need I’m going to bring all of them under subjection and create some

in more surveillance equipment. While these may seem as weak crime deterrents, we believe once someone sees a system in place they would think twice before attempting something. I try to not dress too flashy either. I try to tone down my dress so as not to attract any unwanted attention.” Valderine Burrows, owner/operator of Just a Touch of Love on Fourth Street, the Grove, added: “We just go home a little earlier and we close at 4pm now instead of 5.30pm. Our customers have not been registering any concerns with the rise in crime in the area or anything like that.” Arnold Heastie, owner/ operator of the Esso gas station on Blue Hill Road, said: “I haven’t been impacted by the rise in crime in the area. I live in the Grove and I understand everything that happens around here.”

uniformity and some rules and regulations.” Mr Russell said there was never any intention to expand east of Arawak Cay Drive because the area is prone to tidal surges and flooding. “That’s why the new areas I’m proposing for the south and west will be built on stilts, so we don’t have to worry about flooding,” he added.

PAGE 4, Tuesday, March 29, 2022

THE TRIBUNE

AGGRESSIVE FREEPORT PUSH ‘MAY BE WHAT IS NEEDED’

FROM PAGE ONE

Grand Bahama Port Authority) did not show an interest in it. “I think it’s great that the Government is taking an aggressive approach to it and trying to move it in the right direction at this point in time. The signal that is sending is extremely important. If the Government says let’s wait and see what happens with the hotel before they do the airport, that will not send an aggressive signal that will make

people feel comfortable,” he continued. “The aggressive approach is great. Whether it comes off and that, of course, is finding the right kind of people [to buy the Grand Lucayan]. They are evaluating the bidders’ plans, and I think it is great that they are focusing on the vision as opposed to the dollar amount they are prepared to pump into the hotel. The long-term standing, and long-term benefits, are dependent on people with good ideas.”

Praising the Government for trying to change the mood around Freeport, Mr Alnebeck said: “At least there’s some positive talk at the moment. We’re not seeing anything on the ground, but the deputy prime minister said how important it is to put shovels in the ground. I’m one of those people who will believe it when I see it. When the day comes, seeing physical activity, seeing construction activity, then you will see a boost in confidence that’s very important.”

The Pelican Bay chief said the Grand Lucayan had largely been closed for five years after Memories pulled out following Hurricane Matthew in October 206. Warning that the resort will be hard to revive if left in its current state much longer, he nevertheless said a turnaround could take place rapidly under the right owner, pointing to the impact from Baha Mar’s resumption following its Chapter 11 bankruptcy and receivership woes. Mr Cooper, in his Grand Bahama Business outlook

address, suggested that the Grand Lucayan will be “fully on stream by 2024”, with parts of the redeveloped property open sooner. He pledged that the Davis administration would be just as swift in moving to repair Grand Bahama International given that its status as the island’s leading stopover gateway is vital to the Grand Lucayan’s success. The Request for Proposal (RFP) process, seeking an investor to transform the key infrastructure asset via a design, finance build and

SMARTPHONE PENETRATION HITS 98% OF BAHAMIANS FROM PAGE ONE dominated by smartphone data usage,” URCA said. “Eighty-two percent of persons surveyed said they currently use mobile data as part of a smartphone bundle compared to 25 percent that use mobile data only service (no allowance for calls, messaging) for Internet purposes. Clearly the vast majority of them consume mobile data as part of a smartphone bundle with calls, messaging and data.

“Mobile data users also rely on other technologies to access the Internet. Sixty-five percent of mobile data-only users said they have more than one way of accessing the Internet, with 57 percent acknowledging that they also use mobile data service on their smartphone,” the regulator added. “Additionally, 98 percent of the respondents said they hold a smartphone or tablet with the ability to access the Internet and/or send e-mails, with more than 50

percent of these respondents stating that they own more than one smartphone and/or tablet with Internet capability. This means that only a tiny share (2 percent) of respondents did not hold a smartphone or tablet.” As for mobile penetration, URCA said: “Cellular mobile technology and services remain an important and prevalent mode of communications in The Bahamas. Total mobile connections (including mobile data-only service) increased by 14.26 percent between

2016 and 2020, from 365,840 to 417,992 connections. “Mobile penetration rates reached 98 per 100 population around the time of Aliv’s entry, and between 2016 and 2020 the mobile penetration rate further increased by 10 percent from 98 to 107 per 100 of total population. Underpinning the upward trends in mobile take-up levels has been a 2.3 percent and 32 percent increase penetration for mobile voice and messaging and/or data and mobile data only

connections. However, the growth in mobile penetration appears to be slowing. “In particular, after a decline during the period 2014-2017, average mobile calling per user increased from 77 minutes per month to 133 minutes per month between 2017 and 2020. This is likely to be the result of an elasticity effect - driven by underlying price reductions, as set out under the ‘price trends’ analysis below - and large or unlimited allowances of domestic calling minutes within retail

manage private-public partnership (PPP), will launch on March 28 with bids to be submitted within a tight 30-day deadline. Promising that the Davis administration “will not tarry” or delay in efforts to revive Grand Bahama’s economy, Mr Cooper said he had also reiterated the Government’s support for Carnival’s Grand Port project at Sharp Rock to the cruise line. mobile bundles,” URCA added. “The volume of SMS traffic per mobile user declined from 28 messages per month in 2016 to eight messages per month in 2020, despite the mobile operators offering generous allowances of domestic SMS within their retail mobile bundles.... In URCA’s opinion the increased mobile data usage correlates with growing demand for data-based services including Overthe-Top (OTT’ call and messaging services (WhatsApp, Facebook) and content streaming by Bahamian consumers.”

TESLA SEEKS 2ND STOCK SPLIT IN LESS THAN 2 YEARS NEW YORK Associated Press SHARES of Tesla jumped at the opening bell Monday after the electric car maker announced its second stock split in less than two years. The company said in a regulatory filing, and also in a tweet, that it plans to make a request at an upcoming annual shareholders

meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend. It did not say when a split would occur or the ratio of such a stock split, but it would follow similar maneuvers by a trio of tech companies that have seen their shares soar in recent months.

NOTICE

Tesla's shares are up more than 60% over the past year, with each costing more than $1,000. And the company is growing. CEO Elon Musk opened Tesla's first European factory last week, a " Gigafactory " in Germany that will employ 12,000 people and produce 500,000 vehicles a year.

"Given the stock's meteoric run its not a surprise that Musk & Co. are heading down the path of another stock split especially with robust EV demand and the build-outs of the flagship Berlin and Austin Giga factories now on a glide path, said Dan Ives, who follows Tesla for Wedbush.

NOTICE

NOTICE is hereby given that ALDRIDE JOSEPH of Evans Street, East Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE is hereby given that HERNANDO MANUEL GOMEZ of South Beach, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

LEGAL NOTICE

N O T I C E

ESSO NIGERIA HOLDING TWO (VENTURES) LIMITED

ESSO NIGERIA HOLDING ONE (VENTURES) LIMITED

Creditors having debts or claims against the above-named Company are required to send particulars thereof to the undersigned c/o P.O. Box N-624, Nassau, Bahamas on or before 21st day of April, A.D., 2022. In default thereof they will be excluded from the benefit of any distribution made by the Liquidator.

Dated the 29th day of March, A.D., 2022

Rebecca L. Wittrock Liquidator 22777 Springwoods Village Parkway Spring, Texas 77389 U.S.A.

LEGAL NOTICE

N O T I C E

ESSO NIGERIA HOLDING TWO (VENTURES) LIMITED

ESSO NIGERIA HOLDING ONE (VENTURES) LIMITED

N O T I C E IS HEREBY GIVEN as follows:

(a) ESSO NIGERIA HOLDING TWO (VENTURES) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

(a) ESSO NIGERIA HOLDING ONE (VENTURES) LIMITED is in dissolution under the provisions of the International Business Companies Act 2000.

(b) The dissolution of the said Company commenced on the 24th day of March 2022 when its Articles of Dissolution were submitted to and registered by the Registrar General.

(c) The Liquidator of the said Company is Rebecca L Wittrock, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.2 Dated the 29th day of March, A.D., 2021 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

(c) The Liquidator of the said Company is Rebecca L Wittrock, of 22777 Springwoods Village Parkway, Spring, Texas 77389, U.S.A.2

A SIGN bearing the company logo outside a Tesla store in Cherry Creek Mall in Denver, Feb. 9, 2019. Tesla is looking to split its stock so that the electric vehicle maker can pay a dividend to its shareholders. The company said in a regulatory filing that it plans to make a request at its upcoming annual shareholders meeting to increase its number of authorized shares so that it can split the stock in the form of a dividend. Photo:David Zalubowski/AP A stock split does would change the price-per-stock, but not the overall value of those holdings. It can push up the price of a company's stock, at least temporarily, and the announcement did just that on Monday. Shares continued to rise after the opening bell, almost 8%, or $77.22, to $1,087.86. Tesla Inc. said that its board has greenlighted the proposal, but that the dividend is contingent on final board approval. Tesla had a 5-for-1 stock split in August 2020,

which went into effect one day after the company announced that it planned to sell up to $5 billion worth of its stock. Just three months later Tesla said that it was planning another stock sale, looking to raise up to $5 billion in that offering. Tesla follows other tech giants that have seen the price of shares vault out of reach of most investors. Alphabet, Google's parent company, announced a 20-for-1 split in February Amazon.com Inc. said this month that it would do a split of the same ratio.

NOTICE

NOTICE is hereby given that GRICELLE LADRON DE-GUEVARA ALVARADO of P. O. Box N-472, Bethel Avenue, New Providence, The Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of March, 2022 to the Minister responsible for nationality and Citizenship, P. O. Box N-7147, Nassau, New Providence, The Bahamas. LEGAL NOTICE

NOTICE

Core Shipping & Trade Ltd. In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act. 2000, Core Shipping & Trade Ltd. is in dissolution as of March 18.2022 Lighthouse Corporate Services Ltd., office situated at Old Fort, Building 2, Suite A, Lyford Cay, Nassau, Bahamas is the Liquidator.

Dated the 29th day of March, A.D., 2021 HARRY B. SANDS, LOBOSKY MANAGEMENT CO. LTD. Registered Agent for the above-named Company

LIQUIDATOR ______________________

THE TRIBUNE

Tuesday, March 29, 2022, PAGE 5

CRUISE PORT’S $300M FINISH MOVED BACK TO EARLY 2023

FROM PAGE ONE George Wharf result in Global Port Holdings’ net debt jumping $132.7m during the period. “Net cash from operating activities was a negative $11.8m in the period, mainly driven by advance contractor payments for capital expenditure in Nassau,” Global Ports Holding said. “Net cash from financing activities was a negative $98.5m, reflecting the net impact of our early Eurobond repayment, drawdown on our new loan facility and an additional $55m of debt issuance by Nassau Cruise Port, as well as $43.1m of interest paid in the period. “Interest cash payments during the period were notably higher because the first interest payment date on the May 2020 bond issued by Nassau Cruise Port (current outstanding amount of $134.4m) was June 2021. All

future interest at Nassau Cruise Port is to be paid semi-annually.” Mr Maura, meanwhile, revealed that the construction completion deadlines had been adjusted from their original late 2022 first quarter/2022 second quarter goals. “That’s what we had hoped for back in 2019, but where we are today in terms of our arrivals terminal, which will be the new home for Nassau Cruise Port’s team, Immigration, Customs and the Port Department, personnel are expected to begin moving into that facility by December this year. “Notwithstanding that there will be any finishing work going on, we anticipate moving into that building in December this year. We have the marketplace, which is the new home for the Ministry of Tourism’s legacy tenants, and we expect to allow them to begin to move in and outfit their spaces in November 2022.

“Then, when we move a little to the west, we have what we call the Port Square, which will be authentically Bahamian retail and food and beverage spaces. It will be November 2022 when those tenants have access to those spaces and begin to fit them out,” Mr Maura continued. “By year-end we will have completed the ground transportation area, which will accommodate taxis and tour operators. It will bring greater efficiency and safety, bringing a more satisfying experience for taxis and tour operators and, more importantly, the customer being the cruise passenger. That facility will be ready by December this year.” While remaining aspects of the landside/building works will linger into 2023, Mr Maura said: “Two signature food and beverage experiences in the west are scheduled for the first quarter/second quarter 2023 because they are far more

elaborate in their design and outline.” Declining to identify the likely tenants until a lease deal is signed, he added: “We are diligently and continually working with parties interested in those spaces. The amphitheatre will be the 2023 first quarter as well, and the Junkanoo Museum by December 2022/January 2023.” Nassau Cruise Port’s main contractor, Enka, held a recruitment drive with the Department of Labour on Saturday in a bid to find some 250 Bahamian construction workers to work on the landside element. Prince George Wharf’s transformation comes amid expectations that it will coincide with the cruise industry’s return to pre-pandemic passenger volumes. “The cruise industry currently expects activity levels to continue to rise, with the industry expecting to reach close to 100 percent fleet deployment during

RETAILERS TAKE HITS ‘FROM EVERY ANGLE’ FROM PAGE ONE an immediate hit. “The bigger ones will be the surge in fuel prices, which will have an inflationary impact across-the-board with shipping costs increasing yet again,” she added. “The supply chain issues are still ongoing and inflation, unfortunately, I would say is only going to get worse with the Ukraine crisis having a major impact on the price of fuel, which will have an impact on the

cost of shipping. The Bahamas is a price taker, so we’re just going to be absorbing the inflation passed on by the supply and demand from the rest of the world. “It’s definitely something we’re trying to navigate and figure out how it’s going to impact consumer spending going forward. I think one potential benefit for The Bahamas, being so close to the US, is that we might be a more appealing destination. Air fares will be lower than going to Europe and

Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

JOB VACANCY SECRETARY A fast paceed church is in need of a secretary.

• • •

Must be a born again Christian Competent in Microsoft Office Suite Honest and married

Salary commensurate with experience and skills Applicants should email resume to

zionsouthbeach@gmail.com Serious Enquiries Only

further away. We’ll wait and see how this plays out. Nothing is letting up.” With Russia and Ukraine accounting for around onethird of the world’s supply of wheat, a major staple in cereals and a number of foods, Ms Morley added of rising food prices: “It’s just going to be additional stress on the consumer. I think the world is watching with bated breath to see what the wider implications will be. We know it will result

in additional inflationary pressures.” Calling on Bahamas Power & Light (BPL) to “be more seriously looking at greener alternatives” for energy and how it can begin the transition to such sources, the Federation of Retailers co-chair said recent COVID-19 outbreaks in some of China’s major commercial, port and manufacturing hubs only threaten to make the supply chain woes worse due to

the summer of 2022,” Global Ports Holding said, outlining trends that will also benefit The Bahamas. “As activity levels continue to increase, cruise ship occupancy levels will be crucial to our financial performance. “Occupancy levels remain significantly below long-established historical norms of over 100 percent, and have not materially risen in recent months. In the last few months, concerns around the Omicron variant had a negative impact on cruise ship occupancy levels, with passenger volumes for January and February 59 percent below the same period in 2019. “However, occupancy levels are expected to steadily increase over the next 12 months, trending back towards a run rate of around 100 percent by the end of calendar year 2022.” Much is likely to depend on whether another worldwide COVID outbreak occurs, impacting key passenger

source markets, rising fuel prices and geopolitical tensions surrounding Russia’s invasion of Ukraine. However, Global Ports Holding was equally optimistic on the cruise industry’s longer-term outlook. “Longer-term, the outlook for the cruise industry continues to be positive,” it said. “The passenger capacity of the industry is forecast to grow by 45 percent by 2027 from 2019 levels, driven by the 75 cruise ships currently in the cruise ship order book and due for delivery by 2027. “This growth in the number of ships, and the size of ships, means that many cruise ports will need to invest in their infrastructure in order to be able to accommodate the new ships. There is no better example of this type of investment than Global Ports Holding’s significant investments into Antigua Cruise Port and Nassau Cruise Port.”

resulting lockdowns and other restrictions. “It’s going to send shocks into the system,” Ms Morley, who operates three retail formats, Cole’s of Nassau, Morley for Men and Maison Decor, said. She added that shipment delays depended on the product and market where goods were originating from. “Personally, we’ve been experiencing delays from Brazil, China, India, and have had a lot of delays from Indonesia. Every different market has a reason for the delays, and it’s completely product-dependent.

There’s still a backlog and container shortage, so we do not expect that to change in the foreseeable future according to our sources. “For us, at least, the delays are on par with what we experienced at Christmas. We had some shipments that were supposed to come in October that were not received until January, but we had shipments ordered for November that arrived in November....... There’s no escaping. It’s a bit of a crap shoot. I’d definitely say for businesses that have the ability to stock up to do so.”

PAGE 6, Tuesday, March 29, 2022

THE TRIBUNE

INVESTOR ‘FRAUD’ CONCERNS ON $60M CAT ISL. RESORT

FROM PAGE ONE

Describing the venture as a classic Ponzi scheme, in which new investor monies were used to repay those who had been lured in earlier, the US capital markets regulator alleged that a collection of investment funds known as Heartland Group Ventures raised a total $122m from more than 700 investors via five “unregistered” securities offerings. The funds raised were supposed to be invested in oil and gas drilling projects “producing hundreds of barrels of oil per day”, yet the SEC is claiming that these wells have yet to deliver a single barrel. Instead, investor monies were diverted for other purposes, with the regulator’s December 1, 2021, lawsuit alleging that some $54m - just over 44 percent of the total raised - went to Mr Sahota and three family entities - ArcoOil Corp, Barron Petroleum and Dallas Resources. “The Sahota defendants and Dallas Resources used millions of dollars in Heartland investor funds to purchase a private jet, a helicopter, real estate in The Bahamas and on other non-oil and gas expenditures for themselves,” the SEC alleged. It also accused Mr Sahota and the family’s companies of making “material misrepresentations” about oil well production, inflating and altering volumes and revenues. Mr Sahota’s wife, Harpit, and sons Monrose and Sonny, are all named as “relief defendants” in the SEC’s lawsuit because they either attended field trips used to promote the projects to Heartland investors or held corporate positions with the three family companies. While Mr Sahota and his family have vehemently denied the claims against them, multiple documents directly link them to the proposed Almost Paradise project. The EIA, which has been seen by Tribune Business, is titled Sahota Cat Island EIA, and virtually

every page has Cat Island Sahota/December 2021 affixed at the bottom. Plans showing the purported boutique resort’s layout are also branded Sahota Development: Cat Island, Bahamas in multiple places. “The proposed Sahota development is situated on approximately 50 acres in the vicinity of Greenwood, Cat Island, The Bahamas,” said the EIA, conducted by Bahamas-based Waypoint Consulting together with several sub-contractors. “The mixed-use development features 20-room boutique hotel, 18 villas, four hilltop villas, one private residence, and amenity/recreational facilities to be constructed over three phases.” Further evidence of the ties between the Sahota’s and the Almost Paradise project comes from the SEC’s court filings. They refer to the vacation rental listing for one of the Sahota’s existing Cat Island properties via the VBRO website. One of the VBRO photos, while cropped slightly differently, is an exact match for a photo on the Almost Paradise project’s website home page, while both sites give similar descriptions for what is the same property. Under the heading Available Villas to Rent, the Almost Paradise website states: “One of our best kept secrets of The Bahamas. There’s much to see here at this nine-acre property in Port Howe. The villa is newly built and comprised of three bedrooms and two bathrooms, which has enough room to sleep eight people comfortably. The villa is approximately 1,450 square feet. Come stay here and enjoy a piece of paradise.” The VBRO posting, by Monraaj (likely Monrose) Sahota, states: “Welcome to Almost Paradise Villas. This villa on nine acres has a one-of-a-kind tranquil feeling with its own private lookout and sandy beach just steps away.” Meanwhile, the Almost Paradise website also features a photo of a jet

with the words: “Almost Paradise Resort is offering guests and members the opportunity to fly into Cat Island like a boss in the company’s Challenger 601 private jet. New Bight Airport has a 5,000 foot runway, which is suitable for a private jet, and is only 30 minutes away from Almost Paradise resort.” The jet’s registration number, N486BG, can clearly be seen on one of its engines and is an exact match for the number disclosed in the SEC’s court filings in reference to the plane owned by the Sahota’s that was allegedly purchased using diverted investor monies. The US capital markets regulator is also claiming that some $1.5m in investor funds was used to purchase the family’s existing real estate holdings in The Bahamas/ Cat Island. Efforts to contact the Sahota’s proved fruitless as the number on the Almost Paradise website has been engaged or dead for four days, while an e-mail sent via the site was not replied to via press time. The Government, meanwhile, appeared to be unaware of the family’s SEC legal woes, or connection to a $60m resort project targeted at the Prime Minister’s very own constituency, until contacted by this newspaper. The Davis administration spokesperson declined to comment further on the Almost Paradise affair other than to assert that it had been approved by the former Minnis government. They added that the Bahamas Investment Authority (BIA), upon being informed of Tribune Business’ inquiry, had delved into its files and found the project was approved from 2020. “It was approved by the former administration. I can confirm to you that it was approved by the prior administration in 2020,” the spokesperson said. “ However, both Dr Hubert Minnis and his former senior policy adviser, Joshua Sears, said they knew nothing about the Almost Paradise project or

the Sahota’s when contacted by this newspaper. The former prime minister said he could not recall the project coming before the National Economic Council (NEC), which in reality is the Cabinet or a Cabinet committee/subcommittee, during his time in office. And Mr Sears, who was responsible for bringing complete foreign direct investment (FDI) applications through the BIA to the NEC, also said he was unfamiliar with the development. “While I was at the Office of the Prime Minister, this project never went to the NEC,” Mr Sears said. “It may have been dormant. Sometimes they gain interest, and they they wane. This project may have been submitted, and for various reasons lost momentum. We do due diligence on every investment project or international investor to make sure they’re credible.” However, the Sahota’s and Waypoint Consulting must have received some kind of encouragement to proceed as the EIA reveals that field work for the assessment was conducted in February, April and May 2021. A joint site visit with the Department of Environmental Planning and Protection (DEPP) was held on April 16. Melissa Alexiou, Waypoint’s environmental and project management consultant, declined to discuss the identity of her clients yesterday. While the SEC lawsuit was filed both after the EIA was completed, and the receipt of any approvals by the Minnis administration, Tribune Business’ findings raise disturbing questions surrounding the strength, and scope, of the Government’s due diligence on foreign investors and whether their backgrounds, and source of funds, are vetted sufficiently. And, while the Government is especially eager to rapidly bring FDI projects out of the pipeline in its efforts to revive the Bahamian economy postCOVID-19, the Almost Paradise situation suggests

MARKET REPORT www.bisxbahamas.com

MONDAY, 28 MARCH 2022

BISX ALL SHARE INDEX: BISX LISTED & TRADED SECURITIES 52WK HI 6.70 40.50 2.05 2.90 2.60 6.05 10.05 2.56 9.02 3.10 7.20 13.00 2.71 10.10 11.25 10.75 15.00 4.00 10.00 16.50

52WK LOW 4.55 32.12 1.46 2.20 1.30 5.50 6.00 2.82 4.25 2.27 5.50 9.75 1.99 6.50 10.02 9.00 13.10 3.50 8.00 15.50

SECURITY AML Foods Limited APD Limited Benchmark Bahamas First Holdings Limited Bank of Bahamas Bahamas Property Fund Bahamas Waste Cable Bahamas Commonwealth Brewery Commonwealth Bank Colina Holdings CIBC FirstCaribbean Bank Consolidated Water BDRs Doctor's Hospital Emera Incorporated Famguard Fidelity Bank (Bahamas) Limited Focol Finco J. S. Johnson

PREFERENCE SHARES 1.00

1.00

1000.00 1000.00 1000.00 1000.00

1.00 10.00 1.00

Bahamas First Holdings Preference Cable Bahamas Series 6 Cable Bahamas Series 8 Cable Bahamas Series 9 Cable Bahamas Series 10 Colina Holdings Class A Fidelity Bank Bahamas Class A Focol Class B

CORPORATE DEBT - (percentage pricing) 52WK HI 100.00 100.00

52WK LOW 100.00 100.00

SECURITY Fidelity Bank (Note 22 Series B+) Bahamas First Holdings Limited

CHANGE

%CHANGE

YTD

YTD%

2229.07

-0.02

0.00

0.83

0.04

SYMBOL AML APD BBL BFH BOB BPF BWL CAB CBB CBL CHL CIB CWCB DHS EMAB FAM FBB FCL FIN JSJ BFHP CAB6 CAB8 CAB9 CAB10 CHLA FBBA FCLB SYMBOL FBB22 BFHB

BAHAMAS GOVERNMENT STOCK - (percentage pricing) 115.92 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.98 100.00

104.79 100.00 100.00 100.00 100.00 100.00 100.00 100.00 96.71 93.97 94.12 91.00 90.95 89.02 89.62 89.00 90.24 90.73

MUTUAL FUNDS 52WK HI 2.50 4.67 2.20 207.86 207.68 1.72 1.83 1.81 1.05 9.37 11.83 7.54 16.64 12.84 10.77 10.00 10.43 14.89

52WK LOW 2.11 3.30 1.68 164.74 116.70 1.68 1.73 1.75 1.01 6.41 7.62 5.66 8.65 10.54 9.57 9.88 8.45 11.20

Bahamas Note 6.95 (2029) BGS: 2014-12-7Y BGS: 2015-1-7Y BGS: 2014-12-30Y BGS: 2015-1-30Y BGS: 2015-6-7Y BGS: 2015-6-30Y BGS: 2015-10-7Y BGRS FX BGR106036 BGRS FX BGR117037 BGRS FX BGR118037 BGRS FX BGR125238 BGRS FX BGR127139 BGRS FX BGR127149 BGRS FX BGR129249 BGRS FX BGR131249 BGRS FX BGR132249 BGRS FX BGR136150

BAH29 BG0107 BG0207 BG0130 BG0230 BG0307 BG0330 BG0407 BSBGR1060361 BSBGR1170376 BSBGR1180375 BSBGR1252380 BSBGR1271398 BSBGR1271497 BSBGR1292493 BSBGR1312499 BSBGR1322498 BSBGR1361504

LAST CLOSE 5.30 39.95 2.04 2.31 2.50 6.05 9.25 3.30 7.90 2.66 7.16 13.00 2.08 10.10 11.87 10.75 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00 LAST SALE 100.00 100.00 107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 89.62 100.00 100.00 100.00

CLOSE 5.30 39.95 2.04 2.31 2.50 6.05 9.25 3.30 7.90 2.66 7.16 13.00 2.08 10.10 11.84 10.75 15.00 3.99 10.00 15.50 1.00 1000.00 1000.00 1000.00 1000.00 1.00 10.00 1.00

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00 52wk-Hi - Highest closing price in last 52 weeks 52wk-Low - Lowest closing price in last 52 weeks Previous Close - Previous day's weighted price for daily volume Today's Close - Current day's weighted price for daily volume Change - Change in closing price from day to day Daily Vol. - Number of total shares traded today DIV $ - Dividends per share paid in the last 12 months P/E - Closing price divided by the last 12 month earnings

VOLUME

6,000

100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

CLOSE 100.00 100.00

CHANGE 0.00 0.00

107.31 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 89.62 100.00 100.00 100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

FUND CFAL Bond Fund CFAL Balanced Fund CFAL Money Market Fund CFAL Global Bond Fund CFAL Global Equity Fund Leno Financial Conservative Fund Leno Financial Aggressive Fund Leno Financial Balanced Fund Leno Financial Global Bond Fund RF Bahamas Opportunities Fund - Secured Balanced Fund RF Bahamas Opportunities Fund - Targeted Equity Fund RF Bahamas Opportunities Fund - Prime Income Fund RF Bahamas International Investment Fund Limited - Equities Sub Fund RF Bahamas International Investment Fund Limited - High Yield Income Fund RF Bahamas International Investment Fund Limited - Alternative Strategies Fund Colonial Bahamas Fund Class D Colonial Bahamas Fund Class E Colonial Bahamas Fund Class F

MARKET TERMS

CHANGE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (0.03) 0.00 0.00 0.00 0.00 0.00

(242) 323‐2330 (242) 323‐2320 EPS$ 0.239 0.932 0.000 0.140 0.070 1.760 0.369 -0.438 0.140 0.184 0.449 0.722 0.102 0.467 0.646 0.728 0.816 0.203 0.939 0.631 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

VOLUME

DIV$ 0.170 1.260 0.020 0.080 0.000 0.000 0.260 0.000 0.000 0.120 0.220 0.720 0.434 0.060 0.328 0.240 0.540 0.120 0.200 0.610 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

INTEREST Prime + 1.75% 6.25% 6.95% 4.50% 4.50% 6.25% 6.25% 4.50% 6.25% 4.25% 5.40% 5.20% 5.22% 5.00% 5.00% 5.50% 5.55% 5.60% 5.65% 5.69%

NAV 2.50 4.67 2.20 204.67 199.97 1.72 1.83 1.81 1.01 9.37 11.79 7.54 15.94 12.47 10.74 N/A 10.43 14.89

YTD% 12 MTH% 0.34% 4.30% -0.06% 5.21% 0.21% 2.72% 1.37% 3.18% 8.18% 14.94% 0.26% 2.76% 0.36% 2.37% 0.28% 2.51% -1.31% -3.43% -0.02% 10.36% -0.33% 18.23% 0.22% 3.05% -3.89% 14.76% -1.04% -2.57% 0.81% 4.20% N/A N/A 3.00% 25.60% 7.90% 48.70%

P/E 22.2 42.9 N/M 16.5 N/M N/M 25.1 -7.5 56.4 14.5 15.9 18.0 20.4 21.6 18.3 14.8 18.4 19.7 10.6 24.6 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000

YIELD 3.21% 3.15% 0.98% 3.46% 0.00% 0.00% 2.81% 0.00% 0.00% 4.51% 3.07% 5.54% 20.87% 0.59% 2.77% 2.23% 3.60% 3.01% 2.00% 3.94% 0.00% 0.00% 0.00% 0.00% 0.00% 6.25% 7.00% 6.50%

MATURITY 19-Oct-2022 30-Sep-2025 20-Nov-2029 15-Dec-2021 30-Jul-2022 15-Dec-2044 30-Jul-2045 26-Jun-2022 26-Jun-2045 15-Oct-2022 4-Aug-2036 14-Jul-2037 13-Oct-2037 15-Oct-2038 15-Jan-2039 15-Jan-2049 15-Apr-2049 15-Jul-2049 15-Oct-2049 21-Apr-2050

NAV Date 31-Jan-2022 31-Jan-2022 28-Jan-2022 30-Sep-2021 30-Sep-2021 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Jan-2022 31-Mar-2021 31-Mar-2021 31-Mar-2021

YIELD - last 12 month dividends divided by closing price Bid $ - Buying price of Colina and Fidelity Ask $ - Selling price of Colina and fidelity Last Price - Last traded over-the-counter price Weekly Vol. - Trading volume of the prior week EPS $ - A company's reported earnings per share for the last 12 mths NAV - Net Asset Value N/M - Not Meaningful

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | CORALISLE 242-502-7525 | LENO 242-396-3225 | BENCHMARK 242-326-7333

more caution is required. It is unclear why the DEPP is still entertaining the project given the existence of the SEC lawsuit, which has frozen the Sahota’s assets, and resulted in the regulator and receivers seeking to sell-off the family’s aircraft to recover monies for investors. Dr Rhianna Neely, the DEPP’s acting director, could not be reached for comment yesterday. However, Ezra Russell, a prominent Cat Island resident, said he was aware of both the Almost Paradise project and planned virtual meeting, as well as the Sahota’s legal difficulties in the US. Revealing that the family looked at his Fortune Bay property, before deciding to take its interest elsewhere, Mr Russell said: “I don’t understand how the Government doesn’t vet these guys. This government has to tell them: We don’t need this Heads of Agreement; don’t sign that. We have to put a full stop to that. We can’t let it happen. We need to make sure these deals are above board.” Voicing concern that large tracts of prime Bahamian real estate could be tiedup in legal battles such as that involving the Sahota’s, he added: “We don’t need these investments to be tied up in court cases once they get started in Cat Island. The Government needs to do due diligence before they sign these agreements. They need to know who these people are, and where their money is coming from. Cat Island wants to know.” Rebecca Hollenbeck, an SEC accountant, alleged in an affidavit: “Based on my review of the bank records of the Sahota defendants and [their companies], those entities used funds transferred from the Heartland defendants for expenditures related to two private aircraft and real estate in The Bahamas, and they would have been unable to make those purchases without Heartland funds according to my analysis of the bank record activity.... “On March 18, 2021, and March 23, 2021, Barron Petroleum’s account at First State Bank wired approximately $779,000 and $640,000 respectively to a third party for the purchase of certain real estate in The Bahamas. Approximately $641,000 of that $1.41 total was funded with Heartland monies received from Dallas Resources’ account at Wells Fargo Bank.”

This raises the spectre that the Almost Paradise project would potentially be funded from misappropriated investor monies. And Magistrate Judge Hal Ray, in a March 18, 2022, verdict that rejected the Sahota’s bid to remove or adjust the freeze on their assets, noted: “On cross examination, Sunny Sahota testified his family could not have purchased the airplane, helicopter and properties in The Bahamas but for the $54m they received from Heartland.” The Almost Paradise project is targeted at a 50-acre parcel of land known as the Butler Tract. “The proposed development, ‘Almost Paradise’, is located on approximately 50 acres in southern Cat Island to the immediate south of Greenwood subdivision,” the EIA said. “Almost Paradise is a $60m capital expenditure for a mixed-use development featuring a resort, villas, single family home, amenities and back-of-house operations to be constructed over three phases. Total developed areas including built infrastructure comprise approximately 60 percent of total land area. “Land use in the area is characterised by haphazard development of the residential Greenwood Subdivision and the Greenwood Resort (hotel/restaurant). Several homes are located along the road to the proposed Sahota development though the subdivision remains largely undeveloped. The nearest settlement is Port Howe, Cat Island,” the document added. “Over the past several decades, Cat Island has experienced a contraction of its population. Almost Paradise offers a mixed-use development with opportunities for local employment. The development may also spur construction activity in the adjacent Greenwood subdivision.” However, it appears that the land purchase has yet to close. John Christie, president of real estate firm, H. G. Christie, confirmed that he was representing the vendor but declined to go into detail citing confidentiality conditions. “Hopefully it all goes through,” he said. “I haven’t seen any plans. It would be good for Cat Island and its residents. It’s a beautiful location, beautiful beach and Cat Island certainly needs it. Everything has got to be approved by the Government.”

NOTICE NOTICE is hereby given that JOSÉ LUIS HERNANDEZ of South Beach, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29rd day of March, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

PAGE 8, Tuesday, March 29, 2022

THE TRIBUNE

BODY AND MIND

Plant-based diet and diabetes management Zoom conference to help Bahamians better manage their health condition By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

PEOPLE living with diabetes may find incorporating a plantbased diet into their lives may by beneficial to managing the condition. To give more information and insight into how a plant-based diet works in tandem with diabetes management, ACE Diabetes is highlighting the subject during

a special Zoom meeting this evening. Nutritionist Brianne Pritchard will discuss how to eat a plantbased diet in balance without over-increasing blood glucose levels. She will provide examples of meal plans and will take questions and comments. Nurse Anita Cates, host of the event and a diabetes educator, said the information to be shared in the meeting will be very useful in helping those living with diabetes to decipher plans that can improve their overall health.

“A plant-based diet should be very low in simple sugars, high in fibre, plant protein (such as beans) and plant-based fats,” she said. “Many people stop consuming animal products and do not replace them with the right type of plant protein, if any. This causes a diet to be very high in carbohydrates, which increases blood sugar dramatically.” ACE Diabetes was established in 2012 to address the overwhelming need in the Bahamas for diabetes awareness and tackle the challenge of managing diabetes

on a daily basis. The ultimate goal is to reduce the burden of diabetes on individuals, families, communities and healthcare systems, and, by supporting good health, prevent or delay the onset of diabetes-related long-term complications. One way ACE Diabetes helps to create awareness and educate is through classes. The classes are part of ACE Diabetes free diabetes educational series. “Education is the key to successfully getting and keeping your diabetes under control. You are the most important member of your diabetes management team. We aim to provide you with the information necessary to control your blood sugar and live a healthy life. From basic information to tips for living well with diabetes to specialised advice – these one-hour presentations are for anyone who lives with diabetes or is interested in learning more,” said Nurse Cates. Its “Food for Thought” Zoom series gives people the opporunity

N UR S

at E A n ita C

to be aware of, discuss and consider which dietary approach would best suit them. “A plant-based diet is an option when it is planned and executed well. One diet does not suit everyone’s needs and wants. Facilitating discussions around different diets gives an individual an opportunity to choose a plan which fits into their life,” said Nurse Cates. To register for today’s Zoom meeting, visit acediabetes.org/ zoom.

Which colorectal cancer screening method is right for you?

is recommended,” Dr Jimenez Cantisano says, “so it is not often performed as a screening for colorectal cancer.”

Colorectal cancer (or colon cancer) can be deadly — but early screenings by detecting colon cancer earlier than ever before are saving lives in the Bahamas. And although a colonoscopy is the gold standard in cancer screenings, it’s not the only method to detect this disease. So what is colorectal cancer? First of all, your colon is a key part of your digestive system. It is the longest part of the large intestine (a tube-like organ connected to the small intestine at one end and the anus at the other). The colon removes water and some nutrients and electrolytes from partially digested food. Colorectal cancer is a malignant tumor on the lining of the large intestine. It’s the third leading cause of cancer-related deaths in the Bahamas, but it’s also highly treatable and curable when doctors find it early. Colon cancer usually begins as a noncancerous growth called a polyp, which grows on the inner lining of your colon. These polyps develop over time — typically anywhere from 10 to 20 years. Gastroenterologist Brenda Jimenez Cantisano, MD at Cleveland Clinic Florida’s Weston Hospital, discusses options for colorectal cancer screenings, from the traditional colonoscopy and beyond, and how to know which is best for you.

There are a few common types of stool-based tests:

When to get a colorectal cancer screening Because colon cancer tends to grow slowly, you may not experience any symptoms of the disease — which is why it’s so important to have regular screenings to catch problems before they arise. Your risk of colorectal cancer increases as you age, and current guidelines say you should start being screened at age 45. If you have a family history of

result, a colonoscopy will be indicated for further evaluation.” Before a colonoscopy, your bowels must be completely empty, so there’s some pre-procedure prep work involved — and although it can be unpleasant, it’s key to the procedure being successful. “If there is stool covering or coating the colon, the endoscopist will not be able to fully visualize the colon and some polyps may be missed,” Dr Jimenez Cantisano explained.

2. CT colonography colon and rectal cancers, though, talk to your doctor about getting screened earlier. In recent years, cases of colorectal cancer have increased significantly in younger adults ages 20 to 49. It’s vital that you see your doctor if you start experiencing any warning signs of this cancer before you’ve ever been screened. “Early colorectal cancer has no symptoms, but when it starts to become more advanced, there are certain things you shouldn’t ignore,” Dr Jimenez Cantisano said. You should talk to your doctor if you have: Bloody stool Black stool Changes in the shape of your stool. Frequent cramping in your lower belly. Painful bowel movements. Rectal bleeding.

What are the options for colorectal cancer screening? The most common screening evaluation is a colonoscopy, a short procedure to examine your large bowel. But there are other

ways, too, including blood tests, DNA stool tests and more. Each has their pros and cons, including overall effectiveness, amount of prep work and time required. Dr Jimenez Cantisano explains them.

1. Colonoscopy Of the colorectal cancer screening options, colonoscopy has the highest ability to detect colon cancer and polyps, up to 70 percent. This test allows your doctor to see inside of your large intestine using a flexible camera called a scope. This procedure may or may not require sedation, such as conscious sedation (“twilight”) or general anesthesia. A colonoscopy checks for symptoms like bleeding, as well as polyps and other possible signs of cancer. Importantly, during a colonoscopy, your doctor can both detect and remove a polyp. “A colonoscopy has the benefit of being a one-step test, whereas other tests, like stool-based testing, may require two steps,” Dr Jimenez Cantisano said. “If a stool-based test has a positive

This type of procedure, also known as a virtual colonoscopy, also requires you to empty your bowels ahead of time, but you don’t have to be sedated during the procedure itself. If your virtual colonoscopy detects a polyp, your doctor will recommend a standard colonoscopy. A colonoscopy itself can’t tell the difference between nonprecancerous and precancerous polyps. For this, you’ll need a biopsy (tissue sample), which can be done during the process of a regular colonoscopy but not during a virtual colonoscopy. (This is why you’ll need to follow up with a colonoscopy.)

3. Flexible sigmoidoscopy Similar to a colonoscopy, a flexible sigmoidoscopy is an outpatient procedure performed in a medical setting. It also requires prep work to empty your bowels. But the flexible sigmoidoscopy only evaluates the left side of your colon. It can be used to evaluate conditions like ulcerative colitis, and can detect polyps — but only on your left side. “If you have a precancerous growth on the left side, a second test, like a colonoscopy,

4. Stool-based tests

Faecal immunochemical test (FIT): This test looks for hidden blood in your stool and can detect early cancer, as well as large, advanced polyps. Faecal occult blood testing (FOBT): Once the stool test of choice for screening, FOBT is similar to FIT, but requires three blood samples instead of one, and you have to modify your diet before giving those samples. Because of this, FIT is now the preferred option. Stool DNA test: This test looks for abnormal DNA associated with polyps and colorectal cancer. “The benefit of these tests is that you can do them at home,” Dr Jimenez Cantisano said. “You do not need to do special preparation or a diet in advance of them, and they can be done at home, with no time taken off work to complete them.” Again, though, if these tests come back positive, a colonoscopy will be recommended.

Which screening is right for you? Before scheduling any screening tests, speak with your primary care doctor, who’ll go through the options with you. To learn about your specific risk factors, they’ll ask about your family health history and your own history, including age, race, current health conditions, lifestyle habits and more. This information will help determine which test is right for you. “The best screening test, though, is the test that gets done, period,” Dr Jimenez Cantisano said, “so speak with your physician, and make sure you get screened at an appropriate time.”

THE TRIBUNE

Tuesday, March 29, 2022, PAGE 9

How to detect and treat testicular cancer April is Testicular Cancer Awareness month. Testicular cancer is relatively rare. There are about 9,000 cases of testicular cancer in the United States every year. Men in general have about a 0.4 percent chance of developing testicular cancer in their lifetime. About one in 250 men will develop cancer of the testicles in their lifetime; whereas about one in six men will develop prostate cancer in their lifetime. It, however, is the most common cancer found in men between the ages of 15 and 40 years old, when few expect to be afflicted by cancer. Testicular cancer makes up about one percent of cancers in all men but it accounts for 13 percent of cancers in men age 15 to 40 years old The average age at diagnosis is 33. There are several misconceptions regarding testicular cancer; it is not caused by wearing tight underwear or by frequent masturbation.

Risk factors The risk factors of testicular cancer include a first-degree relative having a history of testicular cancer or a personal history of testicular cancer involving the other testicle; the occurrence of an undescended testicle that is not surgically treated by age 13; material exposure to certain toxins or hormones during pregnancy; reduced sperm formation; infertility and certain gene mutations

THE UROLOGY DOCTOR IS IN...

Dr Greggory Pinto

and hypospadias which is a congenital abnormality of the penis and urethra. Caucasian men have a much higher incidence of testicular cancer than men of African ancestry. White race is a risk factor for testicular cancer. Studies have shown, however, that men of African ancestry usually present for treatment at a more advanced stage than their Caucasian or other racial counterparts. Almost all testicular cancers originate in the germ cells. There are two main types of germ cell tumours, seminomas and non-seminomas. Seminomas have an excellent prognosis for cure and there is no poor prognosis even when there is

advanced spread of the seminoma cancer throughout the body. Non-seminoma testicular cancer also has a slightly less promising but still a very good cure rate. Non-seminomas usually are more aggressive and spread more rapidly than seminomas. Testicular tumours may have a non-seminoma and seminoma component, mixed germ cell tumors and they are treated as nonseminomas. Seminomas are more sensitive to radiation. Rarer forms of testicular cancer include lymphomas, rhabdomyosarcomas or even rarer metastatic spread from another primary cancer. As with all cancers, early diagnosis leads better cure rates. Most germ cell testicular tumours have a 99 percent five-year survival rate when diagnosed at an early stage.

Signs and symptoms of testicular cancer Fear, embarrassment or at times ignorance often leads men to hide or ignore signs of a testicular cancer. Men often mistake early signs of testicular cancer with a wrongly self-diagnosed sexually transmitted disease and there is often a prolonged delay in seeking the attention of a urologist. Ninety percent of testicular cancers are painless and usually present as a pea or marble-sized small mass in one or rarely both testicles. Men with testicular cancer often experience a vague

heaviness on the affected side of their testicle or an increase in fluid around the affected testicle and they may have breast enlargement or pain. Advanced testicular cancers may present with abdominal pain or back pain, possible enlarged lymph nodes in the neck and lung metastasis that could present with shortness of breath, cough, or chest pain. Cancer of the testicles can spread to the lymph nodes around the aorta, the main artery of the body. Advanced cancer of the testicles could lead to a deep vein thrombosis of usually the legs which present with pain and swelling but less commonly the upper limbs may be affected. Early diagnosis of testicular cancer does not require regular visits to your urologist or routine screening blood tests; it simply involves men doing self- exams in the shower for example, once a month. If a man detects an abnormality, then promptly seek the confidential opinion of a urologist. Early diagnosis could mean a straightforward outpatient curative surgery versus advanced testicular cancer requiring often multiple surgeries with chemotherapy and radiation therapy.

How to self-exam Take hold of your testicle between your thumbs and forefingers and then gently roll it, feeling for lumps and masses. Then repeat the process for the other side. In the shower, the warmth and humidity relaxes

your scrotum and makes the process easier. Any change in size, consistency, texture of the testicle or if lumps or masses are felt, should initiate a prompt visit to a urologist. A urologist would start with a thorough history then a physical exam and imaging of the testicles with an ultrasound may be ordered with a staging CT scan or MRI scan. There are specific testicular tumor markers blood tests that may be taken that may be elevated depending on the type of testicular cancer. These testicular tumour marker blood tests are not routine screening tests but specific blood tests requested only when there is an abnormal physical exam or abnormal imaging result. Do not let fear, embarrassment or misconceptions prevent you or a male that you love being diagnosed with advanced testicular cancer. Monthly self-exams are the key, along with the willingness to seek immediate confidential and compassionate urology care when any concerns present themselves. • Dr Greggory Pinto is a board-certified Bahamian urologist and laparoscopic surgeon. He can be contacted at OakTree Medical Center #2 Fifth Terrace and Mount Royal Avenue, Nassau, Bahamas; Telephone – (242) 322-1145-7; email: welcome@urologycarebahamas.com or visit the website:www.urologycarebahamas.com

REPRESENTATIVES from Willie Mae Pratt Centre for Girls as well as representatives from Sandals Royal Bahamian.

Sandals Royal joins fight against ‘period poverty’ The Willie Mae Pratt Centre for Girls on Fox Hill Road recently received a sizeable donation of menstrual health and hygiene supplies courtesy of Sandals Royal Bahamian. This formed part of the resort’s efforts for Women’s History Month as they endeavoured to join in the fight against period poverty as well as to give back to young women on the island. The institution’s students and staff also received hot meals and beverages from the resort. Among the items donated were sheets, bath towels, soaps, sanitary napkins and hand sanitisers. Period poverty speaks to the lack of access to menstrual products, menstrual health education, hygiene products as well as facilities and waste management. It is a phenomenon that affects over 500 million women worldwide. Sandals Royal Bahamian’s hotel manager, Deryk Meany, was on hand to provide pep talks to the young women and assured them that the resort will continue to collaborate with the centre on future initiatives. “It is important that as we break the bias which is the theme for Women’s History Month, we start by breaking the stigma attached to menstrual health which is that it is solely a woman’s issue. It is a crucial concern in our society and I am delighted that our resort, Sandals Royal Bahamian decided to embark on this journey, advocating for an end to period poverty. This is the first of many collaborations with Willie Mae Pratt Centre for Girls. We believe in the power of community and we love what this noble institution is doing for young women here,” he said The Centre’s superintendent, Monique Greenslade, commended the resort for the

“It is important that as we break the bias which is the theme for Women’s History Month, we start by breaking the stigma attached to menstrual health which is that it is solely a woman’s issue. It is a crucial concern in our society...” three community-focused projects that the resort has undertaken so far for the month of March. They earlier donated items to the Nazareth Centre and nonprofit organisation FOAM (Families of all murder victims) through its leader, Khandi Gibson. Sandals Royal Bahamian’s Public Relations Manager, Renee Deleon was keen to note that one of the resort’s main objectives since its reopening is to impact more lives positively.

“The resort is re-imagined in every sense. The aim is to delve deeper into the communities, to make an even greater impact and help to transform lives, positively. We are pleased, that our efforts for Women’s History Month have forged some meaningful partnerships with various entities. This is indicative of what is meant by community and we are serious about our mission to show care and concern for the ones in which we operate,” she said.

SANDALS Royal Bahamian’s Hotel Manager Deryk Meany has a chat with Monique Greenslade, superintendent at Willie Mae Pratt Centre for girls. initiative and stated that she is elated about the future prospects. “We are so grateful that you all saw it fitting to leave your offices to come join us here. We are taken aback and we are appreciative that you decided to take the time to visit us. You all are our newest partners and together we

can make a difference in the lives of young women who come here. Together we can change lives for a safer Bahamas. I know with Sandals by our sides, greater things are going to happen,” said Ms Greenslade. The donation to Willie Mae Pratt Centre for Girls is one of

COLIN WATSON, Executive Chef at Sandals, stopped by Willie Mae Pratt Centre for Girls, where he along with other members of his team provided lunches for the young women and the Centre’s team members.

PAGE 10, Tuesday, March 29, 2022

THE TRIBUNE

The gift of sweetness

than a year she’ll be preparing to leave for college and as a parent it’s important to me for her to learn business early in the event she chooses to open her own business,” she said.

By ALESHA CADET Tribune Features Writer acadet@tribunemedia.net

Two things are true of Nikolette Elden. One, she loves to brighten people’s days with her creative gift-giving, and two, she is passionate about representing her beloved Eleuthera. The self-described “barefoot island gal” from Current has combined her two loves; turning her gift-giving hobby into a business which she has named after an Eleutheran staple: the sugarloaf pineapple. “Eleuthera is synonymous with sweet, succulent sugarloaf pineapples. It is believed that they are the sweetest on the planet,” she told Tribune Woman. “I recall fond memories of my Dad bringing home crates of pineapples during the pineapple season, only to be devoured in days.” Other childhood memories of Nikolette’s include attending the annual Pineapple Festival in Gregory Town, Eleuthera. “When I started brainstorming ideas on what to name my business, I wanted the name to represent my island and my love for country, and so the name Sugarloaf Gifting and Teas was birthed,” she said. Nikolette always viewed herself as a corporate professional and didn’t think she had the time to pursue other interests. But the COVID-19 pandemic forced her to rethink her perception of “work”, and with this in mind she started out assisting her sister with making face masks. She then

had a couple of brainstorming sessions related to her own interests. “Believe it or not, it took me a few days to figure that out. I had lost myself in my career. That day was sobering for me,” she said. “I am a sentimental person and I’m known for my gift-giving. Anyone close to me or who has ever received a gift from me always appreciates the thought that I put into my gifts. So why not turn it into a business and help those who may find choosing a gift a daunting exercise?” Sugarloaf is a boutique that offers gifts for corporate, bridal, and other celebratory occasions. Nikolette also offers luxury loose

leaf teas and an array of ceramic and glass teapots. “The business was created in November of 2020. I’ve learned to be patient. Success doesn’t come overnight. It takes consistency. It takes being committed to the process. It also takes discipline. COVID-19 forced me to think creatively in order to have a fallback plan,” said Nikolette who works alongside her daughter at Sugarloaf. “We are a duo. My daughter serves as our creative director and it brings me pure joy to work alongside her, to learn from her as well as share the benefits of being an entrepreneur with her. In less

PROUD Eleutheran Nikolette Elden has turned her passion for gift-giving into a business

Having worked in several maledominated industries during her career, for Nikolette it’s refreshing not having to fight for a place at the table. She believes as an entrepreneur, individuals have an opportunity to own their own spaces and that alone is gratifying. “Too often, we think the grass is always greener on the other side. The grass is greener where you water it. I am grateful for the opportunity to be an entrepreneur where I can create products and in return contribute to the economy. I have the opportunity to say I did that,” she said. And the feedback so far, Nikolette said, has been heartwarming. “Whether it’s a gift that you’ve created for a customer and both the giver and receiver are happy, makes my heart glad. When I create a specialty drink with my teas and people come back for seconds, thirds, fourths, telling me how good it is or how much they enjoyed it, gives me wind in my sails to keep me sailing,” she said. “I have always been customercentric and serving them is what I enjoy doing. I thought about expanding into retail, but at the moment I am savouring the process. I have plans to introduce more flavours to my tea line for Spring/Summer and more in time for the holidays. I am currently working on an event which I hope to launch in May/June.”

Blue Lagoon Island celebrates first all-female boat crew For the first time in the company’s more than 30-year history, Blue Lagoon Island, the home of Dolphin Encounters, welcomed its first all-female boat crew just days after celebrating International Women’s Day. Captain Joenise Marshall and her first mate Jasmaine Lord created quite a scene at the Port of Nassau as visitors noticed the unusual site and asked to take their photograph. Marshall, who only recently joined the company, has worked as a captain for 11 years and holds her Class B Captain’s License. She enjoyed the attention and said she wasn’t at all phased by any additional pressure being the first, but feels it is beyond time for this to be something so rare. “It is a bit bittersweet that in 2022 we are still in a place that an all-female crew is unusual, but it’s a start for us to raise the mark. It’s 2022 and we as women have to go get it,” she said. First Mate Lord has worked with the company for three years and before that worked on the mail boats out of Potter’s Cay and also gained international experience with a shipping company sailing around South America. The day she worked with Captain Marshall, however, was the first time in her entire career that she had the opportunity to be led by a female captain.

CAPTAIN Joenise Marshall and Jasmine Lord “In my whole entire career this is the first time I’ve worked under a female captain. I’m so used to working on ferry boats but always with the guys,” she said, adding “Today it was incredible. This was the most compliments I’ve ever gotten in one single day. It was amazing and I do look forward

to doing this again and hopefully soon our other female mate will be able to join us onboard next time and make it even better.” Both women have their sights set on taking charge of some of Blue Lagoon Island’s larger vessels. In fact, Marshall says the diversity of the company’s fleet

is something that particularly excites her as she will have the opportunity to learn and develop her skills even further. Lord first wanted to pursue a career in marine biology and says if she could do both, she would, but for now, her true passion lies in working on the boats.

Bahamian dancers win at international competition On March 17, the Bahamas Dance Theatre Competition Team travelled to Fort Lauderdale to compete in the 10th annual “Shake the Ground Dance Competition”. After rehearsing tirelessly for several months, the competition team, under the direction of Colette Parker, offered nine entries – eight solos and one trio performance. The team brought their Bahamian flavour to the stage where they secured several victories. Dancers were also able to participate in a master class hosted by judge and choreographer Brandon Bryant. Judges were extremely critical this year and the competition was exceedingly talented. Top awards secured by the Bahamian competition team were: • First place and “Most Dynamic Duo/ Trio” – “Mama”; performed by Chelsey Higgs, Hannah CHELSEY HIGGS, Hannah O’Connor and Jaylah Nicholls and their O’Connor and Jaylah Nicholls winning performance of ‘Mama’ • Junior Novice Solo fourth place – Jaylah Nicholls

JAYLAH Nicholls

• Senior Novice Solo third place – Hannah O’Conno • Senior Novice Solo first place – Trinity Burnside • Pre-professional Novice Solo second place – Cherish Pennerman • Pre-professional Novice Solo first place – Chelsey Higgs • Primary Shakers Novice seventh place – Sydnee Hield The team thanked its sponsors: The Grand Bahama Port Authority, Aliv, Preston Knowles Photography, Paint Fair Bahamas, Meat Market Place, Sawyers, and Baha Green Compostables. CHERISH Pennerman

SYDNEE Hield

For Marshall, it seems she was destined to end up working in the industry as it is very much a family affair. “From a very young age, my Dad who is a captain with his master’s license used to take us kids, all girls, out. We grew up from little girls learning how to tie ropes and now, all of my sisters are also in the industry. I love the water, so that’s how I got into it and just never looked back,” she explained. As for what she would say to other young Bahamian girls considering a career on the sea, she says simply “If you have a passion for it, then go for it. There is no limit.” Home to native Atlantic Bottlenose dolphins, California sea lions, native Southern stingrays and Bahamian nurse sharks, Dolphin Encounters continues to set the standard for marine animal interactive programmes in the world. Blue Lagoon Island is American Humane certified and is a Travelife Partner and also became the first Bahamian business to successfully obtain the Safe Travels accreditation for its COVID-19 safety protocols. Owned and operated by a local family, Blue Lagoon Island is a private island experience that provides guests with authentic, eco-friendly, sustainable, Bahamian experiences.

THE TRIBUNE

Tuesday, March 29, 2022, PAGE 11

les

in online and distance learning. Activities will include presentations and short lectures by inspirational leaders, group discussions, mentoring sessions, project work and presentations. The workshop activities are designed to impart the knowledge, skills and confidence women leaders need to move up through the system; help build a network of role models and mentors who will provide ongoing guidance and provide the encouragement and support women leaders need to realize their full potential. Also, open education resources in research, teaching and

ean

Dr P

ic D

The Bahamas Technical and Vocational Institute (BTVI)’s Academic Dean, Dr Pleshette McPhee, has been accepted into the Commonwealth of Learning, Pan-Commonwealth Training Programme on Women and Leadership in Online and Distance Learning (ODL). The Commonwealth of Learning (COL) is organising the training in collaboration with Wawasan Open University. It is expected to be an intensive and interactive virtual workshop, slated for March 30 through April 1. The focus will be on various aspects of leadership

learning will be introduced Phee, BTVI A filled with great pride and Mc ca gratitude, having been and integrated. e t d et chosen to represent Dr McPhee said our institution,” said she is excited about Dr McPhee. the opportunity “BTVI has made to not only repstrides and has resent BTVI, risen to a level of but the women excellence in its of BTVI. She delivery of online noted that the best education that rivals events throughout many other TVET her 32-year career in colleges and universieducation have been ties. I feel my participation opportunities for training, in this event is another gem in empowerment and transformation. our crown as it relates to growth “A litmus test for leadership is and development,” she added. how leaders show up for opporMeanwhile, BTVI’s president, Dr tunities like these. I look forward Robert W Robertson, said the instito the Pan-Commonwealth Pro- tution is pleased that Dr McPhee gramme on Women and Leadership has been chosen to participate in in Online and Distance Educa- the training. tion Workshop, the short lectures, “Locally, BTVI has been a leader the group sessions, the mentoring, in the introduction of online and the networking, the presentations distance learning which continues and other activities. I am equally to be an important option for many anxious to share the nuggets I will students across the country, includyield from this experience and am ing our family islands. Additionally,

BTVI’s Academic Dean selected for panCommonwealth women and leadership workshop

with this year’s International Women’s Day theme being, ‘Break the Bias,’ it is fitting that the COL is having a training programme specifically for women and focused on leadership in online and distance learning,” said Dr Robertson. “Since the onset of COVID-19, online learning has been central to the continuity of instructing our students. Further, we are constantly improving our virtual education options, so when the Commonwealth of Learning launched the International Partnership of Distance and Online Learning for COVID-19 initiative with 44 global partners, BTVI did not hesitate in accepting the invitation to be a partner in this global exercise,” he added. The COL, headquartered in Canada, is the world’s only intergovernmental organisation solely concerned with the promotion and development of distance education and open learning.

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 89° F/32° C Low: 65° F/18° C

TAMPA

TONIGHT

WEDNESDAY

THURSDAY

FRIDAY

SATURDAY

Partly sunny and nice

Clear to partly cloudy

Partly sunny and windy

Sunshine with winds subsiding

Humid; breezy in the morning

Sunshine and humid

High: 81°

Low: 72°

High: 81° Low: 72°

High: 83° Low: 74°

High: 85° Low: 73°

High: 84° Low: 74°

AccuWeather RealFeel

88° F

70° F

83°-70° F

86°-76° F

93°-77° F

High: 87° F/31° C Low: 68° F/20° C

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

almanac

ABACO

High: 79° F/26° C Low: 71° F/22° C

4-8 knots

High: 84° F/29° C Low: 71° F/22° C

4-8 knots

FT. LAUDERDALE

FREEPORT

High: 83° F/28° C Low: 73° F/23° C

W S

WEST PALM BEACH

| Go to AccuWeather.com

High: 82° F/28° C Low: 70° F/21° C

MIAMI

High: 84° F/29° C Low: 73° F/23° C

6-12 knots

Statistics are for Nassau through 2 p.m. yesterday Temperature High ................................................... 79° F/26° C Low .................................................... 66° F/19° C Normal high ....................................... 80° F/27° C Normal low ........................................ 67° F/19° C Last year’s high ................................. 87° F/30° C Last year’s low ................................... 71° F/21° C Precipitation As of 2 p.m. yesterday ................................. 0.00” Year to date ................................................. 6.36” Normal year to date ..................................... 4.39”

ELEUTHERA

NASSAU

High: 81° F/27° C Low: 72° F/22° C

High: 79° F/26° C Low: 72° F/22° C

KEY WEST

High: 80° F/27° C Low: 74° F/23° C

tiDes For nassau High Today

6-12 knots

7-14 knots

Low

Ht.(ft.)

2.9 2.7

12:09 a.m. -0.1 12:52 p.m. -0.2

Wednesday 7:17 a.m. 7:42 p.m.

3.0 2.8

1:05 a.m. -0.2 1:37 p.m. -0.3

Thursday

8:02 a.m. 8:27 p.m.

2.9 3.0

1:56 a.m. -0.3 2:19 p.m. -0.4

Friday

8:45 a.m. 9:09 p.m.

2.8 3.0

2:43 a.m. -0.4 2:59 p.m. -0.4

Saturday

9:26 a.m. 9:49 p.m.

2.7 3.0

3:27 a.m. -0.3 3:37 p.m. -0.4

Sunday

10:05 a.m. 10:28 p.m.

2.5 2.9

4:10 a.m. -0.2 4:13 p.m. -0.3

Monday

10:44 a.m. 11:08 p.m.

2.3 2.8

4:52 a.m. -0.1 4:50 p.m. -0.1

sun anD moon Sunrise Sunset

7:05 a.m. 7:25 p.m.

Moonrise Moonset

5:40 a.m. 5:09 p.m.

New

First

Full

Last

Apr. 1

Apr. 9

Apr. 16

Apr. 23

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 79° F/26° C Low: 72° F/22° C

High: 79° F/26° C Low: 74° F/23° C

High: 79° F/26° C Low: 72° F/22° C

W S

LONG ISLAND

tracking map

High: 80° F/27° C Low: 73° F/23° C

Ht.(ft.)

6:27 a.m. 6:53 p.m.

High: 80° F/27° C Low: 72° F/22° C

Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

CAT ISLAND

uV inDex toDay

7-14 knots

MAYAGUANA High: 80° F/27° C Low: 77° F/25° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 79° F/26° C Low: 73° F/23° C

High: 79° F/26° C Low: 72° F/22° C

GREAT INAGUA High: 82° F/28° C Low: 73° F/23° C

10-20 knots

12-25 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday: Today: Wednesday:

WINDS NE at 4-8 Knots ESE at 10-20 Knots NE at 6-12 Knots ESE at 10-20 Knots NE at 7-14 Knots E at 10-20 Knots NE at 10-20 Knots E at 12-25 Knots NE at 6-12 Knots E at 10-20 Knots SSE at 4-8 Knots ESE at 10-20 Knots NE at 7-14 Knots E at 12-25 Knots NE at 12-25 Knots ENE at 12-25 Knots NE at 8-16 Knots E at 12-25 Knots NE at 10-20 Knots ENE at 12-25 Knots NE at 4-8 Knots E at 10-20 Knots NE at 10-20 Knots E at 12-25 Knots NE at 7-14 Knots E at 10-20 Knots

WAVES 2-4 Feet 3-5 Feet 1-2 Feet 1-2 Feet 2-4 Feet 4-7 Feet 3-5 Feet 4-8 Feet 2-4 Feet 4-7 Feet 1-2 Feet 1-3 Feet 1-2 Feet 1-3 Feet 3-5 Feet 4-7 Feet 2-4 Feet 4-7 Feet 4-7 Feet 5-9 Feet 1-2 Feet 2-4 Feet 3-5 Feet 4-7 Feet 1-2 Feet 2-4 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 76° F 77° F 77° F 75° F 78° F 77° F 80° F 80° F 77° F 77° F 77° F 77° F 78° F 78° F 80° F 80° F 79° F 79° F 79° F 79° F 77° F 77° F 79° F 79° F 77° F 77° F

A royal encounter

SECTION B

TUESDAY, MARCH 29, 2022

Eight-year-old Aniah Moss makes her parents and the Bahamas proud By JEFFARAH GIBSON Tribune Features Writer jgibson@tribunemedia.net

THE Duke and Duchess of Cambridge Prince William and Kate Middleton bid farewell to the Bahamas over the weekend after their Caribbean tour for the Queen’s Platinum Jubilee came to a close, but not without etching their place in the country’s history and leaving lasting memories for many Bahamians. Eight-year-old Aniah Moss was one of first Bahamians to meet Prince William and Kate, exchanging pleasantries with them after they disembark from their plane upon arrival in New Providence last Thursday. Aniah greeted the Royals with a bouquet of flowers on the tarmac at the Lynden Pindling International Airport and engaged in a brief exchange with the couple. Afterwards, Aniah took a bow and was escorted away. “I was not nervous at all. My Papa said, ‘Baby, just do the best you can’, and he showed me how to bow. I practiced a lot,” she told Tribune Woman. For the special occasion, Aniah wore a soft pink floral embroidered dress. Her mother, radio personality Kendenique Campbell-Moss, purchased the dress during a visit to Aniah’s father, Aaron Moss, who resides in Dubai. Aniah wore the dress with a pair of white gloves and new pearl earrings “my Nana bought me.” A second grader at Xavier’s Lower School, Aniah said the opportunity to greet the Royal couple was a completely unexpected task, but one she took great delight in. “I was very excited to be asked. When the phone rang and Mommy asked me if I would do it, I said, ‘Yes, Mommy, and I will

ANIAH Moss greets the Duke and Duchess of Cambridge on the tarmac at Lynden Pindling International Airport make you and the Bahamas very proud. “I knew I could do it and I wanted to wear my Easter dress my Mommy got it when we were in Dubai last Summer. My Daddy lives there,” she explained.

While accepting the bouquet presented to them, both Prince William and Kate took a moment to have a brief minute chat with Aniah. “The lady said, ‘You are beautiful’. She asked me about my

ANIAH Moss with her mother, radio personality Kendenique CampbellMoss dress I know she likes pink so that’s why I wore it. I told her my Mommy got this in Dubai. The Prince asked me where did I get the flowers. They both said ‘thank

you’ and that I am beautiful,” she said. Aniah’s father, Aaron Moss, who was in Nassau only for a short visit, watched the encounter on Facebook and commented under one livestream video: “That’s my baby girl.” From the tarmac, Aniah’s mother Kendenique kept him in the loop, letting him know minute by minute how things were unfolding. “I was elated and shared the content with everyone I knew, from India to Hong Kong. I wanted them to see my princess, my child. I was commenting on everything, letting the world know that’s my baby,” he said. “Seeing Aniah made me very proud. She is an only child and (Kendenique) builds her confidence. I instil in her self-love. We want her to know she is loved beyond measure. This was her moment to shine and of all of the girls she is my one and only girl. I love her I am very proud of the young lady (Kendenique) is (raising) her to be,” said Aaron. To witness this moment was a truly overwhelming experience, Kendenique told Tribune Woman. “The opportunity to be part of such an amazing experience was exhilarating for my baby girl. To watch her come into her own and be herself, to see her exude such confidence, such grace… it made my heart jump...I’m very outgoing and extra, so to contain myself was a task. I wanted to shout ‘That’s my baby’. I held my hand over my mouth, the tears rolled down my face,” she said. And according to her mother, Aniah is quite aware she was part of a historic moment. “She googled her name and was tickled pink,” said Kendenique.

Will Smith’s slap both lauded and criticised by Bahamian women By CARA HUNT Tribune Features Writer cbrennen@tribunemedia.net

It is being called the slap that was heard around the world; the slap that is being talked about by absolutely everyone, young and old. And it’s the incident which has probably given the Academy Awards the most attention they’ve enjoyed in years. We are talking of course about the moment when Best Actor winner Will Smith walked onto the Oscar stage and hit Chris Rock across the face after the comedian made a joke about Will’s wife Jada Pinkett-Smith’s bald head. Jada shaved her head bald after announcing that she suffered from the autoimmune condition alopecia, which causes hair loss. Chris compared her look to that of Demi Moore in the movie “GI Jane”. Although it appeared as if he was amused by the joke at first, when Will realised his wife was not happy about, he decided to walk up to Chris, slap him, before returning to his seat and warning the host to “keep my wife’s name out your (expletive) mouth.” Social media went crazy following the incident, with most people immediately declaring if they were Team Chris or Team Will. Less than an hour after the incident, Will was again on the Oscar stage, this time to accept his Oscar for Best Actor for his portrayal of Richard Williams, father of tennis stars Serena and Venus Williams, in the movie “King Richard”. While he did not make a direct apology, Will said: “I’m being called on in my life to love people and to protect people and to be a river to my people. Now I know, to do what we do, you’ve got to be able to take abuse. You got to be able to have people talk crazy about you. In this business, you’ve got to be able to have people disrespecting you, and you’ve got to

WILL Smith slaps Chris Rock

smile and you’ve got to pretend like that’s OK” His comments have a sparked a massive debate online. Was his violent outburst just him being good husband defending his wife? Or did Will overreact and commit an act of violence? Bahamians, of course, wasted no time in weighing in on the hot debacle. Marie Smith said: “I am the biggest Will Smith fan, from ‘Fresh Prince’ days and I have watched all his movies, but last night was a huge no for me. Chris read the room, he realised that his joke was inappropriate and was starting to defuse the situation. Will was laughing at first until he saw Jada’s reaction. What upsets me is that after all this time Will finally gets his well-deserved Oscar and what should have been the biggest professional night in his life is now reduced to jokes and memes. All anyone will remember is the

JADA Pinkett-Smith arrives at the Oscars on Sunday. (AP Photo_John Locher) slap. He could have and should have handled that better. You are Hollywood royalty, not some thug on the side of the road. I wanted him to handle that better.” Lisa Rolle said as a wife, she would want her husband to have her back if someone behaves inappropriate towards her, but she said the Oscar stage was not the place for Will to act as he did. “That was a big night for him. As his wife, I would have sucked that joke up even if I was hurt, kept a smile on my face, because him having that moment was bigger than me,” she said. “After the ceremony, as we celebrated his win, in the post interviews, I would have talked about my condition and the narrative would have been Chris is a bully for picking on a woman with a medical condition instead of Will not having a sense of humour and slapping people.”

But Brandy Newton said she is Team Will all the way. “Yes, he should have slapped him. Chris stay having that woman name in his mouth. You want be up there disrespecting a woman about her hair when she have a medical condition that she has expressed…how it made her feel. Come now, Chris, should know you don’t mess with a Black woman’s hair. That’s fighting words, that’s why Will did what he did. He took one look at his wife’s face and saw she was hurt. He just acted on pure emotion. Chris needs to apologise to Jada and be more considerate in the future,” she said. Alexis Burrows feels the same way. “If my husband felt like someone disrespected me, you best believe he handling that. You ain’ gone talk about Mrs Burrows any kinda way round him,” she said.

However, others online simply don’t see what the fuss is about. “I don’t even see what the big deal is. I thought the joke was funny and Jada has been very public about her hair loss. She rocking that bald head obviously not hiding it, so it’s not some secret shame she trying not to let the world see,” said Beverly Johnson. “I thought she looked gorgeous and her willingness to showcase something that personal is a great thing for other woman who are also experiencing a similar situation.” In a statement Monday, the Academy said: “The Academy condemns the actions of Mr Smith at last night’s show. We have officially started a formal review around the incident and will explore further action and consequences in accordance with our bylaws, standards of conduct and California law.”