Second IHOP outlet creates 66 new jobs via $3 million investment
nhartnell@ tribunemedia.net
A BAHAMIAN restaurant franchise yesterday disclosed its has created 66 new jobs, taking its workforce to 300 staf, through the $2.5m to $3m investment in its just-opened second IHOP outlet on Carmichael Road. Jefrey Beckles, Bahamas Caribbean Dining’s chief executive, told Tribune Business that the area’s fast population growth and high “trafc density” made the location an obvious choice
SEE SPEND, Page 6
‘Take bull by horns’ on security firm upgrades
nhartnell@ tribunemedia.net
A BAHAMIAN security provider is backing the Government’s bid to “take the bull by the horns” and crack down on rogue providers with this nation “lagging behind” Caribbean rivals on industry regulation, standards and service quality.
Gamal Newry, president of Preventative Measures, told Tribune Business he “totally agrees” with the Ministry of National Security’s enforcement and compliance drive following last week’s warning that unlicensed private security providers and unauthorised guards, together with non-payment of due fees, will no longer be tolerated.
He argued that, because the training of ofcers and guards is not presently mandated by Bahamian law, there are “widespread problems” within the Bahamian private security industry when it comes to service standards and the ability of providers to deliver what they promise to customers - crime prevention and asset protection that safeguards
* Provider says ‘crack down’ on rogue operators ‘long overdue’
* Lack of mandatory standards, training ‘widespread problem’
* Warns Bahamas ‘lagging’ Caribbean competitors on training
data, properties, staf and customer.
Praising Myles LaRoda, the newly-appointed national security minister, for “picking up the baton” from his predecessor, Wayne Munroe KC, Mr Newry told this newspaper that upgrading and modernising the Private Security Act 1970 - legislation that is 56 years-old and dates back before Bahamian independenceis “the only way” to place the sector on a similar self-regulatory footing to the likes of attorneys and accountants.
Warning that Bahamian security providers presently face exposure to signifcant “civil and criminal liability”, stemming from the actions or inactions of poorly-trained security guards in a sector
that lacks “minimum standards”, training and proper oversight, the Preventative Measures chief added that Caribbean competitors have bypassed this nation on regulation.
He cited the examples of Trinidad and Tobago and Jamaica, both of which have private security regulatory authorities, and possess “far more teeth” than The Bahamas when it comes to industry oversight, setting service standards and licensing/ training of ofcers.
Revealing that he was also a presenter at last Friday’s Freeport event, where Mr LaRoda afrmed the Government’s push to upgrade the private security sector, Mr Newry told Tribune Business: “I defnitely agree with that. I defnitely agree we need
to crack down on unlicensed and unregistered providers, and this will defnitely be a good step in improving standards and service deliverables for the security guard product. “We want to regulate the industry and make sure the providers are meeting some standards. That is the only way it’s going to be able to happen. It’s defnitely needed. It’s defnitely more than needed. I am surprised we’ve been able to go so far into 2026, and allow it to go on for as long as it has” without vastly upgraded and enhanced regulation. Mr Newry said that, while he is unable to provide “exact numbers” for the total number of persons
SEE PROTECT, Page 7
Up to 20% bank fee rises show
‘only half the story’
nhartnell@ tribunemedia.net
A SENIOR Bahamian banker yesterday asserted the Central Bank’s semi-annual survey of commercial bank fees is “telling only half the story” after the latest report revealed some customer categories sufered 20 percent-plus increases during the 2025 second half.
Gowon Bowe, Fidelity Bank (Bahamas) chief executive, told Tribune
Business that the surveywhich compares the fees levied on customers by this nation’s commercial banks“needs to look at the other side of the coin” and examine the ever-increasing costs that impose pressure on the industry to raise these charges. Asserting that equal focus on bank expenses is required to keep the survey “meaningful”, he argued that its present format threatens to “create a
SEE CHARGES, Page 4
Hotel union ‘gung ho’ to exit Freeport’s Bazaar
nhartnell@ tribunemedia.net
THE Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) president yesterday afrmed it is “gung ho” to exit its ownership interest in Freeport’s International Bazaar and “close the chapter” on 20-plus years of fnancial losses.
Darrin Woods, speaking after Ginger Moxey, minister for Grand Bahama, said earlier this week that the Government expects to complete the dilapidated property’s acquisition within the next days, signalled to Tribune Business that the union cannot wait to receive its share of the purchase price to cover at least some of the losses incurred over the past two decades. He disclosed that he reached out to Christopher Gouthro, the Freeport-based attorney handling the International Bazaar deal for the Government, by e-mail in the wake
SEE UNION, Page 10
Bahamas must compete by ‘being who we say we are’
TRUST is a currency in shorter supply than ever.
Survey after global survey shows that consumers, particularly younger ones, view corporate messaging with deep suspicion. They have been promised too much, sold too aggressively and disappointed too often. For Bahamian businesses, this scepticism is both a hurdle and an opening. The hurdle is obvious. Customers no longer take advertising claims at face value. They check reviews, ask their networks and dig through social media for evidence that a business is what it says it is. The opening is equally clear. In an environment where most marketing feels manufactured, businesses that operate with genuine
character become magnets for attention. Authenticity is one of those words that gets used so often it nearly loses meaning. In practical terms, an authentic brand is one whose external image matches its internal reality. The hotel that markets warmth must actually train its staf to greet guests warmly. The restaurant that promotes locally-sourced ingredients must actually buy from local farmers. The consultant who claims expertise must actually deliver work that demonstrates it. Bahamians have a head start on this work because we live in a small country where reputation circulates quickly. Anyone trying to fake their way through our market gets exposed within months. The same
Whats App networks and church communities that build a business by referral can dismantle one through whispered warnings. This natural accountability, often viewed as a constraint, is actually a gift. It rewards businesses that operate with integrity.
Building an authentic brand begins with internal honesty. What does your business genuinely do well? What are your shortcomings? Who are you actually serving, and who are you not the right ft for? Owners who can answer these questions truthfully tend to produce marketing that resonates because it does not overclaim.
The next step is consistency across every customer touch point. Your social media voice, your phone manner, your invoice
design and your response to complaints should all feel like they come from the same business. Inconsistency signals that something is performative. A boutique that posts curated lifestyle imagery on Instagram, but ignores customer messages for three days, is sending mixed signals that erode trust.
Story matters more than slogans. Bahamian businesses sit on a wealth of authentic narrative material. The family member who started the operation in the 1970s. The local supplier who has worked with you since opening. The Family Island origin of a recipe. The lesson learned during a hurricane recovery. These stories, told plainly and without embellishment, do more brand building than any tagline.
The economic stakes of this work are signifcant. The Bahamian economy depends heavily on differentiation. We cannot compete on volume or price with larger destinations and larger producers. We must compete on character. A travel destination known for genuine hospitality outperforms one that markets hospitality without delivering it. A local product known for honest craftsmanship commands prices that mass produced alternatives cannot match.
Authenticity is not a marketing strategy. It is a discipline of operating in alignment with your stated values. In a noisy world, that quiet consistency is the most powerful brand of all.
NB: About Keith Keith Roye II is a highly analytic and solutions-driven professional with extensive experience in software development. He holds a BSc in computer science and his career includes leading and delivering global software projects in various industries in The Bahamas and the US.
Scepticism is the new default setting of the consumer mind. Businesses that try to overcome it with louder claims or slicker advertising will fail. Businesses that overcome it by simply being who they say they are, day after day, will build the kind of loyalty that survives recessions, competition and changing trends.
School uniform supplier pledges no price hikes
shipping charges are placing increasing pressure on retailers’ margins and could result in higher Back-toSchool costs for consumers.
timing of our orders. But I can’t speak to the 2027 Back-to-School season. It’s a bit early.”
A SCHOOL uniform supplier yesterday pledged that parents will not face higher prices this summer despite mounting shipping costs and global supply chain disruptions linked to increased fuel prices and Middle East tensions.
James Wallace, owner and operator of Janaees Uniform Centre, said the retailer has made a deliberate business decision to absorb increased freight expenses rather than pass them on to customers, even after being forced to pay premium shipping charges to secure inventory in time for the upcoming school year.
“It’s not happening in Janaees,” he said. “We are not doing that, despite the cost. Janaees is taking a business decision not to pass the increased fuel cost on to the customers.
“We’ve decided that we’re keeping the prices that we had last year with regards to our margins. We did have a challenge this year where we literally had to pay a premium to get the containers on the ship. So that has been a challenge for us, but we have no intentions of passing that cost on to the customers.”
Mr Wallace’s comments come as Bahamian retailers continue to face higher freight and transportation expenses driven by elevated fuel costs. Other retailers have warned that while suppliers have largely held product prices steady, rising
Janaees, however, appears to have escaped the worst of those pressures for this year because its inventory was ordered well in advance. Mrr Wallace said the company’s manufacturing orders were placed during 2025, allowing it to lock in production costs before more recent infationary pressures emerged.
“We’ve seen some increases on some of our production costs,” he said. “But fortunately for us, the timing of those production costs and where we started the production, we don’t see them as having a signifcant impact because our orders were placed in 2025. So the prices were locked in.”
The retailer is, however, monitoring international developments closely, warning that the current geopolitical uncertainty could have implications for future school uniform pricing. “I would imagine that for 2026, which means it’s for the 2027 Back-to-School season, that we will probably see price movement,” Mr Wallace said.
He added that Janaees begins planning for the next school year almost immediately after the current season ends. “We order for next school year in September,” he said. “It’s right here. We literally place our orders by October.
“I think we may see some impact from this Iran war in our next year’s sales, but not this year’s sales. We don’t see it because of the
His comments follow reports that the retailer experienced shipping disruptions this year due to delays moving containers from China. The company ultimately had to pay for a premium service to secure space aboard vessels amid ongoing disruptions to international shipping routes.
Despite those challenges, Mr Wallace said Janaees expects to have sufcient inventory available before the traditional Back-to-School shopping rush begins. He disclosed that the company currently has three containers at sea and expects them to arrive before demand reaches its peak in August.
“As far as we’re concerned, the scheduled arrival of those containers will not negatively impact our sales because we expect them at the end of this month,” he said. “And us typical Bahamians don’t really shop until August.
“So we will have the inventory in hand to supply 95 percent of the schools in this country, and in the volume that people will require.” Rather than worrying about shortages, Mr Wallace said the bigger challenge is managing the heavy concentration of shoppers who traditionally wait until the fnal weeks before school reopens.
“If the customers understand the challenge in terms of the time to get it to them, in terms of having to wait in the store for items to
be moved when we have 50 customers in the store, everybody looking for practically the same thing, and whoever was frst in the morning took them of the shelf, and now we have to put them back on the shelf, they will be fne,” he said.
To help spread customer trafc more evenly throughout the summer, Janaees has launched a 20 percent-of promotion. Mr Wallace described the initiative as less about boosting sales
and more about improving customer service.
“We have a sale that we’re currently running, 20 percent of,” he said.
“Would you believe that is a sale predominantly to encourage people to shop early?
“We’re literally paying customers to shop early because there’s no reason for us to start a sale when school just closed. And we’re saying, ‘Help us to help serve you better’ by
taking advantage of a discount now.
“That’s the reason why we run the sale in June, because we’re trying to spread out the number of people coming into the store.” He said the strategy appears to be working, with more families beginning their Back-to-School shopping earlier than usual, although he expects many Bahamians will still wait until August before making their purchases.
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Ignoring costs creates ‘combustible situation’
situation between banks and their customers” by failing to put fee increases in context and analyse the costs that may be driving any rises. Mr Bowe spoke out after the Central Bank, unveiling its fee survey for end-December 2025, revealed that charges had “frmed” compared to the two previous reports released for December 2024 and June 2025. In particular, it noted that the average monthly cost for a student savings account operated digitally had increased by 22.4 percent in the six months since end-June 2025, while the average cost of manually-administered adult chequing accounts rose by 21.3 percent over the same period. However, in both cases, the actual dollar amount of the increase was small - from $2.77 to $3.39 for a student savings account handled digitally, and from $10.23 to $11.05 for an
adult chequing account.
The Central Bank also pledged to soon release its proposed guidance to all Bahamian commercial bank licensees on the introduction of so-called ‘basic bank’ accounts designed to improve fnancial services access for lower income persons by ofering facilities with reduced charges.
Mr Bowe, after reading the survey, reiterated his concern that the fndings being presented are incomplete because they ignore the underlying costs that Bahamian commercial banks incur in providing services. “It is telling only half of the story,” he told Tribune Business. “By that I mean it us looking at the fees being charged but not putting up the commensurate expenses that are taking place.”
Suggesting that the banks are being “villainised”, Mr Bowe added: “It will leave with the average consumer that we are seeing a 20 percent increase in bank
fees…. I think if the survey is to be, or continue to be, meaningful and avoid creating combustible situations, it needs to look at the other side of the coin and see what costs are increasing with the banks.
“Expenses are increasing, and just as with any business, if your inputs are increasing, unfortunately prices are increasing as well.” Mr Bowe said Bahamian commercial banks are all facing increases in expense items such as employee salaries, electricity and information technology (IT) security.
The Central Bank, in its survey report for December 2025, asserted: “On a case-by-case basis, average charges on constructed customer profles have frmed since both the June 2025 and December 2024 survey….
“As to policy developments, during the coming weeks the Central Bank will advance to public consultation on the proposed guidance to banks for the introduction of basic banking or transactional
accounts. This will broaden afordable access across all depositor profles for individuals of reduced economic means, as the facilities are proposed to be provided for individuals with annual earnings up to the current minimum wage level for The Bahamas.”
The survey was based on three customers - a student with under $300 in their account, who conducts two transactions per month; a senior citizen receiving pension income, and who also performs two transactions per month with an account balance of less than $400; and the same two individuals who possess savings and chequing accounts with balances between $500 and $1,000.
“Compared with both June 2025 and the December 2024 periods, domestic banks’ average total monthly surcharges for digital services have increased, with three of the four scenario estimates across commercial banks indicating higher average fee totals,” the Central Bank found. “An increase
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in cost was observed within the student, adult chequing and adult savings scenarios.
“Overall, the average monthly cost of maintaining adult chequing account services remains the costliest, while adult savings accounts are the second most costly.
Student accounts, on average, receive the most concessions, followed by retiree accounts. Therefore, these accounts are the least costly.
“Within these ranges a customer profle utilising the maximum digital or electronic service options would face average monthly fees of between $3.39 to $18.03, according to the December 2025 fee averages. This contrasts with the estimate cost in the range of $2.77 to $16.92 in the previous six months, and a range of $2.65 to $ 16.49 one year prior,” the banking regulator continued.
“When analysed by scenario, the average monthly cost of a student savings account has increased by 22.4 percent from $2.77 in June 2025 to $3.39 in December 2025. The average monthly cost of maintaining a retiree savings account rose by 7.7 percent from $4.18 to $4.50. Moreover, adult chequing and adult savings accounts experienced fee increases of 6.5 percent and 7.2 percent, respectively over the six-month period.”
Turning to manual or in-branch, physical banking, the Central Bank said: “Customers who rely heavily on physical banking service channels persistently incur higher monthly costs across the four scenarios, also registering frming on average since the second half of 2024.
“Using paper-based channels to access fnancial services in December 2025 would have resulted in average monthly rates ranging from $11.05 to $33.50, compared with $10.23 to $27.61 in June 2025 and $9.72 to $27.01 in the last half of 2024. For these, retiree accounts were, on average, the least expensive to maintain, whereas adult
chequing accounts were the most costly.
“The average monthly cost of maintaining a student account has increased by 10.2 percent - from $10.78 in June 2025 to $11.88 in December 2025. For retiree chequing accounts, average fees increased by 8.1 percent - from $10.23 to $11.05,” the banking regulator added.
“The average cost of adult chequing accounts increased the most between June 2025 and December 2025 - by 21.3 percent, whereas the average cost of adult savings accounts increased by 6.2 percent. Compared to 2024, student account maintenance fees frmed by 12.7 percent; retirees, by 13.7 percent; and adult chequing facilities, by 5.9 percent.”
The Central Bank said transaction costs for Bahamian consumers are lower for digital banking when compared to the manual variety. “The Central Bank’s survey and assessment of commercial banking fees reveal that prices continue to difer greatly across fnancial institutions, particularly for transactions involving deposit account administration and credit service maintenance,” it added. “However, there was a frming in transactions and maintenance costs compared both to the previous six months and the previous year. A customer’s ability to perform transactions digitally signifcantly reduces expenses when compared to greater reliance on physical or paper delivery channels. Banks continued to provide concessionary rates for senior citizens and youth clients.
“However, bank rankings difer depending on the threshold volumes or transaction values. Further limitations apply to such comparisons, as client choice between institutions is not always unrestricted. In addition, customer access to and understanding of technology can often impede the quality of their experience when compared to digital channels.”
Contractors chief hails digitised approval plan
jsimmons@ tribunemedia.net
THE Bahamian Contractors Association’s (BCA) president yesterday said the Government’s plan to digitise building approvals could eliminate years of frustration caused by applications being routed through Nassau.
Leonard Sands warned, though, that the Government must deliver on promised approval timelines while asserting that the plan to process
applications online has the potential to signifcantly improve permit issuanceespecially for Family Island projects that have traditionally been delayed by the need to send submissions to New Providence.
Speaking to Tribune Business, Mr Sands said architects, contractors, engineers and developers have long argued that requiring Family Island applications to be processed through Nassau has slowed development and created unnecessary delays.
"I can see this being a huge improvement to the timeline," he said.
"One of the challenges architects, contractors, engineers and developers have always maintained is that things on the Family Islands are slowed because everything has to be be processed through Nassau. "If they're going to digitise the process and make it easier for people to submit and track applications through a centralised online system, instead of everything going through Nassau, I think that's a fantastic idea."
Clay Sweeting, minister of works and Family Island afairs, announced the initiative during Parliament
Vendors blame promotion woe for Straw Market’s challenges
jsimmons@ tribunemedia.net
A lack of promotion - not cruise passengers - is hurting Bay Street straw market vendors, according to the Straw Businesspersons Society, which argued that many visitors never learn it is just steps from Nassau Cruise Port.
Speaking to Tribune Business, society president Rebecca Small-Morley said vendors are increasingly concerned that although thousands of cruise passengers arrive in Nassau daily, many never visit the downtown Straw Market because they are unaware it exists.
"A tourist told me they didn't know we were here,"
said Mrs Small-Morley. "They said if they had known about the Straw Market, they would have come here frst to shop." She questioned why more is not being done to market the country's straw markets directly to cruise visitors. "Why aren't they hearing about the Straw Market on the cruise ships?" she asked. Mrs Small-Morley said she intends to ask the Ministry of Tourism to increase promotion of the downtown, Cable Beach and Fort Charlotte straw markets.
"Could the Ministry of Tourism advertise the downtown Straw Market, the Cable Beach Straw Market and the Fort Charlotte Straw Market on the cruise ships?" she said. "Once people are aware
Description
we're here, they'll come."
Mrs Small-Morley argued that the lack of awareness is contributing to weak sales for many vendors despite healthy visitor arrivals.
"Today is the frst day this year that I've gone to the market and not made $1," said Mrs Small-Morley. "Business is so slow in the market. There is a handful of vendors in the downtown Straw Market making it, but only a handful. How are people surviving? I do not know."
Mrs Small-Morley said vendors at the Cable Beach Straw Market are facing even greater challenges. "One vendor stopped me and said, 'Miss Small, when you write or speak, please mention Cable Beach and the other markets because we are sufering,'" she said.
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this week, noting the online platform will replace the ministry's paper-based approval system and allow applicants to submit plans electronically, track their progress in real time and receive decisions within a published timeframe.
While welcoming the initiative, Mr Sands said the construction industry will be watching closely to see whether the ministry can consistently meet those timelines."The question is, what timeline are they going to publish? Are they going to be able to stick to it?" he said. "We need more information on how they're
going to maintain a guaranteed timeline for processing applications.
"It's one thing to say an application should take two weeks to review. What happens if it doesn't? What if it takes eight weeks? What does that mean? You can say that, but the application of the process is a whole different situation."
Still, Mr Sands said the digitisation of the approval system is long overdue and should beneft contractors, developers and homeowners across the country.
"I don't want to get hung up on that point because we're long overdue for a
centralised, digitised application process. Hopefully this happens very quickly so all of us can reap the benefts."
Mr Sands said the current system has plagued the construction industry throughout the country's post-independence history.
"We have been sufering for the last 53 years of our nation, waiting for things to happen. Send the fle to Nassau, the fle gets lost, nobody can fnd it," Mr Sands said.
"I've been a part of that process when I worked in architecture for years. It's just chaos."
"The Cable Beach vendors are hurting big time."
Her comments came as Nassau Cruise Port reported that passenger trafc remains strong despite the traditional summer slowdown. Mike Maura, its chief executive and director, said the port welcomed six cruise ships carrying more than 19,000 passengers on Wednesday alone.
"Apart from the ports of Miami, Port Everglades and Port Canaveral, every other port of call or transit port would give its left arm to have our slow season," Mr Maura said. "We're actually in the slow season today, and we have six ships and more than 19,000 passengers. Our trafc is strong."
Speaking to reporters, Mr Maura said Nassau's proximity to Florida means
many cruise passengers are repeat visitors, making it increasingly important for Bahamian businesses to continue investing in their products and visitor experiences. "The blessing and curse of proximity is that many of our guests are repeat visitors," he said. "It's incumbent upon us as Bahamian businesspeople to continue to innovate and invest in our products."
Restaurant to ‘maximise yield’ before new growth
, from Page 1
for its second Nassau outlet following the inaugural Mall at Marathon site.
Afrming that the two restaurants will “complement” rather than cannibalise each other, with residents in southern and western New Providence no longer having to drive so far east for IHOP’s signature Buttermilk Pancakes, he added the Carmichael Road location will serve as an “anchor” for that community given the brand’s status as a family-oriented diner.
Mr Beckles told this newspaper IHOP’s expansion pace had fallen “behind” target, as the second restaurant “should have been open a year ago”, but the franchise had managed to “close that gap” and now believes the new location will “exceed” the expectations and targets it has for the site.
Bahamas Caribbean Dining, whose principal is entrepreneur Burton Rodgers, also holds the Applebee’s franchise
for The Bahamas and opened its frst-ever restaurant under that brand last year at the Fusion Superplex complex at the corner of Gladstone Road and JFK Drive. Yesterday’s second IHOP launch takes its Bahamas restaurant portfolio to a three-strong group. Mr Beckles said the group’s immediate focus will be on maximising the returns from its existing three restaurants rather than further expansions, although he acknowledged that it will likely look “west” ultimately for a third IHOP site in New Providence. The latest location is located towards Carmichael Road’s western end, located near both Wendy’s and the Immigration detention centre.
“The Carmichael Road area or, as we used to call it, City 2000, is probably the fastest-growing community in The Bahamas, certainly Nassau,” Mr Beckles explained of the decision to locate in the Solace Shopping Centre. “From a
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“We’ve added a total of 66 jobs with the new location. Our workforce is now just shy of 300 - fully 100 percent Bahamian. Each location runs to about a $2.5m to $3m investment, and we’re up to about one of them.” The second IHOP will be open from 7am to 3pm, and Mr Beckles said it plans to “work our way” to a 24-hour operation seven days per week.
“We should have been open a year ago,” he added.
“When I came on a year ago as chief executive, we were behind. Running a restaurant franchise is not as easy as people think. We’ve been able to improve, we’ve closed that gap, and are looking forward to exciting times in the coming weeks and months. This will be an anchor store in the community.”
Asked about Bahamas Caribbean Dining’s plans for further IHOP expansion, Mr Beckles replied:
“Now we have three stores open, with Applebee’s and two IHOPs. The initial objective is to stabilise all three operations, yield them to the maximum, and then look at opportunities for the next IHOP - probably west. In the short-term, the objective is to yield all three locations and maximise them. Expansion is not an easy thing. You cannot run down that road too often; not with food.
“The potential here [at Carmichael Road] is extraordinary and we are very excited about that. We have great expectations for this store, and believe it will exceed those expectations with great food and great value.” The Bahamas Caribbean Dining chief executive added that the new restaurant is not expected to suck business away from the Mall at Marathon location.
“We’re very proud of what the team has done at the Mall at Marathon, and are looking forward to that continuing,” Mr Beckles added. “We don’t see the second location in any way being a threat to that.
People will no longer have to drive all the way out east. For us, it’s a perfect complement.”
Pointing to the positive opening day reaction from consumers, Mr Beckles said: “Every day for the last several weeks, people have been knocking on the door asking: ‘When are you going to open? When are you going to open?’ People are focking in here. We have parties as large as eight.
The anticipation is great. We believe the fow will be constant. This is the only family-oriented restaurant in the area.
“As I sit here looking at the door, there’s another group of seven who have walked in. You can imagine when word gets out.”
Mr Beckles said brand familiarity and recognition was one reason why
international restaurant and food franchises tend to do well in The Bahamas as Bahamians are familiar with them from travelling abroad.
However, he added that it is critical for food, service and experience quality to be consistent.
“Opening our second IHOP location in New Providence is an exciting milestone for our company,” said Mr Beckles. “This expansion refects our commitment to serving the Carmichael Road community and surrounding areas with quality, afordable dining while creating new employment opportunities that contribute to our local economy. We look forward to welcoming guests and sharing this exciting new chapter with the community.”
of Mrs Moxey’s remarks and was simply told: “Hopefully soon.” Mr Woods, who told this newspaper that he had received no further updates since the Government’s plans to compulsorily acquire the International Bazaar site for its Afro-Caribbean Marketplace were unveiled in February, added that the union’s compensation will be based on its 22 percent equity ownership interest once all transaction fees and closing costs are accounted for. The property was previously appraised for $2.88m.
“Listen, we are gung ho,” Mr Woods said of the sale’s potential closing. “This, of course, has been a dark cloud lingering on that part of Grand Bahama for many years, particularly since hurricanes Frances and Jeanne in 2004. With people unable to pay their rents, the place feel into a dilapidated state.
“In good conscience, we [the union] could not take monies to repair it, particularly given the state of the industry since COVID. We’ll be glad to have it gone, close that chapter in our books and wait for the next one for us.
“People keep pointing to the glory days of the Bazaar but the reality is those days are gone. “You have to create the ‘new’ down there. Generations today don’t know anything of the Bazaar. It’s only what they see now.”
Another source, familiar with developments at the International Bazaar, said of Mrs Moxey’s remarks: “We’re every hopeful but will believe it. when we see it.” Besides the hotel union, the Bazaar’s 13 owners include the likes of John Bull and the Chee-A-Tow family Mrs Moxey earlier this week said the Government has reached an agreement with the owners.
“There was one holdout, and the process of payment should begin over the next 10 days or so,” she said.
The International Bazaar, which has steadily deteriorated ever since the Royal Oasis resort that supplied a signifcant proportion of its customer base closed in 2004, sufered further blows as a result of two fres that further devastated what remained of many buildings.
Mrs Moxey said of the Government’s Afro-Caribbean Marketplace plans in 2023: “Not only will the marketplace promote and distribute African and Caribbean products, but it will also ofer a taste of Africa and the Caribbean, making it an appealing tourist attraction.
“In the marketplace, we envision seamless connectivity for trade between Africa and the Caribbean through the African Continental Free Trade Area (AfCFTA), with the Caribbean as the sixth region, and the added advantage of a 230-square-mile free-trade zone ofering tax concessions on Grand Bahama.”
Using Grand Bahama’s proximity to the US, the marketplace would provide strategic opportunities for value-added manufacturing, transshipment, distribution and logistics. “This vision,
however, goes beyond mere trade,” Mrs Moxey said.
“It represents the culmination of a world-class experience, showcasing the rich cultures of Africa and the Caribbean. The African-Caribbean Marketplace will become the home of ‘All things African and Caribbean’. It will feature a ‘Bahamas Bazaar’ representing each inhabited island of The Bahamas.
“With its conceptual design, including an amphitheatre, featuring a performance arts theatre, African and Caribbean-favoured concessions and unique architecture refecting the authenticity of our cultures, we aim to create a space that resonates with the spirit of Africa and the Caribbean.”
Mrs Moxey on Monday said the Afro-Caribbean Marketplace will feature pavilions representing 55 African countries, 20 Caribbean nations and the islands of The Bahamas.
She said the project is intended to function not only as a tourism attraction, but also as a logistics hub for goods imported from Africa and the Caribbean for redistribution to international markets.
Mrs Moxey said a Board has already been established for the initiative under a company called ACMLC Grand Bahama Limited. The project has secured a $1.86m project preparation facility from the Africa Export-Import Bank to fund architectural and design work, environmental assessments, feasibility studies and other preparatory work.
The minister also said the Government has acquired the former Royal Oasis property, which includes the Princess Tower and casino, for $1m. She said the Government has secured 4.365 acres of land along West Sunrise Highway for $1 to facilitate the reopening of the road.
GB concrete manufacturer unveils ‘Heroic is All of Us’
A GRAND Baha-
ma-based concrete products manufacturer is this month launching what it describes as a national campaign to celebrate the businesses, communities and people shaping the country’s future.
Heroic Concrete & Concrete Products, in a statement, said its ‘Heroic Is All of Us’ initiative aims to remind Bahamians that every purchase made with a local business, every entrepreneur who creates jobs, every contractor who lays a foundation and every family investing in a home, contributes to a stronger, more resilient Bahamas.
It added that the campaign is designed to encourage Bahamians to think diferently about where they spend their dollars because supporting local businesses is about investment in local jobs, talent, families and the continued growth of the country’s economy.
"‘Heroic Is All Of Us’ isn't about asking people to buy concrete," said Glennett Fowler, founder, president and chief executive of Heroic Concrete & Concrete Products. "It's about asking Bahamians to believe in one another. “Every time we choose a Bahamian business, we
invest in families, entrepreneurs, skilled workers and the future of our country. Concrete is simply the product we manufacture. Building a stronger Bahamas is the purpose that drives everything we do. ‘Heroic Is All Of Us’ refects our belief that the future of this nation will be built by Bahamians who choose to invest in Bahamians."
Heroic Concrete said that, in coming months, the campaign will feature television commercials, digital story-telling, community initiatives, employee spotlights, contractor success stories, educational content
and strategic partnerships designed to celebrate Bahamian excellence while reinforcing the importance of supporting local enterprise. It added that, through authentic story-telling, it hopes to remind Bahamians that behind every successful project are ordinary people doing extraordinary work. As part of the initiative, Heroic said it will also introduce the Heroic Builders Circle - a frst-of-its-kind loyalty and partnership programme designed to recognise contractors and builders through exclusive pricing, educational resources and future equity
ownership opportunities within the company. It added that eligible contractors, developers and customers will receive frst right of refusal to become shareholders and participate in Heroic's long-term vision as the business continues to grow. The company has also launched ‘From the Ground Up’, an educational series on social media designed to help aspiring homeowners navigate every stage of the construction journey from purchasing land and budgeting to selecting materials, managing contractors and successfully completing their home.
“Ultimately, ‘Heroic Is All Of Us’ is about something much bigger than concrete; nation building,” the concrete supplier said. “It is about strengthening our economy by supporting local businesses. It is about creating opportunities for future generations.
“It is about recognising that every Bahamian has the power to shape the future of our country through the choices we make each day - every foundation poured, every block laid and every business supported represents another investment in The Bahamas and in the generations that will follow.”
Cabinet ‘regularises’ status of 180 workers
THE Ministry of Works and Family Island Afairs announced yesterday that Cabinet has approved the regularisation of 180 employees in the Grounds and Beautifcation Division following a demonstration by workers demanding permanent and pensionable status after years of temporary employment.
In a statement issued after the demonstration, the ministry acknowledged
employees' concerns over their "long-standing pursuit of permanent and pensionable status" and said it recognised the importance of the issue.
The ministry said Clay Sweeting, minister of works, met with union representatives and staf earlier in the day, advising them that months of preparatory work had been completed and that the matter was being advanced to Cabinet for consideration.
"The Ministry is pleased to announce that Cabinet has approved the regularisation exercise
of 180 employees," the statement said. It added that, depending on each employee's current status, the exercise could include promotions, reclassifcations and appointments to permanent and pensionable positions.
The Ministry of Works described the move as a milestone refecting the Government's commitment to providing long-standing public servants with greater job security and retirement benefts.
It said it will now engage grounds and bBeautifcation staf on the
implementation process, their updated employment status and the benefts associated with the regularisation exercise.
The announcement came after employees staged a demonstration outside the Ministry of Works over a planned transfer of the division to the Ministry of the Environment while many workers remain in temporary positions. According to reports from the demonstration, workers argued that the transfer should not proceed until long-standing employment issues are resolved.
Several employees said they had spent between 16 and 30 years in temporary or weekly-paid positions without being made permanent and pensionable or receiving promotions.
Kimsley Ferguson, the Bahamas Public Services Union (BPSU) president, also criticised the planned transfer, arguing that workers' employment status should frst be resolved.
He said ministry managers had recently been informed the unit would be transferred to another ministry, believed to be the Ministry of the
Environment, while many employees with decades of service remained unregularised.
Mr Ferguson argued that workers should not be transferred until their employment issues are settled.
He said temporary status has prevented many from accessing loans and other fnancial services because lending institutions require secure employment.
He also contended that the afected workers represent some of the country's most marginalised public servants.
Minister pledges digitised building permits process
afairs, announced the initiative in Parliament by describing it as part of a broader efort to modernise the ministry and improve customer service.
A CABINET minister says the Davis administration is moving to digitise its building approval process, replacing paper-based applications with an online system that will allow homeowners and contractors to track their submissions in real time.
Clay Sweeting, minister of works and Family Island
Mr Sweeting said the new system is intended to eliminate one of the most frustrating aspects of dealing with the Ministry of Works by allowing applicants to submit building plans online, monitor their progress at every stage and receive decisions within a published timeframe. "Applications will now
be moving online, where a homeowner or contractor can submit plans, track them at every stage and get a decision inside a clear published timeline," he said.
The minister added that the reform will be particularly benefcial for Family Island residents, noting that applications for buildings larger than 3,000 square feet currently must be sent to New Providence for approval.
"When you apply for a building plan over 3,000
square feet, they have to send that building plan from Mayaguana or Inagua all the way to New Providence," said Mr Sweeting. "That has meant weeks of silence and no way to know who is holding up your fle. That ends.”
Mr Sweeting said the digital platform is part of a wider transformation of the ministry, which he said has long been associated with bureaucracy and delays. "I want it known for something else entirely - a modern, digital, responsive
institution that treats every Bahamian like a citizen who deserves a straight answer, and a quick one," he added. In addition to digitising building plan approvals, Mr Sweeting said the ministry plans to strengthen local government by providing Family Island administrators and local councils with additional training, resources and authority to make more decisions within their own communities rather than relying on approvals from Nassau.
He said the Government intends to prioritise infrastructure projects based on urgency.
And the Government intends to ensure work committed for the fscal year is completed on schedule while continuing to use Bahamian contractors, engineers and labour wherever possible.
"We are not announcing roads; we are paving them. We are not promising Family Island development, we are delivering it," said Mr Sweeting.
Businesses urged to reform disaster management plans
and Carib-
bean businesses have been urged to swiftly reform their disaster risk management approach to cope with the potentially devastating impact of ever-stronger hurricanes.
The warning was delivered during the recent ‘CAT 5 ready: Business continuity in the eye of the storm’ webinar, which was hosted by Cloud Carib, the Nassau-headquartered data services provider, with panel contributions by CG Atlantic Insurance Agents & Brokers and Structured Bahamas.
Historical data shows that Caribbean economies lose an average of 17 percent of their gross domestic product (GDP) in years when a major hurricane makes landfall.
Panellists pointed to Hurricane Melissa, which last year cost Jamaica an estimated 28 percent to 32 percent of its GDP, as a
reminder of how rapidly a single climate-related event can disrupt national productivity and halt economic recovery.
"Across the region, hurricane preparedness is still too often treated as just a facilities issue or an IT issue," said Olivia Dorsett, Cloud Carib’s marketing director.
"The reality is that business resilience is a leadership issue. Organisations need to know whether their buildings can withstand the next storm, whether their data can be recovered, whether their teams can work, and whether their policies are adequate, when it matters most."
Moderated by Michele Marius, founder and frector of Jamaica-based ICT Pulse Consulting, the panel challenged companies to look past traditional checklists such as shutters, generators and emergency contacts to examine whether their
NOTICE
NOTICE is hereby given that I, ADDLEY PRUDENT of Windsor Lane, New Providence, 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 2nd day of July, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that I ANDY JONATHAN JACOBO CORDERO of Mangrove Street, Sir Lynden Pindling Estates #23, Nassau, Bahamas, 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 25th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New
NOTICE is hereby given that I ARIANA MCCARTNEY of Cable Beach, Nassau, Bahamas, 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 25th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas
broader systems and policies are genuinely ready to endure disruption.
Christopher Wells, structural engineer at Structured Bahamas, warned that many buildings in the Caribbean rely on outdated codes or construction methods that are inadequate for today’s increasing wind, water and storm surge levels. He urged business owners to engage structural engineers early before a storm enters the forecast, adding that contractors and supplies disappear once a watch is issued.
Chaz Garraway, climate science engineer, added that while storms may not always be more frequent, warmer ocean temperatures mean they are becoming signifcantly stronger, wetter and more destructive, intensifying
more rapidly and requiring businesses to build immediate redundancies into any single point of failure.
Addressing digital resilience, Mark Arruda, vice-president of solutions at Cloud Carib, emphasised that technology is only half the battle as true business continuity must account for the human element.
He explained that, while a business may have remote work capability, staf may still be dealing with power loss, Internet outages at home, damaged residences or unsafe conditions.
To combat this, Mr Arruda stressed that companies must ruthlessly test disaster plans using table-top exercises and live system replication.
“Insurance is not something you want to get when you need it,” said Gabrielle
NOTICE
NOTICE is hereby given that I SASHANEE TONEYANN NEVERS of Mckinney Drive, Nassau, Bahamas, 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 25th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas
NOTICE
NOTICE is hereby given that WATHLEY ADOLPHE of 124 Beaconsfeld Avenue, Grand Bahama, 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 25th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that I MARCK NORALUS of Village Alley, New Providence, Bahamas, 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 twentyeight days from the 25th day of June, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas
BAHAMIAN
McKenzie, agency manager at CG Atlantic, adding that incomplete documenta-
Bahamas to head Caribbean insurance regulators group
THE Bahamas’ top insurance supervisor has been elected to serve as president of the Caribbean region’s association of regulators for the industry.
The Insurance Commission of The Bahamas, in a statement, revealed that Dana L. Munnings-Gray, its superintendent, has been chosen to serve as president of the the Caribbean Association
NEW YORK (AP) —
Most of Wall Street rose yesterday, but drops for some infuential technology stocks pulled the market lower.
The S&P 500 slipped 0.2% for its eighth loss in
of Insurance Regulators (CAIR) following its recent conference in Belize.
It added that her appointment marks The Bahamas' second term leading CAIR, having previously served as president from 2014 to 2018. The Insurance Commission said it also participated in the Caribbean Association of Pension Supervisors (CAPS) annual
11 days. The Dow Jones Industrial Average dipped 13 points, or less than 0.1%, and the Nasdaq composite fell 0.7%.
General Mills helped lead the market and climbed 8.5% after the company behind the Cheerios and Progresso brands reported better results for the latest
Legal Notice NOTICE
N O T I C E IS HEREBY GIVEN as follows:
(a) GOR LTD. is in dissolution under the provisions of the International Business Companies Act 2000.
(b) e Dissolution of said Company commenced on July 2, 2026 when its Articles of Dissolution were submitted and registered by the Registrar General.
(c) e Liquidator of the said company is Helvetic Management Services Ltd. of 2nd Terrace West, Centreville, Nassau, Bahamas.
(d) All persons having Claims against the above-named Company are required on or before August 2, 2026 to send their names and addresses and particulars of their debts or claims to the Liquidator of the company or, in default thereof, they may be excluded from the bene t of any distribution made before such debts are proved.
July 2, 2026
HELVETIC MANAGEMENT SERVICES LTD. LIQUIDATOR OF THE ABOVE-NAMED COMPANY
conference while in Belize, joining regulators from across the region to discuss developments impacting the insurance and pension sectors.
Besides Mrs Munnings-Gray, The Bahamas was also represented by Rodney D. Bain, deputy superintendent of insurance and other Insurance Commission ofcials, who participated in technical
quarter than analysts expected. It also announced a plan to cut $3 billion in costs over four years.
Three out of every fve stocks within the S&P 500 likewise climbed, and the index trimmed an early drop of 0.7% after a report said U.S. manufacturing grew last month at a slightly slower speed than economists expected. The survey from the Institute for Supply Management also said prices were increasing at a slower pace.
The data could take some upward pressure of infation, which in turn could make the Federal Reserve less likely to raise interest rates multiple times this year. Following the report, the yield on the 10-year Treasury pulled back from a peak near 4.50% in the morning and fell to 4.47%.
That ofered some relief because higher yields make it more expensive for businesses and households to borrow money and in turn can slow the economy. Higher yields also tend to undercut prices for stocks and other investments. Yields have been on the rise since the war with Iran began because of worries
sessions, strategic discussions and talks with regional counterparts.
The topics discussed included regulatory developments, emerging risks, consumer protection, innovation and regional co-operation. Through CAPS, pension supervisors collaborate on strengthening oversight frameworks and sharing best practices, while CAIR provides a platform for insurance regulators to advance supervisory standards, promote regulatory consistency and address challenges common to member jurisdictions. The Insurance Commission said The Bahamas will host both the CAIR and CAPS conferences next year, welcoming regulators and industry stakeholders from across the Caribbean.
about high infation caused by expensive oil.
The heaviest weights on the market were stocks that had soared earlier in the euphoria around artifcial-intelligence technology, including drops of 10.6% for Micron Technology, 6.9% for for Advanced Micro Devices and 1.3% for Nvidia.
Such stocks have been zigzagging in recent weeks because of worries that they had become too expensive. They also have big infuence on the S&P 500 and other indexes because they’ve grown so huge in size.
Kroger swung from an early loss to a gain of 1.3% after the grocer said it agreed to buy Giant Eagle for $1.25 billion in cash. It will also take on $400 million in liabilities to buy the food and pharmacy retailer with stores stretching from Indiana to Maryland.
Nike also fipped an initial loss and rose 4.9% after reporting stronger results for the latest quarter than analysts expected. The athletic-gear giant is in the midst of a turnaround attempt by CEO Elliott Hill, and he said it’s still facing headwinds dragging on its revenue.
All told, the S&P 500 slipped 16.13 points to 7,483.23. The Dow Jones Industrial Average dropped 13.96 to 52,305.24, and the Nasdaq composite fell 173.69 to 26,040.03.
Gold’s price recovered from an early to rise. It briefy sank below $3,980 per ounce overnight, down from more than $5,300 per ounce early this year.
When Treasurys pay more in interest, investors become less willing to pay high prices for investments. That includes gold, which pays its holders nothing.
But the weaker-than-expected manufacturing report and ensuing easing of Treasury yields sent gold back up 1.1% to settle at $4,082.40 per ounce.
In the oil market, prices sank as hope remains that the United States and Iran may ultimately end their war and reopen the Strait of Hormuz to oil tankers delivering crude. The price for a barrel of Brent crude, the international standard, fell 1.9% to $71.57. In stock markets abroad, indexes were mixed in Europe and Asia.
South Korea’s Kospi fell 2% for one of the world’s biggest moves. It’s been one of the world’s brightest stars thanks to euphoria around SK Hynix and other AI stocks, and the index is still up 97% for the year so far.
In Tokyo, the Nikkei 225 rose 0.6% after the Japanese yen fell to a 40-year low against the U.S. dollar.
Kassel Baker’s Bay Ltd
Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act 2000 notice is hereby given that the above-named Company has been dissolved and struck off the Register pursuant to a Certifcate of Dissolution issued by the Registrar General on the 8th day of June 2026.
Brian Selvadurai Liquidator of Kassel Baker’s Bay Ltd
NOTICE
RIP LTD.
Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 211894 B (In Voluntary Liquidation)
Notice is hereby given that the above-named Company is in dissolution, commencing on the 30th day of June A.D. 2026.
Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. RONALDO IABRUDI DOS SANTOS PEREIRA whose address is Rua Curitiba 31, Apt 131, Sao Paulo, CEP: 04005-0030, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 31st day of July A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.
Dated this 30th day of June A.D. 2026. RONALDO IABRUDI DOS SANTOS PEREIRA LIQUIDATOR
INTERNATIONAL BUSINESS COMPANIES ACT, 2000
TORUS INVESTMENT FUND LIMITED SAC
NOTICE is hereby given that in accordance with Section 138(8) of the International Business Companies Act, 2000, the Dissolution of TORUS INVESTMENT FUND LIMITED SAC has been completed, a Certi cate of Dissolution has been issued and the Company has therefore been struck o the Register. e date of completion of the dissolution was the 17th day of April, 2026.
