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Wednesday, september 2, 2026

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1,300-job Exuma project ‘fallen by the wayside’ BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net AN EXUMA resort investment promising to create a combined 1,300 construction and full-time jobs has “fallen by the wayside” and will not proceed, Tribune Business can reveal. The Velaa Luxury Private Island Resort, which was being targeted for Norman’s Pond Cay and referenced in the “selected new foreign investment projects” detailed in the Central Bank of The Bahamas’ 2026 second quarter economic report, did not make it past the “preliminary discussion phase”.

The developer of what was intended to be a 239acre site, featuring 44 resort suites and villas plus 30 branded residences and other hotel-style accommodations, was identified as Island Development Group. Ryan West, Island Development Group’s principal, and who helped develop the renowned Necker Island private destination in the British Virgin Islands (BVI), owned by flamboyant British entrepreneur, Sir Richard Branson, confirmed in an e-mailed response to Tribune Business inquiries that the project is not moving ahead. “Island Development Group acted as lead on the opportunity you're

‘Lead’ developer confirms Norman’s Pond Cay deal ‘no longer active’ Never got past ‘preliminary talks’ on 239-acre resort development Firm led by Branson’s Necker Island developer still eyes Bahamas referring to, which is no longer active. While Island Development Group remains interested in The Bahamas, the prospective acquisition is not proceeding,” he confirmed. Floyd Armbrister, an Exuma-based real estate broker, appraiser, land

researcher and real property tax consultant with Imhotep Management, and whose family owns land on Norman’s Pond Cay, backed Mr West’s assessment. “There were some discussions regarding the matter. That one has fallen by the wayside,” he told this

Bahamas investor slams $232m US award as ‘insane’ BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net GOWON BOWE

Fiscal revision handling fosters ‘something to hide’ suspicions BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net THE GOVERNMENT is “giving rise to suspicions that something is being hidden” by its failure to be transparent and disclose changes to fiscal forecasts for two successive Budget years in a timely manner, a senior banker warned yesterday. Gowon Bowe, Fidelity Bank (Bahamas) chief executive and a member of the former Fiscal Responsibility Council, told Tribune Business the Government “is falling victim” to the outdated “trust me, I’ve got this” strategy and messaging employed by previous administrations rather than fully revealing critical developments good or bad - and explaining what they mean for Bahamians. Speaking out after it emerged that the Davis administration quietly changed the fiscal forecasts for both the closed 2025-2026 fiscal year, as well as the current 2026-2027 Budget period, at the last minute with no official announcement, he argued that this will only result in a “loss of trust” in the Government’s fiscal management by Bahamians as well as create “greater scrutiny” and scepticism moving forward. Urging the Government to break with past communications strategies, Mr Bowe told this newspaper that this “threatens to overshadow” positive developments such as the narrowing of the annual fiscal deficit compared to COVID levels. He added that the number of Bahamians simply seeking “credible” announcements has likely reached its highest level ever, and the electorate will have “far greater respect” for administrations that release bad news with the “same objectivity” as positive developments. “I think the Government is falling victim to the legacy position of telling the constituent base ‘just trust me, I have this’,” Mr Bowe said of the fiscal revision fall-out, “as opposed to appreciating the days and times they are in, and that the number of people simply looking for credible communication is probably at its highest level. “We have a number of positive developments that are taking place that are starting to become overshadowed by less than transparent decisions which

CHANGE - See Page B4

A BAHAMAS-BASED investor battling a $232m US court judgment yesterday asserted he is the victim of “a rip-off”, and vowed: “Every single person who has brought this pain to my life will pay.” Anthony Lyons, a British citizen who lives in Old Fort Bay, told Tribune Business he had been “screwed by the US legal system” in the fight with Dre Health Corporation, an American medical equipment supplier, which has withheld his $3m deposit despite failing to deliver a single COVID-19 mask from the five million boxes per week he had ordered over a six-month period starting in late 2021. Hitting out after this newspaper revealed Dre Health Corporation had come to The Bahamas in a second failed bid to freeze his assets, he said he had been “unanimously acquitted” following a tenday jury trial before the western Missouri federal court only for a US judge to subsequently overturn

that verdict and award the medical equipment supplier the $232m it is now seeking to collect. Legal documents seen by Tribune Business reveal that Judge Roseann A. Ketchmark, in a March 20, 2026, verdict overturned the jury’s decision due to purported “improper trial strategy and trial conduct” by Mr Lyons’ then-US attorney. However, court papers confirm that the Bahamas-based investor is pursuing two live appeals before the US eighth circuit court of appeals seeking “at minimum… a complete new trial” before a different judge. Mr Lyons, who has lived in The Bahamas since 2010 after amassing wealth from UK property investments, yesterday challenged how he can now be facing a $232m judgment when Dre Health Corporation has both retained his deposit and failed to deliver any of the COVID-19 masks and personal protective equipment (PPE) it was contractually obligated to provide. Separate legal documents show Dre Health Corporation retained $2m of the $3m paid by Mr Lyons and Berkley

Says he is ‘rip off’ victim in failed COVID mask deal ‘Screwed by US legal system’ rescinding jury acquittal

A DISABLED advocate yesterday called for 15 percent of monies paid into so-called universal service funds by Bahamian and Caribbean communications providers to be dedicated to boosting digital inclusion for the group. Kendrick Rolle, founder and lead consultant of the Disability Empowerment Outreach Group, speaking during Pia a panel disGlovercussion at the Rolle International Telecommunication Union’s (ITU) 2026 World Telecommunications Policy Forum being held in The Bahamas, said greater

it as “a private island ultra luxury resort on approximately 238.5 acres of Norman’s Pond Cay, featuring 44 resort suites and villas, 30 branded residences and 11 private estates of approximately three acres each. “The development will include multiple dining venues, an ‘Eveylaa’ well-being centre, fitness facilities, a kids club, a ninehole golf course, a dive shop and Bahamian-operated watersports activities. A ten-slip marina dock and seaplane facility is also planned. “The project is expected to generate approximately 800 construction-related jobs and 500 operational positions, while also creating opportunities for Bahamian entrepreneurship and local business participation.” Island Development Group describes itself on its website as the “leading name in private island development”. It adds: “Island Development Group specialises in the

DEVELOP - See Page B4

Cruise line makes Bahamas ‘linchpin’ via $350m outlay BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net

Equity, his BVI-domiciled corporate vehicle, but the British investor vehemently asserted that he “doesn’t owe these people a penny” and pledged: “I will prevail. I will win.” He was also unaware that the US medical equipment supplier, after the Missouri federal court rejected its initial bid, had applied to the Bahamian Supreme Court for an Order freezing his assets until Tribune Business’ report yesterday. This, attempt, too, was shot down by Justice Franklyn Williams KC on the basis there was insufficient evidence to prove Mr Lyons was seeking to transfer, dispose of or hide assets that could pay-off the judgment. Mr Lyons, who affirmed his US appeal is seeking to set aside the $232m award, blasted: “These people took my $3m deposit and

NORWEGIAN Cruise Line (NCL) says it has invested about $350m into its Great Stirrup Cay expansion with yesterday’s opening of its new Great Tides Waterpark the “linchpin” of a broader strategy to place more ships and visitors in The Bahamas and wider Caribbean. Dan Farkas, Norwegian Cruise Line Holdings’ executive vice president, general counsel and chief development officer, said the water park’s opening represents the culmination of around three years of planning, development and investment in the Berry Islands private island destination. “But, most importantly, it represents the linchpin of our new Caribbean strategy,” said Mr Farkas. “We have placed a lot of ships into the Caribbean, and this is the linchpin of it. They are all going to come here and bring their guests here.” The Great Tides Waterpark features a range of attractions, including large water slides and a children’s water-play area, while the wider Great Stirrup Cay development also includes the Silver Cove area with private cabanas. Mr Farkas said the expansion is designed to give Norwegian’s cruise guests different experiences at the destination, ranging from more exclusive offerings at Silver Cove to family-oriented attractions at the water park. He said Norwegian expects the waterpark to handle around 700,000 visitors by the end of next year. “I would estimate that, by the

CHALLENGE - See Page B4

GROW - See Page B5

Pledges to ‘win’ appeal; ‘thank God’ for Bahamas judge

‘Dedicate 15% of universal fund to digital inclusion for disabled’ BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net

newspaper. “No, it’s not moving forward. That’s a fact. There were just some preliminary discussions. I was talking to them on behalf of the family, but some other people own property there also.” Asked whether the Norman’s Pond Cay proposal was likely to be revived, Mr Armbrister replied: “Not at the moment, but if a new developer wants to come by land is available. If someone wants to buy it, come to me.” The Central Bank’s description of the seemingly defunct project, which was based on information supplied by the Government’s Bahamas Investment Authority (BIA), describes

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access to technology and related training could allow persons with disabilities to enter digital workforce spaces that may otherwise remain inaccessible. “Once they are trained using accessible devices, they are now able to enter the inclusive digital space and they will be able to work remotely - data entry, online monitoring, and other stuff like that,” Mr Rolle said. He added that this could be particularly beneficial for persons who are blind, deaf or hard of hearing, as well as people with neurodiverse challenges. Mr Rolle also called on governments across the Caribbean to dedicate a portion of their universal service funds towards digital inclusion initiatives for persons with disabilities. “The universal service funds that most Caribbean nations have access to, it is driven by taxing the telecommunications service providers,” he said. “They need to adopt that concept in using 15 percent of

COMMUNICATE - See Page B5


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