The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The need for the Bahamas to have greater transparency and accountability in governance “cannot be stressed enough”, Transparency International’s local representative  said yesterday.

Lemarque Campbell, of Citizens for a Better Bahamas (CBB), warned that any perception of corruption could greatly impact this country’s international reputation and raise ‘red flags’ for investors.

He told Tribune Business: “Any perception of corruption can greatly impact our international reputation, as this would raise a number of red flags for investors.

“Along with the ease of doing business, corruption is a significant factor of consideration for any credible investor. American investors would have to think twice about investing in foreign markets that are perceived as corrupt.

“American investors are cautious because of the United States Foreign Corrupt Practices Act, which carries stiff penalties and possible prison time for Americans found to be influencing foreign officials with any personal payments or rewards.”

Mr Campbell’s comments came after this newspaper revealed that Minister of Education, Science and Technology, Jerome Fitzgerald attempted to secure millions of dollars in brokerage, trucking and limousine contracts at Baha Mar for his family’s business while he sat in Cabinet.

“It cannot be stressed enough that the Bahamas needs more transparency and accountability in government. We also need strong reforms to mitigate corruption, such as a Freedom of Information Act, a transparent public procurement process, whistleblower protection and political campaign finance reform,” Mr Campbell said.