The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Taxi drivers were yesterday said to be “excited” about potential spin-off opportunities from the $250m Nassau cruise port overhaul, their union chief saying: “We don’t want to be left behind”.

Wesley Ferguson, the Bahamas Taxicab Union’s (BTU) president, told Tribune Business that union representatives met earlier this week with Global Port Holdings, which was selected earlier this year as the preferred bidder to undertake the port’s redevelopment.

“We met with them recently to sort of break the ice,” he said. “We had a meeting before but I wasn’t in attendance. The meeting on Monday went well. I had representatives from the dock and we were happy, for the most part, with what we heard.

“We want to know more abut where we fit in the overall scheme of things. We have indicated that in no way are we going to accept anything we didn’t agree to and have decisions for taxi drivers pushed down our throats. It’s not a take it or leave it situation. If it doesn’t feel right we will reject it.”

Mr Ferguson said 150 taxi drivers operate from the Prince George Wharf, and praised Global Port Holdings’ redevelopment plan as a good one. “Sometimes people are very pessimistic about changes,” he added. “However, change is necessary.

“It’s time they move ahead with the changes. The tourism product needs it. We are excited about changes. We just don’t want to be left behind or taken advantage of.”

Global Ports Holding, the UK-listed, Turkish-headquartered operator of 16 cruise ports spread throughout the Mediterranean, Asia-Pacific and Atlantic regions, was unveiled as the preferred bidder to take over Prince George Wharf’s management back in February.

It has pledged to provide a $10m interest free loan to small Bahamian retail investors to enable them to acquire shares in an investment fund that will have 49 percent equity ownership in the project. It wants 20,000 Bahamians to hold shares in The Bahamas Investment Fund that will be set up and administered by CFAL (the former Colina Financial Advisors).

Company officials have also promised to work “in harmony” with the Downtown Nassau Partnership (DNP) to help finance improvements to Bay Street and surrounding roads, and upgrade lighting and benches to make the area “a more attractive place where people want to linger” and spend money.

Global Ports Holding also plans to offer training initiatives to help small retailers and other businesses in areas such as product placement and merchandising, and also assist merchants not part of the cruise ships’ own marketing programmes.