The Tribune

Bacardi has pledged almost $1m towards helping small and micro businesses in the tourism sector recover from Hurricane Dorian’s devastation.

Executives from the Grand Bahama Port Authority (GBPA), Mercy Corps International (MC) and the American Red Cross (ARC) welcomed the manufacturer as an official supporting partner for the recovery efforts.

Bacardi executives visited Grand Bahama for the ceremonial signing of its $1m donation, which will specifically target businesses within the hospitality sectors. “Bacardi has pledged to put close to $1m behind the relief and reconstruction plans in Grand Bahama through our partnership with Mercy Corps and the Grand Bahama Port Authority,” said Mahesh Madhavan, Bacardi chief executive.

“We aim to directly support more than 40 businesses, helping them to rebuild and stand on their own two feet, and to support hundreds more with access to training. I’m very honoured and privileged to be here speaking on behalf of Bacardi, and to show our support for the people of Grand Bahama.”

Bacardi thus joins the GBPA and Mercy Corps as a partner in implementing the RISE grant initiative, which was launched in early December 2019. RISE has already awarded around $160,000 in recovery grant funding to-date, and Bacardi’s contribution will enable it to assist 200 business owners, doubling the original target.

“We welcome Bacardi as a new partner of the RISE programme with a specific focus on supporting businesses in the hospitality and food and beverage sectors. Their assistance will buttress an industry in which we foresee significant new foreign direct investment over the coming months, and one in which we forecast sustained growth in the medium term,” said Henry St George, GBPA director.

The partners discussed the needs of the small business sector with a group of successful grant applicants, including Stephanie Ferguson, president, and Buffie Dorset, partner, at Phoenix Brokerage & Shipping; Sherica Smith-Pinder, co-owner of Shabo’s Conch Salad; Charles Wayne Hall, owner of Local Organics; and Captain Patrick Cartwright, owner of Triple-A Boatcare & Maintenance. Mr Madhavan shared the story of family-owned Bacardi, and offered encouragement and hope to the group of entrepreneurs.

The RISE initiative provides grants of up to $10,000 in business recovery funding for eligible businesses.

“We’re excited to be teaming up with such talented partners to support the recovery of communities and small business owners in Grand Bahama,” said Michael Bowers, vice-president of humanitarian leadership for Mercy Corps. “Working together, we believe we can connect small business owners to the tools and resources they need to rebuild and grow.”