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$200m renewable fund eyes summer ‘24 launch
The Ministry of Finance’s top official yesterday said he is targeting summer 2024 for the launch of an up to $200m fund that will finance renewable energy’s build-out across The Bahamas.
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FACE TO FACE: Caribbean diaspora key to sustainable future of tourism
THE Bahamas’ Director of Investments, Phylicia Hanna, says the Caribbean Diaspora has a key role to play in the future of tourism, the number one industry in most of the countries in the region. By expanding their reach from the United States to countries like the Bahamas, she believes, Diasporans could increase their wealth while supporting the natives in their homeland.
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Renewable investors tour Eleuthera plants
A group of potential investors yesterday toured Eleuthera power plants as the Government’s Family Island renewable energy sought to build momentum.
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BISX chief: What about Bahamas Food Services?
The Bahamas International Securities Exchange’s (BISX) chief executive is challenging why the decade-old pledge for an initial public offering (IPO) of the former Bahamas Food Services has yet to be fulfilled.
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ArawakX issuers await funds, investor listing
Two companies that raised equity capital through the embattled ArawakX crowd-funding platform yesterday complained that they are either still owed money or have yet to learn who their new shareholders are.
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A new dawn
ActivTrades
The Securities and Exchange Commission (SEC) in the US has approved exchange-traded funds (ETFs) investing in the digital currency, Bitcoin, after a long period of hesitation. In the struggle with Bitcoin proponents, including large banks and asset managers, the SEC admitted defeat and ultimately allowed Bitcoin ETFs.
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More than 100 investors at risk of losing crowdfund investment
A former Colina Insurance Company chief and at least 115 fellow investors are in peril of losing most, if not all, their combined $2.4m-plus investment in the insolvent ArawakX crowd-funding platform.
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ArawakX dismissed top investor as ‘over his head with Fintech’
ArawakX’s chairman dismissed the company’s largest investor as someone who “can’t use a computer” and was “over his head on Fintech” after he turned whistleblower over its financial, governance and regulatory concerns.
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Founder interest ‘four times’ higher than Jack’s Bay goal
Sir Franklyn Wilson yesterday said the 1,200-acre Jack’s Bay project has attracted interest from “four times” the number of founding buyers it is targeting while receiving “a very strong endorsement” from Scotiabank.
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ArawakX ‘to be reported’ to police amid $4m insolvency
The Bahamas’ first-ever crowd funding platform is suffering from a near-$4m insolvency, its provisional liquidators have asserted, as they prepare to report “multiple criminal infractions” to the police.
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Crowdfund platform set to address pledge difference
The ArawakX crowdfunding platform is upgrading its website to address the difference between what is pledged by investors and the actual amount a company raises from an offering.
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North Andros hopeful on ‘greener’ BPL plant
Bahamas Power and Light’s (BPL) pledge to construct a hybrid or renewable power plant on North Andros could bring more investors to the island, its Chamber of Commerce president said yesterday.
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The world is getting smaller
ActivTrades
For the past three months, the MSCI World index has been posting losses. The index is one of the most important building blocks for long-term equity savers.
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‘No choice’ but to go Bahamian
The Government must build greater “trust and confidence” in its fiscal plan among Bahamian investors given it has “no choice” but to almost exclusively tap the local capital markets to meet its nine-figure deficit financing demands.
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GBPA reforms critical as 'we're at the bottom'
A prominent Freeport attorney is today backing a Government takeover of the Grand Bahama Port Authority (GBPA), telling Tribune Business: "We're at the bottom and haven't moved for 20 years."
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RF fund's $120m excess is 'good problem to have'
A Bahamian investment bank says its largest mutual fund is receiving investor subscriptions as fast as it can invest them, branding the situation as "a good problem to have".
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Footcare provider targets new investor capital raise
A BAHAMIAN footcare provider plans to tap its investors for further equity this summer as it pushes forward with further expansion following an initial roll-out that “surpassed expectations”.
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‘Irresistible inference’ ArawakX misused client funds to pay bills
ArawakX’s use of a loan from its largest investor to pay sums due to crowd-funding issuers and subscribers creates “the irresistible inference” it was using client funds to cover operating expenses, regulators charged yesterday.
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ArawakX won’t give top investor his 22%
The Bahamas’ first-ever crowd-funding platform plans to bar its largest investor from taking a 22 percent equity stake in the business following the fall-out that triggered its present regulatory woes.
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Abaco Chamber chief fears port PPP costs
Abaco's Chamber of Commerce president yesterday voiced concerns that outsourcing the Marsh Harbour port's redevelopment to private investors will increase the cost of living on the island.
