New Category : Finance

Finance ministry 'not satisfied' with cost for new prison

Finance ministry 'not satisfied' with cost for new prison

Wed, Jul 26th 2023, 08:15 AM

Months after revealing that the cost to construct a new prison facility at the Bahamas Department of Correctional Services (BDOCS) had doubled, Minister of National Security Wayne Munroe said yesterday the Ministry of Finance is "not satisfied" with the cost of the project and is currently awaiting a more "acceptable" figure.

In March 2022, Munroe said the new facility will cost around $35 million to $40 million. However, in May of this year, Munroe revealed that the cost had increased to $90 million.

He told reporters yesterday, "There was an approval for the Ministry of National Security, the PPP (public private partnership) investor, and the Ministry of Finance to finalize the details. The Ministry of National Security and BDOCS would be concerned with the scope, [Ministry of] Finance would be concerned with the dollars and cents.

"[Ministry of] Finance has said that it's not satisfied with the dollars and cents and sent the parties back to come up with something that they may find acceptable.

"I'm due to have a presentation on that, whether that relates to issues around the scope; for instance, asking for VAT or customs duties exemption, that would be matters that would be addressed.

"But at the end of any procurement, the Ministry of Finance has to be satisfied before it will provide funds. And so, that is my understanding of what has happened. It is not unusual."

After Munroe previously revealed that the cost had doubled, Opposition Leader Michael Pintard questioned the "staggering" increase, noting that the government should be "very transparent with all of that information just so that the public can be reasonably assured that they have done all of the things that they are required to do by law".

However, Munroe noted that this increase was set to cover not only the new prison facility, but also the virtual court.

"The government isn't paying $90 million for this to be built. The government on the current proposition is paying $9 million and then they (Walker's Industries) will have to build this to completion with us not paying one penny more," Munroe previously stated.

"They have to hand it over to us, turnkey, ready to go, and then we will pay them the balance of the money over 10 years for the prison and eight years for the [virtual] court.

"The virtual court that is currently undersized is to be demolished and reconstructed to accommodate the Court of Appeal, Supreme Court and Magistrate's Court."

While he hoped that work would have started on the facility by January 15 of this year, Munroe said his ministry is "still pushing" for work to begin soon.

"We're still pushing for it because it's being designed to meet a number of urgent priorities," he said yesterday.

"One, [with] the Mental Health Act being brought into force, there are components that are designed directly for that. The continual reports about the conditions of the existing prison, which is what we have, drives our staff to improve it. And the need to move from a prison to a correctional facility where we turn out people better than they were when they went in, drives our staff to do this."

Local and international human rights agencies have long criticized conditions at the prison.

The United States Department of State, in its 2021 report, noted the facility's "harsh" conditions.

The American Correctional Association, in its 2022 assessment, also advised against the facility's outdated design.

Thus, according to Munroe, "... an administrative block, parole block, mental health housing unit, mental health clinic and chapel were added to permit certification as a correctional institution," adding that the new facility "will house 820 inmates and will include a special unit for mentally ill patients".

Acting Commissioner of Corrections Doan Cleare previously stated that the new prison will be a "contained air conditioned" facility with eight "medium security dorms [which] will be now retrofitted into eight BTVI dorms" to offer training for inmates in carpentry and plumbing.

Deltec Bank sponsors the next generation of sailing talent

Wed, Jul 12th 2023, 09:31 AM

Deltec Bank and Trust Limited (Deltec Bank) is pleased to announce its sponsorship of the Bahamas National Sailing School, marking the country's 50th anniversary of Independence.

The sponsorship program will cover the costs associated with professional sailing lessons for 10 students, in the amount of $30,000, and the purchase of new sailing boats for the school. Deltec Bank will also host the spring championship in 2024, which represents an exciting third and final qualifier for international race teams.

As a maritime nation, The Bahamas has a rich history of sailing, as a means of inter-island transportation of goods, primarily in the fishing industry, and as a leisure and competitive sport. This past April, in the House of Assembly, a motion was passed to name sailing as the national sport of The Bahamas, underpinning the Bahamian spirit and evolution of the sport in the country. A pillar of The Bahamas' community, providing greater access to sailing was a natural step for Deltec Bank and its ongoing local stewardship.

"Sailing has long been a part of the fabric of The Bahamas, and despite our global reach, Deltec Bank has always been proud to call The Bahamas home," said Chief Executive Officer (CEO) of Deltec Bank and Trust Odetta Morton. "We strongly believe in the power of sport and education to open doors to opportunity and are proud to contribute to The Bahamas' rich maritime culture by investing in the next generation of sailing talent."

Since the announcement of sailing as the country's new national sport, the Bahamas National Sailing School has received a surge of interest from youth keen to learn the basic skills this summer. Alumni of the school have gone on to sail at the collegiate level, acquired college scholarships based on their sailing merit, and even entered careers in the industry. Although the school endeavors to make the sport available to Bahamian youth from all walks of life, as a non-profit organization, it relies on funding from the government and private sectors to continue its operations and associated events, including its annual optimist national championship, a sailing event that takes place at the Nassau Yacht Club in October.

After the Deltec Bank Spring Championship, top sailors will be selected to attend the world championships, and the North American and European championships, representing The Bahamas.

"We are incredibly grateful and excited to partner with Deltec Bank to advance our sailing programs this summer. Our motto has always been rooted in making a difference in the lives of youth through sailing and teaching our students to stay focused on making their dreams come true," said Emma Tinkler, representing the Bahamas National Sailing School. "Deltec Bank's support not only helps us fulfill our mission of providing accessible sailing education, but it also directly supports our students in achieving their ambitions."

The official check presentation with the Deltec-sponsored students was held yesterday, and the new sailing boats will be operational by early next year.

The Bahamas National Sailing School offers comprehensive educational programs, training opportunities, and competitive events for the youth across the nation. The school strives to create a sustainable sailing ecosystem that aids in the development of the next generation of national and international sailing champions.

Colina Celebrates Top Primary School Students

Fri, Jun 30th 2023, 11:58 AM

Colina Insurance Limited (Colina) partnered with The Bahamas Primary School Student of the Year Foundation (BPSSYF) for another consecutive year.

Since 1997, BPSSYF has awarded 2.2 million dollars in scholarships and prizes to hundreds of students across the islands of The Bahamas.

“The best and brightest primary school students have been recognized since the foundation’s inception,” noted Ricardo P. Deveaux, President and CEO, Bahamas Primary School Student of the Year Foundation.

“Colina is Bahamian owned. We are committed to the education and empowerment of youth in The Bahamas through partnerships with the Foundation and other organizations,” said Maxine V. Seymour, Director, Corporate Communications, Colina.

“The Foundation would like to offer our appreciation for Colina’s support of our efforts to reward academic excellence in The Bahamas Primary School Student of the Year Awards Program,” said Ricardo P. Deveaux, President and CEO, Bahamas Primary School Student of the Year Foundation.

Anaelle Gay, a sixth grade student at Windsor School, ranked 17th among 123 of The BPSSYF nominees, receiving the Patron’s Scholarship from Colina.

The BPSSY’S contribution to students through its award programme allows Colina to be steadfast in its commitment to youth development and education, positively influencing future generations.

The award ceremony was held on Saturday, June 10, at the Evangelistic Temple.

For additional information on The Bahamas Primary School Student of the Year Foundation and this year’s nominees, visit http://www.bahamaspstoy.org.

About The Bahamas Primary School Student of the Year Foundation

Since 1997 The Bahamas Primary School student of the year has awarded $2.2 Million dollars in scholarships and prizes to hundreds of students across the islands of The Bahamas. They are proud to be able to continue to help develop the future leaders of the nation 27 years later.

Colina Insurance Limited (Colina) partnered with The Bahamas Primary School Student of the Year Foundation (BPSSYF) for another consecutive year. Since 1997, BPSSYF has awarded 2.2 million dollars in scholarships and prizes to hundreds of students across the islands of The Bahamas. “The best and brightest primary school students have been recognized since the foundation’s inception,” noted Ricardo P. Deveaux, President and CEO, Bahamas Primary School Student of the Year Foundation. “Colina is Bahamian owned. We are committed to the education and empowerment of youth in The Bahamas through partnerships with the Foundation and other organizations,” said Maxine V. Seymour, Director, Corporate Communications, Colina. “The Foundation would like to offer our appreciation for Colina’s support of our efforts to reward academic excellence in The Bahamas Primary School Student of the Year Awards Program,” said Ricardo P. Deveaux, President and CEO, Bahamas Primary School Student of the Year Foundation. Anaelle Gay, a sixth grade student at Windsor School, ranked 17th among 123 of The BPSSYF nominees, receiving the Patron’s Scholarship from Colina. The BPSSY’S contribution to students through its award programme allows Colina to be steadfast in its commitment to youth development and education, positively influencing future generations. The award ceremony was held on Saturday, June 10, at the Evangelistic Temple. For additional information on The Bahamas Primary School Student of the Year Foundation and this year’s nominees, visit http://www.bahamaspstoy.org. About The Bahamas Primary School Student of the Year Foundation Since 1997 The Bahamas Primary School student of the year has awarded $2.2 Million dollars in scholarships and prizes to hundreds of students across the islands of The Bahamas. They are proud to be able to continue to help develop the future leaders of the nation 27 years later.

RBC Partners with ADO, $50,000 donation with volunteers planting gardens to feed 150 households

Wed, Jun 28th 2023, 02:19 PM

Under a broiling sun, a team of 25 RBC volunteers planted rows of baby greens, reaching into an agricultural past to provide for a better tomorrow and transforming a parking area into a churchyard garden with enough fresh produce to assist up to 150 households.

The event that took place on June 24 at the Pilgirm Baptist Church, St. James Road, was the first collaboration between the Bahamas’ oldest banking institution, RBC, and the Agricultural Development Organization (ADO).

It also coincided with the National Day of Service – a day when civic organizations, churches and volunteers committed to giving back to the community as a part of the nation’s 50th anniversary celebrations.

“With a generous sponsorship of $50,000, RBC is delighted to assist ADO in funding the development of community greenhouse gardens and providing backyard garden kits to neighborhoods across New Providence and Exuma,” explained RBC Royal Bank (Bahamas) Managing Director LaSonya Missick.

“At RBC, our purpose is to help our clients thrive and our communities prosper. For us, this initiative helps to cultivate a future of self-sufficiency in our country’s food supply. We also see it as empowering our communities and fortifying their relationship with the land that sustains us.”

Declaring “no garden could ever fully bloom without a dedicated team of growers,” the managing director said, “our goal is to bring the fruits of our labour to as many as 150 households

in this community, enabling them to reap the benefits of fresh, home-grown produce,” she continued.

ADO Executive Chairman Philip Smith thanked RBC.

“For 17 years, I helped feed the needy. I saw what hunger could do to people,” said Smith, who started by sharing loaves of bread he baked in a small home oven. In 2013, he created the Bahamas Feeding Network which has provided more than two million meals.

“The need to feed will always exist,” Smith said, “but if we can grow more of what we eat and eat more of what we grow, not only will we win this battle against hunger, but we will also nurture a healthier population in our nation. I thank RBC for its incredibly generous donation of $50,000 and…volunteerism of the folks who came to this churchyard today in one of Nassau’s most economically challenged communities to help us celebrate the planting of another community farm where we share what we grow and feed our souls and spirits as we do.”

RBC’s Managing Director called the volunteer planting “the beginning of a fruitful partnership. RBC and ADO are committed to working hand in hand on future projects to improve the lives of our citizens and the prosperity of our country. At RBC, our commitment to The Bahamas is unwavering – both now and well into the future. We are eager to grow together with our communities and contribute to a vibrant and thriving Bahamas.”

ADO partners with the Church Commercial Farming Group to provide field mentors to be assigned to every garden, overseeing planting, providing ongoing advice, documenting and reporting progress and helping to ensure the greatest success.

Under a broiling sun, a team of 25 RBC volunteers planted rows of baby greens, reaching into an agricultural past to provide for a better tomorrow and transforming a parking area into a churchyard garden with enough fresh produce to assist up to 150 households. The event that took place on June 24 at the Pilgirm Baptist Church, St. James Road, was the first collaboration between the Bahamas’ oldest banking institution, RBC, and the Agricultural Development Organization (ADO). It also coincided with the National Day of Service – a day when civic organizations, churches and volunteers committed to giving back to the community as a part of the nation’s 50th anniversary celebrations. “With a generous sponsorship of $50,000, RBC is delighted to assist ADO in funding the development of community greenhouse gardens and providing backyard garden kits to neighborhoods across New Providence and Exuma,” explained RBC Royal Bank (Bahamas) Managing Director LaSonya Missick. “At RBC, our purpose is to help our clients thrive and our communities prosper. For us, this initiative helps to cultivate a future of self-sufficiency in our country’s food supply. We also see it as empowering our communities and fortifying their relationship with the land that sustains us.” Declaring “no garden could ever fully bloom without a dedicated team of growers,” the managing director said, “our goal is to bring the fruits of our labour to as many as 150 households in this community, enabling them to reap the benefits of fresh, home-grown produce,” she continued. ADO Executive Chairman Philip Smith thanked RBC. “For 17 years, I helped feed the needy. I saw what hunger could do to people,” said Smith, who started by sharing loaves of bread he baked in a small home oven. In 2013, he created the Bahamas Feeding Network which has provided more than two million meals. “The need to feed will always exist,” Smith said, “but if we can grow more of what we eat and eat more of what we grow, not only will we win this battle against hunger, but we will also nurture a healthier population in our nation. I thank RBC for its incredibly generous donation of $50,000 and…volunteerism of the folks who came to this churchyard today in one of Nassau’s most economically challenged communities to help us celebrate the planting of another community farm where we share what we grow and feed our souls and spirits as we do.” RBC’s Managing Director called the volunteer planting “the beginning of a fruitful partnership. RBC and ADO are committed to working hand in hand on future projects to improve the lives of our citizens and the prosperity of our country. At RBC, our commitment to The Bahamas is unwavering – both now and well into the future. We are eager to grow together with our communities and contribute to a vibrant and thriving Bahamas.” ADO partners with the Church Commercial Farming Group to provide field mentors to be assigned to every garden, overseeing planting, providing ongoing advice, documenting and reporting progress and helping to ensure the greatest success.