masair acting chief financial officer is demanding $1.111m in total damages over allegations that she was forced out after exposing “significant financial governance concerns” that threatened to cost both the travelling public and taxpayers.
Claudia Pinder, in a March 6, 2026, legal claim filed with the Supreme Court is asserting that she identified “deficiencies” in internal controls and approvals processes, plus “structural weaknesses” in signatory authority over the national flag carrier’s bank accounts, as well as concerns over almost $2m per year that was paid to staff in “allowances” in excess of regular salaries. However, she claims that when these “governance
Ex-CFO claims ousted after exposing ‘financial governance concerns’
Alleges almost $2m paid out yearly in staff ‘allowances’ above salary But airline ‘marginalised’ her and ‘orchestrated’ April 2023 dismissal
concerns” were raised with Bahamasair’s senior management, she was subjected to a campaign where she was “marginalised” and undermined, with Tracy Cooper, the airline’s managing director, subsequently informing Ms Pinder that unspecified “complaints” had been made about her by other staff.
Asserting that these complaints were “fabricated”, Ms Pinder alleged that her ‘whistleblowing’ ultimately
Bahamas has no laws to ban forced labour goods
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
CUSTOMS’ top official says The Bahamas has no laws, policies or regulations in place to detect and prevent the importation of goods produced by forced labour after this nation was named among 60 currently being investigated by the Trump administration over such practices.
Ralph Munroe, Customs comptroller, told Tribune Business he personally believes it is virtually “impossible” to determine whether any goods, or their components, are being manufactured using forced labour after the US Trade
Representative’s Office said it was investigating many of its major trading partners to determine if they have implemented - and are enforcing - measures to ban the importation of such products.
“There are no policies with respect to these types of matters. No, none at all,” Mr Munroe said, when asked by this newspaper whether The Bahamas has any laws, policies or regulations to address the concerns cited by the Trump administration. “None that I am aware of, and certainly none that I have been asked” to enforce.
Spanish Wells triumphs on ‘absurd’ solar energy tariff
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
SPANISH Wells residents have emerged victorious in the battle to force their electricity provider to pay higher compensation for renewable energy fed back to its grid after it initially offered a sum equal to just over 10 percent of what it charges consumers.
The Utilities Regulation and Competition Authority (URCA), unveiling the results of the public consultation on St George’s Cay Power Company’s renewable energy plan, said it will
mandate that the electricity provider - which supplies power to around 1,300 business and residential customers on Spanish Wells and Russell Island - must pay the equivalent of that month’s fuel charge as compensation to solar system owners who sell excess energy back to its grid.
The regulator acted after multiple residents, as well as the Spanish Wells community collectively, branded the $0.05 (five cents) per kilowatt hour compensation offered by St George’s as “absurd” and far too low
resulted in her “orchestrated” termination without cause at an April 13, 2023, meeting with Bahamasair’s senior management. She is claiming that her firing “was not motivated by performance or misconduct, but was instead a retaliatory act intended to silence internal reporting of governance failures” within Bahamasair. And, besides claiming damages for wrongful dismissal and breach of contract, Ms Pinder is
also alleging she has been unable to secure fresh employment following her termination because Bahamasair has “provided negative and misleading references” about her to potential employers.
As a result, she is seeking a Supreme Court Order that Bahamasair not only pay her $170,000, representing the loss of two years’ salary had she remained with the national flag carrier, plus her bi-weekly allowance and health insurance benefits, but also a further $250,000 for “loss of future earnings capacity” over a three-year period. A further $150,000 is being sought for “damage to professional reputation”; $100,000 for “emotional distress and humiliation”; and a combined $400,000 for “aggravated and exemplary” damages.
Economist: Bahamas lottery can ‘co-exist’ with web shop sector
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
A BAHAMIAN economist is calling for revived discussions on the merits of introducing a national lottery as he argued that it can successfully “co-exist” with the domestic web shop gaming industry.
Rupert Pinder, assistant professor of economics at the University of The Bahamas (UoB), told Tribune Business that establishing a national lottery model similar to that of Barbados would serve as a more effective means of both raising - and directing - funds generated by ‘games of chance’ to critical social and community initiatives.
He added that this would, in turn, ease demands on the Government’s Budget and Bahamian taxpayers to provide the necessary financing for areas such as social welfare, community development and health and education - especially
since the state has “limited fiscal headroom”.
Mr Pinder, suggesting that a Bahamian national lottery could generate “millions” annually for funding ‘good causes’, told this newspaper that any discussion should avoid the merits or otherwise of web shop gaming as “we’ve already born that baby”. He suggested that a national lottery could even be “integrated” with, and offered as part of, the existing games and services provided by the web shops, with its operation and management outsourced to a private Bahamian consortium.
RUPERT PINDER
Growth and control tension must be properly managed
It is no longer theoretical to discuss the tension between growth and control. Throughout this author's two decades of experience, the relationship is operational, constant and often unspoken in many spaces. There is a pressing need for expansion, market share growth and revenue acceleration, as identified by a company’s Board. However, simultaneously, regulations require discipline, transparency and embedded risk management. Leaders will need to reconcile both within the same systems, teams and decision-making processes.
This article examines why such tension is structural, what questions Boards should be asking instead, and how leadership translates competing expectations into disciplined execution.
Tension is systemic
Some business executives suggest there is a conflict
between growth and control because, in practice, they compete for the same organisational capacity. It is the inherent conflict between growth, which increases complexity, and control, which requires consistency. When the two are not deliberately aligned, companies expand faster than they can govern and manage.
McKinsey’s 2024 ‘State of Organisations’ report reinforces this reality by highlighting that companies face increasing complexity from regulatory pressures, digital transformation and market expansion. In addition, they struggle to adapt their operating models at the same pace. The result is execution strain and fragmented decision-making rather than sustained performance. At the same time, regulatory expectations have shifted. Institutions are expected to demonstrate that risk management is embedded within their business activity, not applied after execution. Therefore, this tension is not merely situational, but structural.
Boards need better questions
Boards continue to ask:
‘How do we grow the business?’ This author would argue that the more relevant question is whether that growth can be sustained
Pintard: Renewable deals are ‘triple’ Caribbean costs
BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Opposition’s leader yesterday renewed his attack on the Government’s energy reforms by asserting that Family Island residents will be paying two to three times’ as much as their Caribbean counterparts for renewable power with Bahamians set to carry the bulk of the “risk” and associated cost, Michael Pintard, basing his comments on a 22-page review titled ‘Where the new energy era’ falls short, asserted that Bahamas Power & Light (BPL) is “locked in” to pay the independent power producers (IPPs) supplying
utility-scale solar on the Family Islands and average of between 23 cents and 25 cents per kilowatt hour (KWh) as a “fixed charge” before expenses such as liquefied natural gas (LNG) are factored in.
The report he cited, which carries no author’s name, named San Salvador, Long Island, Central and North Andros as examples of renewable energy deals where these rates prevail. “Bahamians are being charged two to three times more than everyone else in the region,” Mr Pintard asserted.
“The Bahamas is paying almost triple what our neighbours pay. That is not progress. That is Bahamians getting a bad deal
while private companies get rich.” The report added: “The New Energy Era PPAs (power purchase agreements) commit BPL to renewable energy prices that are materially higher than regional benchmarks and significantly exceed what global IPPs typically charge for utility-scale solar or solar-plus-storage systems.
“Across nearly every major PPA, the base fixed energy price alone ranges from approximately $0.232 to $0.25 per KWh, in most cases before adding LNG logistics charges, commodity fuel charges, CPI (inflation) escalators and other price components.”
The report argued that these prices are “two to
while accounting for regulatory constraints and the company’s risk appetite. This question automatically leads to the crossroads of ambition versus alignment. This is because growth that outpaces operational capacity introduces risks that are often invisible at their inception, but later manifests as delays, inconsistent execution and reactive oversight.
Harvard Business Review has recently emphasised that executives who align strategy with execution capability are more likely to deliver sustainable performance. In contrast, those who pursue expansion without sufficient company alignment experience breakdowns in delivery and accountability.
Boards should therefore shift their focus to asking whether the company has the capacity, structure and discipline to support it. They should examine incentive design, escalation
effectiveness and whether performance metrics reflect both the quality of outcomes and volume. Without this shift, Boards risk encouraging growth that the company cannot absorb.
Translating expectations into discipline
The role of leadership in this apparent tug-of-war is to reconcile growth with control. Policy and oversight are not sufficient to achieve this goal. Developing structural discipline is the key to achieving this goal. Moreover, there must be clarity in decision rights. Also, incentives should not only reward speed but also sustainable outcomes. It is important to view escalation as a sign of control, not weakness. Most importantly, risk considerations must inform decisions at design. Where this discipline is absent, the outcome is unpredictable. Growth becomes unstable. Control
three times’ higher than Caribbean regional averages”, citing Turks & Caicos as charging between $0.11 and $0.13 per KWh, while comparable tariff rates in Jamaica were between $0.085-$0.09 per KWh. Barbados was said to be at between $0.10 to $0.12 per KWh, and Bermuda at $0.11 per KWh for largescale solar.
“Across the Caribbean, utility-scale solar PPAs have consistently cleared at $0.08–$0.13 per kWh for the past five to seven years, even on island grids with higher logistical costs. Examples include Jamaica, Barbados, Bermuda and Turks & Caicos, all of which have procured large solar projects at or below 10–12 cents per KWh,” the report relied on by Mr Pintard asserted.
“Against this backdrop, BPL’s signed PPAs - 23 to 25 cents before fuel or logistics charges— - are outliers and, in some cases, almost triple benchmark pricing.”
The report asserted that the full cost Family Island residents will pay for energy will go even higher once the LNG-logistics costs and pricing is added in, with BPL “locked into high, rigid obligations regardless of future market conditions”.
It added that the Family Island renewable energy deals “are optimal for investors, but costly for consumers” given their 25-year terms and “strong take-orpay provisions” requiring
BPL to accept the generation supply provided. This “creates a pricing structure tilted strongly toward predictable private returns, while leaving the risk of cost escalations with BPL and the Bahamian public”, the report for the Opposition argued.
“BPL’s costs are guaranteed to go up every year, automatically, for the next 25 years,” Mr Pintard said. “Buried inside these contracts is a clause that automatically raises prices every single year. The minimum increase is 2.5 percent. The maximum is 5 percent, and this goes on for 20 to 25 years, whether the service improves or not.
“Other islands in the Caribbean allow prices to go down when conditions improve. Not under the PLP. These contracts only go one way: Up.”
Jobeth Coleby-Davis, minister of energy and transport, did not respond to Tribune Business requests for comment before press time last night.
However, she previously said one goal of the Government’s energy reforms is to move from the old model where BPL used New Providence to provide a $50m annual subsidy to the Family Islands so as to keep electricity costs there artificially low and in line with one uniform national rate.
Translating her comments, Family Island residents will now be paying closer to the true
becomes reactive, ultimately weakening confidence. In short, the tension between growth and control will persist. It is not a problem to eliminate but a condition to manage. This author believes the real question is whether your company is structured to deliver both or relies on correction after the fact.
• NB: About Derek Smith Jr Derek Smith Jr has been a governance, risk and compliance professional for more than 20 years with a leadership, innovation and mentorship record. He is the author of ‘The Compliance Blueprint’. Mr Smith is a certified anti-money laundering specialist (CAMS) and holds multiple governance credentials. He can be contacted at hello@ pineapplebusinessconsultancy.com
cost of generation now these subsidies are being removed. However, the Government’s hope is that switching to cheaper utility-scale solar and LNG, and away from more expensive heavy fuel oil and automated diesel, will still lower the all-in cost of energy in these locations by slashing the fuel cost.
Mr Pintard, meanwhile, argued that Bahamians have been left “holding the risk and the bill” for post-hurricane restoration of New Providence’s energy grid due to the terms of the Heads of Agreement with Bahamas Grid Company, its new owner and operator that is 60 percent privately owned, and its Island Grid manager.
“A private company now controls 60 percent of the New Providence power grid, but when a storm comes and tears that grid apart, the contract makes clear who is responsible for the repair bill. Not the private company. Not the investors. The Bahamian people,” the Opposition leader asserted.
“There is a hurricane fund written into the deal, but Bahamians pay into it through their bills. The private company contributes nothing. There is no requirement for them to carry hurricane insurance. There is no guarantee they absorb any of the cost when a major storm hits. The private company keeps collecting its fees while the public pays to rebuild the system the private company controls.”
Utilities have found it near-impossible to obtain insurance for their transmission and distribution networks in hurricane prone areas because they are almost inevitably damaged when a catastrophic event hits, costing millions to repair. This was why Grand Bahama Power Company introduced a storm recovery and infrastructure repair charge to customer bills in the aftermath of the last hurricanes to strike that island.
BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
THE Exuma Chamber of Commerce’s president said the Government’s move to develop affordable housing on the island could serve as a further catalyst for economic expansion by unlocking investment and business activity long constrained by a lack of workforce accommodation.
Ethen Hanna backed the Davis administration’s initiative to transfer 60 acres of land to the Ministry of Housing for the development of a 200-lot
subdivision, describing it as “an important step” towards addressing one of Exuma’s most pressing challenges. “This important step reflects a clear commitment to addressing one of the most pressing challenges facing our communityaccess to attainable, quality housing for residents and future generations,” he said.
Mr Hanna said housing constraints have remained closely tied to the island’s economic growth, noting that sustainable economic expansion depends on the ability of workers and families to live within the communities they serve.
“Since being appointed, I have actively advocated for strategic solutions to housing constraints, recognising that sustainable economic growth is deeply tied to the ability of individuals and families to live and thrive within the communities they serve,” said Mr Hanna.
He added that the expansion of affordable housing would deliver benefits beyond home ownership, including stabilising the local workforce and easing cost of living pressures.
“Increasing access to affordable housing will help stabilise the local workforce, reduce the cost of living burden on families,
Bahamian realtor agency in rebrand and relaunch
A BAHAMIAN real estate agent has unveiled its official relaunch as a boutique real estate agency dedicated to the high-end market.
and create opportunities for young professionals and skilled workers to remain in or relocate to Exuma,” said Mr Hanna.
From a business perspective, the Exuma Chamber president said the availability of affordable housing is a “critical enabler” of economic development, with employers across key sectors such as tourism, construction, retail and maritime services consistently identifying housing shortages as a barrier to recruitment and retention.
“By addressing this issue, the Government is not only supporting residents but also unlocking
commitment to exceptional service, market expertise and delivering outstanding results for our clients both locally and abroad.”
new potential for business expansion, entrepreneurship and investment,” he added.
Mr Hanna also pointed to the broader economic impact of the planned housing development, noting that construction and related infrastructure works are expected to stimulate activity for local contractors and small businesses.
“Local contractors, suppliers and small businesses stand to benefit directly, while increased population stability enhances consumer confidence and spending across the island,” said Mr Hanna.
He added that the use of Crown Land for housing presents an opportunity to drive growth while ensuring long-term sustainability once projects are carefully planned and executed.
“It is also critical to emphasise the importance of sustainable and wellplanned development,” Mr Hanna said, urging “resilient building practices, environmental stewardship and infrastructure planning that aligns with Exuma’s unique ecological and cultural landscape”. Mr Hanna said the Chamber remains committed to working with the Government and other stakeholders to support the roll-out of the housing programme, and to advance policies that promote inclusive growth, economic resilience and an improved quality of life for Exuma residents.
Jolie Luxury Homes, formerly Condo Vikings Realty, said the rebrand brings a refreshed identity, a new user-friendly website and a team of realtors with both national and international exposure, combining local knowledge with customer service. Under the new Jolie Luxury Homes banner, the agency said it will continue to specialise in premier residential, investment and commercial properties across The Bahamas, offering personalised service for buyers, sellers and investors seeking products including coastal estates, vacant land, private islands and highend condominiums.
Legal Notice
MES LTD.
Company Registration No. 75290 C
(in Voluntary Liquidation)
NOTICE is hereby given pursuant to Section 218 of the Companies Act, 1992 as amended and pursuant to a Resolution of the Board of Directors of MES LTD. on the 2nd day of February A.D., 2026 it was resolved that the Company be voluntarily wound up. The voluntary liquidation commenced on the 2nd day of February A. D., 2026 and Michelle Y. Campbell & Co. has been appointed as sole Liquidator.
Any creditors of the above Company are required to submit to the Voluntary Liquidator, Proof(s) of their respective debt or claim against the above-named Company by sending such Proof(s) to the Voluntary Liquidator via email:michelleycampbell1@gmail.com by no later than 4:00 p.m. on the 7th day of April 2026. Such Proof(s) should state the creditor’s name, address, particulars of debt or claim, documentation to prove debt or support claim, and any entitlement to priority.
Dated this 26th day of March, 2026
Michelle Y. Campbell Liquidator
INTERNATIONAL BUSINESS COMPANIES ACT, 2000 LEGAL NOTICE
Sister One LTD. (In Voluntary Liquidation)
NOTICE is hereby given that by a resolution passed on the 23 day of March 2026 the above-named Company was put into voluntary liquidation.
AND FURTHER TAKE NOTICE that BCS Corporate Group Ltd., Cumberland House, 15 Cumberland & Duke Streets, P.O. Box SS-6836, Nassau, Bahamas was appointed voluntary liquidator of the Company.
AND TAKE NOTICE that any creditors having debts or claims against the Company are required to send particulars to the Liquidator of the said Company and in default thereof they will be excluded from the benefit of any distribution made by the Liquidator.
Dated this 23 day of March, 2026
BCS Corporate Group Ltd. Liquidator
INTERNATIONAL BUSINESS COMPANIES ACT, 2000 LEGAL NOTICE
Kool Winds Investment Co.LTD. (In Voluntary Liquidation)
NOTICE is hereby given that by a resolution passed on the 23 day of March 2026 the above-named Company was put into voluntary liquidation.
AND FURTHER TAKE NOTICE that BCS Corporate Group Ltd., Cumberland House, 15 Cumberland & Duke Streets, P.O. Box SS-6836, Nassau, Bahamas was appointed voluntary liquidator of the Company.
AND TAKE NOTICE that any creditors having debts or claims against the Company are required to send particulars to the Liquidator of the said Company and in default thereof they will be excluded from the benefit of any distribution made by the Liquidator.
Dated this 23 day of March, 2026
BCS Corporate Group Ltd. Liquidator
“We’re building on the strong foundation established at Condo Vikings Realty, while elevating our focus and capabilities to meet the sophisticated needs of today’s luxury market,” said Gustaf Hernqvist, founder and chief executive. “Our relaunch reflects a renewed
Jolie Hernqvist, who is joining the agency as co-owner and marketing director, said: “I’m excited to help shape Jolie Luxury Homes into a brand that represents refined Bahamian living and meaningful client relationships. Our new site and expanded team allow us to showcase the best of The Bahamas while providing tailored, detail-focused service for every client.”
BMA hails latest maritime regulatory improvements
THE Bahamas Maritime Authority (BMA) says the implementation of new merchant shipping regulations, set to take effect from this Wednesday, mark a major milestone in efforts to overhaul and modernise this nation’s maritime supervisory regime.
The BMA, in a statement to mark the April 1, 2026, introduction of regulations that accompany the Merchant Shipping Act 2021, said the reforms consolidate and enhance The Bahamas’ legal regime governing shipping.
They encompass registration, fees, marine safety investigations, inspections, seafarer standards and yachts. The BMA added that the regulations are designed to reflect the needs of a modern, global shipping industry while maintaining full alignment with international conventions and best practice.
It said the central feature of the new framework is a more flexible and responsive regulatory structure, enabling the BMA to adapt more efficiently to supervisory developments and evolving industry requirements without the need for extensive legislative reform.
The regulations also introduce greater clarity and transparency for ship owners and operators. This includes, for the first time, the consolidation of fees into a single statutory instrument, alongside clearer processes across registration, inspections and certification.
As part of this update, the BMA said it has undertaken its first comprehensive review of fees in 15 years. The revised structure is designed to ensure fees remain fair, transparent and aligned with the level of service provided, while supporting continued
investment in service delivery and digital capabilities. The BMA said the updated regulations further strengthen The Bahamas’ commitment to safety and compliance, including enhanced marine safety investigation provisions aligned with International Maritime Organisation (IMO standards, as well as clearer inspection and enforcement mechanisms.
“We have taken the time to get this right, ensuring the framework not only reflects current international standards, but also positions The Bahamas’ flag to respond effectively to future developments.”
The BMA said it will support the roll-out of the new regulations through stakeholder briefings, technical updates and direct engagement with clients and partners.
Jacqueline M. Simmons, the BMA chair, said: “This is an important step forward in ensuring our regulatory framework remains fit for purpose in a rapidly-evolving industry. These updates are focused on providing greater clarity, improving efficiency and ensuring we continue to deliver a high quality, customer-focused service to our clients worldwide.
JACQUELINE SIMMONS
GUSTAF HERNQVIST AND JOLIE HERNQVIST
UoB professor says Barbados model shows Bahamas way
CHANCE - from page B1
Acknowledging that a serious national debate on the issue should have happened “years ago”, the Bahamian economist nevertheless asserted that he does not “want to look in the rear view mirror” but, instead, focus on whether a lottery is viable given his belief there is a “lot of pent-up demand out there”.
“A national lottery can go a long way in financing more of the social programmes - education, health etc,” Mr Pinder said. “That would reduce some of the pressure on the Government’s Budget to the extent to which we can fund a lot of these things by a national lottery. All of this comes from the whole premise that gaming, in and of itself, is a zero sum game in which the winner comes at the expense of the loser, and there is zero net benefit for the economy….
Mr Pinder asserted that he still “believes that there is an opportunity” and “a lot of pent-up demand” based on the amount of money earned by the web shops and the taxes they contribute to the Public Treasury. The last web shop industry data seen by Tribune Business was for 2018, which showed the sector as generating around $200m in net annual new revenues with collective profits around $50m. For the current 2025-2026 Budget year,the industry is forecast to generate $36m in taxes. Gaming is effectively a wealth redistribution from the many to the few. However, a 2018 report on the Bahamian web shop gaming industry by Oxford Economics, the consultancy that forecasts the economic impacts from multi-million dollar tourism-related projects in this nation, said the sector was set to give $7.1m to “social and philanthropic activities” that year, with previous beneficiaries of its generosity including the Bahamas AIDS Foundation and Junior Baseball League.
Mr Pinder acknowledged that it was “an excellent question” as to whether a national lottery can co-exist with the Bahamian web
“There’s a lot of pressure on government revenues to fund social programmes. Perhaps it [a national lottery] should have been a discussion some time ago. However, we are where we are. We cannot spend a lot of time looking in the rear view mirror. What’s more important is how we move forward from this point, and I do believe it’s an issue that requires serious consideration going forward to address social concerns.”
- from page B1
“As a matter of fact, all the world’s markets are open to The Bahamas for trade purposes. If there are any kind of prohibitions on imports or trade matters, those would be coming from another ministry, the Ministry of Economic Affairs.”
The Bahamas is far from alone in being probed by the US Trade Representative’s Office in an investigation which, while launched more than two weeks ago on March 12, appears to be a thinly-veiled attempt to crack down on the volume of Chinese goods imported by some of Washington D.C’s major trading partners. Canada, Australia, the UK, the European Union (EU), Israel, New Zealand, Saudi Arabia, the United Arab Emirates and Singapore are also among the 60 states being investigated.
China has long faced accusations that is subjects ethnic minorities, particularly the Uighurs in Xinjiang province, as well as political prisoners and dissidents to forced or slave labour where they are forced to manufacture goods against their will and for no compensation. The Chinese embassy in Canada last week denied that forced labour is used in the production of Chinese electric vehicle components - the very same vehicles that are becoming increasingly popular in The Bahamas.
Mr Munroe, though, pointed to the great challenge in verifying and obtaining evidence that particular goods are being
manufactured using forced labour especially given the complexities involved in investigating overseas-based supply chains.
Acknowledging long-standing allegations that certain countries, and goods, employ forced labour, the Bahamas Customs chief said: “It’s almost impossible if you ask me. We have no evidence other than what is reported.”
Emphasising that Customs is responsible for enforcement, Mr Munroe signalled that any forced labour-related intervention would have to come from the Government via laws passed by Parliament as well as accompanying policies and regulations. “I can only speak to this issue as a lay person, not as Customs comptroller,” he told Tribune Business. “It speaks to one’s moral underpinning.
“It will be one that the Government will have to consider, but as Customs comptroller the only thing I can do is enforce whatever policy the Government of The Bahamas has with respect to this matter. There are none that I am aware of.
“Let’s be honest. In most democracies, a democratic country, the democracies around the world, we look at things from the perspective of human rights. Clearly, a country like The Bahamas no way wants to condone that type of activity or engage in trade that facilitates that type of activity,” Mr Munroe added.
“I’m sure all countries around the world, especially democratic states, would bring that practice to an end if they find it and in no way would engage in trade
shop gaming industry, given that both might be competing for the same pool of player funds, but said: “A lot of the services and games they provide can, I am sure, co-exist with a national lottery. I do believe they can co-exist.”
And, while a Bahamian national lottery might have “a relatively small domestic market”, he added that it could be opened to citizens living abroad, expatriate residents and work permit holders, tourists in-country and even foreigners. The Barbados national lottery, which has been in existence for more than a decade, is itself open to tourist participation.
That lottery, operated by IGT Global Services on behalf of its four licence holders, the Barbados Cricket Association, the Barbados Olympic Association, the Barbados Turf Club and the National Sports Council, generated some $7.1m in 2020 for the benefit of so-called “good causes” and social needs.
Mr Pinder said that, given its comparable size, Barbados is a good indicator of what a Bahamian national lottery may generate if operated correctly.
“Everything is based on scale,” he added. “We are not talking about a national lottery where the winning
in anything that is made through forced labour. It’s not a personal decision. You cannot impose a personal decision in these matters. Whatever the state decides, we enforce.”
The US Trade Representative’s Office, in a statement announcing the investigation of The Bahamas and others, said it was seeking to determine whether the absence of, or failure to enforce, prohibitions on the importation of goods made with forced labour is placing rival US products at a competitive disadvantage.
“The investigations will determine whether acts, policies and practices of each of these economies related to the failure to impose and effectively enforce a ban on the importation of goods produced with forced labour are unreasonable or discriminatory, and burden or restrict US commerce,” it added, describing the countries targeted as being “60 of the largest trading partners of the US”.
Jamieson Greer, the US trade ambassador, said: “Despite the international consensus against forced labour, governments have failed to impose and effectively enforce measures banning goods produced with forced labour from entering their markets.
“For too long, American workers and firms have been forced to compete against foreign producers who may have an artificial cost advantage gained from the scourge of forced labour. These investigations will determine whether foreign governments have taken sufficient steps to prohibit the importation of goods produced with forced labour, and how the failure to eradicate these abhorrent practices impacts US workers and businesses.”
payout is $100m or even $10m. If you look at a country like Barbados, which is comparable to The Bahamas, they have a national lottery and have been quite successful over the years. There is hope. All the appropriate safeguards can be put in place to ensure the overall integrity of the system.
“When you look at the number of persons considered to be under the poverty line, it’s a huge number. And when you look at the number of persons below the poverty line, you must also consider the number of persons who are ‘working poor’ - who work and are challenged to meet basic commitments due to inflationary pressures, which means increasing pressure on state resources and there’s limited headroom to turn to taxes.
“All of this suggests to me there should be a broadly inclusive discussion of a national lottery,” Mr Pinder said. “I do see value in that discussion at a critical time. To the extent to which a lot of those [gaming] resources are being diverted to private hands, a lot should also be diverted to the state to help with social programmes.”
While the UK national lottery may not be the best
example for The Bahamas, given the difference in scale, since its introduction in 1994 it has raised £53bn for good causes with more than 680,000 awards made. For the year to end-March 2025, some 40 percent of UK lottery funding went to health, education, the environment and charitable causes, with the remainder equally divided between sport, the arts and heritage, which received 20 percent each.
Mr Pinder argued that, in the Bahamian context, more funding must be made available for “the expansion of education opportunities”, especially technical, pre-school and tertiary education, plus healthcare, social welfare programmes and Family Island infrastructure.
And a national lottery may also generate income-earning opportunities for Bahamian merchants via commissions from selling ‘numbers’ and tickets to participants. UK retailers, for example, have
earned a collective £8bn in 32 years by selling national lottery tickets in their stores.
Mr Pinder, while estimating that a Bahamian national lottery could provide “millions” annually for social and good causes, told Tribune Business he wanted to focus on “the wider point” that “there’s a need for a public discussion on the merits” of such a initiative.
“The other details on who, what, why, how much money will be generated, while that’s important to the discussion, it’s important that people think of this in a social context and, the more we talk about this, the politicians will begrudgingly have to put emphasis on this,” he added.
“If the discussion focuses on the web shops, and how much money they are taking out of the economy, I don’t know how far this discussion will go. They are already here. We’ve already given birth to that baby.”
NOTICE
The Public Worker’s Co-operative Credit Union Limited announces that its 46th Annual General Meeting will be held on Friday, May 29th, 2026, at the National Training Agency beginning at 5 pm.
Applications are invited from members in good standing who may wish to run for the following vacant positions: Board of Directors (2 vacancies); Supervisory Committee (1 vacancy) and Credit Committee (1 vacancy).
Nominations forms are available at our Nassau and Freeport offices or by emailing sthompson@pwccul.com & edavis@pwccul.com
Completed Nomination forms, along with a cover letter and resume must be submitted by 5 pm on Friday, May 1st, 2026, either by delivering to any of our offices or via the emails listed.
No nominations will be allowed from the floor.
Ex-finance chief: Bahamasair undermined me finding new job
Mr Cooper, in a messaged response to Tribune Business inquiries, signalled that both himself and Bahamasair are aware of Ms Pinder’s allegations but he declined to comment on the basis that the dispute is now before the Supreme Court.
“Thank you for your inquiry,” he messaged.
“The matter you have referenced is currently before the courts and is therefore sub judice. As such, neither Bahamasair nor I are in a position to comment at this time.” Documents seen by this newspaper show that Ms Bethell’s complaint was
served on Ferron Bethell KC, the Harry B. Sands, Lobosky & Company attorney and partner, on March 20, 2026. The airline is now likely to be determining its response, and drawing up its defence.
Ms Pinder, in her standard claim form, said she was first hired by Bahamasair as deputy chief financial officer before serving as acting chief financial officer. Besides having primary oversight for the national flag carrier’s financial reporting, she was also responsible for its internal financial controls, regulatory compliance, reporting to the Board of Directors and “safeguarding the financial integrity of the airline”.
“During the course of her employment, the claimant identified significant financial governance concerns within the operations of the first defendant [Bahamasair],” Ms Pinder’s statement of claim alleged. “These included
NOTICE
NOTICE is hereby given that KENSLEY JEAN of Cowpen Road, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that MAX-OCNALD TOUSSAINT of Cowpen Road, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that I RODENCIA CORNEILLE of Hope Town, Abaco, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I ERMIDE PASCAL of Francis Avenue, Fox Hill Road, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 20th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I PHILLIP EDWARD JOHNSON of FH 14-158 Fox Hill Road, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
weaknesses in internal control structures, deficiencies in approval processes and failures in financial governance procedures.
“Internal corporate documentation revealed structural weaknesses in banking signatory arrangements, which created the possibility of collusion and financial misappropriation. Internal reports also revealed substantial supplemental salary allowances paid to staff totalling approximately $1.997m annually.
“The claimant raised concerns regarding these matters in the course of performing her professional responsibilities. The claimant will contend that the concerns raised by her were legitimate matters relating to financial governance and internal controls within” Bahamasair, and they raised issues “related to matters of financial accountability within a publicly-funded corporation”.
Given that Bahamasair is a loss-making state-owned enterprise (SOE), which is forecast to require a $25m subsidy for the 2025-2026 fiscal year to enable it to cover its bills and remain operational, the nature of
Ms Pinder’s allegations - if correct - means that the additional costs these governance deficiencies create will ultimately have to be paid for by both passengers and the Bahamian taxpayer.
The former acting chief financial officer, though, alleged that Bahamasair, rather than addressing the weaknesses identified when she sounded the alarm, instead sought to “undermine and marginalise” her by excluding her from executive meetings and management discussions.
Ms Pinder is also alleging she was “removed from communications with government ministries”, her “responsibilities for financial oversight were substantially reduced”, and her authority undermined.
And, despite Mr Cooper informing Ms Pinder that other Bahamasair staff had made complaints about her, she was never presented with “particulars of any alleged misconduct” or summoned to a disciplinary hearing. She branded the complaints “as “baseless”, and a “pretext” for force justify her termination at the April 13, 2023, meeting with senior management.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The public is hereby advised that I, VIKRAM of Unit-2, House #18 Buen Retiro, Nassau, Bahamas intend to change my name to VIKRAM CHADEL If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.
NOTICE
NOTICE is hereby given that CLAUDENA PETITBOSE of Minnie Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that I GINGER BORDON CORDERO of Sir Lynden Pindling Estates #23, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I JEAN RENAUD LEGISTE of Peach Street, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 23rd day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that I LORVINS DORSEMA of Carmicheal Road West, Nassau, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
“The claimant will further contend that her termination was not motivated by performance or misconduct but was instead a retaliatory act intended to silence internal reporting of governance failures within [Bahamasair],” her legal claim alleged, asserting that she was fired “in order to suppress scrutiny of financial governance” at the airline.
“The claimant will further contend that the actions of the defendants were arbitrary, oppressive and undertaken in abuse of public power within a stateowned enterprise, and were contrary to the principles of fairness, transparency and accountability which govern public bodies in The Bahamas….
“The claimant will contend that her removal from the first defendant formed part of a deliberate effort to remove a senior financial officer who had raised concerns regarding internal financial governance within the organisation.”
Ms Pinder is also alleging that her termination did not follow the correct internal process, as the dismissal of senior executives required approval from Bahamasair’s
Board of Directors via a resolution, which did not occur. She also claims that the “summary dismissal” breached her employment contract because she was not given reasonable notice or payment in lieu of notice, while no disciplinary process took place and she had no chance to respond to the alleged complaints against her.
“Following the termination of the claimant, the defendants engaged in conduct that further damaged the claimant,” Ms Pinder alleged. “The defendants delayed providing documentation required for unemployment benefits. The claimant’s medical coverage was cancelled shortly after termination.
“The defendants provided negative and misleading references concerning the claimant to prospective employers. As a result of the said statements, the claimant was unable to secure employment despite numerous applications within her field.” As a result,
Ms Pinder is also claiming for “substantial loss of future earning capacity”.
PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL
The public is hereby advised that I, JULIE FREDRIKA HINSEY-PINDER of Vista Marina Subdivision #1138, Nassau, The Bahamas intend to change my name to JULLIE FREDRIKA HINSEYPINDER If there are any objections to challenge the name by deed poll, you may write such objections to the Chief Passport Officer, P.O. Box N-742, Nassau, The Bahamas no later than thirty (30) days after the date of the publication of this notice.
NOTICE
NOTICE is hereby given that JEAN GILLES SOLEIL of Rupert Dean Lane, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that I ITELLIO ESTIMA of Mackey Street, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that JUSTIN DARIUS of Marsh Harbour, Abaco, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 23rd day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.
NOTICE
NOTICE is hereby given that I CHRISTIAN AMBROISE of Rupert Dane Lane, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
URCA slashes renewable fees power provider planned to levy
given that this was equal to just one-ninth of the roughly $0.45 per KWh all in-cost it charges businesses and residents.
Based on the $0.33 per KWH cited by St George’s as the 2025 “levelised” cost of diesel fuel, URCA’s decision means those customers feeding excess energy back to the grid via their solar systems will enjoy compensation more than six times’ greater than that initially offered by the community’s utility-scale energy provider.
“URCA agrees with the respondents that St George’s proposed compensation rate is too low.
URCA considers BPL’s (Bahamas Power & Light) method of using the monthly prevailing fuel charge rate to be an appropriate benchmark and will require St George’s to use the same method,” the electricity sector regulator determined.
“As such, URCA determines that the amount of compensation for persons exporting power to St George’s grid must be equal to the monthly prevailing fuel charge rate. URCA will amend Section 7.11 of St George’s renewable energy plan to reflect the URCA-approved compensation rate.”
The initial $0.05 per KWH offered by St George’s sparked an outcry
both individually and collectively from Spanish Wells and Russell Island. URCA, in its statement of results, wrote: “The community considers the proposed pay back for grid-tied customers that choose to export power back to the grid is insufficient, noting that St George’s would purchase power from exporters at $0.05 per KWh while charging customers approximately $0.45 per KWh.
“The community asserts that this lopsided fee structure discourages customers from exporting while, at the same time, being subjected to poorly regulated frequency (St George’s grid frequency typically runs faster than 60 Hz) and potential for power surgeslightning strikes on the grid.
“The community also finds it discouraging that the proposed sell-back does not carry over from one billing period to the next, failing to account for the customer’s investment, maintenance and depreciation over time,” URCA added.
“The community further notes that St George’s wants to impose a network fee ‘not to exceed $2,000’ but the community opines that the export pay back fee would require a customer to provide St George’s with 40,000 KWh of export power just to recoup the network connection fee. This ignores the time value of money.”
Individual residents were just as strong in their views. One, identified only by his initials, ‘LJ’, in their feedback, said: “Regarding compensation for exported power, LJ claims that while many residents do not wish to sell back to the grid, those who do wish to export also use anti-islanding inverters that shut down automatically, thereby eliminating any safety concerns.
“LJ considers St George’s proposed compensation rate of $0.05 cent per unit to be unfair and should be on par with the retail rate or fuel savings since the solar output is of equal quality as what is offered by St George’s.”
Others were just as vocal.
“DH disagrees that the compensation is reasonable, stating that the pay rate of $0.05 per KWh is too low and only one-tenth of the real cost. In DH’s view, there is no benefit in exporting power in the absence of rollover credits. DH also considers the $2,000 network fee as to high, and owners of private solar systems would not be able to recoup their investment with the proposed fee amounts,” URCA recorded.
“JJ stated that at $0.436 pre-VAT, or $0.4796 VAT inclusive per KWh, a $0.05 per KWh compensation is absurd and only 11.5 percent of the pre-VAT rate. JJ stated that based on St George’s LCOE (levelised cost of electricity) estimates, St George’s will compensate at the rate which they can produce their own solar energy, but JJ considers it unlikely that St George’s
can produce solar energy at $0.05 per KWh considering the cost of solar photovoltaic and its loan interest.
“As such, JJ recommended that the compensation rate be re-evaluated by an independent third party because the proposed rates are speculative and in St George’s best financial interest. Like other respondents, JJ favours rollover credits to make exporting feasible for those with private systems, and that the proposed $2,000 network fee is not feasible. For illustrative purposes, if one imports 100 KWh from the grid, it will take the export of 872 KWh to negate the incurred cost or a monetary payment of $43.60.”
Another resident, ‘BH’, added that since St George’s planned to generate 30 percent of its generation mix from its own utility-scale solar plant, it would be using the energy sold back to the grid to reduce fuel costs associated with producing the remaining 70 percent balance. This, they suggested, represented a “significant advantage” for St George’s while offering “little to no advantage to exporting customers”. Having resolved this issue in the residents’ favour, URCA then handed them another success by mandating that St George’s either eliminate or substantially reduce most of the renewable energy-related fees and application charges that it planned to levy on customers. In particular, the regulator has ordered it to eliminate the fees it
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intended to impose on “off-grid” customers who do “fall under St George’s remit” as they are not interconnected to its electricity supply network.
“According to the community, St George’s renewable energy plan is presented as a plan to increase renewable energy to achieve The Bahamas’s renewable energy goals,” URCA recorded. “However, the renewable energy plan instead proposes to regulate and tax individuals who have installed or intend to install renewable energy.
“The community advocates for St George’s to be evaluated against the requirements in the Electricity Act, adding that the proposed renewable energy plan has no regulatory requirements or penalties if St George’s fails to meet the 30 percent renewable energy goal projected by 2027. The community also mentioned that St George’s stated similar goals previously which they did not meet.”
Individual residents voiced similar concerns.
‘JH’ said: “One-time fees are quite high and should be broken down further into grid-tied, hybrid with export, and hybrid without export with each having a separate price point.
“The breakdown for reapplication fees needs to be addressed as it is not contained in this renewable energy plan. Only the overall cost (55 percent of first cost) of a reapplication is provided. Off-grid should be unequivocally removed from all fees as committed by St George’s and its representatives at the public meeting.”
And ‘MP’ argued that “the renewable energy plan should be a tool to uplift the community, not a burden that weighs residents down…. According to MP, the proposed renewable energy plan is not fair as it mixes up systems, charges too much and gives St George’s powers which it should not have. However, MP believes that the plan can be fixed by revising the
definitions, applying fair fees and respecting people’s rights to have a plan that uplifts the community and honours what is right”.
Elsewhere, ‘DA’ “stated that a $235 labour fee for the installation of a bi-directional meter, which takes approximately five minutes, is unreasonable, adding that this would equate to $2,820 per hour”. Others branded St George’s proposed renewable-related fees as “astronomical and unreasonable”.
“URCA notes the consensus from the respondents that St George’s proposed fees are excessive and, in some cases, unnecessary,” the regulator concluded. “To address the respondents’ concerns, URCA used the renewable energy fees charged by BPL as a benchmark and amended St George’s fees accordingly.
“When adjusting the fees, URCA considered that St George’s is a smaller entity than BPL with a different cost structure. Therefore, the URCA-revised St George’s fees are slightly higher than those charged by BPL but still considerably less than the fees originally proposed by St George’s.
“URCA also confirms that St George’s should not charge fees for an offgrid system. Therefore, URCA will remove offgrid fees from St George’s fee structure. URCA has also streamlined the fee structure and combined the review of documents, assessment and administrative processing into a single item with one application fee.”
As an example, URCA has slashed St George’s proposed labour fee for a bi-directional meter installation from $235 to $50. And the fee for the power provider to review documents associated with solar photovoltaic (PV) systems with and without battery energy storage has been slashed from $395 and $790, respectively, to a $150 application fee. Fees as high as 665 have also been eliminated for field services assessments.
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