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MONDAY, AUGUST 15, 2022
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Jibrilu: Bahamas ‘top of the rebound curve’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE incoming CEO of the Nassau/Paradise Island Promotion Board says The Bahamas is at the “top of the rebound curve” in terms of tourism led growth. Joy Jibrilu, told Tribune Business she is excited to take up her new role at the Nassau/Paradise Island Promotion Board (NPIPB) after having spent a considerable portion of her career as a public servant, working with tourism and tourism related projects. “Picking up the mantle, where Fred (Lounsberry) would have left off is just a tremendous feeling and I’m really looking forward to it,” she said. Ms Jibrilu worked as the director of investments from 2008 to 2014 before taking up the role of director general in the ministry of tourism (MOT) where she served until early this year. She said: “At the Ministry of Tourism, a big part of what they did was marketing the destination. So I look
JOY JIBRILU at this as a pyramid and at the top of that pyramid you have the MOT whose job it is to promote the destination and building that awareness.” This is what she feels makes her a suitable candidate to replace Mr Lounsberry as she has all of the background and experience to build on the post-pandemic tourism momentum the country is experiencing now.
Bahamas tourism is surging back with a vengeance, with the first five months of this year’s tourism arrivals standing at 2.43m visitors, which means on average the country could get close to 6m tourists by year end. Ms Jibrilu understands this and her experience in working with the NPIPB prior to assuming the top role gives her the added advantage to take hold of this momentum and steer it to even higher heights. “The next level of that pyramid, just as important, is the need now to bring the spotlight to our resorts, our hotels, and to be able to focus just on that. That’s a gift and that’s what has me excited to do what I really love doing, what I’m passionate about doing and to add to everything that has already been started.” Ms Jibrilu added: “One of the things I bring to the table in my new role is that I was a huge part of the strategy that went into place looking to us rebounding and all of the forecasts showed that The Bahamas was going to be at the top of that rebound curve. All the indicators were in
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Exuma eco-resort strives to overcome supply delays
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Relaxed lending rules for domestic credit THE Central Bank of The Bahamas is relaxing the guidelines for domestic banks and credit unions around the qualification criteria for provision of credit to the private sector. This takes account of the domestic economy’s increased capacity to sustainably absorb more credit expansion, given the potential for credit growth to stimulate greater imports and increase the net use of foreign exchange. The favourable outlook for the external reserves is
expected to be maintained. In particular, impact on credit growth, is expected to be very moderate, given continued risks around the elevated average delinquency rate for private sector credit. Effective immediately, lending institutions may, on a case-by-case basis, approve applications for new personal loans, subject to the total debt service ratio for the facility and any pre-existing obligations
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‘Eleuthera in desperate need for major fixes’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net AN Eleuthera businessman says there are “a lot of concerns” on the island and keeping the electricity on is chief among them. Christopher Cates, the Lumber Shed’s owner, told Tribune Business that last week’s utilities collapse on the island, which saw both electricity and water
supplies disconnected for more than three days, he hopes the island can not only get back on track, but stay there. Mr Cates said: “We have a lot of concerns. We have a lot of issues and the entire country of The Bahamas has issues. So I’m hoping that the new administration will knock them out one at a time. There’s a lot of work to be done. And our
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By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A $100M eco-resort in Exuma is set to start construction in October once their Environmental Impact Assessment (EIA) is approved. Victor Barrett, chief executive officer of Silent Resorts, the company behind Club Ki’ama Bahamas in Exuma, told Tribune Business that the EIA is the final step before they can actually start constructing the first two residences on the site. “We’re building three of the four bedroom residences and the beach club and all of that is actually starting some
Hurricane season is here. VICTOR BARRETT
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component fabrication and engineering in the factory in Belize. “So we hope that as soon as we get our approvals, we’ll be able to put the pier foundations in, which will be the start the work.
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‘Liveable wage will just have to wait’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE business community is waiting on the government to ratify their recommendations on the minimum wage and says that discussions on a liveable wage cannot be had until the minimum wage is “out of the way”. Peter Goudie, who heads the Bahamas Chamber of Commerce and Employers Confederation’s labour division and is its representative on the National Tripartite Council, told
PETER GOUDIE Tribune Business the council’s recommendations have been in to the
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