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Friday, August 28, 2026
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Cabbage Beach fence will come down, says Ministry of Tourism BY ANNELIA NIXON TRIBUNE BUSINESS REPORTER anixon@tribunemedia.net A CONTROVERSIAL fence erected at Cabbage Beach for a private development is to be removed following government intervention, with vendors and watersports operators fearing the construction could threaten their livelihoods and restrict access to the popular beach. The Ministry of Tourism said it was “deeply regrettable” that the developers proceeded with the erection of the fence despite being asked to engage further with the government before beginning the work. It said an initial meeting had been held with the developers, during which their plans for the area were outlined. The parties
Vendors fear economic displacement at beach
subsequently agreed that ministry representatives and the developers would conduct a site walk-through to examine the proposed works and better understand their potential impact on vendors. However, that site visit never took place. The ministry said that when it was later informed that work was set to begin, the developers were again asked to meet before proceeding so there could be a clear understanding of how the work would be carried out and how affected vendors would be accommodated. “Regrettably, the fence was erected before that further
engagement occurred,” the ministry said. The Ministry of Tourism has now been advised, following intervention by the Department of Environmental Planning and Protection (DEPP), that the fence will be removed. The removal will allow discussions between the developers, the Ministry of Tourism, DEPP and affected vendors to continue on an appropriate way forward, including how vendors can be accommodated while addressing DEPP’s concerns about protecting the area from beach erosion. The development had sparked concern among
vendors and jet ski operators who said the fence appeared to be extending into areas where they conduct business and could ultimately reach the entrance used by tourists, including cruise passengers. They were also concerned that they would be forced to operate much closer to the shoreline, where some vendors said they could not safely conduct their businesses. Freetown MP Lincoln Deal intervened after receiving complaints from vendors in his constituency and said fencing work had been paused following his contact with the
The FRC said this suggests a $119.5m reduction in debt, but the medium-term fiscal and debt outlook contained in the FSR projects a larger $289.8m reduction by the end of FY2026/27. "The FRC is of the view that a revision of the debt projections in the medium-term fiscal outlook is necessary," the council said. The council also raised concerns about the absence of a medium-term financing forecast in the Fiscal Strategy Report itself. It noted that the FSR does not provide a medium-term debt financing outlook, despite the Draft Estimates containing borrowing and repayment projections.
The FRC said the absence of financing forecasts represented non-compliance with the Public Finance Management Act's requirement for the Fiscal Strategy Report to include "a summary of the sources of budget financing." It said disclosure of projected medium-term financing is "a core feature that aligns with the principle of fiscal transparency." The discrepancy comes as the Government targets a substantial reduction in its debt burden over the medium term. The Fiscal Strategy Report projects Central Government debt declining from
TAXI operators who depend heavily on Cabbage Beach for cruise ship passenger business say the closure of access to the popular Paradise Island beach could deliver a significant blow to their livelihoods, with some estimating they could lose as much as 70 percent of their business. The concerns come as taxi drivers say Cabbage Beach remains one of the most requested destinations among cruise ship passengers, many of whom have limited time on the island and prefer the beach because of its proximity to the cruise port. Keith Smith, a taxi driver, said the loss of easy access to Cabbage Beach would make it increasingly difficult for drivers to provide beach excursions to cruise passengers. He said other beach access points on Paradise Island have also been closed, leaving taxi operators with fewer options when passengers request a nearby beach. “A lot of us taking them to Cable Beach now, which is further out,” Mr Smith said. “Sometimes tourists, they be on the beach having a good time, pineapples and stuff. When they check the time, they run down off the beach and say, ‘We got to leave now. The boat is going to leave.’ It’s real tough. It’s real hard.”
FISCAL - See Page B5
ACCESS - See Page B2
FRC flags mismatch in Govt’s debt forecast BY FAY SIMMONS TRIBUBE BUSINESS REPORTER jsimmons@tribunemedia.net THE FISCAL Responsibility Council has flagged a mismatch between the Government's debt forecasts and its actual borrowing and repayment plans, raising questions about how quickly public debt can be reduced over the medium term. The FRC found that the Government's financing figures imply a net reduction in
liabilities of $119.5m during FY2026/27, while its medium-term fiscal and debt outlook projects a $289.8m reduction in Central Government debt over the same period. The figures are contained in the Fiscal Strategy Report FRC assessment. Draft Estimates of Revenue and Expenditure provide for $934.5m in borrowing during FY2026/27 against $1.054bn in debt repayments, resulting in net incurrence of liabilities of negative $119.5m.
Govt warned ‘shortterm liquidity support’ is now longer term debt BY FAY SIMMONS TRIBUNE BUSINESS REPORTER jsimmons@tribunemedia.net GOVERNMENT loans to Bahamas Power & Light accounted for $241.5m of the $631.4m owed by public entities at end-March, as the Fiscal Responsibility Council warned that some supposedly short-term liquidity support has effectively become longer-term debt. The FRC, in the recent Fiscal Strategy Report warned that while the Government's Public
Expenditure and Fiscal Unit does not identify loans to public entities as a source of fiscal risk, defaults — including in the short term — could affect the Government's fiscal position. The council highlighted the Government's need to frontload Central Government borrowing to meet operational obligations during the first six months of any given financial year, noting this made the continued lending to public entities a potential budgetary concern.
EXPOSURE - See Page B5
Securities Commission imposes $221.7m penalties over two years BY FAY SIMMONS TRIBUNE BUSINESS REPORTERS jsimmons@tribunemedia.net THE SECURITIES Commission of The Bahamas has imposed more than $221.7m in administrative penalties over the past two years as it shifts from a predominantly remediation-led approach to a more aggressive financial enforcement regime, while reporting a sharp decline in AML/CFT/ CPF deficiencies found during examinations. The Commission’s AML/ CFT/CPF Activity Report for 2021–2025 said it
concluded 68 administrative penalties in 2024 and 2025, including 43 in 2024 and 25 in 2025, after imposing no administrative penalties during the first three years of the review period. Penalties imposed totalled $221.57m in 2024 and $142,650 in 2025, with the vast majority of the 2024 figure tied to a single $221.1m settlement involving the joint official liquidators of FTX. The Commission said the move to administrative penalties represented a deliberate progression from
PENALTIES - See Page B4
Govt intervention forces fence removal
Closing public access to Cabbage Beach would be major blow, say taxi drivers
Developers halted after government intervention
FENCING - See Page B2
Cabbage Beach access threatens livelihoods Drivers estimate losses of up to 70 percent BY ANNELIA NIXON TRIBUNE BUSINESS REPORTER anixon@tribunemedia.net