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Wednesday, OctOber 29, 2025
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Bahamas‘regressed inthepast10years’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas “has regressed over the last ten years” due to the National Development Plan (NDP) being “shelved”, its vice-chairman asserted yesterday, resulting in the country “standing still” while other nations progress. Gowon Bowe, vice-chairman of the newly-appointed steering committee charged with the Plan’s implementation, told Tribune Business that its reformation is “only the first step on a long journey” to revive an initiative largely neglected during the nine years since the ‘State of the Nation’ report was produced in 2016 under the last Christie administration. Suggesting that successive administrations and “all political parties are responsible” for that outcome, he warned that the international community will not wait for The Bahamas to catch up and prove it has a development strategy not solely reliant on its US proximity and “the belief that we’re being looked after by the Almighty”. The Plan was designed to create an enduring, non-partisan road map or guide for The Bahamas’ short, medium
• Nation ‘stood still’ as Development Plan ‘shelved’ • Political parties ‘shied away’ over accountability • Committee revival ‘first step on a long journey’ and long-term economic and social development, while setting out a series of benchmarks and milestones - together with associated timelines for their attainment - to measure progress. To move it forward, Mr Bowe told this newspaper “there’s going to have to be maturity by the political class” to treat it as a national, rather than partisan, development tool. And he suggested that, to-date, the major political parties have deliberately “shied away” from implementing the Plan for fear it would hold them “accountable” for their achievements and failings while in office. “What has been re-engaged is only the first step of a long journey,” the Fidelity Bank (Bahamas) chief said of the revived steering committee, which held its first meeting
on Friday, October 3. “Some may take a bit of offence to me saying this, but the country has regressed over the last ten years as a result of the shelving of this particular plan. “By that I mean there have been external factors like COVID-19, Hurricane Dorian, a haphazard US economy and the like, but the reality is we have not progressed [in the absence] of the National Development Plan.” As an example, he cited the “severely challenged” Bahamian public healthcare system, and the fact it seems “not much further ahead in bricks and mortar”, but also access to and quality of medical care, than it was in 2016 when the ‘State of the Nation’ report was released. “In education, have we seen any progress in exam results and competencies coming out of high school? The answer is
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CABLE BAHAMAS HEADQUARTERS
Cablechief:‘We like where we are’despitenet lossdoubling By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
no,” Mr Bowe added. “If you look at our social challenges they have actually worsened in terms of the proliferation of gang culture and, in terms of socio-economic aspects, if it’s more profitable to live a life of crime than live as a law-abiding citizen, then that’s the natural draw. “When we look at our economy, do we have a clear idea of the extent of our progress economically. Our two main industries are tourism and financial services. Has there been any clear strategy for tourism and financial services?
CABLE Bahamas’ top executive says “we like where we are” despite the net loss for the year to end-June 2025 doubling to $6.746m as 50 percent of New Providence subscribers have now been switched to its new AlivFibr network. Franklyn Butler, the BISX-listed communications provider’s president and chief executive, told Tribune Business in a recent interview that despite closing the 2025 financial year “slightly behind plan” the company had made significant progress in completing the 100 percent roll-out of its new fibre-tothe-home infrastructure throughout New Providence. With the Cable Bahamas group now aiming to finish the AlivFibr build-out in Abaco this year, he also cited Aliv’s “50 percent and growing market share”, with operating income margins “in line” with global mobile industry standards, as further evidence that the operator is on sound foundations despite its net loss jumping from the
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GOWON BOWE
Dealer chief: DoctorsHospitaltakes$18m NewCarShow unpaidmedicalbillprovision proved‘spoton’ By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BAHAMIAN auto dealer yesterday said the 2025 New Car Show proved “spot on” in terms of industry expectations and seemingly attracted “a higher volume” of visitors interested in purchasing as opposed BEN ALBURY to just viewing models. Ben Albury, the Bahamas Motor Dealers Association’s (BMDA) president, told Tribune Business that he and his competitors will “have a better idea in a month” of how successful the annual event has been in generating new business as it provided a platform for the industry to showcase all of what it offers in just one venue. “I would say we had an excellent turnout,” he said. “One thing I noticed in speaking to some of the other dealers is that it seemed like we had a high volume of buyers. Sometimes when you have an event like this you end up with a high ratio of people that are just looking around. “I shouldn’t say that’s typical, but when you’ve been in this business a long time as I have, when you go to these things you can kind of gauge the interest. It seemed like a lot of people, when they cam through, were prepared, were pre-approved [for financing], had a good idea of what they were looking for, and got a number of quotes. I’ve already seen one or two of those come through at this point and stage.” The Bahamas Bus & Truck general manager told this newspaper that “it takes a while” for New Car Show interest to evolve into actual vehicle purchases as potential buyers often have to be approved for financing by banks and other lenders. “I’ve seen times in the past where people came out and looked and, six months later, they come into the shop and say they were not in the market at the time, circumstances have changed, I remember this and want to look at the options and alternatives,” he added. “I’ve seen shows where you sell 50 cars and I’ve seen shows where you sell 10-20. “It’s not the instant gratification; it’s the trickle down effect down the road. Sometimes it takes a month to get the financing in AUTO - See Page B2
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
DOCTORS Hospital has taken impairment provisions for almost 31 percent of the $58m in unpaid medical bills owed to it by individual patients and third-party payers such as insurance companies and the Government. The BISX-listed healthcare provider, in unveiling a $905,603 total comprehensive loss for the year to end-January 2025, also disclosed in its financial statements that provisions for expected credit losses - meaning medical bill arrears it expects to not collect - have increased by more than $5m or 41.9 percent year-over-year to just shy of $18m. Of the $58m gross trade receivables due to Doctors Hospital, some $7.454m was owed by the Government at the January 31, 2025, year-end date. The latter figure, though, represented a more than $4.2m
or 36.3 percent decrease compared to the $11.704m that was due from the Government at the close of the healthcare provider’s 2024 financial year. Dennis Deveaux, Doctors Hospital’s chief financial officer, could not be reached for comment by Tribune Business via phone or message before press time last night, but the impairment provisions cut Doctors Hospital’s net trade receivables to just over $40m and represented a $2m decline on the prior year’s $42.041m. Describing trade receivables as comprising sums owed by self-pay patients; patients who have received a settlement from their insurance companies; sums due directly from insurers; and from the Government, Doctors Hospital’s audited financial statements said: “Based on the modelling prepared by management, the expected credit losses on patient and third- party receivables as at January 31, 2025 is $17.967.”
Worksstaffhitoutovertools shortage,unpaidvendorbills Fay SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net MINISTRY of Works employees yesterday complained they are struggling to perform their duties due to a lack of essential tools and unpaid vendor bills that have left them frustrated and over-extended. Senior Superintendent Angelo Rolle raised concerns during a protest at the Ministry of Works headquarters on JFK Drive, saying the garage section has faced difficulties receiving equipment from vendors because outstanding bills remain unpaid. “We find out when we go to get a quote, they say we can't even give you a quote because you all didn't pay your bill yet. So the bill is not paid. We can't even get a quote, so we come back. All we do is sit down and wait,” said Mr Rolle.
He added that the ministry has repeatedly failed to provide the tools staff need to complete their work, leaving employees frustrated and forced to rely on their own resources. “For the fact of us having tools, the Ministry don't supply the tools that we need. Over and over we’ll write up list over list, and they don't send the adequate tools that we need. So we have to use our personal tools,” said Mr Rolle. He added that the the financial strain of purchasing these tools has been compounded by the delay in the Government implementing a salary increase for line staff civil servants, which has made it difficult for employees to cover these costs out of pocket. “Its $300 for a tool. So if that tool is broke, then you got to come up with a drill and then now, remember what you getting paid now. They're refusing to give you PROTEST - See Page B3
DOCTORS HOSPITAL This compared to $12.664m in 2024, and the healthcare provider added that the debts owed by the Government are viewed as low-risk in terms of its prospects for collection. “The group considers that any receivable balance that is more than 90 days past due is impaired,” Doctors Hospital added. “Included in the trade receivables – third party payors are the amounts due from the Government of The Bahamas totalling $7.454m (2024: $11.705m), on which the group measures impairment losses using the general approach. ARREARS - See Page B2