AGP Executive Report

Education Policy: Deputy Prime Minister I. Chester Cooper will deliver the 2026 National Back-to-School Address tonight at 8:00 p.m., outlining progress and priorities across literacy, exams, teacher recruitment, special education, classroom technology, wellbeing and pathways to success. Energy & Infrastructure: Prime Minister Philip Davis and Energy Minister Jobeth Coleby-Davis toured Abaco’s planned hybrid solar–LNG power plant, with battery storage aimed at easing frequent blackouts affecting businesses and Family Islands. Finance & Regulation: The Central Bank issued a public notice warning against fraudulent financial institutions, while the Securities Commission imposed $221.7m in penalties over two years and continues action against unlicensed lenders. Labour & Wages: The Bahamas Tripartite Council is pushing for a dedicated wage-setting body as it reviews whether the national minimum wage should rise again. Fintech & Entrepreneurship: OKX and UB Ignite hosted a fintech pitch competition, selecting five entrepreneurs for training and judging at the University of The Bahamas. Tourism & Travel: Norwegian Cruise Line expands U.S. access with new Philadelphia cruise terminal operations, while Royal Caribbean rebrands Perfect Day CocoCay and the WTTC highlights growing private-sector tourism leadership. Global Context: A federal court struck down a U.S. immigrant visa ban based on nationality, and IDB reports show Guyana’s debt servicing and jobs improving as growth accelerates.

Tourism & Growth Outlook: RF Bank & Trust VP David Slatter says the Bahamian economy is on solid footing, with tourism performing strongly and construction/infrastructure activity supporting GDP. Energy & Resilience: Prime Minister Philip Davis toured Abaco’s planned hybrid solar–LNG power plant, aimed at easing the energy crisis and reducing frequent blackouts; separate reporting also notes Grand Cay’s power restoration after weeks of disruption. Youth & Skills: Abaco students took part in the Future Ready Bahamas STEM camp, building and coding with hands-on tech including 3D printing and AI. Cruise & Tourism Branding: Royal Caribbean renamed “Perfect Day at CocoCay” to “Perfect Day CocoCay,” while Norwegian Cruise Line pushed further into the U.S. market with a new Philadelphia terminal opening. Finance & Regulation: The Securities Commission reported $221.7m in administrative penalties over two years as it tightens enforcement; Sunshine Finance elevated President Rosel Moxey to CEO and seeks a new president. Business Systems: The Bahamas Chamber welcomed the phased rollout of One Tax Bahamas, with early registration for the Bahamas Identification Number set for Sept. 1. Governance & Public Access: The Ministry of Tourism ordered removal of a Cabbage Beach fence after concerns it could restrict access and harm vendors.

Energy & Resilience: Prime Minister Philip Davis toured Abaco’s new hybrid solar-and-LNG power plant, with battery storage planned to help ease the island’s frequent blackouts; a similar hybrid project is also in the works for Eleuthera. Regulation & Finance: The Central Bank warned the public about Allied Bank and Trust Bahamas and related names, saying they’re not licensed to operate locally, urging people to verify before transacting. Capital Markets: The Securities Commission says it has imposed $221.7m in administrative penalties over two years as it shifts toward tougher enforcement, while reporting fewer AML/CFT/CPF deficiencies. Labour & Wages: The Bahamas Tripartite Council is pushing for a dedicated wage-setting body and renewed talks on raising the national minimum wage, currently $6.50 an hour. Business & Fintech: OKX and UB Ignite hosted a fintech pitch competition at the University of The Bahamas, training 30 finalists and crowning Financify owner Daquan Swain. Tourism & Royals: Buckingham Palace confirmed an eight-day Caribbean tour for King Charles III and Queen Camilla (Oct 27–Nov 4, 2026), including stops in The Bahamas, Guyana and Antigua for CHOGM 2026. Local Tourism Access: Government intervention will see the Cabbage Beach fence removed after concerns it could restrict access and affect vendors and watersports operators.

Bahamas Economy & Finance: The Central Bank warned the public about Allied Bank and Trust Bahamas, saying it is falsely claiming to be licensed locally, urging people to verify any financial institution before transacting. Regulation & Enforcement: The Securities Commission reported imposing $221.7m in administrative penalties over two years, while also saying AML/CFT/CPF deficiencies found in examinations have declined. Public Finance Watch: The Fiscal Responsibility Council warned the government’s $291.4m fiscal surplus target may be “aggressive,” citing weaker revenue collections, rising arrears and bigger guarantees; it also flagged a $43.1m crystallised PPP liability and questioned how it will be treated in accounts. Energy & Cost of Living: Bahamas Power & Light credited Grand Cay customers after a three-week outage, while Grand Cay residents finally saw power restored and BPL said longer-term generation plans are being expedited. Tourism & Business Access: Cabbage Beach access remains in focus as the Ministry of Tourism says a controversial fence will be removed after developers proceeded without proper engagement; taxi operators warn cruise passengers could cut beach excursions sharply. Tax Modernisation: The Bahamas Chamber welcomed the phased rollout of the One Tax Bahamas portal, saying early registration should give businesses time to train and prepare. Labour & Wages: The National Tripartite Council is pushing for a dedicated wage-setting body and renewed discussion on raising the national minimum wage. Fintech & Entrepreneurship: OKX and UB Ignite hosted a fintech pitch competition, with Financify taking the championship. Corporate Leadership: Sunshine Finance elevated President Rosel Moxey to CEO and is searching for a new president. Sports & Youth: Just Dance Bahamas made history at StarQuest World Finals, winning multiple titles and moving into the professional competitive division.

One Tax Bahamas rollout: The Bahamas Chamber says the phased launch of the One Tax Bahamas portal gives businesses time to train, with early registration for the required Bahamas Identification Number (BIN) set to begin Sept. 1. Central Bank fraud warning: The Central Bank issued a public notice saying Allied Bank and Trust Bahamas (and related names) is falsely claiming it’s licensed, urging the public to verify before transacting. Power crisis relief for Grand Cay: Bahamas Power and Light credited customers after a three-week outage, restoring power shortly after 8pm Aug. 26 and saying plans for a more resilient generation system will be expedited. Court update—Lindsay Shiver bail: A judge upheld bail for former beauty queen Lindsay Shiver, rejecting prosecutors’ bid to revoke it over alleged electronic monitoring issues. Fiscal watchdog flags budget risk: The Fiscal Responsibility Council warned the projected $291.4m surplus may require spending cuts, citing weaker revenue collections and rising arrears, and questioned accounting treatment of a $43.1m PPP liability. Tourism & business momentum: Scotiabank executives met Bahamian leaders on investment and sustainable growth, while the Gymnastics Federation announced The Bahamas will host the 2026 CARIFTA Artistic Gymnastics Championships for the first time.

Public Finance Scrutiny: The Davis administration issued $687.9m in loans to government corporations and agencies from July 2022 to June 2026, with no public details on purpose, terms, interest or repayment—fueling claims they’re “loans in name only” to keep figures off the books. Power Crisis Impact: Businesses say rolling outages are cutting into profits, forcing generator use, damaging equipment and even sending staff home; the Chamber of Commerce warns of unrecorded losses from fuel burn and inventory spoilage. BPL Funding Defence: PLP Chairman Fred Mitchell defended a $380m BPL loan as necessary for state-owned enterprises, citing BPL’s growing debt to government and urging patience while infrastructure is improved. One Tax Bahamas Pushback: Officials say One Tax Bahamas is an upgrade, not a new tax, and will use a 10-digit BIN to centralize VAT, business licences and property tax services—despite concerns over rollout, privacy and consultation. Securities Commission Crackdown: Unlicensed money-lenders and credit providers get until Sept. 30 to regularize or face enforcement from Oct. 1, including fines and possible imprisonment. Blue Economy Entrepreneurship: Five Bahamian entrepreneurs won $5,000 each after pitching blue-economy ideas, including a reef-safe sunscreen concept, backed by training and mentorship. Royal Tourism Spotlight: King Charles III and Queen Camilla are set to visit The Bahamas, Guyana and Antigua and Barbuda from Oct. 27 to Nov. 4, with CHOGM in Antigua. Local Tourism Tension: Cabbage Beach vendors protested a new shoreline fence they say could block access and threaten livelihoods.

One Tax Bahamas: The government says the Sept. 1 One Tax Bahamas rollout is not a new tax, but a single digital portal using a 10-digit Bahamas Identification Number to simplify VAT, business licence and real property tax access. Regulation Push: The Securities Commission of The Bahamas gives unlicensed moneylenders and credit extenders until Sept. 30 to regularize or face enforcement from Oct. 1. Cannabis Framework: A cannabis tracking platform will be pilot tested before year-end, with a system expected to be operational from February under the Bahamas Cannabis Authority. Power Crisis: Foreign Affairs/PLP Chairman Fred Mitchell defends a $380m BPL loan as part of chipping away at legacy debt and infrastructure needs. Labour Reform: Labour Minister Pia Glover-Rolle says revised Employment and Industrial Relations Act amendments, including expanded leave, are moving toward Parliament before year-end. Tourism Momentum: The Bahamas reports record 2025 visitor growth and continued gains in 2026, supported by better air access and visitor tech. Royal Spotlight: King Charles III and Queen Camilla will visit The Bahamas, Guyana and Antigua for CHOGM, starting Oct. 27. Community & Business: Baha Mar Resort Foundation announces $300,000 in community investments; UB and OKX select five fintech finalists for a pitch competition.

Power & Cost of Living: Bahamas Power and Light (BPL) warned of a phishing scam offering fake electricity bill discounts, as the wider power crisis keeps hitting households and businesses. Island Reliability: BPL said a replacement generator for Little Grand Cay is still delayed and that it’s moving toward a long-term generation plan, with vendor selection focused on reliability and delivery times. Labour Tensions: BPL extended suspensions of union members Wellington Porter and Melvin Babb amid an overtime dispute, while the union says managers who authorise overtime haven’t faced the same scrutiny. Public Finance: The government added $700m to central government debt, widening concerns about fiscal discipline. Tax Administration: Opposition leader Michael Pintard urged a pause on the One Tax Bahamas rollout, citing privacy and governance questions ahead of the Sept. 1 launch. Fintech & Youth: UB Ignite and OKX Bahamas selected five finalists for a fintech pitch competition, aiming to turn ideas into viable businesses. Business & Tech: Aliv marked 10 years in telecoms and expanded into fibre, while Simplified Tech launched AI sales and humanoid robotics services. Royal & Tourism: King Charles III and Queen Camilla announced an autumn tour including a Royal Visit to The Bahamas ahead of CHOGM in Antigua and Barbuda.

Power Crisis & Business Impact: Bahamas Power and Light’s instability is hitting the economy hard, with businesses and consumers weighing whether rented generators are a real fix as outages and delays continue, including on Grand Cay. Public Finance Scrutiny: The Davis administration added about $700m to central government debt despite projecting a surplus, raising questions about fiscal planning. Tax Reform Pushback: Opposition Leader Michael Pintard is calling for a pause to the One Tax Bahamas rollout ahead of the Sept. 1 launch, citing privacy and consultation concerns over the new Bahamas Identification Number. Judicial Review in Finance Ministry: A Supreme Court interim injunction halts proceedings to retire Deputy Financial Secretary Athena Marche pending judicial review. Tech & Entrepreneurship: Simplified Tech launches AI sales and consulting with humanoid robotics, while UB and OKX select five fintech entrepreneurs for a pitch competition. Tourism & International Links: King Charles III and Queen Camilla will visit the Bahamas in late October as part of an autumn Commonwealth tour. Cruise Industry Notes: Carnival updates itineraries for 11 sailings and tests later dining hours; Norwegian confirms a fatal balcony fall on Norwegian Getaway.

BPL Debt Surge: The Ministry of Finance says Bahamas Power and Light’s borrowing from government jumped from $220.7m (March) to $287.2m (June), and from $179m (June 2022) to $381.9m by end of FY2025/26—raising fresh questions about how the funds are being used. Power Crisis Fallout: With outages dragging on, Grand Cay residents still await a delayed rental generator, while FNM deputy leader Shanendon Cartwright calls for BPL to compensate households and businesses for damaged appliances and losses. Labour Tensions at BPL: The Bahamas Electrical Workers Union says two workers’ suspensions were extended by 20 days as an overtime investigation continues, with union leaders warning management may be misusing the process. Tax Push: The Department of Inland Revenue says enforcement and technology are lifting collections, and that the “One Tax Bahamas” portal will launch Sept. 1. Insurance Watch: AM Best withdrew ratings for New Providence Life Insurance Company, citing lack of updated financial information post-acquisition. Cruise & Tourism Signals: Norwegian Cruise Line confirmed a fatal balcony fall aboard Norwegian Getaway, while Disney announced expanded 2027–28 Caribbean sailings including Bermuda and Bahamas stops.

Power & public finance: Bahamas Power and Light’s debt to central government has ballooned to $381.9m by end of the 2025/26 fiscal year, after $66.5m in advances between March and June 2026, raising fresh questions about how the funds were used amid the ongoing outages. Consumer pressure: FNM deputy Shanendon Cartwright says BPL should set aside money to compensate households for damaged appliances from outages, while BPL points customers to a claims process. Island disruption: Little Grand Cay’s replacement generator delivery was delayed again, with residents now waiting weeks since the power loss. Tax modernization: The Department of Inland Revenue will launch the One Tax Bahamas portal on Sept. 1, starting with a new Bahamas Identification Number (BIN) for registration, with enforcement also set to increase on delinquent property taxes. Education outcomes: National exam results show only about 1 in 3 BGCSE candidates who sat five-plus subjects earned at least five C grades, despite a modest rise in overall pass rates. Tourism & trade: Bahamas Trade Commission chief Barry Griffin argues tourism’s “leakage problem” can be tackled by building Bahamian firms that supply tourism demand. Regenerative healthcare: GARM Bahamas officially opens on Paradise Island, bringing regenerative and longevity-focused care to residents and visitors. Climate watch: CIMH and UWI warn El Niño is strengthening, with hotter, drier conditions and drought risks likely affecting parts of The Bahamas into 2027. Cruise industry: Disney Cruise Line plans a return to New York in 2027 with Disney Wish sailings to Bermuda and a Southern Caribbean expansion.

Offshore Planning: A new explainer weighs which offshore “debtor haven” jurisdictions U.S. citizens may consider, focusing on secrecy, court-recognition hurdles, and how creditors would have to pursue cases. Visa Policy Shock: A U.S. judge struck down a Trump-era nationality-based visa ban affecting Haiti, Cuba and many Caribbean nations including the Bahamas, saying it exceeded authority. Power & Business Impact: Downtown Nassau and parts of Shirley Street and Fort Charlotte stayed in the dark amid BPL/BGC repair work, with the Broadcasting Corporation of The Bahamas forced off air after a generator overheated and fumes spread. Airport Upgrade: NAD begins a $6.5m rehabilitation of LPIA Runway 14/32, with a full closure expected for the first three to four weeks and operations shifted to Runway 10/28. Tourism & Healthcare Growth: GARM Clinic officially opens on Paradise Island, positioning The Bahamas as a longevity and regenerative destination. Entrepreneurship & Skills: The BeInspired Programme expands on Grand Bahama with funding up to $5,000 for young entrepreneurs, while BYLD students toured Grand Bahama Shipyard to explore ship repair careers. Local Economy Signals: Bank of The Bahamas reported $26.5m net income, and Commonwealth Brewery posted $6.27m first-half net profit. Governance & Compliance: Customs and Immigration union says health insurance coverage disruptions persist and members are being left to pay out of pocket.

Aviation & Infrastructure: Nassau Airport Development Company (NAD) is set to start a $6.5m rehabilitation of Runway 14/32 at Lynden Pindling International Airport, with the runway fully closed for the first three to four weeks and work expected to finish by Oct. 31. Power Crisis: New Providence and parts of the Family Islands continue to reel from unreliable electricity, with BPL reporting ongoing repairs after underground cable faults and warning that some areas may stay offline to avoid overloading. Island Reliability: Little Grand Cay residents say relief has been delayed again, as a replacement generator shipment keeps slipping due to additional testing. Business Impact: Original Patties Bakery suffered a major setback after an early-morning fire destroyed stock, freezers, storage and offices; the cause is under investigation. Finance & Banking: Bank of The Bahamas reported $26.5m net income for FY ended June 30, 2026, citing higher lending and stronger operating income, while Commonwealth Brewery posted a 5.1% rise in first-half net profit to $6.27m. Local Talent & Education: BRON Academy launched to expose Bahamian youth to engineering, architecture and technical careers, and BAMSI alumnus Aaron John is advancing biodegradable packaging from coffee pulp. Policy & Investment: Bahamas Economic Affairs Minister Michael Halkitis says the government is not participating in the initial public offering linked to the Dangote refinery underwriting invitation. Legal & Human Rights: A paralysed man shot by police in 2016 was awarded a US$80,000 interim payment for urgent medical treatment.

US Immigration Ruling: A Biden-appointed judge in Manhattan struck down Trump’s indefinite immigrant visa suspension for nationals of 75 countries, including several Caribbean states, calling the policy “patently unlawful” and ordering it vacated—an immediate win for families seeking case-by-case processing. AI & National Strategy: A Bahamas-focused op-ed argues the country doesn’t need the biggest AI model, but must build skills, services and data ownership—while tying any AI push to energy planning. Power Crisis Hits Commerce: Downtown Nassau businesses say Bay Street outages are now crippling operations and revenue, with calls for a more permanent fix as some shops remain in the dark. BPL Overtime Dispute: Union-management tensions over BPL overtime continue to flare, with criticism aimed at how overtime was handled during the wider grid strain. National Investment Fund Scrutiny: Opposition figures and former officials question National Investment Fund transfers and governance, including whether proper business cases and an independent board were in place. Tourism Talent Pipeline: The Tourism Development Corporation’s Summer Sounds program is training young musicians for careers in the “orange economy,” linking culture to downtown visitor experience. Local Business Fire: Original Patties Bakery suffered major damage in an early-morning fire that destroyed freezers, storage and office areas. Caribbean Economy Outlook: ECLAC forecasts Caribbean growth of 5.6% in 2026, but warns the region slows sharply without Guyana’s oil-driven surge. Cruise Industry Move: Royal Caribbean expands RoyalUp bidding beyond staterooms to premium onboard and Perfect Day at CocoCay experiences, including casitas and cabanas.

Energy & Business Disruption: Downtown Nassau businesses are still dealing with prolonged power outages, with Bahamas Power and Light citing two equipment issues at the East Hill Street Substation and scheduling repairs expected to take 5–6 hours, while operators warn the disruption is crippling sales and operations. Public Finance Scrutiny: Former Acting Financial Secretary Marlon Johnson says the government hasn’t provided basic information on the National Investment Fund, including how more than $200 million was removed and what business case supports airport-related spending. Local Transport Tensions: The Bahamas Taxi Cab Union accuses the Department of Road Traffic of “cherry picking” enforcement in the taxi-versus-livery dispute, after the regulator warned against unlawful road blockages and threatened penalties. Regional Growth Watch: ECLAC projects Caribbean growth of 5.6% in 2026, but only 1.1% without Guyana—highlighting the widening gap driven by Guyana’s oil-led expansion. Tourism & Connectivity: More than a year after Silver Airways’ collapse, Abaco and Bimini still feel the airlift shortfall, with out-island tourism performance weak and seat loss yet to be fully replaced. Cruise Industry Moves: Royal Caribbean expands RoyalUp bidding beyond staterooms to premium onboard and private-island add-ons, including casitas and cabanas at Perfect Day at CocoCay. Immigration Policy Impact (US): A US judge struck down Trump’s immigrant visa suspension affecting nationals from 75 countries, including The Bahamas, as the ruling found the policy “patently unlawful.” Entrepreneurship: GBPA backed a youth innovation and entrepreneurship camp in Grand Bahama, aiming to grow local talent and business skills.

Power Crisis Hits Downtown Nassau: Bay Street businesses say prolonged outages are wiping out sales, spoiling food and forcing closures, with BPL citing equipment issues at the East Hill Street Substation and delays in restoring full service. Crown Land Legal Setback: The Privy Council has dismissed an appeal over a proposed Paradise Island beach club and lighthouse restoration, ruling the Crown Land lease was never binding without ministerial execution. National Investment Fund Scrutiny: Former Acting Financial Secretary Marlon Johnson says the NIF’s framework calls for an independent board, as questions persist over how more than $200m was removed and what approvals and business cases were used. Taxi vs Livery Dispute: The Bahamas Taxi Cab Union accuses Road Traffic of “cherry picking” enforcement while warning against unlawful road blockages amid an ongoing standoff. Tourism Airlift Pressure: Abaco and Bimini still feel the seat-loss fallout after Silver Airways’ collapse, with out-island tourism only beginning to show improvement in mid-year. Caribbean Growth Outlook: ECLAC projects Caribbean growth at 5.6% in 2026, but just 1.1% without Guyana, underscoring the region’s widening economic divide.