FREEPORT, Grand Bahamas, The Bahamas — Minister of Economic Affairs and Leader of Government Business in the Senate, Senator the Hon. Michael Halkitis says that Grand Bahama has a large role to play in the government’s national development plan.
Noting that the government is committed to fulfilling the vast potential for economic growth and diversification that has always existed in Grand Bahama, he said: “We have not yet tapped into Grand Bahama’s potential as a hub for Fintech. The local farming and manufacturing industries still provide tremendous potential for development and expansion. And we are in the early days yet of rebuilding the tourism industry.”
Minister Halkitis was the keynote speaker at the opening of Bahamas Assurance Financial’s (BAF) new offices, along with the new office for Cash n’ Go, August 12, 2022 in the Regent Center. The opening of the two new businesses is expected to create more job opportunities for Grand Bahamians.
Minister Halkitis said it was always intended for Grand Bahama to join New Providence as central pillars of the Bahamian economy. Many people still fondly remember when Grand Bahama’s quality of life was unparalleled, said Minister Halkitis — “it is time to rebuild, restore and return to those days.”
He continued, to return to those days, “we not only need government resources and foreign direct investment, we also need Bahamian-owned businesses to lead the way. BAF Financial & Insurance, and Cash n’ Go, are two such Bahamian brands that are leading the way.
“In an ideal environment, this is exactly how it works: the government provides the infrastructure and paves the way for opportunity, while private sector minds provide market-driven solutions. BAF and Cash n’ Go represent Bahamian-led enterprise at its finest.”
Minister Halkitis noted that as the government seeks to improve the ease of doing business and facilitate economic growth; innovative businesses like BAF and Cash n’ Go will be the primary engines of growth for the local economy. He pointed out that every business that re-opens or expands in Grand Bahama is another small step in the right direction.
Minister for Grand Bahama, the Hon. Ginger Moxey also congratulated BAF Financial and Cash n’ Go for the re-opening of their new locations in Freeport. She noted that the BAF story of 2007 is one that characterizes Bahamian empowerment, when two young Bahamians, of humble beginnings pioneered the buy-out of one of the leading and the oldest insurance companies in the Bahamas. Those two business visionaries were I. Chester Cooper and John Wilson.
“This kind of story continues to be an inspiration to many young entrepreneurs in the Bahamas,” said Minister Moxey. “I would like to take this opportunity to express my sincere gratitude to the leadership of BAF and Cash n’ Go for remaining a part of the Grand Bahama community. The relocation and opening of these new offices in the Regent Center is an indication of your level of confidence in this island.
“Both of these businesses provide employment and crucial services to the residents of Grand Bahama at a time when our island is still rebounding and rebuilding from the devastation caused by Hurricane Dorian.
“As the Member of Parliament for Pineridge, where these offices are located and as Minister for Grand Bahama, I would like to congratulate the executive team from both BAF and Cash n’ Go on the opening of your new location. Thank you for your investment in Grand Bahama and your contribution to the growth and development of the Grand Bahama economy.”