CARIBBEAN STOCK REPORT 19 March to 23 March 2011

The following is a comment which BU posted in April 2011 and remains relevant today. What can Barbados do to mobilize interest in the local Barbados Stock Exchange (BSE)?

Compiled by the Department of Management Studies, UWI Cave Hill - Click image to read in PDF

The decision by the Department of Management Studies of the University of the West Indies to compile the Caribbean Stock Report is to be commended. Regrettably the report has not generated a national conversation which begs the question, why. Perhaps there is a ‘financial illiteracy’ which plagues a population which can boast of billions spent on education in the post Independence period.

BU believes local media has an important developmental role to educate the public it serves. It is not too late for local media to collaborate with the Department of Management Studies at UWI, Cave Hill by using the Caribbean Stock Report as a jump-off point to achieve such an objective. In fact it fits well with the strategy of Starcom to roll-out a Caribbean radio station.

It is ironic the ‘noise’ which is created about freedom of movement as a key driver for regional integration. However there is a comparative silence  about the other drivers, e.g. building frameworks for regional trade and a financial market.

Go figure!

0 thoughts on “CARIBBEAN STOCK REPORT 19 March to 23 March 2011

  1. Are there any suggestions out there how we can get Barbadians mobilized to be interested in buying stock and be able to have a say in how companies are managed in Barbados?

  2. @ David | March 29, 2012 at 6:16 AM |

    In spite of the BL&P ‘sell out’ by many of the local shareholders including the NIB, many of us would be quite prepared to invest in companies provided the framework for corporate governance is significantly strengthened and improved. Despite CLICO being a ‘private’ company the dismal lack of regulatory surveillance and total absence of due care and competence at the Board of Directors’ level has left a very bitter and awful taste in the mouths of would-be investors.
    This lack of confidence and downright distrust of those entrusted with the fiduciary responsibility of looking after our savings and investments can only be repaired when steps are taken by governments to shore up the corporate governance environment.
    Potential investors would be most wary in putting their money in businesses that owe money to the Treasury. So until the ruling administration (current or coming) make it a policy of publishing the names of businesses that refuse to pay VAT & NI contributions within the time periods specified by the law we would be most reluctant to do business with these law breakers and downright corporate thieves. The payment of land and corporation taxes might be somewhat dependent on bottom line profitability and cash flow timing but to collect VAT from customers and deduct PAYE & NI contributions from the workers’ earnings and NOT pay them over in a reasonable time period is nothing but downright dishonesty, misappropriation of funds, and stealing of other people’s money.

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