Sagicor and Scotiabank Signal the Caribbean Market

The blogmaster received several messages yesterday from members of the BU family whicch highlighted two financial transactions choking local, regional and some internation newsfeeds.

The decision by Scotiabank to shed operations in nine Caribbean islands should hardly be a surprise to those who make it a business to keep ears to the ground. The region has become a hot mess regarding the state of economies and with de-risking high on the agenda of financial institutions the risk appetite of international banks operating in the region has reached an intolerable level. At some point in the future they will completely withdraw from a region to focus on bigger markets.

The acquisition of Sagicor shares by Canadian company Alignvest for 536 million dollars- reportedly to create the opportunity to efficiently raise capital by listing in a more liquid market to drive growth is the other mega transaction closed this week. The following statement by Sagicor’s Chief Operating Officer Ravi Rambarran about how regional stock exchanges operate is instructive:-

At the same time, our stock markets in the Caribbean are very thin and very illiquid. We saw just last week Friday someone sold 700 Sagicor sales out of 306.3 million shares and drove the price down to about USD1.00 That means all the other shareholders who have their stock had to value their stock at this price. That is a reflection of our stock market being very thin and very illiquid.

We look forward to a debate led by our educated class to inform a general public who are in the main disinterested and ignorant about these kinds of transaction. A shame!


  • Hmmm. Just read all of the posts. Seems like you guys are finally beginning to understand that our foundation is flawed and we have to tear down and rebuild. No more patching ideas. This system has outlived its usefulness. But before we build we have to determine what it is we wish to build.

    And since as SS reminds us, there will always be greedy and selfish men, it will be a daily battle. The fight for justice never ends. We do not get to rest on our laurels. This is what happened. We started to believe that government could be trusted to act in our best interests. We believed in the system. We fell asleep. Are we woke yet?????

    So, this is my hope – that we will AWAKEN – because only then can we rise and shine.

    Liked by 1 person

  • @ GP
    Stop fooling yourself Boss…
    What know what feeling what!!??
    It in your belly right…?
    …a gut feeling…?

    That is most likely constipation you are feeling skippa…
    You are no martyr..
    You are simply a legend – in your own mind….

    @ Donna
    This system has outlived its usefulness. But before we build we have to determine what it is we wish to build.
    …And since as SS reminds us, there will always be greedy and selfish men, it will be a daily battle ….
    You sure you is a woman?
    How the Hell you get so perceptive?
    You trying to prove Solomon wrong?

    Excellent analytical process…..and the PATH to true SUCCESS.

    OBVIOUSLY what we need then – is a SYSTEM that SPECIFICALLY targets selfish and greedy men (and women) and exposes their donkeys to public scrutiny in a way that keeps them in check – EVEN WHEN THEY ARE A BUNCH OF BLASTED THIEVES.
    Gradually, brass bowls will come to find that there is actually MORE personal gain in being SELFLESS and COMMUNITY CENTRIC than in being albino-centric. greedy and dishonest.

    Such a system will be gradually accepted BECAUSE the results will be outstanding …
    and the bottom line (financial success) will be the beneficiary.

    BUT if Bushie says the SAME thing now – by saying that we need to SEEK FIRST the righteousness of God’s kingdom…and ALL the things that we wish for …WILL BE THE END RESULT….. wunna will think that the Bushman mad as shiite…

    If Bushie points to the CREDIT UNION as such a SYSTEM …. that WORKS in Barbados…. AND that produces the kind of results that we are here dreaming of… RUN BY THE SAME BRASS BOWLS that mashing up the rest of the country….
    Wunna will say that Bushie just talking MORE shiite….

    Bob Marley said it best…
    In the abundance of water, the brass bowl is dying of thirst…
    …and to think that Caswell accumulated ALL that Supervisory Committee experience for nought….

    Liked by 1 person

  • RE wunna will think that the Bushman mad as shiite…





  • @ GP
    Try some enos salts


  • Bushie,

    It is already more beneficial to be selfish and community-centric in the long term. The brass bowls just cannot see any further than the end of their noses. That is the problem.

    Now if an attorney does good work for his clients don’t you think the word would spread and he would get more clients and more money???? And the time and energy he spends stonewalling could actually be spent in the kind of productive work that brings on the good tiredness that SS and GP spoke about yesterday. And he wouldn’t have to worry about being chased down Pinfold Street by a client with a machete.

    And if a politician did her best for the country would not the adoring public be willing to pay her millions a year for saving them billions?

    And if a businessman offered a good product for a fair price, had good customer service and treated his staff fairly would he not attract more customers, better staff and less headaches????

    And if more people had a living wage would they not be able to purchase more and would not the money end up back in the hands of businessmen????

    I just think the basic premise upon which these people operate is flawed.

    Many years ago a bus I was on started smoking. The driver very calmly stopped the bus and told us to get out. I saw people who had pushed savagely to get into the bus calmly exiting without a single shove. In just a few seconds we had ALL retreated to safety. If they had acted like crabs in the barrel it would have taken much longer. and if the bus had caught afire we could all have lost our lives.

    Doing the right thing ALWAYS benefits the doer in the long run.

    P.S. I AM a woman and so are my two best friends – you know the “wutless” ones who were not made prefects at Q.C. We think alike. The system of course does not like us. We have made mistakes in dealing with the system (At one point I just dropped out totally in disgust) but we continue to think and learn and grow.


  • Good analyses again…

    Some shiite has to be wrong with you Donna…. something serious!!
    Not only do you claim to be a woman, …but you went to QC…. ???
    and still got sense..?!!
    …and have eyes to see…?

    Unheard of… near to impossible.

    Bushie will need some more direct proof of these alleged facts…
    Part you live…..?
    We may need to talk….
    …and bring the two rebel girlfriends too..
    Bushie may need to exercise the whacker…

    Liked by 1 person

  • Correction. Selfless not selfish


  • Very funny, Bushie. I KNOW you know that I am a woman. And I KNOW you know I am telling the truth. I am not difficult to read.

    Liked by 1 person

  • These days are funny night Donna
    Only one sure way to know…. a whacker test.


  • who are the principals of this company taking over sagicor ands what is their claim to fame?


  • @Tedd,
    It appears as if Sagicor was bought by a SPAC. Who are the underlying owners? Why are our regulators not taking n interest in the future benefits of Barbadians? Have they spoken to the Bermudan and Canadian regulators?


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