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!

162 thoughts on “Sagicor and Scotiabank Signal the Caribbean Market


  1. RE A Bushman has to do…what a bushman must do
    ABSOLUTELY! YOU DO NOTHING BUT TALK SHITE

    I ASK AGAIN As to ” WHY IS IT THAT BARBADOS IS IN SO MUCH DEEP DOO DOO WHEN YOU HAVE THIS SAGE AROUND”…

    YOUR SILLY ANSWER IS CLEARLY UNSATISFACTORY AND NO ONE ON BU HAS THE GUTS TO TELL YOU SO

    Bushie is not here to bring ‘peace and financial security’ …. but a WHACKER.

    WHAT OR WHO IS YOUR WHACKER WHACKING?
    WITH WHAT RESULT? WITH WHAT PROGRESS VISIBLE OR INVISIBLE

    AS TO THE OTHER ASS PACHMAMA WHO KNOWS THAT “These matters are infinitely beyond the scope, even scale, of 11-plus boys,” SEEING THAT HE KNOW SO MUCH, WHAT DOES HE DO? WHAT HAS HE DONE EXCEPT THAT TALK SHITE AND LICK ASS?

    I JUST ASKING QUIETLY AND PEACEFULLY


  2. @Pachamama at 8:14 AM

    Welcome back. Where did you go though?
    I agree and have been promoting tor a longtime now on this blog and elsewhere that the current dynamics cannot be explained within the outdated models that is being used to understand and correct the apparent faults in the Barbadian economy.
    The environment has changed. We have to up our game. But I keep hearing the same old same old narratives.
    And Bush Tea is right. The fundamentals are wrong. Very wrong for us in the Caribbean. Sometimes I wonder if the players are aware of what games they are playing. The rules are not being written in the Caribbean. So the local players, despite their higher education ,are still behaving like operatives.

    Just my take.


    • @Vincent

      Does Mia have the courage to dismantle it? If she tries it will be at her peril.

      We are definitely in a spot of bother.


  3. Does Mia have the courage to dismantle it?

    NO SHE ONLY HAS A BIG MOUT BUT NO COURAGE TO CHANGE NUTTIN

    If she tries it will be at her peril.

    HA HA DAT IS WHERE SHE DIFFERS FROM TRUMP WHO DARES TO TAKE ON DE SWAMP THE DUMBOCRATS THE RHINOS AND THE MORONS ON THE WORLD SCENE
    LIKE THE WOMAN IN GERMANY WHO DONT EVEN KNOW HOW TO PRONOUNCE HER NAME


  4. @ David
    Does Mia have the courage to dismantle it? If she tries it will be at her peril.
    We are definitely in a spot of bother.
    ++++++++++++++++++++++
    What brings about this change of outlook? What happened to all the hope? Hope Road getting ‘dig up’?


  5. RE We have not been able to inspire the transformational leader required for the times.

    LET SATAN’S SON BUSHTEA COME WITH HIS WHACKER TO WHACK THE BRASS BOWLS AND TALK SHITE

    THERE YOU HAVE the transformational leader required for the times, PRESIDENT OF THE WHACKER OR WHACK PARTY. MURDAH! OH SHIRT!

    RE We have not been able to inspire the transformational leader required for the times.

    DONT WE HAVE DAVID KING, EDITOR OF THE DAILY DRIVEL?

    SOLOMON SAY ENJOY LIFE YA HEAR?

    EVEN A NOBODY LIKE ME OF WHOM IT IS SAID “These matters are infinitely beyond the scope, even scale, of 11-plus boys, ” MURDAH


  6. @A. Dullard,

    Yo may recall when some of us thought that the new government should have been critiqued after 100 days, as is traditional, we were told to give them six months. That time is now up.
    What is the BLP vision for the future of Barbados? Are we going to have a robust debate?


  7. A. Dullard December 3, 2018 12:10 PM

    @ David
    Does Mia have the courage to dismantle it? If she tries it will be at her peril.
    We are definitely in a spot of bother.
    ++++++++++++++++++++++
    What brings about this change of outlook? What happened to all the hope? Hope Road getting ‘dig up’?

    DULLARD I ONCE HEARD A GRENADIAN CHICK AT CAVE HILL IN 1971 TELL A CLASSMATE IF YA LIVE IN HOPE YA MIGHT DEAD IN DESPAIR
    THE ONLY VALID HOPE (ELPIS) IS THE BLESSED ASSURANCE OF HEBREWS 6:19-20

    Which hope we have as an anchor of the soul, both sure and stedfast, and which entereth into that within the veil; Whither the forerunner is for us entered, even Jesus, made an high priest for ever after the order of Melchisedec.

    CHRIST IS OUR ONLY HOPE


  8. RE Are we going to have a robust debate?

    A ROBUST DEBATE IMPLIES VALID POINTS FOR AND VALID POINTS AGAINST

    BUT ALL THE BLP HAVE RIGHT NOW IS SEVERAL VALID POINTS AGAINST


  9. A, Dullard ……………

    Has asked the right question/s.

    The answers have been and will always be that this culture cannot exist without the hope-mongering we have always seen. But political heavens were always illusive.

    What would be a better ‘opium of the masses’ than the intangibility of hope when in fact ‘hopelessness’ is the order of the day?

    How better can political parties convince a population that power should be so consolidated especially when they themselves know not and in any event care not and really want to serve elite interests.


    • @Pacha

      Isn’t there a difference between hopelessness and hope?

      Isn’t the survival of humankind anchored to ‘hope’?

      How can any challenged be overcome if there is not the confidence that emits from hope.

      But we digress.

      >


  10. WHEREAS Dum spiro spero WAS A NICE SAYING BY Theocritus and Cicero, IN CONTEMPORARY BARBADOS WE MIGHT SAY ONLY THE DUMB SPEROS WHILE THEY SPIRO
    AT LEAST WUNNAH STILL GOT THE BEACH……..EVEN THOUGH NOT MY CHILDHOOD PLAYGROUND BEACH AT WORTHING IN DE 60’S FROM ST LAWRENCE TO CACRABANK


  11. QUESTION What would be a better ‘opium of the masses’ than the intangibility of hope when in fact ‘hopelessness’ is the order of the day?

    ANSWER HOPE IN SOMETHING REAL! AND TANGIBLE!


  12. @Pachamama December 3, 2018 8:14 AM “These dynamics CANNOT be properly explained using a dated logic. Meaning, something else has been happening and needs a new logic.”

    Nothing else has been happening.

    Human beings are selfish and greedy.

    Human beings have always been selfish and greedy.

    Everyday human beings kill other human beings. Human beings sell other human beings, yes, still. Human beings eat other human beings.

    Nothing new here.

    Nothing new at all.

    Why do you seem surprised when people behave like the selfish, greedy, amoral animals that they are?


  13. David

    We are well aware that this subject is central to your very being. We however, reject all notions of what you call ‘hope’ primarily because of what it has become. How it has been politicized historically, to deliver the reverse – hopelessness.

    So whether in politics, religion, economy, all merchant of ‘hope’ should be shot on sight just like the original people of the earth ‘did’ to the christian missionary insistent on invading the space of an aboriginal nation’s people, recently in India.


  14. @ Dr, Simple Simon at !2 :40 PM

    Greed may always be with man. The problem is that every time we find an antidote for greed it metamorphoses, like a virus ,into another form. We have to be forever vigilant.


    • @Vincent

      Agree with you, in much the same way the addiction to consumption must be fed. We are unable to detox.


  15. @Pachamama December 3, 2018 12:43 PM “all merchant of ‘hope’ should be shot on sight just like the original people of the earth ‘did’ to the christian missionary insistent on invading the space of an aboriginal nation’s people, recently in India.”

    I don’t share Pachamama’s views that more bloodshed will fix anything, although I can’t say I blame the people who arrowed the young man in the Indian Ocean [not India. India claims the place but the people are their own people] recently, but apparently he believed that those people were “living in Satan’s last stronghold on earth”

    If he needed to find a stronghold of Satan he need not have travelled thousands of miles, he just needed to go to the nearest mass shooting in his own United States, and there he would have found Satanic American young men. He need not have broken and entered the home island of people thousands of miles from him A people who have never touched a single hair on the head of a Christian or American in 70,000 or so years.

    Foolish boy. There is an American institution which annually awards IgNobel prizes.

    I think that he deserves a posthumous IgNobel..


  16. @ David
    Some of us understand quite well. The challenge is always how. Our politicians survive based on popularity. We have not been able to inspire the transformational leader required for the times
    ++++++++++++++++++++++
    LOL
    Are you not putting at risk your optimistic demeanour which you have been using to be the “Devil’s Advocate” here on BU?
    “HOW”…. is the million dollar question.

    and…
    Inspirational leaders are special BLESSINGS from on high…. We DO have some…
    But mostly, Brass Bowls tend to crucify them….
    …or at least dismiss them as crazy….


  17. That is precisely what I’ve always said. Bajan brass bowls only like and respect other brass bowls. Anyone who is different is crucified and called crazy. These are the people who think outside of the box and could actually make a difference. So that is why I said to you last week that it is not that there is no-one to fix the mess we are in but that the wrong people always rise to the top. And Bajans always seem to think that the solution has to originate with the top.

    But I believe in breaking problems into little pieces and finding solutions that originate in the villages of Barbados and spread when success is proven. It takes longer but it prevents the feeling of being overwhelmed that actually tends to paralyse and prevent action.


  18. RE Inspirational leaders are special BLESSINGS from on high…. We DO have some…
    But mostly, Brass Bowls tend to crucify them….
    …or at least dismiss them as crazy….

    I KNOW THE FEELING
    I KNOW IT ONLY TOO WELL… MURDAH THAT IS A MAXIMUM


  19. 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.


  20. @ GP
    I KNOW THE FEELING
    I KNOW IT ONLY TOO WELL
    ++++++++++++++++++++++
    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….
    LOL

    @ 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 ….
    +++++++++++++++++++++++++++
    WAIT….!!!
    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…

    FURTHERMORE…
    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….
    Steupsss


  21. RE wunna will think that the Bushman mad as shiite…

    WE DONT TINK SO………WE KNOW SO …….AND YA DEMON POSSESSED TOO!

    I REPEAT
    I KNOW THE FEELING
    I KNOW IT ONLY TOO WELL

    AND THAT CAN NOT BE REFUTED EXCEPT BY SATAN THE SLANDERER OR HIS SON AND REPRESENTATIVE ON BU


  22. 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.


  23. 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…


  24. 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.


  25. @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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