From Pillar to Post

Many will agree the times we have to live have been and will always be uncertain, especially for small developing states (SIDs). Countries like Barbados- if economists are to be believed- will be vulnerable to economic shocks. To add to the vulnerabilities there is scientific consensus about the threat caused by global warming, predicted to translate to increasing drought, rise in temperatures and other negative events for SIDs.

Whatever the perspective held, there will never be full agreement on these kinds of matters. In the last 15 years or so Barbados has been lurching from one crisis to the other. In 2008 there was the global financial crisis which permanently hobbled the local economy and in 2019 the pandemic. Not to forget the other events that occurred in the in-between period.

Notwithstanding the risks small island developing states have to perpetually manage, it does not excuse the leadership of SIDs (including Barbados) to neglect the importance of intelligently devising fit for purpose strategies to sustain an acceptable quality of life for citizens. There was a time local governments strived to achieve a budget surplus, it shifted to a balanced budget to what is currently fashionable running deficits. All key economic indicators e.g. debt to GDP, rate of unemployment, inflation, consumer price index and others support the blogmaster’s view that the magnitude of today’s uncertainty is greater than in previous years. 

If the blogmaster is correct, it means traditional decision making and approaches by the leadership of the country will not be relevant for the times. Leaders in government as well as NGOs have to agree to new governance models. Lurching from pillar to post to react to the latest crisis is not sustainable for SIDs. The Mottley government has been forging closer relationships with some African countries and Guyana in the region, a good initiative. Political parties, NGOs and others have to find ways to lure the best talent from the citizen pool to be able to expertly respond to growing uncertainty how we manage our affairs.

In the period 2015 to 2018 the proposed Cahill waste to energy 240 million plant was the topic of public discussion. Thankfully it was scrapped when the technology proved unstable as well as questionable agreement between the former government and Cahill Energy became public. However, the problem of Barbados efficiently processing waste remains unsolved. To give weight to the problem, sewage diverted from the street on the South coast of the island to the sea can be summarised as government kicking the can down the road. Reality check – there is no fiscal space given the perilous state of the Barbados economy to prioritise a comprehensive waste to energy solution. A reminder that in times of plenty one should be judicious.

It has been 15 years since the global financial crisis and instead of Barbadians seeing the advantage of agreeing to a sensible strategic approach, we continue to be divided on every important issue facing the country. The country needs to sign on to a holistic plan, one designed to plot the country’s success for the next 10 to 15 years. This is how good leadership is measured.

A word to the wise should be sufficient.

53 thoughts on “From Pillar to Post

  1. Well the feckless decision to pump sewage into the sea and the lack of a municipal waste system even four years since Cahill and the rise of the ‘Mottley revolution’ dovetail precisely with what the Europeans and Americans are doing viz. a viz the environment with the ramping back up of coal plants etc.

    There is little doubt that this new century has not be kind to the Global South, particularly those following neoliberal capitalism as is the case for Barbados. Indeed, capitalism itself has always been the bane of our existence.

    Yet there are the hopeful amongst us who assess that same miracle would happen. That things would have been better we’re it not for Russia. That the DLP alone takes the blame in driving this economy over the cliff. And more.

    The underlying truism is that capitalism has always been unstable, subject to collapse after collapse, on the road to a total systemic failure.

    Others still look to an FDR/Keynes cover up as they acted to save capitalism, like we’ve seen with the constant printing of money. Sometimes wrongly seen as a victory for social justice, FDR-Keynesianism, But as capitalism now eats democracy, as Varoufakis has contended, fascism run by dictators has re-emerged as comfort to fools..

    Under this schema neither the climate nor human survival will be given prominence. Instead the quiet, moneyed, wickedly-great, madmen are empowered to seek a type of domination hitherto-fore housed in the recesses of such minds.

  2. The only question yet to be answered is whether a military-Keynesianism, as the American continue to trot out in Ukraine, has any ability to inject life into a dying and perverse capitalism., as was the case previously. We suggest not!

  3. @David, you speak in very sweeet terms with that mid-80s -90s conference consultant “bingo” speak : “a holistic plan” .
    But quite clearly as you also sweetly noted we will continue to go from “pillar to post” simply because that is the very essence of elective politics!

    I challenge you to identify any period since 1966 (or prior under Sir Grantley even) when our leaders did not STRIVE to implement their ‘wholistic’ or ‘holistic’ agendas or ‘manifestos’! That is never the problem.

    But this over wrought term ‘holistic’ engenders a complete sense of collective harmony with everyone working steadfastly towards the greater good — can we say ‘namaste’ and execute a wholesome ‘ooomp’ of togetherness, here!😎 …. NO, well that’s the problem, brother… we all together , never can be encouraged to execute that important step!

    I know you recall that a serious cadre of smart Bajans were not very ‘holistically’ embracing Barrow’s vision of independence and fought him from ‘pillar to post’ across the island and beyond arguing against it … so from then till now we can get into consultant speak mode with sweet sounding phrasing as much as we like but combative elective politics does NOT often allow much ‘holistic’ harmony … and it’s worst today, so unfortunately we will “continue to be divided on every important issue facing the country.”

    I gone.

  4. How many sign agreements have so far bear fruit for the masses
    Yesterday display of PRmessages and photo ops via agrofest laced with long speeches means nothing unless tones sets are lead by leadership with vision
    Surinam two years ago yesterday Guyana turn
    Where did Africa show up yesterday in agrofest as a means towards transformation and goodwill

  5. “The underlying truism is that capitalism has always been unstable, subject to collapse after collapse, on the road to a total systemic failure.”

    don’t follow any of them into Armageddon, is the best course of action…all their echo chamber repetitious orating, can’t fix any of this, just jump ship and watch them all sail away into oblivion…right where they belong..

  6. Barbados and the Philippines have decadence in common when it comes to electoral “democracy”

    In the case of Barbados this is manifested by two 30- loves in a row.

    In the case of The Philippines we have the farce of the son of the former brutal dictator Fernando Marcos and the daughter of last president Duterte, a gangster of some note, Sara Duterte, being elected as president and vice president respectively.

    In addition, Akino, who became president after Marcos had killed her husband, having her own “yellow shirt” children deep within the legislative apparatus.

    Yes, Amelda Marcos is back in the presidential palace with her tens of thousands of pairs of shoes.

    Democracy, first as comedy then as farce!

  7. No clear word on reopening, says Bynoe

    By Colville Mounsey colvillemounsey@nationnews. com

    More than a year after Government shut down operations at the St Thomas-based B’s Recycling, owner Paul Bynoe is crying out that his company is still in limbo while close to 50 per cent of his workforce has been placed on the breadline.
    “I can’t do any better. We have managed to retain some employees. I know that about ten have to go home. At one time we had over 100 employees and we are clearly under that mark, we are under that mark by a great margin, I don’t think we have 50 people there right now.
    “In terms of monies we lost, we have felt the pinch tremendously, but I don’t want to say just how much at this time. All I can do is leave it in God’s hands because it is out of my control, I have done all that I can,” Bynoe said.
    He questioned why Government would insist on keeping his metal recycling plant closed when it was responsible for exporting approximately 300 tons of metal per week out of Barbados. Bynoe said that after months of unfulfilled promises, including the possibility of relocating the business, he can’t help but feel as if he is being given the run around.
    “I have written to about ten or 12 ministries trying to find out what is going to be the next move. As far as I know they have pointed me back to the Ministry of the Environment. I contacted him [Minister Adrian Forde] and he told me that he is working on it and that was about two months ago. I am stuck at that point,” said Bynoe.
    He further lamented: “I am fed up in a lot of ways where this thing is concerned. We are talking about the livelihoods of people. At one time we could have cleared 200 to 300 tons of metal every week. We were told that we had to close down since last year and we are getting nowhere with this, even though I have done every single corrective measure that has been asked of me.”
    However, when contacted, Minister of Environment, National Beautification and the Blue and Green Economy Adrian Forde said he did not have the power to greenlight the reopening of the metal recycling plant. He said such a decision rest squarely in the hands of Minister of Home Affairs Wilfred Abrahams as well as Minister of Health and Wellness Ian Gooding-Edghill. Efforts to reach Abrahams yesterday proved futile.
    The facility had been the scene of a large fire in August of 2019 and an inspection in April last year discovered that once again it was filled to capacity, had a massive vector control problem and a high level of combustible materials.
    Abrahams reported then that Bynoe, the owner and operator, had agreed to immediately implement a short-term mitigation programme to reduce the probability of a serious fire starting and putting nearby residents at risk.
    He revealed at the time that a fire was still a real possibility, since there were combustibles like hydrocarbons present at the site. A further environmental assessment of the facility was to be conducted after 21 days in which Bynoe had to clean up. Government had also removed 554 metric tonnes of material from the site to decrease the probability of a serious fire and 264 old cars were identified for shipment overseas.
    Bynoe lamented that he had complied with all that had been required of him, stressing that he was losing money in the interim and employees were feeling the pinch.

    Source: Nation

  8. Other ways to stretch employees’ dollars
    I did not grow up with money; nor is it true to say I was poor.
    To the public my family appeared lower middle class, but behind the scenes it was a different picture.
    I can speak of eating rice and butter for dinner because we could not afford to buy meat. On several occasions I went to school without lunch or lunch money or even bus fare. It was not uncommon to have shoes or schoolbags with holes. No money was available for anything outside of bills and my parents struggled to find money for our school fees, books and uniforms.
    University was even harder. But we lived in a decent home, had at least one car and my parents had working class jobs.
    For a large part of my childhood my mother worked at an organisation that provided free and substantial daily cooked lunches for all its staff. This ensured each employee had at least one meal per day. On several occasions my mother brought home her lunch to feed us when our cupboards were bare. Her office also provided a room in which employees could place their children after collecting them from school or during the summer holidays. I spent many happy summers at my mother’s office in the company of children of other staff members. There was no one to supervise us, but the parents would check on us at intervals during the day. This small measure spared many employees the expense of paying for after-school or holiday care. The office also provided free transportation to and from certain locations.
    Expensive measures
    These were all noble and no doubt expensive measures undertaken by the organisation. However, I suspect they produced the corresponding benefits of being tax-deductible while also increasing employee satisfaction and productivity and having lower staff turnover.
    Recently, there has been much debate over the need for salary increases within the public sector, which Mr Dennis De Peiza of CTUSAB has suggested are long overdue and vital, given the significant increase in the cost of living. Similar calls have been made for salary increases in the private sector. When companies like Sagicor and Republic Bank report millions in profits for 2021 ($116 million and $391.6 million, respectively), I am led to believe that some companies can afford to and should increase employee salaries to cope with the rising costs.
    However, Government reported no such profits. Likewise, several private sector entities simply cannot afford to increase the wages bill at this time.
    In the absence of a wage increase, there are other steps an employer can take to allow an employee’s salary to stretch further. For instance, providing employees with a daily meal, or an inoffice gym or childcare accommodation, or transportation to or from certain locations to limit the number of buses an employee has to take to work, or any other similar amenities may prove cheaper than increasing the wages bill. Even one such initiative can reduce the monthly expenses of the employee to allow his salary to stretch further.
    Providing performance incentive payments which are payable annually can also prove mutually beneficial with no immediate impact on the monthly wages bill.
    I challenge employers to think outside the box to find ways to help their employees cope with the rising cost of living, even if a salary increase is not possible at this time. The provision of amenities or allowances can have tax benefits, along with the added benefits of staff retention and increased employee productivity.
    Finally, I was moved by some of the sentiments expressed by Anthony Branker, head of the Barbados Chamber of Commerce & Industry, at its 196th annual general meeting.
    He urged his colleagues to move away from a business strategy driven primarily by profit, and to “develop or support programmes where none of our children are at school hungry . . . and ensure that genuine cases of need can get sustained help.
    In many ways, this supports the sentiments I expressed in this article.
    I hope more businesses adopt this approach”.

    Michelle M. Russell is an attorney with a passion for employment law and labour matters, as well as being a social activist. Email:

    Source: Nation

  9. A new Bajan capitalism, recovery
    Head of the Barbados Chamber of Commerce & Industry, Anthony Branker, is reported to have this week made a statement which I hope does not go ignored or underappreciated.
    “The time has come where our business strategy in this small society can no longer be driven primarily by profit . . . . We must protect this society.” This is a most revolutionary statement – if not for its content, for where it is coming from.
    Regardless of race, religion or ethnicity, the Barbadian big business are inheritors of one of the most exploitative and degrading economic lineages known to man. Mathew Parker’s book The Sugar Barons talks about the British men and women who settled in the region and made immense profit out of Caribbean plantations.
    One reviewer says that typically, after extracting all that they could from man and land, these entrepreneurs would cast islands like Jamaica and Barbados aside “like a sucked orange in order to fritter their profits back home in England”.
    Protecting this society was far from their minds.
    These sugar barons came to be known in England as “the West Indians”. These West Indians of European descent were some of the most strident opponents of the abolitionist movement. They understood very well that their wealth was built and maintained from the exploitation of the African population. As the late Prime Minister of Trinidad and Tobago, Dr Eric Williams, and other scholars have shown, the development of capitalism is inseparable from and dependent on the enslavement and exploitation of black people. Barbadian capital has mostly only protected its profit margins. Even if at the expense of the rest of the society.
    So, Mr Branker’s revelation that the society must be protected, and that, “business strategy in this small society can no longer be driven primarily by profit” is timely.
    The COVID-19 saga has been what CNBC’s Jim Cramer calls, “one of the greatest wealth transfers in history”.
    He argues that it is the first time in the history of recessions that big businesses have come out virtually unscathed if not better than before.
    Ten per cent of the world’s population now owns 76 per cent of the world’s wealth. According to the World Inequality Report, global economic inequality
    rivals levels seen at the peak of Western imperialism in the early 20th century. Any sociologist will tell you that it is not necessarily poverty that causes social instability, but the size of the gap between the rich and the poor. How will big Barbadian businesses respond?
    Be innovative
    Anthony Branker is urging Barbados’ elite business class to be innovative. But the required innovation goes far beyond innovating products and services in service of the bottom line. What he is calling for is no less than an innovation in the nation’s mindset and approach to capitalism.
    While reaffirming his faith in capitalism and free markets, Branker it is clear that Barbados cannot sustain capitalist business as usual.
    The rise in crime, mental health challenges, and sense of hopelessness, as a result of a rising cost of living, will affect everyone’s quality of life.
    Barbados is too small for the wealthy to effectively hide from the fallout of massive inequality.
    The unfettered, sociopathic capitalism of “the West Indians” must be transformed by Bajans of the new republic. Enlightened capitalists, like Mr Branker seems to be, must realise that the foundation of any responsible business’ bottom line is a stable and secure society. We can no longer pretend that big-business capital is not rivalling politics in the running of societies. If they do not change the way they operate in Barbados they will run the blue, yellow and black to red.

    Adrian Green is a communications specialist. Email: Adriangreen14

    Source: Nation

  10. Adrian Greene

    Has become an idiot. A man whose sole purpose in life is to serve the dictator. What utter ignorance. This has not been the Adrian Greene we thought we knew. For he no longer possesses his right mind.

  11. Good articles from both contributors. I did read what Brancker said and I thought, “Signs and wonders!” A pity we’re a 2×3 island in the middle of the sea! Multinational corporations will never get that message.

    It is true that capitalism is seriously flawed. Never had much use for it.

    Will it collapse? How would I know? What will replace it? Will humankind have learnt lessons enough to forge a much better system?

    I would love to hope, but I don’t think we are there yet.

    I just read where the UN is asking us to do more for Haitians fleeing their country. I would love us to try to do SOMETHING, but what can we really do to make much of an impact?

    Why don’t they ask France to return the billions they extorted??? Why don’t they ask the USA to atone for the political chaos to which they contributed????

    Steupse and double steupse!

    This world system, if you study it, SUCKS!

  12. Question for our government –

    Why de rasshole you don’t help Mr. Bynoe to get his business in order. Do you wish to keep the reusable rubbish here until until we are buried under it?

    Next question –

    Does the scrap metal get paid for in useless “Mickey Mouse” dollars or in the foreign exchange which YOU say we need to earn? (Doan bother! We know the answer.)

    Uh nex’ nudder question –

    Does it please you to add to our unemployment figures????

    One las’ nex’ nudder question –

    Will you be taking care of the needs of those whom you have thus rendered unemployed, along with their families?

    Do someting, nuh!

  13. @Pacha
    It seems as if AG has taken a paragraph or two from you. It is true the he was very gentle in his description of Nicholas Brancker but he then tried to remedy this by commenting on the behavior of big businesses.

    I was somewhat surprised to run across an article in BU (by you), that mentioned the word soccer…

    TheO’s rating: A good article.
    For some reason, the author tries to straddle fence and have both of his feet on one side at the same time. This leaves readers somewhat confused. Mr Green is reminded that no man can serve two masters

  14. ” the development of capitalism is inseparable from and dependent on the enslavement and exploitation of black people. Barbadian capital has mostly only protected its profit margins. Even if at the expense of the rest of the society.”

    been warning Black people for YEARS…remove yourselves from this nasty slave system…

    .slavery capitalism will go nowhere unless YOU ABANDON IT….don’t mind all the bullshit talk from greedy crooks who only live to count piles of money earned dishonestly through exploitation of Black people…..renaming criminality does not mask intent..

  15. lessons and practices for growth never work until you already reached the point just before they happen and are ready for them to happen

  16. I don’t serve two masters. I just try to be practical and realistic. Ideals are great as a goal to keep in our vision but they seldom materialise. Until we reach the point where more people come to understand what life is really supposed to be about, I work within the system we have.

    Radicals scare off most people. They close their ears. Better to tone it down a notch and bring them along slowly.

    I suspect that Adrian has learnt to temper his “guillotine” talk. He probably still thinks it in his head.

  17. Drop in trading activity on BSE

    THE BARBADOS STOCK EXCHANGE (BSE), which currently has locally-listed shares worth $4.8 billion on its main market, has had a tough start to 2022 following a challenging 2021.
    Evidence of the BSE’s challenges, illustrated by declines in trading activity, are outlined in its Market Activity Report 2021 and First Quarter Market Activity Report.
    “A comparison of BSE first quarter 2022 activity versus that of the first quarter of 2021 would reveal that, despite reasonable improvements in the number of trades conducted by shareholders, market conditions continued to contract,” the BSE said in relation to its first quarter performance.
    The local stock exchange said that as it looked towards the second quarter, its outlook “continues to be uncertain and challenging”.
    “We will, however, continue to play our part in seeking out avenues to diversify the investment opportunities for the investing public – local, regional and international – while intensifying our efforts to educate prospective investors and local business owners on the benefits of being actively involved in the capital market in Barbados,” it said.
    The challenging time for the BSE was evident in its report that “overall trading volume and value decreased by 32 per cent and 40 per cent respectively for the first quarter of 2022”.
    “The Regular and Put-Through markets were the only markets experiencing activity. The former recording declines in terms of volume and value of 36 per cent and 42 per cent respectively while there was no comparative put-through trading activity during the first quarter of 2021,” the organisation said.
    133 trades conducted
    “There was no activity recorded on the Innovation and Growth or the Block Trade Markets. The total number of trades at the close of the first quarter of 2022 increased by 51 per cent as 133 trades were conducted across the board of the BSE.”
    It noted overall that while “year-to-date and year-onyear market measures were characterised primarily by declines, . . . the yearto- date index and market capitalisation measures did show some promise as the local and composite indices recorded marginal increases”.
    The BSE continued: “All Year-on-Year market measures recorded declines as larger issuers suffered price reductions over the 12 months. During the first quarter of 2022, Regular Market volume decreased by 36 per cent with a corresponding decline in value of 42 per cent when compared to activity
    in the corresponding period in 2021.”
    There were 133 trades during the first quarter of 2022, compared to 88 in the corresponding period in 2021.
    Goddard Enterprises Limited was the most actively traded security on the market accounting for 42 per cent of the number of trades occurring for the first quarter of 2022.
    It was followed by Eppley Caribbean Property Fund SCC – Development Fund and Insurance Corporation of Barbados Limited which accounted for 19 per cent and 11 per cent of the number of trades for the quarter in this market, respectively.
    “Goddard Enterprises Limited was the top performer in terms of volumes traded while Eppley Caribbean Property Fund SCC – Development Fund and Eppley Caribbean Property Fund SCC – Value Fund rounded out the top three volume performers,” the BSE said.
    “Goddard Enterprises Limited also took the top performer position in terms of values traded during the first quarter of 2022 with West India Biscuit Company Limited and Insurance Corporation of Barbados Limited taking the second and third best performer spots respectively.”
    Outside of equities, there was some activity in the fixed income market, which related to the trading of Government bonds.
    74 trades
    “As at March 31, 2022, there were two Government of Barbados bonds traded across the board of the Exchange as compared to one Government of Barbados bond trading on the Fixed Income Market for the first quarter of 2021,” the BSE said.
    “There were 74 trades occurring on the Fixed Income Market resulting in a face value of $1 870 757 trading. This as compared to 41 trades occurring resulting in a face value of $1 104 346 trading.”
    The BSE’s first quarter report followed the trend of declines evident in 2021. The organisation ended last year on an optimistic note.
    “As we look towards 2022, the BSE is hopeful to see improvements in overall trading activity. While ever cognisant of the ongoing macroeconomic shocks resulting from the pandemic, we are hopeful that as it transitions to an endemic phase, that would ultimately allow for improvements in the overall economic activity on island,” the organisation said in its 2021 market activity report.
    “We expect these improvements to have a spillover effect to the capital markets and our intention is to position ourselves to reap the rewards to be had at such time.”

    (Taken from this week’s BARBADOS BUSINESS AUTHORITY)

  18. In the interest of self preservation the BSE needs to exert more influence on encouraging companies to remain localised. BSE also should mount an education program on stocks and shares in economic and social development If companies continue to move off shore there is no need for a local stock exchange.
    What is our strategy for motivating local ownership? Spouting hot air on black empowerment and reparation? Putting unnecessary impediments in the paths of local entrepreneurs? It is the internal inconsistencies of these public statements that are at the root of our predicament. We talk without first reconsideration of the logical consequences. Ideas without a philosophical frame work.

  19. We do need to change the mindset from criticizing for criticizing sake. Criticizing is an intermediate stage not an objective. We criticize in order to build a better system One without the other are exercises in futility. That is why we bounce from pillar to post. Please.stop perpetuating the nonsense that GoB has to be the motivator to economic transformation . Individuals are beneficiaries and they must contribute , time ,money and effort. GoB is not an ATM.The source of funds is the citizen/taxpayers.

  20. Going to take a bit of VC’s post (not all) and treat it as my own.

    This is quite general and could have been posted at any time or many times.

    “We do need to change the mindset from criticizing for criticizing sake. Criticizing is an intermediate stage not an objective. We criticize in order to build a better system One without the other are exercises in futility. That is why we bounce from pillar to post.”

    Sometimes I poke instead of criticizing and that is because I try to anticipate what the reaction will be. I like doing this, but it is silly. Today, I will try to stop.

    We have a very intelligent group here. If we could put aside the personal attack we may do a little better.

  21. Wait! The Barbados “Stock Exchange” is still a thing?

    It is neither liquid enough, transparent enough, far less broad enough to be of much use.

    A whopping 133 trades in Q1 of which 3 names accounted for 62%?

    It is time to put the BSE out if it’s misery.

  22. @ Dullard at 12:26 PM

    No. It is time for a rescue. With all these glorious economic initiatives to West Africa and Guyana . , We can form companies and share the risks of these new ventures.

  23. I tend to agree with Dullard. 133 transactions for 3 months averages to about one per day. There are not too many businesses that can survive with such a low volume of traffic.

    I wonder how these brokers are making any money.

    It is quite possible that VC is giving the watered down version of Dullard’s statement. This may be a situation where working as a regional group trumps being standing alone.

    • Investment houses in Barbados list brokerage services on the BSE as complementary to existing services offered. There is trading cross border and other services undertaken not directly related to local trades. The BSE also serves as an electronic repository for others instruments. We should avoid being narrow in our critiques.

  24. @ Vincent

    A stock market is not needed to take advantage of business opportunities in Bim or anywhere else.

    It is not a panacea for entrepreneurship and ownership and is doomed to failure in an opaque and inefficient business climate like in Bdos. The BSE in its current form is simply not fit for purpose.

    There are more straightforward and effective ways to promote business ownership and capitalise the types of small enterprises that we have in Bim. companies.

    • A problem is not solved by closing the entity being identified. If the plan is to harmonize regional markets there is a role with time for the BSE or whatever it transforms to.

  25. If you say so boss. Good luck to yah.

    In the regional context the Jamaica market is pick of the lot followed by TT.
    That’s it.

    For harmonisation all that is really needed is a solid digital architecture.

    Put BSE of of it’s misery now!

  26. “We have a very intelligent group here.”

    Ramaphosa to appoint new team on black empowerment
    South African President Cyril Ramaphosa says he will appoint a council this week to advise on a broad-based economic empowerment programme for black people.

    He noted that while the empowerment programme that has been ongoing for 20 years has been significant, there has been “inadequate progress” in some areas.

    “We have gone backwards when it comes to increasing black management control, upscaling skills development, entrenching enterprise development and broadening procurement to give opportunities to black women and the youth,” he said in his weekly letter to South Africans,.

    He noted that at the end of the apartheid regime in 1994, black ownership of companies listed at the Johannesburg Stock Exchange “was less than 1%.”

    “This figure has not improved much in the past 28 years,” he said.

    He said more work was needed to address the challenges that businesses owned by black people face, including getting capital to start and expand their businesses, as well as finding markets for their products.

    He also cited the challenges that black women especially encounter in taking on large-scale transactions.

    “The continued exclusion of the black majority from the economy’s mainstream constrains economic growth, which ultimately impacts all.

    Source: BBC, 30/05/2022

  27. First trading in shares in City of London coffee shops was for slavery.
    But, check out BBC (UK cunts) talking about Wall Street instead.
    And, USA was an English Settlement (Jamestown 1607) hence English Language usage

    from pillar to post
    from one place to another in an unceremonious or fruitless manner.
    ‘they were pushed from pillar to post from the moment they left their homes’

  28. Dullard

    You’re quite right. BSE was never a real market.
    But we will prefer to fool ourselves instead of recognizing what is real and what is not.
    Has BSE not had what, nearly 40 years to establish itself.
    And if the distinctly Bajan companies which formed the backbone of economy are now owned by Trinidadian or Jamaican capital, why would we continue to seek a fool’s errand pretending local capital formation when the action is elsewhere.

  29. But there a colossal opportunity.

    The Chinese have savings of about 35 trillion which they can’t invest safely internationally, If Barbados has a mind to help them construct an alternative financial architecture, unencumbered by the ability of the Americans to steal their wealth, there is a massive opportunity for the any country so positioned. 😎

  30. The charges for trading are egregious.
    Int’l investors want dividends in an int’l currency.
    The BSE needs to be folded into a Regional Exchange

    • @NO

      What regional exchange?

      Is a regional stick exchange achieved because of low trade volumes at BSE?

  31. All of JA, Guyana and T&T exchanges can benefit from wider exposure and decreased costs of a single exchange. The BSE tags along.

    • @NO

      This is the point, regional exchanges are built on a vision (lack of) a working common market (CSME?).

  32. Heavenly Circuits
    Ital is Vital
    There is a global market for growth that the Caribbean specialise in.
    I will not say what it is as it is more Underground than Barbados Underground.

    The Ritual

    Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Nigga what? I’m complicated down to my strut Like the way I hold my gat flat on its side like a pug And I’m tickling the trigger make it laugh from its gut You would think I’m a comedian the way it erupts Nigga what? I represent the ashes and dust All that’s sittin’ up in ya chin that’s got ya stuck in a rut You can fire, hold your fire, son, I’m smokin’ you up You can whistle your desires even Buddha got snuffed Nigga now I’m standing on the corner of wow Exclamations pointed at me ’cause I’m gettin’ these nouns Got these kids inventing adjectives and gaining renown ’cause I am nigga, I am Nigga please, the earth, the air, the fire and the seas Third dimension, fourth dimension, fifth dimension with ease Oh, the chicken never thought I’ve got ya smokin’ them trees Ask your front door what my sawed off got you snortin’ them keys Nigga what? But I ain’t gonna knock open up When it’s time to meet your maker ain’t no changing the plot You’re an actor in the series nigga, I own the lot And I’m here to serve these royalties like gold in a pot Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Callin’ haves and have nots Hey, ain’t no need to stop that Hey, ain’t no need to stop that Hey, ain’t no need to stop that Hey, ain’t no need God and pussy, objects of desire And ill repute some rather seek up high Than dig and grind that inner truth The angel of my eye A bit too fly to substitute With any other form than the Messiah’s black Mariah Mothership, grandmother moon and sea The wave and form of beauty born of Eden’s apple tree And every single Adam stands erect and prays to be The follower she offers sweet communion, holy union Let me see you run it just like that Move your hips from side to side Come forward, push it back Let me know firsthand the land of glory that I lack I surrender all to you if you surrender back Holy God where’d you learn to squeeze it tight and then Move it slow enough for me to question everything? You slowly start to tremble heaven’s walls begin to sing Tsunami ever after cosmic slop on everything Hey, ain’t no need to stop that Hey, ain’t no need to stop that Bitch nigga, gun trigger, dick’s bigger, why fuck? (Ain’t no need to stop that) Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace Bitch nigga, gun trigger, dick’s bigger, why fuck? Killer, blood spiller, bitch, steal a Mac truck Bad luck fuckin’ with this black buck Bigger Thomas I promise, leave a corpse in the furnace

  33. One may position it however one wants, for the listing companies it is wider coverage, and hopefully decreased costs. As many learnt post the Massy exit from the BSE, the T&TSE is no pleasure to deal with.
    And yes there is the issue of multiple currencies.
    90% of the listed firms deal with that already.

  34. The short answer is nowhere for now.
    GEL for example, has no interest in moving. As long as the old guard lives, and runs the show, they are happy with the status quo. It makes it difficult for foreign inheritors to unload the shares?
    Twice in recent times they have repurchased large blocks as they came available. This is a form of ‘poison pill’.
    None of the regional SE’s really perform the function of “raising funds”, again this sits well with ‘existing listers’.
    For many are tightly held, and they are more concerned about control and dividends than share price. You saw what happened with BHL once the cat was outta the bag. It tripled in value.

  35. “You’re quite right. BSE was never a real market.
    But we will prefer to fool ourselves instead of recognizing what is real and what is not.”

    who in their right minds would invest their money with any of the small time crooks controlling these small entities,…there is a BIG WORLD OUT THERE….trap yaself on a tiny insular island with your investment, with a bunch of thieves at the head…. and you will GO NOWHERE..

  36. David Bu
    Stock exchanges raise new capital in its promotion and management of initial public offering of new shares for a new company. IPOs spread risks among hundreds of investors instead of one or two private investors. This is how risk averse small savers are encouraged to invest and take risks. Stock exchanges increase the liquidity of stocks and shares by providing the market for trading.. So the investor can cash in shares and bonds if there is an urgent need for cash. These are the roles which BSE should promote instead of the number of trades per day.
    Fit for purpose means a BSE that serves a local ownership strategy of local private sector entities.

  37. @ David Bu
    All things are realizeable if participants want to nurture them to reality. As usual the mixed messages are confusing the fundamental issues. Do you want to maintain and grow local ownership of companies within our geographical space? Or do you want us to lose ownership so that some commenters can have orgasmic experiences through daily complaining ,venting and ranting.

    • @Vincent

      What you want is possible in theory, the way local financial markets are ‘controlled’ by a few creates a challenge.

  38. @ David Bu at 9 :39 AM
    Who are these oligopolies that control the local financial markets? What are these challenges that prevent free access and exits to all?
    Most of my working life was spent applying theories and models to the real world. Why are you separating them? That is what scientific progress is about. No wonder when there are sea changes commenters behave like a dear caught in the glare of the headlights of an oncoming motor vehicle.

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