Barbados’ Fintech Push

This week Barbados will the host of a global fintech conference called Fintech Islands from October 5 to 7 welcoming 300 delegates from across the world and attracting sponsorship from prominent global players like Visa, MasterCard and Delta Capital Group. The government must be given credit for being the enabler by placing emphasis on the emerging fintech sector.  Some of the initiatives the Mottley government has spearheaded include:

  • Rollout of the Regulatory sandbox in late 2019 which BU commenters will recall generated raucous discussion. 

The government has also moved quickly towards digitisation by executing the IDB Public Sector Digitisation Project which is being rolled out across all ministries at the back end, at the “front end” the rolling of the new National ID card which will have an accompanying optional Digital ID. The government must however do a better job communicating with the public about the New National ID card.   

A government’s job is to create the environment, legislative and otherwise to encourage private sector to drive economic activity. There is consensus our over-reliance on fickle tourism as a SIDs makes the economy more vulnerable to exogenous shocks. The 2007 global financial meltdown and recent experience arising from the pandemic is a sorry reminder. In 2016 late Prime Minister warned of the need for policymakers to introduce radical measures to add new earning sectors to the economy, instead the Central Bank was repurposed to be government’s ATM and as they say the rest is history after incurring 23 downgrades.

We live in a world that has transformed to digital cum services era, building new sectors to drive economic activity is not only about building physical factories. Rolling out fit for purpose regulation and other initiatives to improve business facilitation is the new alternative.

Barbados has built a reputation as an offshore financial hub, however, since the mid 2000s as Arthur mentioned in the above video, Barbados lost a lot of business to Cayman and has never fully recovered. It was one of the problems which plagued the Stuart government and as Arthur pointed out – from 2016 the country lost $259 million in foreign exchange and tax revenue which the then government sought to replace by imposing heavy domestic taxes on a shrinking economy and taxbase.  

One of the things the Mottley government seems to be trying to do is to reconfigure the business sector from which Barbados can offer modern services to replace the old tax haven model. The OECD has shown they have no problem shifting the rules of engagement ‘during the game’. It must be helpful that Barbados also added to its brand in the fintech space by being first to market with the Barbados Welcome Stamp program which allowed high net worth professionals many from the fintech world to work remotely during the pandemic.  

Quietly the Ghanaian fintech company Zeepay has setup in Barbados with plans to launch in Guyana next. Some have been asking are we there yet? This is a rhetorical question.

186 thoughts on “Barbados’ Fintech Push


  1. “Truly, I thought this was a ‘breaking’ story. But even if the test was done on Monday, a thorough analysis and a sound report should take a few working days.”

    results are automated


  2. Were i supporters i would be ashamed, but that may be asking for too much..

    look what they voted for….

    the good news….the PEOPLE GOT THIS…

    watch dem nuh!!!


  3. The chasers are at it again. The St.Lawrence Gap spaghetti fell quickly as all before and once again they were left empty handed.


  4. @enuff
    I was late to this story, but it seems as if you still back there at St Lawrence Gap. You are even more behind than I am.

    What a strange thing, the man who is last claiming to be leading the pack.


  5. wait…wunna still running around trying to put the St. Lawrence Gap fire……you really think the people won’t do something about yall AND THAT…..just hold on and WATCH…

    now ya got a full on BLAZING INFERNO…that ya can’t get put out, that ya can;t run out and cover up with yet another lying press conference…

    i would much prefer not be wunna at this time..

    ..wuh look how the tables COULD UP AND TURN….MURDAHHH!!!

    and somehow, given certain narratives ah doan tink it will stop turning anytime soon…


  6. yall can let ya local copycat FRAUDS lure into this FAKE BULLSHIT……a new world order of OLD FRAUD..

    mama and papa was around before these newbies came on our earth..

    birthing parent COME HERE….goddamn QUACKS…

    haven’t seen TLSN lately but am sure he is taking it in.

    “Use ‘birthing parent’ not mum and dad, inclusivity guide tells councils
    India McTaggart – 9h ago
    312 Comments
    Councils have been ordered to stop referring to “mum and dad” or the “homeless” in a new “inclusive” language guide branded as “woke and patronising”.

    © Provided by The Telegraph
    The Inclusive Language Guide, published by the Local Government Association (LGA) on Wednesday, tells councils to “avoid” using the phrases ladies and gentlemen, expat, deprived neighbourhoods, second generation, lifestyle choice or economic migrant.

    Instead, the LGA encourages the use of “positive language” such as birthing parent, same-sex relationship/family, partners, non-UK nationals and people experiencing disadvantage or poverty.

    The 18-page document contains 12 principles for councils to follow, which The Telegraph understands are not binding, that include “respecting people from marginalised and minoritised backgrounds” and recognising that “intention does not always align with impact”.

    Mark Lloyd CBE, the chief executive of the LGA, emailed the new rules to all councils in England and Wales, but not everyone received it well.”


  7. But surely generating a good report will take some time.

    When is de Ministry of Ed holding de press conference. We need an apology


  8. Theo…”a parent confirms “test” was administered late last term..”.

    “what is the END GAME of the IDB and MOE?”

    it’s being called “comprehensive sexuality education.”…that has NOTHING WHATSOEVER to do with a test for computer science….

    tek dah……..cahn cover it up…a lot of you want DRAGGING off the island in handcuffs…


  9. “Ex-Government Minister Donville Inniss has lost an appeal to overturn a U.S. conviction for laundering bribes connected to insurance contracts through a New York business.

    The U.S. Court of Appeals for the Second Circuit on Wednesday rejected arguments from Inniss, against his 2020 conviction on three money-laundering-related counts for moving bribe money through the bank account of his friend’s dental business.”

    this one don’t know when to stop…..he is soon going on parole, keep quiet and pay for what ya did……ok…..NEXT grand jury indictment…..don’t stop now…

    “The Foreign Corrupt Practices Act, which criminalizes foreign bribery, doesn’t permit prosecutors to charge foreign officials, but in recent years the U.S. Justice Department has used money-laundering laws to target corrupt foreign officials who move their money through the U.S.

    Inniss is incarcerated in a prison outside Detroit and scheduled to be released in January, according to Federal Bureau of Prisons records. (WSJ)”


  10. time to TAKE A STAND AS REAL MEN AND WOMEN..

    however, some president of the principal’s association or whatever is still in SLAVE MODE…and accepting shit…since it was the principal’s of the 3 schools job to ALERT THE PARENTS and tell them to ASSERT THEIR RIGHTS…not allow them to walk into a trap unknowingly..

    i won’t trust another principal who did not…..traitors……

    “The Inter-American Development Bank’s (IDB) apology for its controversial survey administered to schoolchildren will not be enough to satisfy the Barbados Union of Teachers (BUT).

    President of the BUT Rudy Lovell said that it’s not for the IDB to issue a statement on the matter but the Ministry of Education, Technological and Vocational Training.

    The survey, part of the Code Caribbean project was administered by a United States-based organisation code.org which promotes the learning of computer science in schools. It was given to first formers on Monday at three secondary schools, which parents said contained inappropriate and invasive questions. It asked questions such as: Do you think about sex a lot? Do you purposely try to harm yourself? Do you think about killing yourself? and Do you do drugs?

    Lovell is of the view that “IDB is not responsible for education in Barbados, so essentially that apology would not suffice.”


  11. well…the TOTAL agenda is also EXPOSED…

    don’t know why i always feel, not disappointed, cause ya know who and what ya dealing with…but more like better can be done, but DELIBERATELY NOT..

    i have ABSOLUTELY NO RESPECT for a government that would allow anything remotely DESTRUCTIVE to visit the island’s Afrikan children and their parents……in exchange for millions of dollars when they had the opportunity over the DECADES to better utilize the AFRIKAN POPULATION’S BILLIONS for the people and not for themselves and their corrupt friends……….but evabody used EVERY OPPORTUNITY TO TIEF IT………while knowing that said politicians reside PERMANENTLY in Beggar’s Alley…

    now yall will NEVER GET AWAY with ANYTHING AGAIN…and EVERYONE except ya fowls, pimps, imps and slaves will make absolutely sure of that….so tell ya masters ya give up….because people WILL NOT…


  12. Baje
    What has any of them done for Bim in the last 4 years? You don’t have to look very far to come up with nothing. We are on the brink in this country and everything that has a nice ring and a bit of shine attracting these folks like magpies.

    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    I AM NOT ONE OF THE ONES DRINKING THE JIM JONES KOOLAID OR A BLIND TRUMP FOLLOWER LIKE THE MANY WHO DO SO ON THE 2 X3 ISLAND AS IF BEHAVING THEY DONT HAVE THE BRAIN CAPACITY TO THINK FOR THEMSELVES THROUGH ALL THE SMOKE AND MIRRORS.


  13. Meanwhile children at 6 and 7 are being taught things we’re traumatised about teaching our 11yr olds. Mind you, we can’t hold a match to those countries.


  14. Hants…don’t mind that shite….the AGENDA IS STILL IN PLACE….they are just trying to placate the parents….but NOTHING CHANGES….

    they already SOLD OUT…

    it’s the parents who now have to make sure their children do not fall prey to the agenda…these stinking politicians already signed away the people’s rights…and must keep up their end of the bargain…..

    but the parents DO NOT HAVE TO ACCEPT ANYTHING….

    there is evidence circulating everywhere that cannot be refuted.


  15. I think the response of the Min Of Ed was the correct one. It is regaining my trust.

    The Min of Ed needs also to promise (1) that if data are collected from children, they will be anonymized in the created database.
    (2) teachers are masters of the classroom. You can bring in people to ‘supervise’ an event but a teacher is always present, is the boss, and must review any material that will be given to the children.

    Remember: If it can’t happen there it can’t happen here.

    –x–
    Because data are in a database does not mean it has to stay there forever. Files can be deleted.


  16. When it comes to children our leaders must lead and protect. Playing catch-up and apologizing must be the last resort.

    It is clear that Min of Ed dropped the ball here. Not only must policy be revamped but a head must roll.


  17. and as long as i have to do more work than i normally have every day…….i gine make wunna SHITE…cause all of this could have been avoided.


  18. @enuff
    You doa good imitation of a bot.
    Spout some random phrase and disappear
    –x–
    If the sky fell it would cover the earth.


  19. ” haven’t seen TLSN lately but am sure he is taking it in.”

    I have been busy. Travelling and doing a lot of driving. I had noticed a few days ago that you had mentioned some unravelling scandal: which would turn out to be a disturbing survey linked to the Inter-American Development Banks. Rather foolishly, I dismissed it, prompted by certain BU commentators who have dismissed you as a liar. I was unduly influenced by their cynical natures.

    May, I express my dismay and horror at this truly shocking story which I would describe as a form of grooming. It is plain that this survey was nefarious and may have been an attempt to create a platform for child sexual exploitation in Barbados That our government had knowledge of this survey and did nothing to prevent it, is inconceivable.

    There are a few simple lessons that we can learn from this scandal. Firstly, beware of foreigners bearing gifts, they are trojan horses on a mission to systematically destroy the futures of Barbados majority black population. Secondly, our government is an active agent in its unbridled enthusiasm to decimate its own black majority population. Thirdly, the black majority population has to recognise that they all share a common enemy: their government. And fourthly, Waru has always explicitly exposed the malicious nature of those groups who have rendered black Barbadians as third-class citizens. When will the doubting Thomas’s on BU take a breather.

    Beware the trojan horse:

    https://www.aljazeera.com/economy/2022/10/6/india-probes-deaths-in-gambia-linked-to-indian-made-cough-syrup


  20. Theo….bottomline, don’t get tIed up, they NEVER EXPECTED to get caught and exposed…they got away with this last term because neither the children or parents understood the DANGEROUS SITUATION….these clowns placed them in until now……

    .and of course with all the evil shite these generational sellouts got away with in the last 100 years they thought this term would be SMOOTH SAILING….with a nice breeze, not the Cat 5 now bearing down on their judas backsides…

    .they are only sorry they got CAUGHT…

    they got nuff to be sorry for and better get USED TO IT…


  21. what am glad to see is that ALL OF THESE FRAUDS and LIARS on here boasted that they voted for this government…..always defending them and cussing us too…………now everyone knows WHAT THEY VOTED FOR……and as i have said multiple times on here…..NONE OF THEM CAN BE TRUSTED…

    they too are the enemies of Afrikan people.


  22. It must be difficult supporting GoRoB and watching everything that they touch turn into a disaster.

    Why does this happen?

    If you look carefully, you will see that every initiative (good or bad) is part of a scam. They start badly and so it ends badly.

    What is disgusting is the GoRoB will prey on everyone. You think that kids would be protected, but GoRoB is willing to sell them out to a high bidder.

    Now we must sit and figure out what scam is attached to any loan, gift or initiative by GoRoB.

    (Insert conspiracy theory here)
    May the Good Lord help us if there is one high level crook on the IMF staff.

    Amusingly, all apologists are almost silent. There is one brave fellow who utters some rubbish and then disappear. When Lorenzo becomes the chief defender you know they are in trouble.


  23. Did you notice the apologist are failing, falling and fainting.

    I have more bad news for them. Time is not their side, if they continue scheming, stealing and scamming.

    It is a nation, stupid. Not a personal piggy bank to manipulate as you feel like.
    —x—

    Today I had to come off the fence.
    You should notice that I landed on the people’s side of the fence. Those looking through party lenses may see it differently.


  24. Last lesson boys and girls..

    If you don’t do shite, I will not have shite to write.

    Have a good night y’all.


  25. “Because of the repetitive nature of some commenters. On an on …”

    Perhaps the issue is not repetitive bloggers, but repetitive screw-ups by GoRoB.

    Run your tricks and take your licks. Put on a good clean show and the peanut gallery is silenced.


    • Why some of you don’t make your comments and desist from ascribing motives to commenters? It is sickening.


  26. William….if you are reading….this is the ORGANIZATION PHASE…….as a collective unit….the people already know that……

    am sure you are now up-to-date….more to come….PEACE..

    however, after years of negative experiences we know that nothing that is useful or sabotage friendly can be posted to any political government blog….going forward.

    this is now all about self-preservation, self-protection, survival for Afrikan-minded people and their children….the protection phase. finally, weeeee have waited for this for a very long time….

    LESS is MORE..


  27. The tag teamsters can only attempt attack me, NOT what I say. In so doing, they repeatedly celebrate and promote lies and liars. After all these years, not one of them has been able to refute the things I write on BU. I am but one, yet continue to win in 1,2,3.


  28. Theo

    Sir, you interpret it as random because you clearly either lack the aptitude to understand or are disingenuous. In any event, you prefer lies and liars and are beholden to the liars.


  29. @ WURA
    Once the partisan clowns start to comment , I just read and lol.
    Ignore and dismiss.
    Business as usual.
    More to come.
    Peace.


    • The blogmaster notes with interest former principal Jeff Brooke’s currently letting on this issue agrees with the blogmaster’s position stated.


  30. “Once the partisan clowns start to comment , I just read and lol.”

    they are indeed clown material….was out and about earlier and heard their slaves, fowls, imps and pimps running lies on the public…one was soundly put in its place by the group and had to SLINK AWAY IN SHAME.

    ..intelligent people would never enable that group of FRAUDS….


  31. It could and should have been done differently. However, I don’t see anything wrong with the questions I have heard and seen so far.


  32. Surprisingly, it would be fair to say that most see that there was a problem with the survey itself and how it was conducted.

    Differences seem to be personal and not related to the topic.


  33. Theo….there are voice notes going around from parents a couple days now, they are the ones to take instructions from not some perv fowl…


  34. @ Enuff
    However, I don’t see anything wrong with the questions I have heard and seen so far.
    ~~~~~~~~~~~~~~~~~~~~~~
    LOL
    Well your supreme leader has spoken now, so you no longer need to strain at the gnat….
    Your thinking has been done for you.
    Ha ha


  35. Increasing role of digital currencies
    Central bank digital currencies and financial technology companies stand to play a critical role in serving citizens who do not have access to the banking system while facilitating cross border payments.
    This is the view of Sharmyn Powell, chief risk officer with the Eastern Caribbean Central Bank (ECCB).
    In contributing Thursday to the Caribbean Economic Forum and its topic, Moving To Digital Payments: What Does It Mean For Me, Powell said “central banks are recognising the importance of central bank digital currencies as the world moves to digital transformation.”
    “So what I think will happen eventually is that similarly how central banks interoperate with each other via the Swift network for payment settlements, ultimately central bank digital currencies will become critical in that cross border flow as well,” she added.
    Powell intimated that a key objective of the Eastern Caribbean Central Bank’s digital currency, DCash, was to provide services to unbanked and under-banked citizens in the Organisation of Eastern Caribbean States (OECS).
    The Caribbean Economic Forum online panel discussion, organised by the Central Bank of Barbados (CBB), was the last in the series for
    2022.
    Although it is unclear how many Barbadians do not have access to a bank account, John Outridge, chief executive officer of the International Finance Corporation in Trinidad and Tobago, said there were approximately 240 000 people who were unbanked and 140 000 who were under-banked.
    Outridge explained unbanked people were those who have zero relations with a financial institution while under-banked individuals have limited relationships.
    Banking access
    In a February 2020 presentation, Central Bank of Barbados Governor Cleviston Haynes said there was widespread access to banking in Barbados but indicated small and medium-sized enterprises required access to credit to grow their businesses.
    “One of our main objectives behind DCash is financial inclusion,” Powell said. “And that is to make sure every citizen of the ECCU (Eastern Caribbean Currency Union) has an opportunity to participate in digital transactions,” the chief credit officer said.
    The OECS is an 11-member Eastern Caribbean grouping with a common currency.
    With DCash, even if an OECS resident does not have a bank account they would still have access
    to services such as payment of bills, purchases at the supermarket and the capability to send the digital currency to friends and family within the OECS grouping.
    Powell said four years ago 20 per cent of the world was exploring central bank digital currencies but the figure had increased to 80 per cent today.
    She said it was important for governments and other stakeholders to start conversations early on matters such as interoperability.
    He added this had started with more working groups among central banks and in various regions.
    Outridge said India and the Caribbean have similar challenges, including a large unbanked population.
    He said India was developing a United Payment Infrastructure where large FinTech companies were plugging into the state and Central Bank as a merchant and customer to facilitate payments.
    Outridge noted that in the Caribbean, FinTech companies had also grown with one in almost every country.
    (HH)

    Source: Nation


  36. Plans to develop mobile wallet partnership
    A regional payment service provider is spearheading the linkages of seven mobile wallet organisations.
    Chief executive officer of WiPay Caribbean Aldwyn Wayne said the seven organisations were entering a memorandum of understanding they were calling the Treaty of Bridgetown.
    “The purpose is to try and create a single network to move funds more easily between regulated e-wallet companies. We intend to set up a steering committee then create a directorship for that network. So sometime around Christmas we should have the management directives in place,” he said.
    Wayne admitted it would not be an easy process as there were multiple central banks which had to feel comfortable with the move as well as regulators to satisfy but he said the goal was one which was worth the effort.
    He said the countries involved were Trinidad, Barbados, Curaçao, Jamaica and Haiti, with two organisations in both Jamaica and Barbados.
    Wayne was speaking to the media on Thursday during the Fintech Islands conference at Hilton Barbados. Co-founder and chief technical officer of Fintech Curt Persaud said the idea of bringing together so many e-wallet companies was just what the conference was all about.
    “We have to change the mindset where it’s not always about competition but about how to best serve our customers. This is a major announcement and we’re super excited,” he said.
    Managing director of Ansa Merchant Bank Gregory Hill announced the launch of their digital banking app. He said too many people were underbanked and the hope was to “cross that divide” and offer inclusive products and services.
    “We will design products and services catered to each potential type of banking customer. Global standard rules don’t work for all . . . we will need to adjust the rules and regulations to adjust to the needs of each customer. Essentially we want to build a Caribbean ecosystem. I can see the Caribbean coming together to form one big banking market where we can move products and services across the board.
    “I can also see space for fintech companies to immerse themselves in the region and create entrepreneurship that will integrate with the established market architecture. This will certainly allow for more inclusive way to provide products and services that are more affordable. There are far too many members of the public in the islands under served by banks . . . and it is our responsibility as financial institutions born and bred in the Caribbean to be able to step up
    and fill that void and help our people have access to financial services,” he said.
    (CA)

    Source: Nation


  37. How do we assess the success of this Fintech conference.

    Were there benchmarks that had to be met?

    Will there be a white paper or some summary document or do I have to browse the bits and pieces in different news media?

    Was great publicity, but are there any other benefits for the island?

    School me.


  38. @TheO
    As pointed out early in comments on this thread
    “three enterprising diaspora-based Barbadians – Allison Hunte, Peter Stoute-King and Curt Persaud – formulated the vision of hosting a world-class fintech event in the Caribbean drawing influential speakers and attendees from across the world. Their team was rounded out by senior advisors William ‘Billy’ Griffith and Andrew Morris.”
    This info came via Alicia Nicholls. (She authored several threads on BU)
    Hence, while they may have had Government ‘assistance’, I was of the ‘belief’ this was not a GoB event, but a private sector one.
    Hence don’t expect any report for public consumption.


  39. Arise, aspire, achieve!
    Bajan Fintech expert tells how intellect changed his world
    By Gercine Carter gercinecarter@nationnews.com
    His childhood was spent living in homes in two Government housing estates.
    However, Peter Stoute-King never allowed any of the negatives commonly associated with the “housing area” to obscure his dream of making something of his own life.
    He is not ashamed to say that he is “the product of two Government housing areas . . . . My mum was in Wotton and my dad was in Deacons Farm (where he was born).” But the former student of Wilkie Cumberbatch Primary School and Harrison College never lost sight of his vision of one day being in the financial sector.
    Last week, hundreds of business people from around the globe, among them several entrepreneurs, descended on Barbados for the inaugural Fintech Islands Conference, the brainchild of three United States-based Barbadian entrepreneurs. Just over a year ago Stoute-King founded FinCap Global LLC in Miami, together with Allison Hunte and Curt Persaud in Miami. They organised the Barbados conference, thereby exposing Barbadians to the world of opportunities which the fintech (financial technology) industry offers, and the visiting conference participants to Barbados’ possibilities.
    The event was part of a dream come through for Stoute-King who said: “From a young age I knew I was always going to be involved in business. I was always intrigued about investing – taking money, investing it and generating some returns.”
    What was the driving factor in opting for the path he chose? With a chuckle, he replied: “kind of being poor . . . . When you come up in the type of environments that I came up in, you aspire to do and accomplish more. I had a modicum of intelligence and I wanted to use that to change the financial circumstances in my family.”
    Never taking his eye off the prize, Stoute-King got a job at the former Barbados National Bank after graduating from Harrison College and later moved on to the accounting firm DeLoitte “to earn enough money to go to college”.
    It gave him the start he needed, enabling his move to the United States to go to college. He earned
    his first degree, a Bachelor’s in economics and international finance at City University of New York (CUNY). After the first semester, he won a couple scholarships that enabled him to support his undergraduate studies, among them the Belle Zeller Scholarship, the most prestigious scholarship across CUNY.
    An internship secured with Goldman Sachs, a leading New York-based global investment banking, securities and investment management firm while pursuing undergraduate studies, was the door to the vast world of finance, into which he was able to put his toe. After leaving university he worked as an investment banker with Goldman Sachs in New York for five years before moving on to Citi (another American multinational investment bank and financial services corporation headquartered in New York City) in London to work in the same capacity.
    From London, a job with the Inter-American Development Bank (IDB) brought him back to the Caribbean. During a three-year stint at the IDB’s office in Trinidad and Tobago, he set up a private sector lending practice across the region. As he explained, up to that time the IDB had done mainly “sovereign guarantee operations” (lending to governments). His assignment however, involved the new policy of lending to private sector clients.
    “My responsibility was to build that business out of Trinidad and my remit extended from Guyana and Suriname in the South, all the way up to Jamaica and the Bahamas in the north.”
    Stoute-King’s resume is impressive, reflecting his growth and development in the world of finance. Along the path to success, he obtained a Master’s degree in International Finance and Business from New York’s Columbia University and had the advantage of wide exposure in the field.
    Fintech, a relatively new player in the international financial landscape, has been described as the acronym for “the new technology that seeks to improve and automate the delivery and use of financial services.
    “At its core, fintech is used to help companies, business owners and consumers better manage their financial operations, processes and lives, utilising specialised software and algorithms that are used on computers and increasingly, smart phones,” Stoute-King explained.
    Two years ago, as a Global Leadership Fellow with the World Economic Forum in Geneva, Switzerland, he got the opportunity to engage senior leaders
    from the financial services sector globally, “talking to them about what we were seeing as the major trends that were impacting the financial services architecture and a lot of it driven by the disruption that we were seeing as a result of an emergence of fintech companies – young, smaller, leaner, more nimble companies leveraging technology to chip away at the dominant position that a lot of the larger bulge bracket investment banks and other financial services firms had.”
    He was fortunate to have been among the 20 000 to 25 000 of the more than 60 000 applicants from around the world who were successful in gaining entry to the Global Leadership Fellow programme, which is considered as a finishing school for people identified as potential global leaders.
    “I got involved in fintech about ten years ago and I have been spending a lot of time over the past decade consulting with large organisations with regards to their innovation pathway, but also working with fintech companies to help them to grow in scale or as an investor and advisor as well,” Stoute-King said.
    His role in the Barbados conference was “primarily to attract the speakers for the event and to get the partners on board; selecting what we were
    going to do, working with the programme lead on the agenda; also the general outreach to people across the fintech and financial services communities inside and outside of the Caribbean to attend the event.
    “I have been in the fintech space for over a decade, my network is pretty broad in terms of covering every region of the world and I was able to tap into my network to get quite a few people to come down.”
    Speaking about the relevance of financial technology to Barbados, Stoute-King said: “I think it is an opportunity that we need to take advantage of. It could be another growth pole for the island. The banking system has not been tremendously innovative over the last ten, 20 years or so, but there is a real opportunity now for a host of companies to be created that deliver products and solutions to people that are fit for purpose.
    “Fintech allows them to save, invest, spend, pay and borrow a whole lot easier and just generate a whole
    lot more economic activity as a result, bringing folks into the formal sector that are not currently in the formal sector; better serving small and micro enterprises and helping them to optimise their business and to be able to operate a lot more efficiently and robustly and in so doing, create greater economic activity.”
    The Barbadian’s message to young boys like himself, growing up in the kind of circumstances which he did, is: “With ambition I think anything in life is possible once you are ready to put in the work.”
    “I think we are to some extent a product of our ambitions, not our environment, though our environment does colour our ambition and I firmly believe if you can dream it, if you can think it, you can make it happen.”

    Source: Nation


  40. Let me state that I like this article by Gercine Carter.

    Any young woman/man can look at the route taken by Peter Stoute-King and use it as a model to a career path.
    The plus side of this approach is that once the get started on the path, they will become more aware of different avenues to explore.


  41. Hope for the future.

    “The Ministry’s Farmers’ Empowerment and Enfranchisement Drive (FEED) Programme, executed by the Barbados Agricultural Development and Marketing Corporation (BADMC) continues to attract interest, with some 351 participants registered in the last cohort in August 2022. Further, the Programme has seen increased crop-planting at Mt. Poyer, Wakefield Plantation and Bath Plantation. I am particularly pleased that lands at Spencer’s Plantation are being brought back into production.”


  42. Was looking for somewhere to place this.
    I was looking at after mentioning a ‘fintech push’ all of the players fell off of the map. All the local noise disappeared. They brought a dog and pony show to town and then pull a “disappearing act”.

    Since then, FTX one of the the world’s largest cryptocurrency exchange collapsed.
    Bitcoin was $60K in Nov 2021 and is now less that 16K in Nov 2022.

    https://finty.com/us/research/fintech-failures/

    It was rumored that the local fintech will be name Gotchya


  43. Was looking at Bitt. You remember that? I see no connection to Barbados.
    Was it sold?
    Were we just a test tube?
    I wanna know?


  44. I get the impression that people are running circles around us.
    They get the big idea and then use us like a test tube or a guinea pig.

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