Hon. E. Jay Saunders speaks on “ENHANCING DIGITAL TECHNOLOGY” at TCI Business Outlook
I must say that it is a pleasure and an honour to address you at this 2nd Annual Turks and Caicos Islands Business Outlook, especially on the topic "Enhancing Digital Technology."
Today, technology is at the heart of global wealth and economic prosperity.
The top 4 of the 5 wealthiest individuals globally are in technology. They are:
1. Elon Musk – USD$407B
2. Larry Ellison – USD$242B
3. Mark Zuckerberg – USD$239B
4. Jeff Bezos – USD$228B
In addition, and impressively, all 5 of the world's largest companies (by market capitalization) are technology-driven enterprises. They are:
1. Microsoft – 2.63T
2. NVIDIA – 2.61T
3. Apple – 2.0T
4. Amazon – 1.67T
5. Alphabet (Google) – 1.58T
I highlighted these facts to show digital technology’s enormous potential for:
* wealth creation,
* economic development, and
* social change – especially to the benefit of Turks & Caicos Islanders.
The main technologies driving this Fourth Industrial Revolution (Industry 4.0) are:
* Artificial Intelligence (AI),
* Cloud Computing,
* Data Analytics, and
* Blockchain.
AI, particularly Generative AI (like ChatGPT), is transforming industries and driving efficiencies.
Governments globally are leveraging digital technologies and are achieving transformative results. For example,
• Estonia, the face of digital governance due to its National ID platform, has improved public service efficiency, and as a result, grew their economy.
• Similarly, Singapore's integration of AI and digital services has significantly boosted its GDP and citizen satisfaction.
• South Korea’s extensive digital infrastructure and innovation-friendly policies have fostered significant economic growth.
• Rwanda, through its ambitious digital transformation, has improved governance, transparency, and public service efficiency.
• Dubai, a leader in smart city technology, has dramatically enhanced its business ecosystem and citizen services.
Inspired by the successes of these countries, my vision for the TCI is ambitious, but is achievable, and it aligns with our Vision 2040 aspirations.
We will utilize digital technologies to transform the Turks and Caicos Islands Government into a High-Performance Government:
I.e. A government that consistently delivers outstanding results for its citizens. A government that makes meaningful strides towards achieving a high quality of life for current and future generations of citizens and residents of the Turks and Caicos Islands.
We will also utilize it to grow our economy, grow GDP, and improve border and domestic security.
As highlighted in my 2025 budget speech, several upcoming projects demonstrate our government’s commitment to transforming the Turks and Caicos Islands
into a country that delivers:
“A high quality of life enjoyed by citizens, residents and future generations.”
National ID Project: Scheduled for rollout by early 2027, this platform will streamline public services, enhance border security, facilitate ease of business, and lay a foundation for comprehensive digital governance.
Automated Clearing House (ACH): We are actively working with local banks to introduce ACH, which will revolutionise financial transactions, reducing transaction costs, enhancing transparency, and boosting economic activity across the islands.
Generative AI and Business Intelligence (BI): Initiatives underway in collaboration with Microsoft AI Copilot include projects such as AI chatbots for government websites, intelligent border security systems, and advanced data management for our Land Registry and Registrar General's databases.
These projects that I will speak to now are central to realising our Vision 2040 goals:
1. Economic and GDP Growth: Initiatives, such as the ACH, will significantly reduce financial transaction friction, promoting increased investment and business efficiency. By extension, our National ID system will enable efficient citizen verification, directly enhancing the ease of doing business.
2. Improved Border and Domestic Security: AI-driven border systems will substantially strengthen security infrastructure, safeguarding our residents and enhancing visitor confidence, vital for our tourism-driven economy.
3. Efficient Delivery of Government Services: Implementing comprehensive e-government initiatives, such as AI-driven customer service platforms and streamlined online services for vehicle and driver’s license renewals, and public transportation and ride (taxi) hailing, will enhance public sector efficiency, public safety, and citizen satisfaction.
4. Inclusive Growth and Prosperity: By adopting business intelligence and AI solutions, we will make better-informed policy decisions, enhancing equity, economic inclusion, and generating tangible benefits for Turks and Caicos Islanders across all the islands.
Looking 5-10 years ahead, I can see digital technologies creating significant opportunities for us to modernize our islands.
I envision, and our Government is working towards creating a digitally enabled nation, seamlessly interconnected, and offering best in class digital services accessible by every citizen.
E-Governance, digital healthcare, smart education systems, smart and safe city technologies, and renewable energy solutions integrated through intelligent grids will transform our islands, positioning the Turks and Caicos Islands as a sustainable, digitally driven country.
Our ongoing efforts align with our core strategic goals:
1. building a resilient economy,
2. improving citizen security,
3. driving down the cost of living,
4. protecting the elderly and the vulnerable,
5. increasing investments in human capital development,
6. ensuring environmental sustainability, and
7. strengthening governance (particularly our good governance) structures.
I am confident that the foundations we’re laying today will deliver lasting benefits, thereby creating a future where every Turks and Caicos Islander can thrive, enjoying the fruits of sustained, inclusive growth and technological advancement, and most of all, live their best lives within the Turks and Caicos Islands.
Thank you. May God continue to bless you and your loved ones. And may he continue to bless our Beautiful by Nature Turks and Caicos Islands.
Are we seeing an Iran-Israel ceasefire?
US President Donald Trump took a gamble by inserting the US into the worsening conflict between Israel and Iran, but it may have paid off - at least for now.
Trump announced on Tuesday evening that the two countries had agreed to a ceasefire that he said could lead to a lasting peace.
While neither Israel nor Iran has definitively confirmed the development, White House officials are privately touting what they say is a diplomatic breakthrough.
And, if the American president has in fact ended what he labelled the "12 Day War", it would make for a significant step back from the brink of a conflict that seemed on the verge of engulfing the region, along with pulling America further in after US airstrikes hit Iranian nuclear facilities on Saturday.
"Provided that the Israeli regime stops its illegal aggression against the Iranian people no later than 4 am Tehran time," Iranian Foreign Minister Abbas Araghchi said in a statement, "we have no intention to continue our response afterwards."
It may not be called a ceasefire, but as the 4 am deadline arrived in Tehran the Israeli attacks reportedly came to a halt. The two parties appear to be on the verge of turning down the heat.
This latest development comes after a tumultuous day in the region, when Iran followed through on its promise to retaliate for Saturday's US strike.
According to early reports, all the Iranian missiles directed at the massive US base in Qatar were intercepted and there were no American casualties or damage.
During his address to the nation on Saturday night, Donald Trump warned that there would be an overwhelming American answer to any Iranian attacks on US interests. He promised that there were more targets that could be struck by American forces if needed.
For more than 24 hours, the world waited to see what Iran would do. Once Iran had acted, attention swung back to the US president and, after a few hours, he had his first say.
"Iran has officially responded to our Obliteration of their Nuclear Facilities with a very weak response, which we expected, and have very effectively countered," Trump posted on his social media site.
He said that Iran had gotten it out of their "system" and added that "perhaps Iran can now proceed to Peace and Harmony in the Region".
With the damage is reported to limited, Trump seemed to be inclined to hold his fire in the hopes that the Iranians will be willing to negotiate in earnest. And, behind the scenes, the White House says he was talking to Qatari mediators and Israeli Prime Minister Benjamin Netanyahu to work out the details of the ceasefire.
Trump's weekend attack on Iran was a high-risk manoeuvre, but a scenario in which the pay offs are already coming into view.
Source-BBC
Remarks from the Deputy Premier at the TCI Business Outlook under the theme " Prioritizing Inclusive Sustainable Growth”
“Prioritizing Inclusive Sustainable Growth,” captures the essence of what our economy must become and underscores our unwavering commitment to this vision. We aim for an economy that grows not just in numbers but in depth, reach, and resilience. One that lifts people, protects nature, and creates space for everyone to participate and thrive.
As Acting Premier, I am pleased to share how the Government is working to position the Turks and Caicos Islands for long-term success—through diversification, smart investment, and meaningful collaboration with the private sector.
Diversifying for Economic Resilience
Our proactive approach to diversification is a testament to our optimism and hope for the future. We must reduce our dependence on any single sector to future-proof our economy. While tourism remains a vital driver of growth, we are focused on building complementary industries that provide balance, stability, and sustainable opportunities.
Our diversification strategy includes investments in:
• Agriculture and fisheries – to strengthen food security and create value-added exports;
• Renewable energy – to reduce costs, ensure energy independence, and meet our climate goals;
• Financial services – to position our jurisdiction as competitive, compliant, and innovative;
• The orange and digital economies – where creativity, culture, and technology drive 21st-century jobs.
• Infrastructure – The bedrock that drives any successful economy
This multifaceted approach will help build a more inclusive and resilient economic foundation that is better prepared to withstand global disruptions. It will also create new job opportunities, enhance food security, and reduce our carbon footprint.
Strengthening Revenue and Fiscal Systems
A sustainable economy relies on strong, fair, and efficient public finance systems.
We are expanding our revenue base, reforming our revenue generation structures for equity and resilience, and enhancing compliance mechanisms to ensure the Government collects what is due. Through consultancy and technical assistance from IMF/CARTAC. They are assisting with Revenue Generation reform in MOF to improve compliance, implementing a new system, and exploring new revenue streams. These efforts are not just about funding services—they are about creating the fiscal space to invest in people, infrastructure, and innovation.
Supporting MSMEs and Local Enterprise
Inclusive growth must begin at home, and our commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) is a testament to this. We recognize that MSMEs are the lifeblood of local commerce and employment and are deeply committed to their success.
We have committed over 90% of MSME funding to date, with 89 projects receiving concessions. The fisheries sector received the highest allocation, and South Caicos recorded nine concessions—the highest ever from that island.
Our support includes financing and technical assistance to help entrepreneurs scale up, modernize, and enter new markets.
Elevating the Tourism Sector
We acknowledge the transformative leadership of the former Minister of Tourism the Honourable Josephine Connolly, under whom the country transitioned from the traditional Tourist Board to a dynamic new agency—Experience Turks and Caicos.
This reform contributed to a historic achievement: 2.0 million arrivals by air and sea in 2024, a record for our destination.
Looking ahead, our strategy is clear: We will protect the exclusivity and value of our tourism brand. This means focusing not just on the number of visitors, but on quality—growing Revenue Per Available Room (RevPAR) and investing in experiences that reflect the uniqueness of our islands.
Real Estate and Investment Confidence
The real estate sector remained stable in 2024, with 2.5% growth, and is projected to grow 3.2% in 2025. These figures reflect investor confidence and underscore the importance of clear planning, sound land management, and predictable regulatory environments.
Building Infrastructure for the Future
No economy can grow without the infrastructure to support it. That is why we are investing in a modern, integrated infrastructure network—fit for 2040 and beyond.
In 2023, we spent $38.6 million on capital projects. While this was an improvement, we are not satisfied with the pace of delivery. The procurement and approvals processes have proven to be a challenge, and we are actively reforming it to unlock faster, more efficient project execution.
For the coming fiscal year, $86.7 million will be allocated to Economic Affairs, covering:
• Infrastructure and land development,
• Tourism enhancement,
• Agricultural support,
• Environmental and coastal protection,
• Utilities, communications, and disaster resilience.
Transforming the Energy Landscape
No sector reflects the urgency of sustainability more than energy.
We are committed to a clean energy transition, beginning with the modernization of our power grid to handle growing demand and enable renewable integration. We aim to generate 40% of electricity from renewable sources, with solar as a central driver.
To support this, we are introducing net metering, allowing residents and businesses to generate solar power and receive credits for feeding excess energy back into the grid.
This is not just about clean power but about economic empowerment, energy security, and lowering the cost of living.
Conclusion
Inclusive, sustainable growth must remain central to our collective ambition as we look ahead.
It calls on us to create an economy that is not only robust and competitive, but also fair and forward-facing—where growth reaches across sectors, across islands, and into the hands of all who call these shores home.
It means embracing innovation, empowering entrepreneurs, protecting our environment, and building resilience in every development layer.
At this forum, we are not just forecasting the future but helping shape it. The partnerships we forge here, the strategies we refine, and the bold ideas we commit to will determine the trajectory of our economy for years to come.
Let us move forward with clarity, courage, and shared purpose toward a future that is more inclusive, more sustainable, and filled with opportunity for all.
Thank you.
Tom Cruise is set to receive an honorary Oscar
The Academy of Motion Picture Arts and Sciences has announced the entertainers who will receive honorary Academy Awards at the 2025 Governors Awards.
Along with Cruise, choreographer Debbie Allen and production designer Wynn Thomas will receive honorary Oscars at the upcoming ceremony. Additionally, Dolly Parton is set to receive the Jean Hersholt Humanitarian Award.
The trophies will be presented at the 16th annual Governors Awards on Nov. 16 at the Ray Dolby Ballroom at Ovation Hollywood.
“This year’s Governors Awards will celebrate four legendary individuals whose extraordinary careers and commitment to our filmmaking community continue to leave a lasting impact,” AMPAS President Janet Yang said in a statement.
As for what led to Cruise's recognition, Yang said it was his "incredible commitment to our filmmaking community, to the theatrical experience, and to the stunts community [that] has inspired us all."
Yang said Parton "exemplifies the spirit of the Jean Hersholt Humanitarian Award through her unwavering dedication to charitable efforts."
Allen's recognition comes from her history as "a trailblazing choreographer and actor, whose work has captivated generations and crossed genres," Yang said, before also recognizing the production design from Thomas.
"Wynn Thomas has brought some of the most enduring films to life through a visionary eye and mastery of his craft,” Yang said.
Cruise has been nominated for three Oscars. Allen has choreographed the Academy Awards ceremony seven times. Thomas is known for his work on Spike Lee's films, including Do The Right Thing and Malcolm X. Parton is being recognized for her humanitarian work, which includes her organizations the Dollywood Foundation and Dolly Parton's Imagination Library.
Source-ABC
Matthews, Campbelle steer WI Women to thrilling victory
Captain Hayley Matthews and her deputy Shemaine Campbelle played crucial knocks to lead West Indies Women to their first T20I series win over South Africa Women in 12 years in thrilling fashion here at the 3W’s Oval on Monday.
Hours after being named Women’s T20I Player of the Year by Cricket West Indies (CWI), Matthews scored her second consecutive half century of the series, with Campbelle proving to be the perfect partner, as the home side registered a six-wicket win to clinch the three-match series 2-1.
After winning the toss and choosing to bat, South Africa Women were led by a maiden T20I half century by Miane Smith, which helped them to post a respectable 147 for six in their 20 overs.
But Matthews scored 65 off 50 balls and Campbelle chipped in with 42 to lead the home side to 148 for four with nine balls remaining in the contest.
It marked the first time West Indies Women emerged victorious over the Proteas Women in a T20I series since back in 2013 when they won 2-0 in the Caribbean.
Once again it was Matthews, who was voted Player-of-the-Match and Player-of-the-Series, that spearheaded the run chase.
The skipper lost her opening partner Qiana Joseph with just 17 runs on the board, while Realeanna Grimmond scored just five before being bowled by medium pacer Ayabonga Khaka to see West Indies slip to 32 for two in the sixth over.
Campbelle then joined Matthews at the crease and the pair set about repairing the damage during an 82-run partnership that spanned 10 overs.
Matthews hit Khaka for a six and two boundaries in the eighth over that yielded 18 runs and she moved into the 40s with another boundary off Nonkululeko Mlaba in the ensuing over.
She brought up her 19th T20I half century off 39 balls when she scampered two runs off the last ball of the 11th over bowled by Mlaba.
At the end of the 15th over West Indies Women seemed on course for a comfortable victory, with 38 runs needed from 30 balls.
But Matthews was bowled off her pads by a delivery from spinner Sune Luus in the next over after hitting nine fours and one six to give South Africa an unlikely chance of victory.
And when Campbelle gifted Marizanne Kapp a simple caught and bowled opportunity it set up a tense finish with West Indies requiring 12 from 13 balls.
However, Chinelle Henry belted pacer Tumi Sekhukhune for a six and four off consecutive deliveries, before sealing the match with a drive through cover that allowed her to gather two runs.
Henry finished unbeaten on 20 off 11 balls with two fours and a six.
Kapp was South Africa’s best bowler, taking 2-27 from her four overs.
Earlier, the 20-year-old Smith scored an unbeaten 59 off 38 balls with seven fours and one six, to lead an otherwise disappointing batting display by the visitors.
South Africa was given a decent start by its top order, but was bogged down by disciplined bowling by West Indies’ spinners Afy Fletcher, Karishma Ramharack and Matthews.
Openers Tazmin Brits and Luus put on 29 runs in just 3.3 overs, until Ramharack dismissed the latter for 13.
That run rate slowed dramatically after, and when Brits lost her wicket to Fletcher for 20, they had only progressed to 57 for two in the ninth over.
But Smith provided a spark with some breathtaking shots, which helped the visitors to gain some momentum in the latter stage of the innings.
Ramharack led the way with 2-18, while Fletcher took 2-28 for the West Indies.
HON. ARLINGTON MUSGROVE GIVES REMARKS AT TCI BUSINESS OUTLOOK
Honourable guests, distinguished colleagues, esteemed Partners, and members of our beloved community, good morning.
It is with a profound sense of purpose that I address you today at the second annual Turks and Caicos Islands Business Outlook. Today’s event reflects our shared commitment to fostering an environment where sustainable, inclusive growth is more than an aspiration but a tangible reality rooted in innovation, resilience, and social equity.
Our theme, “Prioritizing Inclusive, Sustainable Growth” is both timely and essential as we navigate the complex challenges and opportunities that define our islands’ development trajectory. Vital to this pursuit is our focus on developing sustainable solutions for affordable housing, which I will explore in depth today.
A fundamental truth shared from Jeremiah 29:11: “For I know the plans I have for you, declares the Lord, plans to prosper you and not to harm you, plans to give you a hope and a future.” I’m reminded by this scripture that prosperity and hope are central to God’s divine plan for our nation. It is our moral obligation to ensure that all our people can realize this promise, beginning with adequate shelter.
The Imperative for Affordable Housing in TCI: Let us begin by framing the significance of this issue. For far too long, the lack of affordable, quality housing has constrained our social fabric and economic vitality. It impairs workforce stability, limits opportunities for upward mobility, and impedes our ability to attract investment and talent.
In the context of the Turks and Caicos Islands, where our natural beauty and climate are both our greatest assets and our greatest challenges, the need for resilient, environmentally responsible housing solutions is paramount. Affordable housing is both a social imperative and an economic necessity. Rising land prices, increasing demand, climate vulnerabilities, and limited land availability compel us to re-imagine how we approach housing development.
The Turks and Caicos Islands National Housing Policy is a Landmark Framework. In 2023, we took a decisive step forward with the launch of this Policy, a comprehensive, forward-looking blueprint designed to address these challenges holistically.
A vision realized as outlined in the Citizens’ Contract 2.0, where we committed to delivering on an ambitious agenda to turbocharge the delivery of affordable and social housing.
This policy is informed by rigorous research, community consultation, and a deep understanding of our unique development context. It emphasizes three core pillars:
1. Inclusivity: Guaranteeing equitable access to housing, ensuring individuals from all backgrounds, abilities, and income levels can afford safe, affordable, and dignified living.
2. Sustainability: Incorporating environmentally sustainable construction practices, climate resilience, and responsible land use.
3. Innovation and Partnership: Fostering public-private collaborations, leveraging technology, and mobilizing resources efficiently.
This policy aligns with our national development goals and reflects our commitment to building a society where no one is left behind.
The Housing Policy is anchored in clear strategic objectives, including:
Affordable Housing Supply: Increasing the stock of affordable units through targeted incentives and land development initiatives.
Environmental and Climate Resilience: Ensuring all new housing complies with climate-smart standards—an imperative given our vulnerability to hurricanes, rising sea levels, and extreme weather events.
Capacity Building: Strengthening our institutional frameworks and human resources to plan, develop, and sustain housing solutions effectively. Central to this is the implementation of a Mortgage Corporation by this administration. At present, the Mortgage Corporation will serve as a facilitator, working to streamline processes, provide technical support, and help lay the groundwork for expanded homeownership opportunities. The long-term vision for the corporation includes becoming a key player in delivering affordable financing, developing innovative mortgage products, and building capacity within the housing sector. Our goal is to eventually see the Mortgage Corporation act as a catalyst for sustainable housing development, but for now, it's about setting the stage and enabling progress.
Financial Accessibility: Developing innovative financing models, such as low-interest loans, grants, and subsidies tailored to different income groups. We will actively engage with our banking partners to develop a product that offers low mortgage rates for persons with low to moderate incomes. (Bankers might be the best partners for a long-term relationship; they know how to stay committed for the long haul.) Rest assured, the government is committed to facilitating this need, working closely with financial institutions to make home ownership more accessible.
Community Engagement and Empowerment: Promoting hands-on planning processes that involve local communities in decision-making, ensuring that solutions are culturally appropriate and socially acceptable.
Looking ahead, our administration is committed to expanding upon these foundations with a suite of targeted programs:
Land Allocation and Development: We are identifying and preparing parcels of land specifically for affordable housing projects, with an emphasis on environmentally sensitive development and climate resilience.
Public-Private Partnerships (PPPs): We recognize that sustainable housing development requires collaboration across sectors. We are actively engaging with developers, financial institutions, and civil society to unlock innovative solutions and investment.
Smart Housing Technologies: We are exploring the integration of sustainable building materials, green infrastructure, and energy-efficient systems to reduce long-term costs and environmental footprints.
Capacity and Skills Development: We will invest in training programs for local builders, architects, and planners, ensuring that our workforce is equipped to deliver quality and sustainable housing.
Monitoring and Evaluation: Establishing robust metrics and feedback mechanisms to assess progress, adapt strategies, and ensure accountability in our housing initiatives.
Understand the Role of Community and Stakeholders- A successful housing strategy hinges on active community involvement. We must foster a culture of collaboration, transparency, and shared responsibility here in the Turks and Caicos Islands. Our citizens’ voices must guide our planning, ensuring that solutions are tailored to local needs and aspirations.
Furthermore, the private sector’s participation is vital. By incentivizing sustainable development and responsible land use, we can catalyze investments that will benefit our people and our environment.
The Broader Vision for these islands is Sustainable, Resilient, Inclusive Communities. Imagine a Turks and Caicos where every family has access to safe, affordable, and environmentally responsible housing; where communities are resilient to climate impacts, and where economic growth is inclusive and sustainable.
This vision aligns with our broader national goals: to foster economic diversification, improve social equity, and protect our natural heritage. After all, this government exists to improve the lives of the people we serve and to build a better future for generations to come.
And now, it is a Call to Action- Ladies and gentlemen, the road ahead will require dedication, innovation, and collective effort. We must harness our resources, leverage partnerships, and remain steadfast in our commitment to developing sustainable housing solutions.
I call upon all stakeholders, government agencies, the private sector, civil society, and our citizens, and of course, a clarion call to the banks to join us in this vital endeavour. Let us work together to ensure that our islands not only remain a paradise but also evolve into a model of sustainable, inclusive living.
I reaffirm our government’s dedication to this cause. The Turks and Caicos Islands National Housing Policy is a promise to build a future where affordable, resilient, and sustainable housing is accessible to all.
As we advance, let us remember that housing is a fundamental right to human dignity, social stability, and economic prosperity. With vision, collaboration, and perseverance, we will realize this vision and secure a brighter future for generations to come.
Thank you for your attention, your partnership, and your shared commitment to the sustainable growth of our beloved Turks and Caicos Islands.
God bless you, and God bless our islands.
Caribbean leaders attending high level meeting in Nigeria
Caribbean Community (CARICOM) leaders will from Wednesday join their African counterparts for a three-day meeting of the African Export-Import Bank (Afreximbank) focusing on advancing trade, investment, and innovation across the continent,
The 32nd Annual Meetings (AAM2025) of the Egypt-based financial institution is expected to bring together an influential coalition of leaders including top business executives and academics.
Former Jamaica prime minister, PJ Patterson is among the influential figures who are scheduled to speak at the events as well as Professor Jeffrey Sachs, director of the Centre for Sustainable Development at Columbia University and Dr. Kishore Mahbubani, distinguished fellow, Asia Research Institute, National University of Singapore.
Africa’s foremost business innovation leaders such as Aliko Dangote, president and chief executive officer of Dangote Group and Tony Elumelu, chairman of Heirs Holdings, as well as Professor Ghulam Mufti of King’s College in London, will also participate .
Nigerian President Bola Ahmed Tinubu, his predecessor Chief Olusegun Obasanjo and Ambassador Albert Muchanga, the African Union Commissioner for Economic Development, Tourism, Trade, Industry Mining, are also expected to attend the event,.
They will be joined by ministers, central bank governors, investors, and industry leaders from Africa, the Caribbean, and beyond for the AAM2025 that will be held under the theme “Building the Future on Decades of Resilience”.
Afreximbank president and chairman of the board of directors, Professor Benedict Oramah, said that AAM 2025 comes at a pivotal time for Africa, “as the continent confronts global uncertainties, it is doing so with renewed resolve”
Oramah said that following the 31st AAM in The Bahamas last year, the meetings here “are about catalysing practical action, building stronger institutions to strengthen trade integration and unlocking the full potential of African innovation” thanking Tinubu for his support.
“AAM2025 is expected to deliver strong economic benefits, both in the short and long term. The main anticipated impacts include the trade and investment mobilisation, policy and institutional advancement and strengthening South-South cooperation and trade flows,” according to a statement issued by the bank.
It said that AAM2025 is also expected to facilitate significant trade and investment deals, including memoranda of understanding and public-private partnerships. The meetings are expected to catalyse billions of dollars in funding over the next five to 10 years for key strategic sectors.
“By bringing together heads of state, ministers, leaders of trade institutions, policymakers and the private sector, the meetings will advance regional dialogue on several priorities: implementing the African Continental Free Trade Area, enhancing cross-border payment systems to speed up regional transactions, strengthening Africa–Caribbean (CARICOM) economic ties through expanded trade, tourism, and joint ventures, and ensuring private sector participation in policy reforms. ”
The bank said that these discussions aim to reduce business costs, improve trade infrastructure, and deepen regional economic integration with the organisers anticipating that the event is expected to be attended by thousands of participants and media from more than It said that this year’s meetings will also mark the launch of several new initiatives.
Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa.
At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion.
Source-CMC
Dominican Republic national arrested after gun found in baby crib
The Trinidad and Tobago Police Service (TTPS) Monday said that a 33-year-old national from the Dominican Republic had been arrested after an AR-15 rifle with 100 rounds of ammuntion had been found in a baby crib.
In a statement, the police said that the woman, whom it did not name, was arrested for possession of a firearm and ammunition, following an operation on Sunday.
According to the police, during the intelligence-led operation, officers of the Gang Unit and Arima Intelligence and Operations Team proceeded to the Cunupia district in central Trinidad where they conducted a search of a house.
“A female suspect who was in the house with a baby at the time of the exercise is alleged to have displayed suspicious behaviour and attempted to hide an object under a crib mattress.
The object was found to be an AR-15 rifle, loaded with a magazine, containing 100 rounds of 5.56 ammunition,” the police statement said, adding that the “woman was arrested in connection with the find”.
Source- CMC
Iran launches missiles at US bases in Qatar and Iraq
Qatar has temporarily closed its airspace after the US and the UK told their citizens in the country to shelter in place "until further notice".
The US embassy in Qatar suggested in a notice online that Americans do so "out of an abundance of caution". The UK government said it was issuing its warning in response to the US alert.
The warnings come after the State Department told US citizens in international locations to "exercise increased caution," after the US bombed three nuclear sites in Iran on Saturday. Iran has threatened to retaliate.
In a statement, Qatar's Ministry of Foreign Affairs said the closure of its airspace was to ensure the safety of residents and visitors.
In a separate statement in response to the embassy notice, the foreign ministry said the warning did "not necessarily reflect the existence of specific threats".
"The security situation in the country is stable," the statement said, adding that "the relevant authorities are closely monitoring the situation and are ready to take all necessary measures to ensure the safety of citizens, residents, and visitors".
Meanwhile, Iran has launched missiles at US airbases in Qatar and Iraq in response to strikes on its nuclear sites on Saturday, state media reports. Explosions are heard in Doha after a "credible threat" of an Iranian missile attack on a US-run airbase in Qatar
Qatar is home to the largest US military base in the Middle East, Al Udeid Air Base. About 8,000 US citizens live there, according to the State Department.
It is also home to US CENTCOM's headquarters for all its air operations in the Middle East, where British military personnel also serve on rotation.
The US has about 40,000 troops stationed in the Middle East.
THREE DAYS FROM MONDAY JUNE 23RD, 2025
GENERAL SITUATION: A surface trough extending southwestward from a weak low north of the area may spark a few showers, but mostly fair skies with sunshine and variable cloud cover will prevail today.
SPECIAL WARNINGS: Beachgoers and swimmers should remain vigilant due to the risk of rip currents especially for eastern shorelines and all Atlantic exposures.
WEATHER: Partly sunny with a medium (40 percent) chance of isolated showers this afternoon. Mostly fair with isolated showers possible tonight.
WINDS: Northeast to east at 10 to 15 knots
SEAS: Caicos Bank – 3 feet or less; Atlantic Nearshore – 2 to 4 feet; Atlantic Offshore – 3 to 5 feet
DAYTIME HIGH TEMPERATURE 91°F 33°C HEAT INDEX 103°F 39°C
OVERNIGHT LOW TEMPERATURE 81°F 27°C
SUNSET: 07:34 PM
NEXT LOW TIDE: 01:10 PM (0.3 FT)
NEXT HIGH TIDE: 07:46 PM (3.3 FT)
EXTENDED FORECAST: The surface trough will drift northwest and dissipate late Tuesday, allowing Atlantic high pressure to extend westward across the region. This pattern will support breezy conditions, moderate to rough seas, and occasional showers or thunderstorms over the next couple of days.
TUESDAY: A low (30 percent) chance of scattered showers in the morning, then a medium (60 percent) chance of showers and isolated thunderstorms in the afternoon. New total rainfall accumulation between a quarter to a half an inch (0.25 to 0.50 in). Partly cloudy, with a high near 91°F (33°C).
TUESDAY NIGHT: A medium (40 chance) of showers and possibly an isolated thunderstorm after 8 pm. Partly cloudy, with a low around 80°F (26°C)
ADVISORY: Small Craft Caution
WINDS: East to southeast at 10 to 20 knots
SEAS: Caicos Bank & Atlantic Nearshore – 2 to 4 feet; Atlantic Offshore – 3 to 6 feet
SUNRISE: 06:07 AM
SUNSET: 07:35 PM
LOW TIDE: 02:21 AM (0.7 FT) 02:03 PM (0.3 FT)
HIGH TIDE: 07:56 AM (2.3 FT) 08:38 PM (3.3 FT)
WEDNESDAY: Isolated showers possible in the morning, then a low (20 percent) chance of showers in the afternoon. New total rainfall accumulation between a quarter of an inch (0.25 in). Partly cloudy, with a high near 91°F (33°C).
WEDNESDAY NIGHT: Mostly fair, with a low around 81°F (27°C)
ADVISORY: Small Craft Advisory
WINDS: East to southeast at 15 to 20 knots, with higher gusts at times.
SEAS: Caicos Bank & Atlantic Nearshore – 2 to 4 feet; Atlantic Offshore – 4 to 6 feet, increasing up to 7 feet by the evening
SUNRISE: 06:07 AM
SUNSET: 07:35 PM
LOW TIDE: 03:11 AM (0.7 FT) 02:55 PM (0.3 FT)
HIGH TIDE: 08:46 AM (2.3 FT) 09:29 PM (3.3 FT)