AGP Executive Report

Medical Cannabis Rollout: Health Minister Dr. Michael Darville says the government has secured and signed the Metrc digital platform to regulate medical cannabis “seed-to-sale,” run licensing, and support medical e-prescriptions—while recreational cannabis remains prohibited. Power Crisis Fallout: Reports highlight continued grid strain and blame over New Providence outages, including elderly homes facing hours-long blackouts and calls for clearer responsibility and relief. Business Pushback on EV Claims: EV dealership owners and drivers dispute Bahamas Grid Company’s suggestion that EV chargers are driving demand, arguing the real issue is an aging system. Energy Infrastructure (LNG): New Providence Gas’s LNG import plans move forward with ECOnnect Energy’s jettyless LNG transfer system selected for Clifton Pier, aiming to speed delivery and support the shift from oil to natural gas. Maritime Disruption: Shipping through the Strait of Hormuz and Bab el-Mandeb fell sharply after Houthi missile claims on Saudi tankers, raising fresh concerns for regional trade and energy routes. Tourism & Cruise Industry: Norwegian Cruise Line unveils Great Tides Waterpark for Great Stirrup Cay (opening 4 Sept), while cruise operators continue expanding Caribbean offerings. Aviation Fees Hit Operators: Bahamas Air Navigation Services Authority begins collecting retroactive navigation fees from private and commercial aircraft operators dating back to May 1, 2021, with increases reported up to 700%. Immigration & Work Permits Review: Foreign Affairs Minister Fred Mitchell says Grand Bahama employment and hiring practices are under review to improve transparency and protect Bahamians’ job opportunities without discouraging investment. Local Business Spotlight: The Monarchy Taproom in New Providence positions itself as a locally rooted, draft-focused beverage destination celebrating Bahamian history.

Energy Infrastructure Deal: ECOnnect Energy (Norway) has won a contract to supply a floating LNG import terminal for New Providence Gas (NPG), a Shell Bahamas Power and Sun Oil/Focol joint venture—using its IQuay C-Class FLNG platform to move LNG from carriers to onshore storage with less coastal construction, aiming to support a shift from diesel and fuel oil to LNG and help stabilize power costs. Power Crisis Fallout: Bahamas Power and Light (BPL) and Bahamas Grid Company (BGC) are facing mounting public anger over outages and load-shedding, with officials urging conservation as August demand rises; BGC says the grid is still short-staffed and is working to simplify New Providence’s aging, multi-voltage network, while EV dealers and drivers push back on claims that EV chargers are to blame. Aviation Fees Hit Operators: BANSA has started collecting retroactive navigation fees from private and commercial aircraft operators dating back to May 1, 2021, with increases reported from nearly 300% to almost 700% depending on aircraft weight. Local Transport Disruption: The Fresh Creek Bridge in Central Andros has been condemned after structural failure, cutting the main transport link and complicating electricity restoration and access to the airport. Maritime Trade Pressure: Shipping through the Strait of Hormuz and Bab el-Mandeb fell sharply after Houthi claims of missile attacks on Saudi tankers, raising fresh concerns for regional energy supply routes.

Energy Infrastructure: Bahamas Grid Company (BGC) and Bahamas Power and Light (BPL) faced fresh scrutiny after weeks of outages, with BGC CEO Dareo McKenzie saying the grid’s aging, complex transmission and distribution network is being simplified and modernized, while also noting the company is still short on skilled staff (about 100 now, targeting 160–180). Public Pressure & Accountability: At a joint press conference, BPL and BGC urged residents to conserve power during peak periods, and the debate spilled into a pushback from EV dealership owners who rejected claims that EV charging is to blame. Energy Transition Deal: ECOnnect Energy secured a contract to deliver a Shell-backed floating LNG import terminal to the Bahamas, aiming to enable LNG imports to New Providence from late 2026 to stabilize fuel supply and support a shift away from diesel. Transport & Works: The Ministry of Works condemned the Fresh Creek Bridge in Central Andros after a sunk intermediate pier and deflection, closing it to vehicles and moving toward temporary ferrying while a temporary bridge is planned. Digital Assets: Bahamas Benchmark Group announced Bahamas Ovryde, a regulated digital asset marketplace partnership pending regulatory approval, after the post-FTX confidence shake-up. Cruise & Tourism Industry: Norwegian Cruise Line unveiled its Great Tides Waterpark for Great Stirrup Cay, opening Sept. 4, with nearly six acres of slides and new pier capacity.

Geospatial Capacity Boost: Ordnance Survey donated 170 field survey kits to strengthen The Bahamas’ mapping and surveying skills, supporting training and work in infrastructure planning, disaster resilience, and environmental management. Digital Assets Watch: Bahamas Benchmark Group says it’s partnering with Ovryde to launch Bahamas Ovryde, a regulated crypto trading platform awaiting Securities Commission approval after the FTX shock. Power Grid Clarity: A new explainer breaks down roles in the BPL/BGC setup, with Bahamas Grid Company handling transmission and distribution while BGC points to aging equipment as a reliability challenge. Family Island Infrastructure: Central Andros’ Fresh Creek Bridge is closed to vehicles after a pile cap sank and shifted; a temporary bridge is planned within two months while a permanent replacement is built. Cruise Tourism Investment: Norwegian Cruise Line unveiled its Great Tides Waterpark at Great Stirrup Cay—opening Sept. 4—with 19 slides, cliff jumps, and a new pier to bring more ships ashore. Aviation Connectivity: Western Air launched Freeport-to-Bimini service, starting Mondays and Thursdays and expected to ramp up with demand. Trade & Compliance: NBAA is pushing back on retroactive Bahamas air navigation charges, urging operators to share invoice details as it advocates with the U.S. government. Youth Skills Pipeline: Coralisle Group wrapped its 2026 summer internship programme, bringing students from six jurisdictions including The Bahamas, with cross-functional work and mentorship. Energy Transition Planning: An IDB-commissioned study says The Bahamas is among the region’s most prepared for maritime decarbonization, but shore-side power and green bunkering at Nassau Container Port need more investment. Consumer Tech Scrutiny: Retail exec Brent Burrows Jr. says the Price Pal app is outdated and not useful enough, after government paid Novio Group to build the price comparison tool. Energy Politics: PLP and FNM leaders traded blame over BPL outages, with renewed pressure on the government’s energy policy and grid management. Renewables Funding Call: IRENA opened a funding call for renewable projects across Central America and the Caribbean, including The Bahamas, with proposals prioritized before Sept. 1.

Cruise & Tourism Development: Norwegian Cruise Line is rolling out its new Great Tides Waterpark at Great Stirrup Cay, a nearly six-acre, Sept. 4, 2026 opening featuring 19 slides, the Caribbean’s only four-person body slide, cliff jumps, an immersive river tunnel, and new dining plus a two-berth pier to boost shore access. Domestic Aviation & Connectivity: Western Air launched a Freeport-to-Bimini service (Mondays & Thursdays), aiming to support tourism and accelerate family island airport buildouts. Aviation Fees Pressure: The NBAA says The Bahamas is charging retroactive air navigation fees dating back to May 1, 2021, with operators asked to share invoice details as advocacy ramps up with the U.S. government. Energy & Power Politics: FNM and PLP leaders traded blame over ongoing BPL outages, with calls for clearer energy policy and faster grid fixes. Consumer Tech Watch: Retail execs criticized the government’s Price Pal app as outdated, despite its taxpayer-funded development. Youth Skills & Training: Division of Youth apprentice camps showcased trades from carpentry and robotics to agriculture and animal husbandry at a trade show. Renewables Funding: IRENA opened a funding call for renewable energy projects across the Central America and Caribbean region, including The Bahamas. Maritime Decarbonization Readiness: An IDB-commissioned study flags Nassau Container Port as relatively advanced on policy for shore-side power and green fuel bunkering, but says infrastructure gaps remain.

Maritime Decarbonisation: An IDB-commissioned study says The Bahamas is among the Caribbean’s most ready for the shift to shore-side power and green fuel bunkering, though Nassau Container Port still lacks operational services and needs more infrastructure and investment. Renewables Funding: IRENA opened a proposal call for renewable energy projects across Central America and the Caribbean, including The Bahamas, with support routed through its Climate Investment Platform and Energy Transition Finance Accelerator. Aviation Fees: BANSA has started retroactive fee collections on multi-engine piston, turboprop and jet flights to/from/over the Bahamas since May 1, 2021, with increases reported from about 300% to nearly 700%, drawing concern from operators. Power Crisis: Bahamas Power and Light outages continue to spark public frustration after an island-wide blackout tied to a suspected Blue Hills cable fault and explosion, with government and opposition trading blame. Cruise & Community: Disney Cruise Line partnered with Buddy Hield to upgrade Woodcock Primary School’s sports complex in Nassau, expanding its Play Project for local youth. Insurance Talent Pipeline: Coralisle Group wrapped its 2026 summer internship programme, taking students from six jurisdictions including The Bahamas into an eight-week, multi-discipline insurance experience. Tourism Push: The Bahamas Ministry of Tourism launched an “It’s More Bahamas Season” campaign offering North American travellers $250 off select air-inclusive packages. Trade Pressure: The Bahamas is among Caribbean countries hit by new US import tariffs tied to forced-labour claims, raising export-cost concerns. Youth Sailing: Three Bahamian sailors are set to compete at the ILCA 4 Youth World Championships in Aarhus, Denmark.

Power Crisis in Focus: Bahamas Power & Light crews are working to restore service after a suspected underground cable fault and explosion at the Blue Hills Power Station, with some areas expected back by 2 p.m. but other feeders still offline into midnight; Prime Minister Philip Davis says the outages reflect an inherited, end-of-life grid and has asked BPL to consider further financial relief for affected customers. Policy & Cost Pressure: BANSA has started retroactively collecting higher fees from aircraft operators for flights since May 1, 2021, with increases up to nearly 700%, drawing concern from operators about retroactive charges. Tourism Deals & Travel Watch: The Bahamas launched an “It’s More Bahamas Season” promotion offering North American travellers $250 instant savings on select packages, while the U.S. updated its Bahamas cruise travel advisory warning of violent crime risks. Hurricane Outlook: The Atlantic remains quiet with no tropical development expected for the next week, though forecasters say conditions can change later in August. Business & Talent: Colina Holdings Bahamas hosted BYLD students with a $10,000 donation, and CG Insurance wrapped its 2026 summer internship programme drawing students from six jurisdictions including The Bahamas. Industry & Culture: Chef Marcus Samuelsson opened Vibe BBQ at Grand Hyatt Baha Mar, adding another dining option to the resort’s lineup.

Bahamas Power Crisis: New Providence was hit by an island-wide blackout after an explosion and fire at BPL’s Blue Hills Power Station, blamed on a suspected underground cable fault; Prime Minister Philip Davis toured the site, called the system “archaic and end of life,” and said BPL should explore further financial relief for customers as outages and loadshedding continue. Local Governance & Accountability: Opposition leaders traded blame over BPL’s performance and the energy reform programme, with FNM and PLP figures arguing over whether generation, maintenance, or cancelled deals drove the current grid failures. Economic Outlook: Central Bank Governor John Rolle said growth is still on track to run “just below” last year’s 3.8%, citing tourism, construction and foreign investment—while acknowledging frequent, long-lasting power outages as a key headwind. Financial Crime Controls: A new Bahamas beneficial ownership risk assessment shows compliance improving sharply, with non-compliance falling from 28% during COVID to about 2% last year. Trade & Tariffs: The U.S. keeps expanding Section 301 tariffs and related actions, with Bahamas-linked calls for exemptions and pressure on costs. Maritime & Energy Security: Iran-linked attacks and sanctions activity continue to ripple through LNG and shipping routes, underscoring volatility for regional logistics. Tourism & Travel Safety: The U.S. updated its travel advisory for the Bahamas, warning Americans about violent crime in cruise hubs like Nassau and Freeport. Cruise Industry Incidents: A Carnival passenger was arrested in connection with alleged child abuse onboard a Bahamas cruise. Business & Skills: Colina Holdings Bahamas hosted BYLD students, highlighting careers across insurance, IT, investments and communications, and donated $10,000 to the programme. Ports & Development: Residents voiced concerns over Freeport Harbour expansion plans as local projects face renewed scrutiny.

Bahamas Power Crisis: New Providence was hit by another island-wide blackout after a suspected underground cable fault and transformer explosion at BPL’s Blue Hills Power Station, with restoration updates rolling out by midday but more outages and loadshedding continuing into the day; PM Philip Davis said the issue reflects an “end of life” grid and “acts beyond our control,” while opposition leaders traded blame and businesses complained about rising operating costs. Energy Reform & Relief: Davis asked BPL to review additional financial relief for customers facing repeated disruptions and high bills, as Central Bank Governor John Rolle said there’s no measurable economic impact so far but warned that lowering energy costs is key for long-term growth. Tourism Operations: Baha Mar’s Robert “Sandy” Sands said major resorts largely weathered outages via standby power, but smaller tourism operators—especially off-site food and beverage—felt the hit. Cruise Industry Watch: Royal Caribbean passengers reported onboard library spaces being repurposed, while U.S. travel advisories again flagged violent crime risks in the Bahamas for cruise visitors. Local Business & Training: Colina Holdings Bahamas hosted BYLD students with career talks across insurance, IT, finance and design, and donated $10,000 to the program. Finance & Compliance: Bahamas beneficial ownership non-compliance fell sharply from COVID-era levels to about 2% last year, reducing financial crime risk. Aviation Detail: Palm Beach International Airport’s IATA code is set to change from PBI to DJT on Aug. 18, affecting traveler booking identifiers.

Energy Crisis: New Providence plunged into darkness after a suspected underground cable fault sparked an explosion and fire at BPL’s Blue Hills Power Station, with restoration rolling out in stages while some feeders stayed offline; PM Philip Davis urged patience and said the outages stem from “acts beyond our control” amid an aging grid, while businesses reported lost productivity and higher operating costs. Policy & Economy: Central Bank Governor John Rolle said it’s premature to link the outages to measurable economic damage, but stressed long-term growth depends on cutting electricity costs; he also pointed to healthy first-half growth, stronger tourism and foreign investment, and rising foreign currency inflows. Finance & Compliance: Bahamas beneficial ownership non-compliance fell sharply from COVID-era levels to about 2% last year, and the Central Bank highlighted the first-ever credit bureau as still in start-up mode but already helping borrowers clean up records and negotiate better terms. Digital Assets: Benchmark Bahamas signed a joint venture to create a regulated digital asset trading platform pending Securities Commission approval under the DARE Act. Travel Advisory: The U.S. updated its Level 2 travel advisory for the Bahamas, warning of violent crime and reiterating concerns around jet ski and watercraft safety. Tourism & Industry: Baha Mar’s Marcus Samuelsson opened Vibe BBQ, and Colina Holdings Bahamas hosted BYLD students with a $10,000 donation to support career pathways in insurance, IT, finance, and design.

Power Crisis in Focus: New Providence was hit by an island-wide blackout after a suspected underground cable fault and transformer explosion at BPL’s Blue Hills Power Station, with restoration rolling out in stages while some feeders stayed offline; the Prime Minister said the cause was “acts beyond our control” and urged patience as the grid is replaced piece by piece. Business Impact: Local operators say outages are more than an inconvenience—studios, restaurants and smaller tourism suppliers face shutdowns, delayed schedules and higher costs when standby power doesn’t cover everything. Energy Reform Debate: Opposition and government leaders traded blame over whether BPL’s summer failures reflect mismanagement or the inherited state of the system, as the Central Bank warned against assuming the outages have already dented overall growth. Macro & Finance: Central Bank Governor John Rolle said the economy is still on track, with tourism and construction supporting growth, while beneficial ownership compliance improved sharply and the first-ever credit bureau is already helping borrowers. Tourism Momentum: Visitor arrivals rose 14.2% to 6.1 million in the first five months of 2026, led by cruise expansion and stronger stopover travel. Shipping & Trade: J M Baxi Group’s LPG shipping move and ongoing global tariff churn under Section 301 add more pressure and opportunity for regional logistics and importers. Cruise Industry Notes: Carnival’s Vista marks a decade at sea, while a separate Carnival passenger arrest over alleged child attacks highlights security concerns onboard.

Power Crisis Escalates: New Providence was hit by an island-wide blackout after an electrical fire at BPL’s Blue Hills Power Station, blamed on a suspected underground cable fault that triggered a 15MVA transformer explosion; PM Philip Davis toured the site, apologized, and said the outages stem from “acts beyond our control,” while BPL reported staged restoration with some areas still offline. Energy Reform Pressure: The outage reignited the blame game over BPL’s summer reliability and whether the Davis administration’s energy overhaul is delivering, with tourism leaders saying major resorts can run on standby but smaller operators and food-and-beverage businesses feel the hit. Central Bank Take: Central Bank Governor John Rolle said there’s no measurable economic impact from the outages so far, but warned electricity costs remain a key factor for investment decisions. Trade & Shipping Watch: J M Baxi Group moved into LPG shipping with an $87.3m VLGC purchase, as LNG routing and freight markets stay volatile amid Strait of Hormuz disruption talk. Local Business & Talent: Colina Holdings Bahamas hosted BYLD students and donated $10,000, while Bahamian jazz trumpeter Giveton Gelin joined the Recording Academy as a voting member. Tourism Momentum: Visitor arrivals rose 14.2% to 6.1m in the first five months of 2026, supported by cruise expansion and stronger stopover demand.

Energy Crisis: Bahamas Power and Light (BPL) blamed a suspected underground cable fault and transformer explosion at Blue Hills Power Station for an island-wide New Providence blackout, with restoration rolling out in stages while some feeders stayed offline; the Central Bank says there’s no measurable economic hit so far, though businesses report higher operating costs and smaller operators are most exposed. Tourism & Economy: Visitor arrivals rose 14.2% to 6.1 million in the first five months of 2026, with cruise passenger growth helping keep the economy on track, even as power disruptions test the sector’s patience. Cruise Industry Incidents: A Carnival Glory passenger was arrested in connection with alleged attacks on children during a Bahamas cruise, while Royal Caribbean’s Allure of the Seas continued sailing after a viral cabin flooding incident. Maritime & Trade: J M Baxi Group bought a Bahamas-flagged LPG VLGC for $87.3m, as LNG shipping chatter continues around Strait of Hormuz transits. Local Business & Ports: Residents pushed back on Freeport Harbour expansion plans, and Port Lucaya Marina redevelopment talks continue amid “ghost land” concerns. Food & Hospitality: Chef Marcus Samuelsson opened Vibe BBQ at Grand Hyatt Baha Mar, adding another Caribbean-forward dining option for resort guests.

Tourism & Growth: Visitor arrivals jumped 14.2% to 6.1 million in the first five months of 2026, with cruise passenger arrivals up 15.9% and stopover arrivals rebounding 4.8%, keeping tourism the main engine of activity. Shipping & Energy: J M Baxi Group is moving into LPG shipping, buying a Bahamas-flagged VLGC for about $87.3m as spot charter rates surge amid Strait of Hormuz disruption. Power Crisis: Bahamas Power and Light is restoring service after an electrical fire at Blue Hills Power Station triggered an island-wide blackout in New Providence; crews are working to stabilize the grid and bring communities back online. Travel Advisory Update: The U.S. State Department kept The Bahamas at Level 2 but updated the advisory text to highlight jet ski, beach, unlicensed boat operator, and firearms-in-luggage warnings. Payments Modernization: The Central Bank completed a technical assessment for a fast payment system, aiming for near-instant P2P, P2B and P2G transfers 24/7. Local Industry Pressure: Residents in Freeport pushed back hard on Bahama Rock’s proposed harbour expansion and mining plan, citing long-running environmental and community impacts. Banking Performance: Central Bank data shows commercial bank profits strengthened in 2025, supporting confidence in financial stability.

Energy & Shipping: QatarEnergy’s LNG carrier Al Areesh, Bahamas-flagged and managed by Seapeak Maritime, reportedly transited the Strait of Hormuz and is bound for Pakistan—fueling speculation about future LNG routes and spot-market dynamics. Power & Business Impact: Opposition and residents are again pointing to New Providence grid failures, with Fred Mitchell calling the electricity system “in a state of collapse” amid repeated outages that are disrupting homes and operations. Trade & Tariffs: Minister Fred Mitchell says US export tariffs over forced-labour claims are “vexing” for The Bahamas, while new BNSI figures show imports from the US still dominate (about $1.026bn in Q1 2026), and the trade deficit widened to $1.085bn. Payments Modernisation: The Central Bank has completed a technical assessment for a fast payment system, moving The Bahamas closer to near-instant P2P, P2B and P2G transfers. Local Governance & Industry Appointments: The Davis administration named chairs and members across 149 boards, including new leadership at the National Insurance Board and BAIC. Ports & Development: Freeport Harbour expansion opponents are ramping up their campaign ahead of a public consultation, warning of long-term blasting and industrial disturbance. Finance & Consumer Lending: Fidelity Bank says it won’t chase “bragging rights” in consumer borrowing, even as banks continue to support a borrowing-heavy market. Environment & Industry: Grand Bahama Shipyard highlighted mangrove restoration progress, citing nearly 25,000 seedlings planted with Waterkeepers Bahamas. Insurance Innovation: The Insurance Commission launched an ICIRP programme adding AI training and an innovation hub pathway for regulated ventures.

Power & Business Impact: The Bahamas Chamber of Commerce and Employers’ Confederation says persistent Bahamas Power & Light outages are forcing businesses to close, lose sales, and spoil inventory—especially where electronic payments and refrigeration can’t run reliably. Trade & Tariffs: New BNSI figures show imports rose 6.4% to about $1.3bn in Q1 2026 while the trade deficit widened to $1.085bn, as exports face renewed pressure after the US 12.5% tariff. Export Strategy: Bahamas Trade Commission Chairman Barry Griffin says the government is pushing export diversification and a national export strategy with the IDB to reduce reliance on the US. Financial Stability: The Central Bank reports domestic financial stability risks remain well contained, though global trade uncertainty and geopolitics add near-term pressure. Insurance Regulation: The Insurance Commission launches an ICIRP programme adding AI to its compliance and innovation push, with an innovation hub pathway for regulated ideas. Grand Bahama Development Fight: Opponents of Bahama Rock’s Freeport Harbour expansion ramp up ahead of a public consultation, warning of years of blasting and disturbance. Maritime & Environment: Grand Bahama Shipyard marks International Mangrove Day by highlighting mangrove restoration work, including planting nearly 25,000 seedlings with Waterkeepers Bahamas. Local Governance/Infrastructure: Works Ministry says Fishing Hole Road Bridge damage shown online is localized spalling, with a full engineering inspection scheduled. Housing & Lending: Fidelity Bank says it won’t chase risky mortgage growth, citing structural barriers that keep mortgage credit below pre-COVID levels. Science & Research: Bahamas Academy of Sciences unveils its first peer-reviewed publication mapping 50 years of Bahamian research and flags major gaps in areas like groundwater, food systems, and renewable energy.