During his Official Remarks at the Opening of BISX Invest Fest Bahamas 2026, on February 6, 2026, Prime Minister and Minster of Finance the Hon. Philip Davis pointed out to those in attendance that, compared to five years prior to that time, “the economy is growing again”.
“Unemployment is down,” Prime Minister Davis, at the event held at Baha Mar Convention Centre. “International institutions that once marked us down are now revising their view. A downgrade story has become an upgrade story. A jobs crisis has become one of the lowest unemployment periods in recent memory.”
“As a country, we refused to give up on ourselves,” he added. “So we already know something important: when we set a clear direction and stick to it, we can move from setback to progress.”
Prime Minister noted that the question then was what does The Bahamas do with that proof.
“We can treat this recovery as a breather and slip back into old habits; or we can treat it as a launch pad and put our capital markets to work at a much higher level,” he said.
He added: “If we could move from downgrade to upgrade, we can move from shallow markets to deeper ones. If we could move from high unemployment to more people [at] work, we can move from a small investing class to far more Bahamians owning a share of their own economy.”
Prime Minister Davis said, that was where the record of the last few years in capital raising became so important.
“Take energy and infrastructure,” he said. “In July 2024, CFAL brought a 100-million-dollar bond for Bahamas Grid Company to market. The issue opened on 15 July and closed on 26 July – 12 days.”
Prime Minister Davis added: “It was oversubscribed. Allocations to some institutions had to be cut back so ordinary Bahamian investors could be included. Those funds are financing roughly 130 million dollars in upgrades to poles, lines and substations on New Providence.”
He noted that, in August 2025, CFAL launched the first round of its Private Equity Fund to finance EA Energy and Island Power Producers.
“The offer ran from 21 to 29 July – nine days,” Prime Minister Davis said. “About 5,000 subscriptions came in.”
“Thousands of Bahamians now own a direct stake in solar and LNG power projects in Eleuthera and Abaco, and in an LNG plant supplying cleaner power to cruise ships in Nassau,” he added.
He continued: “In November 2025, CFAL returned to the market for Island Power Producers with a 100-million-dollar bond. The book was open from 6 to 14 November – again nine days; again oversubscribed. The company accepted an extra 12 million dollars above the original target. That raise is funding a modern LNG plant in the cruise port that will cut emissions at berth and free up capacity for the rest of the grid.”
Prime Minister said that one should “step back and look at what that means”.
“In a few weeks in 2025, Bahamian capital delivered 12 million dollars in equity and 100 million dollars in debt for cleaner, more reliable power,” he stated. “In twelve days in 2024, Bahamian savers filled a 100 million dollar bond for grid upgrades.”
Prime Minister Davis added: “And it goes beyond energy. In April 2023, CFAL raised 145 million dollars in eleven days to refinance the Nassau Cruise Port bond. More than 300 investors participated between 17 and 28 April. The port moved from an eight percent bond to a six percent bond, saving about three million dollars a year and securing long-term funding for a waterfront that supports jobs and small businesses.”
Prime Minister Davis said that, every month, the Government of The Bahamas raised tens of millions of dollars in Bahamas Registered Stock on the local market.
“A 20.3 million dollar offering in January 2026 ran from the morning of 9 February to the afternoon of 11 February – three days,” he pointed out. “Domestic investors were ready and waiting – different sectors; different instruments; same signal.”
“When there is a clear project, proper disclosure, credible partners and fair terms, the capital shows up – and it shows up fast,” Prime Minister Davis added.
He stated that when he says that there was enough capital in the country to tackle some of its biggest problems, he was not “speaking in theory”.
Prime Minister Davis said: “I am pointing to what has already happened. In about a week, we can raise 100 million dollars to strengthen the grid. In nine days, we can raise equity and debt to build new plants on the islands. In 11 days, we can refinance a major port and free up millions every year.”
“The turnaround in our economy and the performance of our capital market now reinforce each other,” he added. “A stronger economy has given investors confidence. A responsive market has proved it can mobilise money at scale for real projects. We have proved we can raise money quickly, at scale, to fix real problems.
“The next step is to widen that success, and use our capital markets so that more Bahamians, and more partners, take part in financing the solutions our country needs.”
Prime Minister Davis said that although The Bahamas could not “slow the winds that are blowing across the global economy”, what it could do is decide “how ready we will be”.
“We can choose our path,” he said. “And we can take our people with us into a future of opportunity and possibility.
Prime Minister Davis added: “That is the promise behind this Invest Fest. That is the work of the years ahead. Let us accept that work with clear eyes and steady hearts.
“Thank you, and I wish you a thoughtful and rewarding Invest Fest.”
By Eric Rose/Bahamas Information Services
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