A roundup of the latest ICT/technology news from across the Caribbean region for the period Monday 2 October to Sunday 8 October 2023.
Monday, 2 October 2023
ArawakX blames BOB ‘mislabel’ for fund commingling allegation
Bahamas – The Bahamas’ first-ever crowdfunding platform is alleging that the “mislabeling” of its accounts by a BISX-listed bank created the “prejudicial impression” that it was commingling investor/client funds with its own… more
ArawakX CEO fires back
Bahamas – Firing back at the Securities Commission of The Bahamas (SCB), ArawakX CEO and Chairman D’Arcy Rahming Sr. argued that his company is not insolvent and there was never any commingling of client funds… more
ArawakX: Our ‘$70m pipeline’ is neglected
Bahamas – ArawakX’s chairman is asserting that regulators are placing too much emphasis on “accounting law” and ignoring “pipeline” business that could be worth up to $7m in fee income for the platform… more
ArawakX rejects regulator’s insolvency claims, slams winding-up “ambush”
Bahamas – ArawakX’s chairman and chief executive has roundly rejected assertions by the Securities Commission that the crowd-funding platform was insolvent to the extent of $2.4 million and guilty of any regulatory breaches or irregularities… more
Prime Minister’s Office denies meeting with FTX founder to discuss national debt payment
Bahamas – The Office of the Prime Minister is refuting claims that embattled FTX founder Sam Bankman-Fried met with Prime Minister Philip Davis to discuss paying off country’s $11 billion national debt… more
Sebas e-commerce platform launches courier services
Bahamas – The e-commerce provider owned by Sebas Bastian and his partners has confirmed its expansion into freight forwarding services via a sales tax-free US address… more
AI Expo to highlight possibilities for digital innovations in Guyana
Guyana – Local firm V75 Inc. will stage an AI-4D exhibition on November 24, 2023 with the aim of demonstrating the possibilities new technologies hold for development… more
Carnival creators contemplate AI
Trinidad and Tobago – AT A symposium hosted by Queen’s Hall on September 18, nine Carnival or Carnival-adjacent practitioners and two technology experts discussed the impact of artificial intelligence (AI) on two panels… more
Digicel’s MyCash gets provisional e-money approval
Trinidad and Tobago – MYCASH (Trinidad and Tobago) Ltd was issued provisional registration by the Central Bank yesterday to issue electronic money locally… more
Tuesday, 3 October 2023
Crowdfunding could help GB businesses, Adderley says
Bahamas – Chairman of the Securities Commission of The Bahamas [SCB] K. Neville Adderley, a retired judge, believes crowdfunding is an ideal tool to start and advance small- and medium-size businesses, particularly in Grand Bahama… more
Sam Bankman-Fried offer to pay national debt ‘never entertained’, says OPM
Bahamas – THE Office of the Prime Minister said Prime Minister Philip “Brave” Davis never entertained proposals from Sam Bankman-Fried to pay off the country’s national debt… more
URCA in crackdown over communications outages
Bahamas – Regulators last night voiced their displeasure with inconsistent and delayed reporting of network outages by Bahamian communications providers as they moved to better protect consumers from such disruption… more
San Pedro Building Unit goes entirely online
Belize – As of October 1st, anyone in San Pedro Town, Ambergris Caye, needing to reach out to the Building Unit for a building permit will be required to do so online… more
Gov’t Committed to Modernising Services Delivered
Jamaica – Cabinet Secretary, Audrey Sewell, says the Government is committed to modernising its services and enhancing the customer experience for all citizens and persons doing business with Jamaica… more
tTech, Hitachi to educate businesses on cyber incident planning
Jamaica – Managed IT services company tTech Limited has teamed up with international cybersecurity experts, Hitachi Systems Security Inc., to educate Jamaican businesses on the management of critical cyber incidents… more
Wednesday, 4 October 2023
BTC fiber uptake beating company’s projections
Bahamas – The Bahamas Telecommunications Company (BTC) has experienced “record growth” in its fiber uptake in the market, the company said yesterday… more
BTC sees record growth in broadband business as company exceeds its targets in Q3
Bahamas – BTC is reporting record growth in its broadband business due to high demand for fiber services, with the company exceeding its targets in the third quarter… more
Six regional regulators sign historic MOU
Caribbean – The Office of Utilities Regulation (OUR) in Kingston, Jamaica, the Eastern Caribbean Telecommunications Authority (ECTEL) in Castries, Saint Lucia, and representatives of four (4) National Telecommunications Regulatory Commissions (NTRCs) in the ECTEL Member States, signed a historic Information Sharing Memorandum of Understanding (MOU) at a virtual signing ceremony on Tuesday, October 3, 2023… more
Lifespan taking customers into the metaverse
Jamaica – LIFESPAN Spring Water company is introducing another innovation, with its customers being invited to engage with the metaverse and getting a chance to win non-fungible tokens (NFTs), a first for any campaign locally… more
Regulations for data protection law to go before Parliament in ‘a few weeks’ – Morris Dixon
Jamaica – Minister in charge of skills and digital transformation Senator Dr Dana Morris Dixon says in a “few weeks” she will bring to Parliament, the regulations to govern the implementation of Jamaica’s data protection law… more
Thursday, 5 October 2023
ArawakX won’t give top investor his 22%
Bahamas – The Bahamas’ first-ever crowd-funding platform plans to bar its largest investor from taking a 22 percent equity stake in the business following the fall-out that triggered its present regulatory woes… more
Digital provider seeks Out Island pay-kiosk partners
Bahamas – A Bahamian digital payments provider yesterday said it is rapidly expanding its network of Family Island fast-pay kiosks as requests to partner with it continue to mount… more
Accountants embrace AI
Caribbean – Financial professionals share a sense of optimism about digital transformation, including artificial intelligence (AI)… more
Building your personal brand in a digital age
Caribbean – In an age where digital footprints often carry more weight than physical interactions, the concept of personal branding has emerged as a pivotal element in professional and personal success… more
Surveillance drones arrive on the Dominican border
Haiti – With the aim of making the work more efficient and documenting the actions of migration control operations on Dominican territory, more particularly along the border with Haiti, the General Directorate of Migration (DGM) indicated that a new surveillance system in real time by drone will be implemented… more
Budget 2024: Digital transformation key priority
Trinidad and Tobago – IN his 2024 budget presentation on Monday, Finance Minister Colm Imbert asserted that digital transformation remains one of the government’s top priorities… more
Friday, 6 October 2023
Bahamian’s action on $28m FTX aircraft ‘nonsensical’
Bahamas – FTX’s US chief yesterday branded a Bahamian entrepreneur’s bid to protect his rights over aircraft worth $28m as “nonsensical” and sought to dismiss his “oral ‘handshake deal’” with Sam Bankman-Fried… more
‘Irresistible inference’ ArawakX misused client funds to pay bills
Bahamas – ArawakX’s use of a loan from its largest investor to pay sums due to crowd-funding issuers and subscribers creates “the irresistible inference” it was using client funds to cover operating expenses, regulators charged yesterday… more
Regulator: ArawakX portal provider owed $28k debts
Bahamas – ArawakX’s assertion that it faces no creditor demands is contradicted by complaints it has failed for months to settle a $28,000 bill due to the firm that serviced its crowd-funding portal, regulators alleged yesterday… more
Cryptoasset ecosystem in the region shows significant growth
Caribbean – A new study has found that the cryptoasset ecosystem in Latin America and the Caribbean has shown substantial growth, with the number of firms more than doubling since 2016… more
World Bank Economic Review: Digital Solutions Can Fuel Growth, Inclusion and Better Governance in the Caribbean
Caribbean – Latin America and the Caribbean (LAC) made progress in macroeconomic resiliency over previous decades and navigated the multiple post-pandemic crises with relative success. Yet, according to a new World Bank report, growth remains inadequate to reduce poverty and create jobs, while fiscal constraints limit necessary investments… more
Ibex to hire 2,000 new employees at upcoming job fair
Jamaica – MORE jobs are on the horizon within the business process outsourcing (BPO) sector, as Ibex Global Jamaica is set to host a job fair in Portmore, St Catherine, this weekend… more
MOE launches digital skills project for teachers
Jamaica – Ministry of Education and Youth Permanent Secretary Dr Kasan Troupe (left) speaking at the launch of the Inter-American Development Bank’s Digital Skills Project at the Ministry of Education and Youth on Wednesday. Looking on is Dr Winsome Gordon, chief executive officer, Jamaica Teaching Council… more
Saturday, 7 October 2023
Report all cyber security threats immediately – NDMA General Manager urges Govt. agencies
Guyana – General Manager of the National Data Management Authority (NDMA), Christopher Deen recently underscored the urgency of dealing with cyber security threats, and has advised all Heads of Government Ministries and Agencies to report all threats as soon as they are detected… more
Sunday, 8 October 2023
Cybersecurity takes sharp focus at TechCon by tTech 2023
Jamaica – For the first time since its inception in April 2018, local technology and business conference TechCon by tTech, was held in October to recognise Cybersecurity Awareness Month… more
Images credit: congerdesign (Pixabay); ArawakX; The Bahamas Weekly; BTC (Facebook); Wikipedia; Wikimedia Commons
