Prime Minister Gaston Browne is set on making Antigua and Barbuda an “economic powerhouse” in the region. What has to be done to turn its potential into tangible results?

Traditionally, Antigua and the Caribbean has had a strong relationship with North America and Europe. If we are going to develop, we have to do it by looking into collaboration with other markets. If we are going to do that, we also need to establish closer transportation links. The PM has led delegations both in China and the UAE, and in the UAE we had very productive discussions with airlines such as Emirates.
Antigua also be a hub by sea. We are looking forward to development of the commercial side and the tourism side. On the commercial
container side, with the assistance of the Chinese, we are going to modernise our port. This is being done in order to accommodate the extra traffic we expect not only through Panama but also through the new Pacific-Atlantic railway link through Guatemala. Our Minister of Tourism has also been active in ensuring that we can accommodate the Quantum class of cruise ship, and we are working toward being able to accept the Oasis class by the end of this year.
If we can move toward new markets and provide connectivity by air or by sea, we will open the door to new investment.

“ Traditionally, Antigua and the Caribbean has had a strong relationship with North America and Europe. If we are going to develop, we have to do it by looking into collaboration with other markets.”

What can you tell us about your strategy to capitalise on ebanking, ecommerce, and other potential synergies with technology?
The Global Bank of Commerce was seen as pivotal in enhancing the ‘fintech’ factor for banks. We established an international processing centre for VISA, for Mastercard, which is even connected to China UnionPay, so it is already in position to accommodate Chinese visitors. Having established that technical platform, the next step was to create an alternative payment system. We developed SugaPay, which mixes both mobile application and card, and gives more options for payments.
Governments like ours want to become more efriendly. We have to improve not only the ease of doing business but the cost of doing business.

I imagine these services offer huge benefits both for microenterprises and the diaspora. What more can you tell us about them and the ease which they provide users?

Technology for financial services enhances the opportunity to service small and medium-sized business. Microfinance is a sector that banks in general tend to stay away from because it is very difficult to monitor. Technology provides a record of accounts, and you need that when you’re dealing with microfinancing. By enabling banks through our technical services to support micro-sector projects, we allow for greater financial inclusion for our people.

What can you tell us about your expansion and investment strategy? Where do you see the bank in the next 3-5 years?

We play an important role in providing services for the development of the country, whether with government or with the private sector, and our focus is on that. We do expect to expand our services into other islands. I would hope that a product such as SugaPay could become a service that will help to improve the relationship between banks in the Eastern Caribbean.

You are very much involved in giving back to the community. How would you define the bank’s impact on Antiguan and Barbudan development?

You have to be able to live as one with the community. My favourite of the projects that we support is a project called the Care Project. This project manages vulnerable children that would otherwise be left behind. What we have seen in their care over the last three years has been remarkable, and we are excited about how much we can do in terms of improving their circumstances in the future. We hope that we can set an example for others to follow in this respect.