BVI News

Premier leading BVI’s first financial services mission to Africa

Premier Dr D Orlando Smith

The British Virgin Islands is expanding its financial services reach by embarking on a two-week trade mission to Africa in November.

Minister responsible for finance, Premier Dr D Orlando Smith will be leading a local delegation across three African nations – South Africa, Kenya, and Nigeria.

While visiting those countries, the BVI delegation will participate in a number of high-level meetings with officials in African governments and in the African private sector.

Three mini-conferences are to be held in the South African city of Cape Town, the Kenyan capital Nairobi, and also in Lagos, Nigeria.

Citing a study from London-based consultancy firm Capital Economics, Interim Executive Director of BVI Finance Lorna Smith said the visit is to “further strengthen the profile of the BVI in Africa”.

“The release of the Capital Economics report highlighted that the BVI has been doing considerable business on the continent. Nigeria alone has had the largest foreign direct investment stock from the BVI, standing at US$2.9 billion,” she said.

“There is, therefore, good business to be done and this visit will once again allow government and the private sector to work together in driving the growth of our industry in these challenging times.”

The trade mission to Africa will run from November 5 to 16.

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46 Comments

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  1. Hmmm says:

    Sounds like one last nice and expensive trip taken on the backs of the BVI people by a lame duck politician that will be not use to the BVI in the very near future! I trust the leaders of the respective political parties will at least go as well so that whomever leads us after the next election has knowledge of what this trip hopes to achieve?

    Like 35
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    • Janice says:

      Wh is the wife a government official? And, director of finance?

    • Anonymous says:

      The UK is watching every one of these moves by the politicians and ruling families. There is a reason the UK will not guarantee the loans to restore the Territory. By the way, is the Governor going along or is this a “Black only trip”. Orlando how about publishing a cost for the trip along with a list of who is going. Sounds to me like a nice family vacation expense paid for by the people waiting for schools, roads, trash removal and transparency.

      Like 23
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    • Nixon says:

      … This is the final straw!

    • Cookie Monster says:

      We already caught him with his hand in the cookie jar. Now he is taking the last cookies before he leaves office.

      Like 7
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  2. Laura says:

    Is there no end too this madness? Who is holding the Premier accountable for these lavish trips?

    “Premier Dr D Orlando Smith will be leading a local delegation across three African nations – South Africa, Kenya, and Nigeria”. Who are the locals travelling, hopefully people that will be able to give account of what actually transpired…

    No wonder the BVI names is stained far and wide..we just don’t learn!

    Like 25
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  3. Anonymous says:

    Contact with an emerging economic power house that is long over due.

    Like 5
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  4. ndp heckler says:

    He is going to meet more scam artists in places like nigeria?…Hope not another 7 million saga?

    Like 20
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  5. wow says:

    Another dream which will turn into another nightmare ?????

    Like 9
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  6. White Elephant says:

    His country is on fire, his roads are broken, his schools are broken, our utilities don’t work most of the time and our internet is slower than anyplace on the planet and he is going on a two week safari? Who does he think he is?

    He still hasn’t released the audit or explained the massive loss in BVI airways.

    HOW MUCH ARE WE SPENDING ON THIS TRIP?

    Like 35
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  7. @Anonymous says:

    Perhaps the great Doctor is planning our great return to whence we came. How glorious!!!!

    Like 10
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    • @@Anonymous says:

      It is hoped that this Anonymous is not being thought of [associated with] as that other DEMENTED Anonymous. It is not him/her.

      Further,the folks that have been confronting that demented soul about the blatant racial hatred being spewed on a daily basis are encouraged to continue to confront such.

      Because, if not confronted, we might be attacked in some physically brutal and life threatening manner by some demented person who thinks his priviledges as a UK citizen are being usurped by some “low educated, dumb, low lifers.” .

      Hence, this is a call to all who know where hate speech leads and be cognizant that minds like that live in our midst and can any day bring great harm to us, motivated solely by skin color.

      Moreover, BVI News should and must sensor such blatant and vile hate speech levied against the Black, beautiful people of this territory.

      Lastly, the purpose of this blog was to simply state the following, but the hate of one neccesitated a preamble:

      Here it is: One day it is predicted, into the future, many will be flocking to Africa seeking economic opportunity and a better life, as is now the case with America and to a lesser extent, the UK.

      Like 1
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  8. Hark the harol says:

    People learn to appreciate what these people are doing for this country and future generation nuff said.

    Like 5
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  9. nick says:

    how much money this will cost us?

    Like 8
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  10. Reply says:

    Interesting. This trip sounds like some fishing expedition in hopes of catching something…anything for what purpose I don’t understand. I too question its value, and I am uncertain the anticipated expense is justifiable.

    Appears to me, government folks are always taking these very expensive overseas trips, and there are never any reports after on the government’s part how these expensive trips have been beneficial to the country.

    Do you know how much it cost for one person not to mention a delegation to travel and be accommodated to those countries from the BVI? An arm, a leg, and ones unborn child.

    Make no mistake, this 3 state African trip will be an expensive trip for taxpayers with the Premier, and his “delegation” in tow.

    Is this trip really necessary now, or justifiable when the country still needs money to rebuild after the 2017 hurricanes? The optics of this does not look good. Sorry to say, it’s as if the government is tone deaf, indifferent, or don’t care how this looks.

    While government officials have to travel from time to time to conduct official business, I personally do not think it’s necessary to hop on a plane every time to get things done in this day and age of modern communication.

    Normally, when heads of governments travel to this extent they do so only after preparatory work has been completed by lower government staff, and some agreement is imminent and is about to be signed. Not on some willy nilly trip.

    Reading this article, I get the impression that somebody came up with the bright idea and said, lets go to Africa and see what we can find, and off they are going.

    Wasteful spending? I’ll leave it up to others to opine. However, this trip sounds to me like some African safari trip, or an African trip on the way out the door, at tax payers expense. Meanwhile, many school kids are still displaced from their destroyed schools.

    This a time for shared sacrifices, and not expensive travel by government officials on an African safari.

    I just hope the “delegation” has their immunizations up to date. You never know what you may catch on an African safari.

    Like 23
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    • Agreed says:

      Very well-observed “Reply”.

      Like 4
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    • Reasoning says:

      In the world of Business, this trip would be considered an Investment and would be Anazized over and over looking for the best Cost/Benefit Relationship.
      With online Advertising, there’s a process called Split-Testing where you create 2 similar web pages or ADs and show them to the same audience. The one with the highest positive Response, (kind of like asking for a show of hands or clapping for the winning performer in a competition). The objective is to find the best possibility outcome (Cost/Benefit situation; best bang for your buck)

      Outlay of Capital as this trip seems will cost, should never be pursued on a Whim, or Scatter-shot trial and error. You don’t do that especially when funds are limited.
      Africa, especially Nigeria is know as the capital of Scam-land. That by itself is cause to raise the proverbial Red Flag.

      An Act or Decision can be defined as Calculated…or Desperate. Is there a Clue here?

  11. Retired says:

    Here’s a thought – just invite the Lagos, Cape Town and Nairobi financial delegations here to the BVI in November so they can learn all about our financial services. The African visitors can also enjoy BVI hospitality and ‘nature’s little secrets’ during their visit. Additionally the BVI’s lame duck politicians won’t spend any of the BVI’s money while the African visitors will likely spend some money here during their visit.

    Like 22
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  12. Realist says:

    He’s going back to visit his belonger relatives, they probably have fried chicken over there as well. They have a lot in common, both a financial black holes (no pun intended).

    Like 9
    Dislike 9
    • Disinterested says:

      @Realist, keep the racist fried chicken nonsense in the States; the BVI don’t want to hear it. So disappointed that you didn’t add water melon to the silly rant. Bet you are not Indian.

      Like 8
      Dislike 1
  13. back to africa says:

    ANOTHER WILD GOOSE CHASE

    Like 5
    Dislike 2
  14. VI Lander says:

    Of course he going Africa, some politicians need places to hide … Imagine some of those African politicians are billionaires and look at the standard of life of its citizens. I think that the same legacy the Ndp leaving behind, wealthy politicians and a struggle people. Sad sad sad sad sad

  15. Youth says:

    Use the monies to rebuild the schools, you don’t need to go. Have a Heart.

    Like 12
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  16. Wow says:

    Why does everything have to be so negative in this place?

    Like 7
    Dislike 10
    • Hmmm says:

      That tends to happen after you get fooled time and time again into trusting these guys. Even when you don’t they still go ahead and do it!

      Like 11
      Dislike 1
  17. My 2 cents says:

    Another waste of money

    Like 9
    Dislike 2
  18. Concerned says:

    Wow! Nigeria, Kenya, South Africa and the BVI. That’s quite a group.
    Is the BVI keen to join those 3 African countries on the list of most corrupt countries in the world ?
    No big surprise that Nigeria is one of the biggest investors in the BVI’s shady financial services sector. $2.9 billion of corrupt, dirty money. No wonder the UK is playing hard ball demanding more transparency.
    Maybe it’s time to start thinking of another source of income to fund the BVI government’s wasteful spending as I think the writing is on the wall for the financial services sector, it won’t be long before the US and EU really get serious and shut it all down.

    Like 21
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  19. Brad Boynes says:

    Waste.

    Like 7
    Dislike 1
  20. NDP says:

    Opportunists – left the country looking like a swamp after 8 years- the best they can do is use taxpayer money to globe trot! Britain watching every stupid move by this —— Man

    Like 11
  21. Auntie Mary says:

    This is his last lavish trip on the backs of tax payers. We will soon be delivered from these blood suckers.

  22. Kenya and Nigeria! says:

    What! I work in financial service and any business from Nigeria would be reviewed as high risk or declined. Kenya has a high rate of poverty/corruption. South Africa as relaxed money exchange laws but still a distant relation. Surely Canada, South America, NY Funds and HK funds, London Law firms are the places to court business?

  23. Political Observer (PO) says:

    It is commendable that in spite of being in a lame duck status that the Premier is trying to expand the reach of financial services in this jaunt across Africa. However, how excited will the governments of South Africa, Kenya, and Nigeria be on the BVI government visit, given that the current government is in a lame duck status?

    Why now? Why did the Premier wait this long to launch this initiative? By waiting until the 11th hour to take this 2-week trip, the Premier is creating the appearance that it is just a jaunt across Africa on taxpayers expense before leaving office.
    By the way, who is on the team for this perceived jaunt across Africa?

    No doubt, Africa is a resource-rich yet the poorest continent. It suffers from resource curse; continent is resource rich yet its people standard of living is lower than countries that are resource poor. However, Africa’s economy is poised for significant and consistent growth. Partnering with Africa, needs to be on the next government’s bucket list.

    Like 7
    Dislike 1
  24. Disappointed says:

    Reverse Robin Hood and the merry band of followers are at it again at the poor taxpayers’ expense.

    And all the time this Turd Whorl Territory to sink deeper into an abysmal state. Tears.

    Priorities please, people.

    Like 6
    Dislike 1
  25. Beanstalk says:

    Not a man will stop that man from vacationing. Nothing new here. Next.

    Like 5
    Dislike 1
  26. not the time says:

    This is not the time to be travelling at the public’s expense which we do not have right now. I still here getting wet. Don’t have a cent but still I don’t qualify for public assistance. Yes, I am employed, but my apartment is no longer habitable because it was totaled and it use to help me to pay my mortgage. I have 2 children away in college and I don’t qualify for refinance right now. I still have to walk in the bank every month and struggle to pay them. To be in this kind of situation and my head of state is globe trotting while the country broke. If there is an opportunity with the Africans then that’s good. Invite them to come at their own expense or do a video link.

  27. Disgusted says:

    Wow, the governments of BVI and Nigeria, what could possibly go wrong.

  28. Big advice, USA says:

    Be very careful doing business with the Nigerians Doc. Research the Nigerian prince scam.

  29. Sam the man says:

    Air Miles Smith at it again ! Africa has similar approaches to accountability and transparency as the No Direction Party so it will be a marriage made in heaven! He really should be focusing on his failure to issue any yearly audited accounts though but that’s clearly not going to happen!

  30. Labour says:

    Just keep Pickering off that plane. That is where the real waste of time and money would be.

  31. Vacation says:

    Excuse for vacations

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