A national tragedy.
That was the reaction of former Prime Minister Owen Arthur to the news yesterday that the board of directors of Sagicor Financial Corporation had voted unanimously to move the company’s headquarters out of Barbados as a direct result of the country’s consistent downgrades out of investment grade.
The company’s board is expected to decide in the next few months to where the headquarters will go but the WEEKEND NATION has been informed that key officials in Trinidad have been lobbying for the financial giant to move to Port-of-Spain.
In an immediate reaction Arthur said: “This is a Barbadian tragedy. Sagicor as we know started as the Barbados Mutual and it was the Barbadian representation of what a Barbadian company could become. I don’t think we want to live in a world where companies of Barbadian origin feel they cannot function successfully in Barbados.”
Please read the full story in today’s Weekend Nation, or in the eNATION edition.
