“VENGEANCE IS NOT MINE”: PM says his administration will not interfere with WSC investigation

NASSAU, BAHAMAS — Prime Minister Dr Philip Davis yesterday made clear that his administration will not interfere in the ongoing investigation into matters related to the Water and Sewerage Corporation (WSC), insisting that the government will allow the independent investigator to “do what they have to do”. Vengeance is not mine. I’m not looking for […]

PAYING ITS DUE: Water Corp cuts outstanding debt to main supplier down to nearly $15M

NASSAU, BAHAMAS — The Water & Sewerage Corporation’s (WSC) main supplier said yesterday that so far it has received nearly $15 million towards the corporation’s outstanding debt, which was just over $21 million at the end of its second quarter. David Sasnett, chief financial officer of the BISX-listed, Cayman-headquartered water solutions provider, said during a […]

WSC’s near $20M debt adversely impacting liquidity of Bahamian subsidiary, says Consolidated Water

NASSAU, BAHAMAS — Consolidated Water recently noted that delays in collecting on nearly $20 million in receivables from the Water and Sewerage Corporation (WSC) have adversely impacted the liquidity of its Bahamas subsidiary. The BISX-listed water supplier, in its annual year-end 10-K filing with the US Securities & Exchange Commission (SEC), noted: “CW-Bahamas’ accounts receivable […]

WSC signs MOU with IsraAID for Abaco groundwater management projects

Similar project being implemented on GB NASSAU, BAHAMAS — The Water and Sewerage Corporation (WSC) recently signed a memorandum of understanding (MOU) with IsraAID for the development and implementation of a Sustainable Groundwater Management Project (SGMP) on Abaco following the passage of Hurricane Dorian in 2019. The contract was signed by WSC Executive Chairman Adrian […]