National Asset Management Company Now Has Over 100 Million Dollars In Assets Since the Empowerment Capitalism Paradigm

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The National Asset Management Company, the investment arm of the Government, (NAMCO) shared financial statements in Cabinet meeting revealing it has assets that exceed $100 million dollars.

This is as a result of an innovative approach introduced that guided the Government to consume less, and to set aside monies for investment.

It is called “Empowerment Capitalism” which also promotes a greater involvement of nationals of Antigua and Barbuda in the productive sector which creates wealth.

Empowerment Capitalism is a new paradigm implemented by the Gaston Browne administration shortly following the 2014 general elections.

The Government does not compete with private sector actors, but makes large investments which citizens are unable to make because they may not have the resources or the inclination to take risks.

According to the Chief of Staff, audited statements will be made available to the Parliament in due course.

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12 COMMENTS

    • Hey Gaston cheerleader sorry Rupert Mann, where are these asset located? If it’s in Antigua and Barbuda did they use our money to buy what should’ve belong to us. I love how they put it out there it exceeds 100 million, let’s say you own something and the market/you value it for the same but for years your trying to sell and no one is buying Then you find yourself in a financial squeeze so you sell for less than what the market/you valued it for.
      Would you say that your asset exceeded what it was sold for. It’s better if they had save tax’s payers money

      • Let me try and educate you a bit. Did you ever hear the government purchase WIOC with tax payers money? next. When Papa Bird bought all the Syndicate Lands, who did he bought it for? So how come you now still have to buy government land if you believe it is yours. How much land does the government own and what is it worth? If you own land why is it you still are required to pay property tax for your land? And since you own land can you do with it whatever you want since it is yours?

  1. One could have a $100 million in assets.What percentage is liquidity? Cash on hand versus real estate sitting doing absolutely nothing.

    • Good question. because when the PM declared that he has $30 million in net assets, everyone wondered where he has all that cash stacked away and how he accumulated all that wealth. Stanford bought Guiana Island for $65Million and turned around and value it for $300million.
      Whether the Asset is sitting doing absolutely nothing that I’m not sure off. I believe that is where the board comes in. And the board consist of Public Servants. The FS the AG, the Deputy FS and two ministers. And the company has a GM and other staff members. But it is still a young company and needs time to grow.

      • Sidelines: FYI.There are 3 Government Ministers of the Board at NAMCO.This is according to Melford Nicholas.They are Robin Yearwood,Melford Nicholas and Chet Greene.

  2. Who does that belong to since NYAMCO is a private company? If government changes and NYAMCO is disbanded, as ecpected, what happens to money or assets held by NYAMCO?? It would be disheartening to learn that it belong to someone else. I hate smartness or slight of hand and NYAMCO seems like it.

    • You guys need a lot of education when it comes to finance and economics. NAMCO is a Publicly owned Private company. So it is not a Statutory Company. It’s more like a State Owned Enterprise. The government has ventured into entrepreneurship by buying and or incorporating companies under the Companies Act. What you should ask is who is holding the shares on behalf of the government. Cause government has no name and is not incorporated. But as they say government is continuous. So today ABLP in power and tomorrow UPP or DNA. who knows. In order to sell government assets we need to have some approval by Cabinet or perhaps even Parliament. That is why you see we now have the issue with the buses. They were government property and ended up in private hand, without any Cabinet decision to support the sale or transfer for that matter. Even when it comes to land purchase cabinet needs to give approval for the transfer of Crown Land into Private hand. So you will not just wake up one day and find out NAMCO belongs to someone else.

  3. BLACK – MAN

    WHEN IS THE NEXT MARCH ? HOPE YOU ATTENDED THE PAST MARCHES ( I HAVE MY DOUBTS)

    PLEASE BUY YOUR NIKE SHOES BECAUSE YOU HAVE 4 YEARS TO MARCH.

    DNA IS MUCH MORE RELEVANT THAN UPP.WE LOVE TO SEE THE OPPOSITION PARTIES FIGHTING .

    ONE MORE QUESTION BLACK-MAN …….IS CLEON ATHILL AND SERPENT IN THE NEXT ELECTION. AWAIT YOUR REPLY.

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