Protecting this region from climate change is a theme of the King’s trip and was the focus of his visit to the Bonefish Pond National Park. The site was once a rubbish dump but has been redeveloped and now protects 1,235 acres of mangroves.
The King walked along a new boardwalk through the wetlands to see the conservation work being done to protect this vulnerable, low lying island from climate change.
He met students carrying out field work in the wetland waters asking them about their exams and ambitions to be marine biologists.
“We’ve so been looking forward to this,” said Joanne Smith, president of the Bahamas National Trust Council.
“We want more Bahamians to get involved in our national parks so they can use it to better themselves… we are so pleased to have the King here, this is really significant for us.”
Then it was on to the Junkanoo, where the King could be seen dancing alongside attendees dressed in feathered headdresses and bright costumes.
The history of the Junkanoo is not clear but it’s believed it emerged out of the slave trade when enslaved men and women were given time off to mark Christmas.
A small protest near the parade, which had activists holding placards with the words “Pay us what you owe us”, was moved on by the police.
The small group of protesters were from the Bahamas National Reparations Committee.
The King acknowledged the “great suffering of the past” when he first arrived in the Bahamas, as he faced calls for slavery reparations.
Noelle Nicholls, chair of the reparations committee, said :”We are demanding an apology for those crimes, and reparations for the harm that was done.”
Nicholls said the protesters’ presence “amidst the pomp and pageantry of the celebrations… are for us also a sombre occasion, because this is the King returning in a way that has still not atoned for the sins of the past.”
The King has confirmed that Commonwealth leaders will discuss the legacy of slavery at a major summit in Antigua next week.
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One of the two bidding consortia for GFL Environmental (GFL) has moved ahead in the waste-management company’s sales process.
Both of the consortia are still in the process, according to traders, citing a CTFN report that was circulating on Tuesday. Some shareholders are
Fast-track settlement is making East African payments easier—and a new strategy emerges.
This article appears in the October 2026 issue of Global Finance Magazine.
East Africa is beginning to transform the national payment systems used by millions of businesses and consumers into infrastructure for a more integrated regional market. Rather than building an entirely new platform, the emerging strategy is to connect existing systems, enabling money to move between countries more quickly and with less friction.
Rwanda and Tanzania are at the forefront of that effort, working to connect Tanzania’s Instant Payment System (TIPS) with Rwanda’s National Payment Switch (RSwitch) to create an instant-payment corridor under the Cross-Border Payment System Masterplan of the East African Community (EAC).
The work is moving beyond policy discussions into the technical, operational, and regulatory arrangements required to make the system function. Its significance, however, extends beyond faster remittances. If national payment systems become interoperable, businesses could pay suppliers, receive payments from customers, and settle commercial transactions across borders more easily than under traditional arrangements.
Small and midsize enterprises, banks, fintech companies, and mobile-money operators could all benefit if regional payments begin to match the speed and convenience of domestic transactions.
This Rwanda-Tanzania initiative offers the most immediate test of the concept, but it is not the only example of East Africa’s emerging payments architecture. Kenya’s Pesalink, the country’s instant-payment network, connected to the Pan-African Payment and Settlement System (PAPSS) in February. The partnership enables instant, round-the-clock payments from PAPSS participants to banks and mobile-money operators on the Pesalink network in Kenya, with transactions settled in local currencies.
Those two developments illustrate different routes toward the same objective. Rwanda and Tanzania are connecting their national instant payment systems directly, while Kenya is linking its domestic infrastructure to a wider continental network. Together, they suggest that African payments integration may depend less on building a single system than on making existing systems work together.
A broader regional effort is also moving into implementation. On August 24, the EAC announced the establishment of three technical working groups to support implementation of its Masterplan. The Masterplan is “anchored on four key pillars”: governance and regulation, infrastructure, inclusivity, and capacity building. It includes 20 strategic initiatives to strengthen cross-border payment systems.
Total trade for members of the EAC in 2025 is reported at $156.6 billion, including $19.3 billion among partner states, underscoring the system’s commercial implications. As goods and services move more freely across the region, the financial infrastructure supporting those transactions will also need to become easier to use.
“East Africa’s push for interoperable payments could fundamentally change the economics of regional trade,” said Robert Omotunde, executive director and chief investment officer of Lagos-based asset management and advisory firm MDU Capital. “The significance goes beyond making cross-border transactions faster or cheaper; it is about creating the financial infrastructure through which African businesses can trade more seamlessly across borders.”
As the African Continental Free Trade Area expands markets for cross-border businesses and increases demand for payment systems that support that commerce, opportunities could eventually extend beyond the EAC. Faster settlement, lower transaction costs, and greater use of local currencies could reduce some of the financial friction that still accompanies regional trade. While East Africa is beginning to connect payment systems already embedded in its banks, mobile-money networks, and the wider financial system, the region faces the challenge of ensuring those connections operate reliably across different regulatory and monetary environments.
Vincent Nwanma is a contributing writer based in Nigeria.
You don’t want to hear from me. You want to hear from Dave Roberts, the Dodgers’ manager.
The Dodgers are one loss from an abrupt ending to their season, and from a National League Championship Series sweep by the Milwaukee Brewers.
Let’s take you through the critical decisions Roberts made Wednesday night, the ones you second-guessed at home. They all pretty much backfired on him.
Situation: In the third inning, and again in the fifth inning, Tommy Edman comes to bat with Miguel Rojas on first base, none out, and the Dodgers trailing, 1-0. By the end of the fifth, the Dodgers had gone nine consecutive innings without scoring, and with a game plan of getting ahead before the Brewers’ vaunted bullpen could take over. Roberts does not ask Edman, one of the team’s most accomplished bunters, to sacrifice the runner into scoring position.
Roberts: “I just didn’t feel like giving up an out right there. … We could have bunted, but I felt I wanted to give Tommy an opportunity to drive in a run. … We haven’t been getting hits with runners in scoring position (3 for 32 in the postseason). To give up an out, to bank on getting a hit with runners in scoring position, I’d rather just try to maybe slug, hit a double.”
Result: Edman flied out both times. The Dodgers did not score in either inning.
———
Situation: In the sixth inning, with the Dodgers still trailing, 1-0, the Brewers turn to Abner Uribe, who had faced 26 batters and walked two in the postseason. Uribe walks the first two batters, and Roberts deploys his primary left-handed bench threat, Max Muncy. That takes right-handed Andy Pages out of the game; the only Dodgers with more hits than Pages this October are Kyle Tucker and Mookie Betts.
Roberts: “Abner is death on righties. You’re trying to guard against — you want to keep the inning going, and you don’t want a double play ball. Muncy’s not starting, and you want to fire that bullet in a leverage spot. First and second base, nobody out, it gives us the best chance to keep the inning going, in my opinion, and it gets Shohei up, and you have a chance to build an inning.”
Result: Muncy struck out.
———
Josue DePaula’s presence was wasted in Game 3.
(Robert Gauthier/Los Angeles Times)
Situation: After Muncy, Ohtani walks to load the bases, and Will Smith follows with a two-run double to give the Dodgers a 2-1 lead. With the right-handed Rojas due up, Roberts opts for the left-handed Josue De Paula as a pinch-hitter. Brewers manager Pat Murphy promptly replaces Uribe with left-hander DL Hall, who had been warming up. Roberts counters with the right-handed Kiké Hernández.
Roberts: “It’s a decision: Do I want Uribe facing Rojas? Then I chose De Paula, and they made the move. At that point in time, I felt we had the matchup advantage with Kiké. … For me, all the experience that Kiké’s had, I feel very confident with Kiké taking a bat with a guy on second and third, infield in.”
Result: Hernandez struck out, and so did Edman. The inning was over, and the Dodgers would not advance another man past first base the rest of the evening. The Dodgers could have used De Paula to bat against right-handed closer Trevor Megill in the ninth inning, but Roberts had already burned him.
Murphy said Uribe was coming out after Smith’s double no matter what — at that point, Uribe had thrown six strikes and 14 balls — so Roberts could have saved De Paula had he waited to see what Murphy would do.
———
Situation: Blake Snell has retired 14 consecutive batters entering the seventh inning, with the Dodgers leading, 2-1. It’s the first time the left-handed Snell has pitched beyond the sixth inning this season, with the right-handed Andrew Vaughn leading off and the left-handed Jake Bauers and Garrett Mitchell to follow. Evan Phillips is warming up in the Dodgers bullpen.
Roberts: “His stuff was really good. I don’t think they were seeing him well. I was trying to get him three more hitters. We had Evan for that fourth hitter.”
Result: Vaughn walks, on six pitches. Bauers homers, on 11 pitches. The Brewers have the lead, 3-2.
Roberts: “Hasn’t given up a homer all year, but it just — it’s baseball. For me, I felt good with where Blake’s stuff was at. You’ve got to give Bauers credit.”
Situation: By that time, Snell is at 99 pitches, two shy of his season high, after the exhausting battles with Vaughn and Bauers. Roberts sticks to his plan: Snell for Mitchell, then Phillips for the right-handed Cooper Pratt.
Result: Mitchell homers, giving the Brewers a 4-2 lead. Hall and Megill combine for 3 1/3 innings of scoreless relief, and the Dodgers are one defeat from winter vacation.
CAPSS has entered its pilot phase, bringing real-time local currency payments to 11 Caribbean nations.
This article appears in the October issue of Global Finance Magazine.
The long-awaited CARICOM Payment and Settlement System (CAPSS), designed to transform cross-border payment settlement across the Caribbean, has entered its pilot phase, putting the region’s vision for real-time payments in local currencies into practice across 11 jurisdictions.
Developed by the region’s central banks in partnership with the African Export-Import Bank (Afreximbank), CAPSS connects national payment systems to enable real-time cross-border payments in local currencies, allowing businesses and consumers to bypass the U.S. dollar as an intermediary.
“While background settlements will still involve U.S. dollars among central banks, day-to-day transactions will use local currencies — a key innovation with broad potential,” said Timothy Antoine, governor of the Eastern Caribbean Central Bank, which serves eight Caribbean countries and territories that share a common currency.
The project aims to boost intra-CARICOM trade, with goods exports to regional partners accounting for roughly 8% of the bloc’s total goods exports, according to the IMF.
Settling directly in local currencies cuts foreign exchange conversion costs and makes smaller cross-border transactions worthwhile, which matters most to small- and mid-sized businesses, who pay the highest relative costs for international payments.
“If for instance, I am in Barbados and I want to buy goods from Trinidad and I don’t have the U.S. dollars to make that payment, then it becomes simply wishful thinking. We think that stifles trade,” said Okechukwu Ihejirika, acting chief operating officer at Afreximbank’s Caribbean office.
CAPSS also offers a route around the region’s shrinking correspondent-banking network. Research by the Economist Intelligence Unit in 2024 found that about 40% of correspondent banks had withdrawn from the Caribbean over the previous 15 years.
An IMF working paper published in May, “Mind the Gaps: Caribbean Trade Patterns and the Connectivity Constraint,” found cross-border banking relationships lift CARICOM trade at less than half the global rate.
The system is modeled on the Pan-African Payment and Settlement System, or PAPSS, launched by Afreximbank and the African Union in 2022. PAPSS provides a framework for real-time cross-border payments in local currencies and now connects banks and payment providers across 16 African countries.
The Caribbean push began in October 2023, when every CARICOM central bank adopted PAPSS as its preferred settlement system.
A proof of concept took place in February 2025 at the Central Bank of The Bahamas, where a live payment between Barbados and The Bahamas settled in each country’s own currency, with no dollars passing between them. Afreximbank and PAPSS provided a design already running in Africa, while payments software firm Montran Corp. built the connection between the two national systems. Trinidad and Tobago’s central bank took part, and Suriname sent an observer.
Governors expanded the test last November. CARICOM’s central bankers meet again in November, the next point at which the timetable could firm up.
Beyond the pilot, central banks plan to link CAPSS to PAPSS, building a payment bridge between Caribbean and African markets.
Thomas Monteiro is a contributing writer based in Spain.
President Masoud Pezeshkian says Iran “has never avoided” dialogue with the US, even though it’s been attacked three times during negotiations.
Published On 2 Oct 20262 Oct 2026
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