The Tribune

By KEILE CAMPBELL

Tribune Staff Reporter

kcampbell@tribunemedia.net

THE scale of Sebas Bastian’s business dealings with the government has been disclosed as he seeks to become MP for Fort Charlotte, with more than 20 contracts and agreements spanning direct arrangements with public agencies and commercial leases for property and vehicle rentals.

The filings come alongside similar disclosures from senior party figures, including Deputy Prime Minister Chester Cooper, as candidates comply with constitutional requirements to declare interests in government contracts.

Mr Bastian’s disclosure, published under Article 48 of the Constitution, outlines both direct and indirect interests, including agreements with Bahamas Power & Light, the Water & Sewerage Corporation, and the National Insurance Board related to the provision of electricity, water and social insurance services tied to employment.

It also details indirect interests through commercial lease arrangements involving office and warehouse space rented to public agencies, including the Public Hospitals Authority, the National Insurance Board and the Bahamas Bureau of Standards.

The filing lists contracts tied to EV Motors Ltd, including vehicle lease agreements with the Ministry of Finance, BPL and BTC for periods of up to 60 months. One agreement covers the lease of 62 vehicles to the Ministry of Finance.

It further outlines insurance brokerage arrangements through BMGIA Insurance Ltd, acting as broker of record for several public sector entities, including the Civil Aviation Authority, the Ministry of Tourism, the Public Hospitals Authority, Nassau Flight Services, Sandilands Rehabilitation Centre and the Bahamas Union of Teachers.

A heads of agreement dated October 25, 2022, involving Venetian Village Holdings Ltd and related entities, is also disclosed, with concessions of up to 20 years. The timeline aligns with the $200 million Venetian Village development in western New Providence previously reported by Tribune Business. The filing also references an agreement with the Ministry of Works and Family Island Affairs for the construction of a thoroughfare tied to development activity.

Earlier this month, Mr Bastian disclosed that a substantial portion of wealth linked to him is held in trusts valued at about $160 million, wealth he does not control.

He reported $28,945,545 in total assets, $930,000 in income and liabilities of $175,000, placing him among the highest-declared earners in the race.

In a rare note attached to his declaration, which he said was intended to boost transparency, Mr Bastian said he is a beneficiary—but not the sole beneficiary—of several trusts established before his entry into public life.

He said the trusts hold a substantial portion of his family’s assets and business interests but that, as a discretionary beneficiary, he has no legal ownership or control over them and does not include them in his personal declaration.

Mr Cooper’s filing, meanwhile, disclosed interests in office space rental agreements and insurance-related arrangements involving entities such as the Ministry of Foreign Affairs, Nassau Airport Development Company, the Education Loan Authority and the Disaster Risk Management Authority. Mr Cooper has reported a $28m net worth, up from $14.8m in 2021 and $7.9m in 2017. He is one of the principal owners of BAF Financial & Insurance (Bahamas), the former British American Insurance Company of The Bahamas.

Marco City candidate Edward Whan II listed agreements for janitorial services across 14 locations, along with warehouse and office rentals involving Control Chemicals Freeport Ltd, the Grand Bahama Health Services/Public Hospitals Authority and the Ministry of Public Service, with contracts running from July 2025 to June 2030.

He also disclosed a financial interest in Cash N Go Ltd, which holds collection agreements with agencies including BTC, BPL, the Water & Sewerage Corporation, Bahamasair, Bahamas Immigration and DigiPay.