Thirty years ago, a group of BVIslanders and Belongers got together amidst a cloud of economic uncertainty that threatened to marginalize Virgin Islanders’ involvement in the economic development of the Territory. After many months of intentional deliberations, discussions, and reflections, the BVI Investment Club was birthed on April 23rd, 1992, with a vision of “sharing in the economic development of the British Virgin Islands.
With that vision and guiding tenets and principles in place, The BVI Investment Club embarked on a journey, answering the call of their generation to step up to the plate and punch above our weight class and overcome the engrained negative cultural sentiment against the collective pooling of economic resources to achieve economic success beyond their individual capacity.
These deliberations and discussions have led members to a place of resolve and their vision of meaningful economic inclusion in the development of the British Virgin Islands could not be achieved without their collective talents, resources, wisdom, and aspirations.
The vision of the Club is grounded in five guiding tenets and investment principles that have enabled the Club to weather the inevitable storms that we were destined to go through and remain focused and humble amidst the triumphs and successes over the past thirty years.
BVIIC Tenets are:
• Mutual respect for each member as an individual.
• The common desire for BVIslanders and Belongers to share meaningfully in the economic development of the BVI.
• Willingness to sacrifice short-term benefits for long-term goals.
• Equality in investment, One man One vote.
• A deep trust and belief in the collective wisdom of the members of the Club, represented by a 2/3 majority in decision making.
The energy and excitement around the Club’s formation set the stage for the Club’s pursuit of its first investment, in compliance with their vision and guiding principles. The target was a 50% equity stake in a small cellular company with huge future potential which they were successful in accomplishing with the support of Hamilton Lavity Stoutt.
The following investments are owned by entities, independent of the Club, include:
• CCT Global Communications: A telecommunications company providing mobile, internet, and television services.
• Ocean Conversion: A water desalination company producing water for the Government of the BVI for distribution to households and businesses.
• CoralIsle Insurance: An insurance company providing home, auto, medical and life insurance.
• Village Cay Marina: A hotel, marina, and restaurant facility serving the tourism and business markets.
• Virgin Gorda Yacht Harbour: A marina, real estate, and boatyard facility serving the commercial retail and yachting sectors of Virgin Gorda.
In addition to the investments noted above, the Club also invested in purchasing a large block of land, subdividing it, adding basic infrastructure services, and selling it to nationals to achieve their dream of building their first home.
Today through entities owned independently by members of the Club is represented in the hospitality, financial services, telecommunications, and utility sub-sectors employing over 120 employees, over 1,500 shareholders with over US$ 2.8 million in dividend distributions to date and making more than US$2.million in donations to community and sponsorship events over our 30 years of existence.
The BVI Investment Club owns 100% and effectively manages their investments in Village Cay, Virgin Gorda Yacht Harbour, and CCT Global Communications.