Beautiful Virgin Islands

Monday, Oct 06, 2025

bVI looking to tap into African business market - Hon Wheatley

bVI looking to tap into African business market - Hon Wheatley

Deputy Premier and Minister for Natural Resources, Labour and Immigration, Hon Vincent O. Wheatley says the Virgin Islands (BVI), as part of diversifying its business services and sectors, will be looking to tap into the African business market, starting with South Africa as a new prospect.

"One of the things that Premier [Andrew A. Fahie] has dedicated himself to doing is trying to diversify the economy as much as possible, so we're not only diversifying our economy but diversifying or markets in the same. So coming up in the next few days we will be travelling with the IFC [International Finance Centre] and we are going to be doing an exploratory mission to Africa," Hon Wheatley said on Tuesday, October 8, 2019.


Huge Potential in Africa

The Minister was at the time speaking on public radio, ZBVI 780am with Claude O. Skelton-Cline on the 'Honestly Speaking' show.

"The African market is a huge market, basically untapped by us," he pointed out while noting that the Virgin Islands will explore all avenues to tap into the continent's business sector.

"We are big in international finance, but we mainly deal with the European and North American markets, and we are saying to ourselves why don't we just look a little wider afield... what about Africa? Africa is doing a tremendous amount of business that we could be getting a piece of that pie."

Rebranded from the BVI International Finance Centre in 2005, BVI Finance is the voice of the Virgin Islands’ financial services industry; marketing and promoting its products and services, as well as managing its reputation as an offshore financial centre.


Business Tourism

Further, according to Hon Wheatley, starting with South Africa, the plan is to meet with business leaders in the country to bring awareness to the services being offered by the Virgin Islands.

"One of the things we are also trying to do is to create business tourism. We want folks to understand [that] not only is the BVI a good place to do business but a great place to also visit," he said.

"That's why you see we're doing so much work keeping our environment pristine, doing the beach policy," Hon Wheatley noted.

Over the years, the VI has established itself as the leading provider of offshore financial services through business-friendly regulatory regime and environment. The territory has also maintained a heightened presence at conferences and trade events in core and emerging markets.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
×