How Will Online Companies Registry Deal with Shadow Companies Entering Contracts with G.O.B.?

Chris Coye

Before now, there have been businesses that were registered but whose actual owners were not the persons whose names were on the register. And in particular instances there are, sometimes, suspicious conflicts of interest as it pertains to shadow companies that enter into contract with the government. A classic example of this occurred when a question was raised prior to the 2020 general elections with regard to the Brad’s Boledo contract. Minister of State in the Ministry of Finance, Chris Coye, said he would recommend that there be full disclosure of all the parties involved in those companies.

Chris Coye, Minister of State, Ministry of Finance

“Any person or entity that looks to conduct business or enter into any contract with the government should fully and absolutely disclose directors, shareholders and ultimate beneficial owners. That would deal with that problem immediately, directly and in a simple manner. That was not available, that was not done when it concerned the Boledo contract and so you had a problem but if that was done you wouldn’t even have to try and find anything in, where was it, St Lucia or wherever it was. So I’m saying that it would be my suggestion that there is full and absolute public disclosure for any contractor with the government.”