Antigua and Barbuda will expand opportunities for citizens to own shares in state-linked enterprises as part of its “empowerment capitalism” agenda, Governor General Sir Rodney Williams announced Thursday during the Throne Speech.
Sir Rodney said the policy is designed to give ordinary Antiguans and Barbudans a stake in profit-making ventures, allowing families to build generational wealth instead of relying solely on low-interest savings accounts. He said the government’s goal is to ensure that “every adult in Antigua and Barbuda is afforded an opportunity to participate in wealth-creation across generations.”
The Governor General pointed to the West Indies Oil Company as the model for the programme. Under that initiative, he noted that “10% of the government’s 51% ownership of shares in West Indies Oil Company (WIOC) were sold to ordinary Antiguans and Barbudans,” giving residents direct access to corporate dividends and investment returns.
Sir Rodney said similar opportunities will follow as the state gradually opens share ownership in other enterprises. According to the Throne Speech, “my Government’s ownership in banks, a dredging company, hotels, State Insurance and other profit-making capitalist enterprises will in part be sold to our citizens.”
To manage these assets and reinvest future returns, the government has created the National Asset Management Company (NAMCO). Sir Rodney explained that NAMCO “serves as the beneficiary of the earned dividends that are paid to my Government as a shareholder in private enterprises.” These funds will be used to purchase stakes in additional companies, further expanding citizen access to investment opportunities.
The Governor General described the strategy as a long-term shift in the country’s economic model, stating that “over the ensuing 25 years of this 21st Century, or by the year 2050, history will absolve my Government.”
The empowerment capitalism programme is expected to grow in 2026 as details on new share offerings and public participation mechanisms are announced.