A group of young entrepreneurs in Bridgetown has modernised Barbados’ coastal fishing industry by introducing mobile banking, fuel micro-loans, and instant digital settlement with buyers.
Fixing a broken cash cycle
Fishing incomes in Barbados have long been constrained by delayed payments, high fuel costs, and informal financing. The new initiative tackled these issues by equipping fishers with mobile banking tools and access to short-term fuel loans.
Payments from restaurants and hotels now settle instantly, reducing income volatility and improving trust across the supply chain.
Export growth and family stability
The project currently supports 140 families, with seafood exports from the port rising 27 percent this year. Fishers can now plan trips more efficiently, invest in equipment maintenance, and reduce post-catch losses.
Digital records have also enabled easier compliance with export standards, opening access to higher-value markets.
Sustainability through transparency
Improved financial tracking has helped align fishing volumes with sustainability goals. Catch data and payments are recorded digitally, supporting better resource management.
“The ocean fed us before. Now technology helps us protect and grow it,” says project manager Aisha Clarke.
A modern coastal economy
Barbados’ experience shows how smart finance can revitalise traditional industries without disrupting cultural identity. By modernising payments rather than practices, the fishing sector gains resilience in a competitive tourism-driven economy.
Newshub Editorial in the Caribbean – 30 December 2025
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