Barbados government withdraws from sugar industry worker ownership plan

A three-year initiative to transfer ownership of Barbados’ sugar industry to its workers has collapsed following the government's withdrawal from signed contractual agreements. CoopEnergy Barbados Chairman, Lieutenant Colonel Trevor Browne, described the development as “devastating,” noting that the plan aimed to transform the traditional plantation system by turning laborers into shareholders, owners, and directors.

The divestment plan intended to transfer operations of the Agricultural Business Company Limited (ABC) into joint private ownership between CoopEnergy and the sector's workers. This move was originally driven by International Monetary Fund (IMF) loan conditions tied to Barbados’ economic reforms. The industry, previously managed by the Barbados Agricultural Management Company (BAMC), has reportedly cost taxpayers approximately $20 million annually in subsidies.

Minister of Agriculture, Food and Nutritional Security Dr. Shantal Munro-Knight stated she was attempting to gather details regarding the matter and had only recently seen the press release from CoopEnergy.