Across The Water

The Region 6 Wrap: M&F's Optus Vote, Caribbean Exports, Freight Fees

BEJ Media — Fri, 06 Nov 2026 05:07:11 -0800

The week of Nov 2 in the business of the African diaspora: M&F Bancorp shareholders approve a $105 million sale to Optus, Caribbean exports jump 19.1% on Guyana and Suriname, Caribbean business asks Washington to keep its shipping-fee exemption, Ian Thomas tops Britain's 2027 Powerlist as the Bank of England raises rates, and Brazil pauses its rate cuts. Plus Caribbean currencies and the latest Black unemployment rate.

What we cover

Nearly 74% of M&F Bancorp's shares entitled to vote approved the $105M all-cash sale to Optus on Nov 4 (preliminary); four regulators still must sign off, with closing targeted by year-end (American Banker).
Caribbean goods exports rose 19.1% in the first half of 2026, driven almost entirely by Guyana and Suriname; Guyana was 62% of Caribbean exports in 2025 (IDB, Kaieteur News).
The CARICOM Private Sector Organisation asked the US on Oct 29 to make permanent the region's exemption from port fees on Chinese-built ships; carriers serving CARICOM fell from more than 15 to five (Jamaica Observer).
The Bank of England raised Bank Rate to 4% on Nov 5, 8–1; Brazil held its Selic at 13.75% on Nov 4 after five cuts (Sovereign Magazine, Rio Times).
US Black unemployment was 7.0% in September vs 3.6% for white workers; the October report is due Nov 6 (BLS).

Chapters
(0:00) Cold open
(0:25) North america
(1:21) Caribbean
(2:24) Europe
(3:02) Latin america
(3:28) Markets
(4:15) Next week
(4:41) The bottom line

Daily diaspora business news: desk.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Have expertise or a story to tell? Become a source for The Black Executive Journal: sources.blackexecutivebrief.com

Sources

Across the Water is a Black Executive Journal series explaining the money and business of the African diaspora: the Caribbean, the Americas and Europe.

The Passport Deadline: Europe vs. Caribbean Citizenship by Investment

BEJ Media — Thu, 05 Nov 2026 05:07:42 -0800

By Nov 12, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis and Saint Lucia must tell the European Union whether they will close their citizenship-by-investment programmes by June 2028 or risk losing visa-free travel to Europe. This episode explains how the passport trade works, how much the islands depend on it, Brussels' case and the Caribbean's, and Antigua's offer to close by 2030.

What we cover

Citizenship-by-investment inflows equalled 34.8% of Dominica's GDP in 2023; across the five states, government CBI revenue averaged 6.5% of GDP in 2019–2023 (IMF).
St Kitts and Nevis's CBI fees fell from 25.8% of GDP in 2022 to 6.0% in 2025, and its fiscal deficit widened to 11.7% of GDP (IMF).
EU Regulation 2025/2441, in force since Dec 30, 2025, makes running an investor citizenship scheme a ground to suspend visa-free access; Vanuatu lost its waiver in 2024 (EUR-Lex, Council of the EU).
The European Commission asked the five states in June to close their programmes by June 1, 2028; formal answers are due Nov 12 (Reuters).
Antigua and Barbuda offered on Oct 30 to close by 2030 if the EU helps replace the revenue; the EU has not said whether it agrees.

Chapters
(0:00) Cold open
(0:25) The product
(0:56) The money
(1:56) Europe's case
(2:24) The ultimatum
(2:48) The caribbean case
(3:13) Antigua's offer
(3:45) Beyond the budget
(4:06) What to watch
(4:42) The bottom line

Daily diaspora business news: desk.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Partner with us: become a BEJ sponsor: www.blackexecutivebrief.com/sponsors

Sources

Across the Water is a Black Executive Journal series explaining the money and business of the African diaspora: the Caribbean, the Americas and Europe.

The Black Bank Merger: M&F, Optus and a Rival Bid in Durham

BEJ Media — Wed, 04 Nov 2026 07:22:50 -0800

Shareholders of Mechanics and Farmers Bank, founded in 1907 on Durham's Black Wall Street, vote on Nov 4 on a $105 million cash merger with Optus Bank of Columbia, South Carolina. This episode explains the deal, why both banks say they need scale, the rival bid from Greensboro's Triad Business Bank, and what the vote means for a sector that keeps shrinking.

What we cover

Optus agreed in July to buy M&F for about $105 million in cash; the combined bank would hold about $1.27 billion in assets across 10 locations (Banking Dive, American Banker).
M&F's legal lending limit is $11 million; combined, the bank could lend about $20 million to one borrower (ABC11).
The Chicago Fed counted 33 Black-owned banks in 2010 and 21 in 2022; FDIC data cited by American Banker put the count at 17 this March. Counts vary by definition.
Triad Business Bank offers $53.50 a share in cash for up to 25% of shares, the rest in stock; Optus pays up to $53.30 in cash, $6.73 of it contingent. M&F's board unanimously backs Optus.
Meetings on Oct 7 and Oct 20 were adjourned; the vote reconvenes Nov 4 at 10 a.m. ET. The deal also needs federal approval.

Chapters
(0:00) Cold open
(0:27) Black wall street
(0:53) The deal
(1:30) Why scale
(1:58) A shrinking sector
(2:19) The rival bid
(3:21) The capital
(3:53) The vote
(4:15) What to watch
(4:48) The bottom line

Daily diaspora business news: desk.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Shop The Black Executive Journal: shop.blackexecutivebrief.com

Sources

Across the Water is a Black Executive Journal series explaining the money and business of the African diaspora: the Caribbean, the Americas and Europe.

The Reparations Bill: What the Caribbean Is Asking Britain For

BEJ Media — Tue, 03 Nov 2026 09:04:14 -0800

Commonwealth leaders are meeting in Antigua and Barbuda, and Caribbean governments have made reparations for slavery the headline issue. In 1833 Britain paid £20 million, about 40% of government spending, to slave owners, not the enslaved. This episode explains what the Caribbean is asking for, the estimates of what repair would cost, and where London now stands.

What we cover

CHOGM 2026 runs Nov 1–4 in St John's, Antigua and Barbuda; the CARICOM Reparations Commission calls it the "reparations CHOGM."
After the Slavery Abolition Act 1833, Britain paid £20 million to slave owners, about 40% of government spending that year; the loan was finally repaid in 2015 (Full Fact).
In March 2026 the UN General Assembly declared the transatlantic slave trade the gravest crime against humanity: 123 in favour, 3 against, 52 abstentions, including the UK.
A 2023 Brattle Group report for the University of the West Indies estimated reparations at $100–131 trillion, including about $24 trillion from Britain. These are estimates no government has accepted.
UK Prime Minister Andy Burnham says he is open to a formal apology but has ruled out reparation payments, offering debt help instead: longer repayment and lower interest rates.
King Charles told the summit on Nov 3 that the slave trade fills his soul with "the most profound personal sorrow," but did not apologise.

Chapters
(0:00) Cold open
(0:25) The summit
(0:47) The ask
(1:25) The precedent
(1:44) The bill
(2:25) London's answer
(3:07) The debt
(3:36) Across the water
(4:12) What to watch
(4:47) The bottom line

Daily diaspora business news: desk.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Reach Black founders, investors and executives: advertise with The Black Executive Journal: www.blackexecutivebrief.com/advertise

Sources

Across the Water is a Black Executive Journal series explaining the money and business of the African diaspora: the Caribbean, the Americas and Europe.

Guyana's Oil Boom: The World's Fastest-Growing Economy Is in the Caribbean

BEJ Media — Mon, 02 Nov 2026 19:49:20 -0800

The IMF projects Guyana's economy will grow 22.3% in 2026, the fastest of any country and more than double the next. Ten years after its first offshore oil discovery, crude now earns more than nine of every ten dollars Guyana makes from exports. This episode explains how the boom works, who it is reaching, and what could go wrong.

What we cover

The IMF's October 2026 World Economic Outlook projects 22.3% growth for Guyana this year, first in the world; Taiwan is next at 10.7%.
ExxonMobil's Liza-1 well found oil in 2015; production began in December 2019 and passed 900,000 barrels a day by the end of 2025.
Crude exports earned US$15.05 billion in the first half of 2026, about 93% of all export earnings (Mid-Year Report).
Under the 2016 production-sharing agreement, Guyana takes a 2% royalty; companies recover costs from up to 75% of output; remaining profit oil is split 50/50.
The Natural Resource Fund held about US$4.1 billion at the end of April 2026; the IMF says more of any windfall should be saved.
Venezuela claims the Essequibo region, about two-thirds of Guyana's land; the ICJ heard the case in May 2026 and its ruling is pending.

Chapters
(0:00) Cold open
(0:21) The place
(0:42) The discovery
(1:03) The growth
(1:35) The deal
(2:02) The savings
(2:20) The payoff
(2:41) Across the water
(3:17) The neighbourhood
(3:38) The risks
(3:56) What to watch
(4:25) The bottom line

Daily diaspora business news: desk.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Have news to share? Distribute your press release on the BEJ Newswire: www.blackexecutivebrief.com/bej-newswire-press-release

Sources

Across the Water is a Black Executive Journal series explaining the money and business of the African diaspora: the Caribbean, the Americas and Europe.