Cable Bahamas Ltd. is committed to the principles of good corporate governance. The company has in place an Audit Committee which reports to the Board of Directors. The Audit Committee has broad oversight of the company’s operations. Extensive internal control procedures form an integral part of the organization and ensure the accuracy of financial information and the legitimacy of all transactions. An annual audit is conducted by an independent professional auditing firm and provides an opinion as to whether the financial results are in accordance with International Financial Reporting Standards. The company’s in-house legal counsel oversees the company and ensures that it consistently complies with various laws, regulations and policies.
The Cable Bahamas Cares Foundation (CBCF) is a nonprofit, charitable organisation through which the company ensures that educational, social and cultural development is encouraged among Bahamian people. This is an aspect of service that the company finds most rewarding and is extremely proud of.
Cable Bahamas commits a percentage of its profits to the foundation each year to assist with funding youth-oriented educational programmes, community projects and other positive initiatives. Since its inception in 1998, the CBCF has disbursed $2,594,831.61 representing 490 grants to local students and community organisations. On average, grants awarded by the CBCF total $5,500.
Cable Bahamas also proudly sponsors numerous civic and non-profit organisations, namely:
- The Sister Sister Organization – bringing awareness to breast cancer
- The Bahamas Heart Association
- The Kiwanis Club of Nassau
- Rotary International
- The Bahamas National Trust
- The Governor’s General Youth Award Programme
- The Gentleman’s Club
The company and its employees also give of their time and resources to other charitable organisations such as the U.S. Embassy Primary School Reading Initiative and the annual Food Drive for The Salvation Army.