The Visionary Leadership at The Bahamas Development Bank through Strategic Investments!
With a deep commitment to integrating financial principles to drive economic and social advancement, Nicholas aims to create a meaningful impact through taxation systems and smart investments.
Nicholas Higgs, a proud Bahamian, was appointed as the youngest Managing Director in the history of The Bahamas Development Bank (BDB). His extensive experience in development finance, research, and capital raising, has prepared him to take on the helm of BDB.
His roles at CFALthe Access Accelerator Small Business Development Center (SBDC) and currently The Bahamas Development Bank have deeply embedded in him the values of leadership, service, and continuous improvement.
His motivation is derived from strong academic training, personal passion, and professional aspiration to see economies thrive through innovative financial solutions and opportunities. His youthful perspective, combined with the wisdom garnered from work experience and mentorship from industry experts, enables him to connect with all generations of BDB team members, entrepreneurs, and innovators.
These experiences strengthened his belief in the transformative power of small businesses and community-based development. Now at BDB, he maintains this mission by emphasizing programs that support local entrepreneurs and promote equitable growth.
Let us learn more about his journey:
The Youngest Managing Director
Behind the Bahamas Development Bank (BDB) Managing Director title is a proud Bahamian deeply committed to using financial principles practically in the reach of economic and social advancement.
Nicholas’s journey into development banking began with an initial interest in law, followed by forays into accounting and economics, before recognizing finance as the best fit to create a meaningful impact through fiscal systems and strategic investments.
Driving Economic Progress Through Strategic Investments
The Bahamas Development Bank has a rich legacy as a pivotal financial institution established in 1974 to support the economic development of The Bahamas.
With a clear mandate to foster and promote industrial, commercial, and economic growth, BDB has been instrumental in financing numerous projects that have spurred progress across various sectors, including tourism, agriculture, and manufacturing.
Rooted in a visionary approach to harnessing local resources and talents, BDB continues to build on this foundation, adapt to the evolving needs of the economy, and maintain its position as a catalyst for development and innovation, particularly with its recent $30 million capitalization.
A Youthful Visionary at the Helm
As the youngest Managing Director in the history of The Bahamas Development Bank, Nicholas embodies the qualities of fresh creativity, energy, and a willingness to challenge the status quo—essential for driving innovation.
His approach involves embracing teamwork, fostering a culture of continuous learning, and encouraging entrepreneurial thinking within BDB. This connection is vital, as BDB both embraces what has historically worked well and supports new ideas to achieve its mandate of economic development and progress.
The Transformative Leadership
Nicholas attributes the success of many projects to a combination of strategic vision and learning from those before him. Advised from a young age to focus on developing a mentorship network and seeking advice from industry experts, he was more prepared when navigating uncharted waters.
At The BDB, Nicholas aims to harness the power of teamwork, innovative financing solutions, and a client-centric approach to drive achievements. By fostering a culture of collaboration, encouraging innovative thinking, and maintaining a relentless focus on delivering value to clients, his transformative leadership drives impactful outcomes for BDB and the broader Bahamian economy.
Empowering Bahamian Entrepreneurs
During his tenure at the Access Accelerator Small Business Development Center, Nicholas and his team made significant strides in supporting micro, small, and medium enterprises (MSMEs) across The Bahamas. This includes over $60M to 1,900+ entrepreneurs throughout The Bahamas
BDB focuses on providing accessible financing programs to ensure MSMEs can thrive and contribute to the economic fabric of the country. Community development is at the heart of BDB’s mission, and through strategic investments and partnerships, the organization will continue to uplift communities and create opportunities for all Bahamians.
The Esteemed Academic and Professional Credentials
Nicholas’s academic background and professional certifications have been instrumental in shaping his career and preparing him for his role at The Bahamas Development Bank (BDB). Completing the Chartered Financial Analyst (CFA) program and the Series 7 examination equipped him with a deep understanding of financial markets, investment analysis, and ethical practices.
These credentials have provided him with a solid foundation to navigate complex financial landscapes and make informed decisions. Additionally, his academic journey has given him a broader perspective on global financial trends and their implications for local development.
As Managing Director of BDB, these insights and skills are crucial in guiding the organization’s strategic direction, evaluating investment opportunities, and ensuring that BDB operates with the highest standards of professionalism and integrity.
Alpha Phi Alpha and Toastmasters
Nicholas’ active involvement in organizations like Alpha Phi Alpha Fraternity Incorporated (Iota Epison Lamda Chapter) and Toastmasters 1600 has significantly enriched his personal and professional life.
Through Alpha Phi Alpha, he has engaged in numerous community service initiatives, such as the Alpha Phi Alpha Honours Day Convocation, where $2.4 million worth of scholarships were given to Bahamian students to go to college.
Similarly, Alpha Phi Alpha, in collaboration with Alpha Kappa Alpha Sorority Incorporated, hosted the HBCU 242 College Fair, where there were $4 million ($14 million collectively since the program began) worth of scholarships offered to high school students to go to college in the United States.
His involvement in Toastmasters has honed his communication and leadership skills, enabling him to articulate his vision effectively and inspire others. At The Bahamas Development Bank (BDB), these values inform his leadership approach as he builds a culture of excellence, fosters community engagement, and leads with empathy and integrity.
Expanding Access to Financing
One of the most significant challenges facing The Bahamas Development Bank (BDB) is meeting the demands for business loans in The Bahamas. With a resurgence of entrepreneurial innovation and heightened interest in the country, BDB’s mandate in fostering this development has never been more crucial.
Following the successful approval of a $30 million funding round, BDB is now preparing for another round to cater to the escalating demand for financing across small, medium, and large-scale enterprises.
BDB is excited to launch innovative financial tools that the bank has not offered previously, including cash flow lending, brokerage services, and consultancy. Adding these to its products and services ensures that Bahamian entrepreneurs can benefit no matter which island they are on and regardless of their position in their entrepreneurial journey.
Podcast Empowering Entrepreneurs
Nicholas co-founded Mastering Finance: The Podcast with his co-host, Jarrel Hall, to equip entrepreneurs with essential tools and skills for success. Recognizing differing preferences for long-form or short-form content among today’s entrepreneurs, the podcast utilizes both formats to assist them in accessing crucial information. Topics covered include “how to create a great business plan,” “how to raise capital,” and “what to know before starting a business,” often featuring industry experts to provide actionable and practical insights.
I co-founded Mastering Finance: The Podcast with my cohost, Jarell Hall, to equip entrepreneurs with essential tools and skills for success. Recognizing differing preferences for long-form or short-form content among today’s entrepreneurs, we utilize both formats to assist them in accessing crucial information.
Topics covered include “how to create a great business plan,” “how to raise capital,” and “what to know before starting a business,” often featuring industry experts to provide actionable and practical insights.”
Charting a Vision of Innovation and Inclusive Growth
Nicholas’s vision for the future of BDB aims to establish it as a beacon of innovation, resilience, and inclusive growth in The Bahamas. As the premier development bank, BDB focuses on three key pillars: fostering a culture of innovation, enhancing its client-centric approach, and building strategic partnerships.
By investing in cutting-edge technologies, tailoring its offerings to meet the evolving needs of clients, and strengthening collaborations with local and international partners, BDB is charting a path towards a more prosperous and sustainable future for The Bahamas.
Partnerships for Progress
Partnerships have been a cornerstone of his success, and he believes they are essential for driving sustainable growth at BDB. His previous experiences working alongside local and international institutionshas taught him the value of strategic alliances and collaborative efforts.
At BDB, his goal of fostering and maintaining partnerships has already been realized. He and his team will continue to actively seek out partners who complement its strengths and share its commitment to development and innovation.
By building strong relationships with financial institutions, government agencies, and international organizations, among others, BDB leverages diverse resources and expertise to support initiatives. These partnerships enable BDB to amplify its impact and deliver greater value to its stakeholders, The Bahamas, the region, and the world at large.
Envisioning Legacy through Impactful Development
As he completes his second year as BDB’s Managing Director, Nicholas will continue to lead the institution in a way that significantly contributes to the economic and social development of the country – from small businesses to large-scale programs.
His goal is to create a lasting impact by fostering an environment where BDB team members are empowered, businesses can thrive, communities are advanced, and sustainable practices are embraced.
He envisions his legacy as one of transformative leadership, where BDB becomes synonymous with innovation, inclusivity, and resilience. Through collective efforts, he aspires to leave behind a stronger, more vibrant economy that provides opportunities for all Bahamians to achieve their full personal and business potential.
