Finance and Development Company Marks 40 Years of Excellence

Finance and Development Company Ltd. (FDC), a key Hadeed Group of Companies member, marked its 40th anniversary with a gala dinner at the Sandals Grande Resort this past Saturday night.

The event featured a distinguished guest list that included Governor General Sir Rodney Williams, who joined as both head of state and a close friend of the Hadeed family, alongside Attorney General Sir Steadroy Benjamin, Eastern Caribbean Central Bank Governor Timothy Antoine, several Cabinet members, banking industry representatives, and friends and family members of the Hadeed family, both local and international.

The evening celebrated the company’s significant milestone and paid homage to Sir Ramez Hadeed KCGN, the visionary behind FDC’s establishment four decades ago.

Francis Hadeed, acting Chairman of the FDC Board of Directors, says the company’s vision is one of innovation, collaboration, and regional leadership.

“Our recent establishment of E finance and development of Trinidad and Tobago and partnerships in Jamaica and Barbados marks the beginning of a regional expansion. We see FDC’s model replicated across the Eastern Caribbean,” he said.

Furthermore, he said FDC’s commitment to offering affordable and easy financing solutions can uplift the lives of the people and the community.

“The vision ensures that the average household has access to financial tools they need to thrive and create a meaningful impact…At the heart of our expansion is our commitment to fairness. For too long many financial institutions have imposed exorbitant interest rates. FDC is determined to change this…” he added

Meanwhile, Sir Rodney highlighted the long-standing relationship between the Hadeed and Williams families in his address, noting their shared history.

He said it was a privilege to witness firsthand the remarkable growth and success of Finance and Development Co. Ltd. as it rose from humble beginnings to become a cornerstone of our commercial sector.

Attorney General Sir Steadroy Benjamin spoke on behalf of Prime Minister Gaston Browne, who could not attend due to travel commitments.

He praised FDC for its commitment to supporting the community, particularly the youth and marginalized individuals who often struggle to secure financing from traditional banks.

He said the FDC has stepped in to provide assistance to those who are unable to obtain financing elsewhere, demonstrating genuine care for the ordinary man and woman in Antigua and Barbuda

Aziz Hadeed, brother of Sir Ramez, provided insight into the challenges that led to the creation of FDC.

He recounted the situation in 1984 when Hadeed Motors, despite having a substantial inventory of used vehicles, faced rejection from commercial banks for financing potential buyers.

This inspired a conversation with Sir Ramez, ultimately leading to the establishment of FDC.

The Finance and Development Company was born in 1984 with an initial paid-in capital of EC$1 million. Today, 40 years later, that capital has grown to EC$17.5 million, with total assets amounting to EC$265 million.

Over the past decade alone, the company has helped over 11,000 citizens of Antigua and Barbuda fulfill their dreams of owning vehicles and other essential items

During the ceremony, several employees were honored for over 25 years of service to the company, including Sharon Meade, Eustace Gonsalves, Leah Liverpool, Don Meade, Myron Williams, Joycelyn Merchant, Elroy Jeffrey Gore, as well as directors Raddy Hill, Aziz Hadeed, Francis Hadeed, Andrew Hadeed, and Riad Hadeed from Trinidad and Tobago, represented by Dominic Hadeed.

The awards were presented by FDC’s Managing Director, Jason Weste.

During the event, a video tribute to FDC’s founder, Sir Ramez Hadeed, was showcased, and attendees received a commemorative magazine celebrating FDC’s 40th anniversary.