The National Cooperative Credit Union (NCCU) Cadence-lypso Show is said to be having a positive impact on the local economy.
President of the NCCU Dexter Ducreay says that the event, which is in its fourth year, is injecting significant sums of money which will in turn have a multiplier effect.
Ducreay made the remarks on Friday 6th November 2015 at the prize giving ceremony for winners and participants of the October 31st 2015 event.
“So when we finish here we are basically putting into the economy about $350,000 …so that’s what the show brings to the economy. Because if the show was not on, the people that have been paid would not have been paid they would have to get that money somewhere else,” he said.
He added, “What’s interesting about the show is that, that amount is now going into the economy and the multiplier effect that’s in effect from here.”
He pointed out that apart from the competitors in the show, money was also spent on other services such as the caterers, bands, stage, and washroom facilities and among others.
Anton Joseph, “The White Fyarie,” retained the title of Cadence monarch for the second consecutive year over thirteen other finalists in the individual segment and Ti-Orkest copped the top position in the bands segment.
The first place winner in the individual segment received EC$ 10,000 and EC$ 5,000 in prizes, the second place winner, EC$5,000 and the third place winner, EC$3,000. All other finalists get a pay cheque of EC$1,500 each.
In the band segment, the winner will receive EC$8,000, the 1st runner-up, EC$ 5,000 and the 2nd runner-up EC$ 3,000.
Meantime Ducreay said the although the NCCU could not envision the event lasting for four years when it started in 2012, the success of the show is now changing the narrative during the independence season to a cadence one.
“You, the competitors approached it very professionally. I want to thank you all for that. So I urge you to take a bow because you are now creating history. The resurrection of cadence music is now being documented, therefore I want to congratulate not just the winners in this category but all who participated.”
He also urged participants to engage them as well as their partners so they can improve on the show, “in a manner to increase movement of your products.”
what nonsense i hearing there nuh? OK! i agree that we have a failing entertainment industry and especially in times of disaster the people need something to free up, but dont tell me that nonsense show all you put on for older people has a positive impact on the economy. the prizes went to a selected few, the profits went to the Credit Union and some vendors made money. and that was it..all that money will be gone before the end of the month. Our people and our government need to get serious about entertainment and stop leaving it seasonal and only based on calypso and bouyon. we need to be more constant and well rounded, only then will you see a real positive impact on the economy through entertainment. but Mr. ducrey, nice try, but your cadencelypso didnt impress me and many other people that i know. your grand prizes should have been donated to the needy. not to greedy calypsonians.
I don’t understand this logic. If the event is good for the economy why don’t those who benefit from it also pay fort instead of the the people saving their pennies at the credit union. I think there is a conflict of interest mr. Ducreay being both the President of the NCCU and manager of ACS.
what is the conflict of interest between NCCU and ACS. Kindly explain
Since you ask. ACS is part of the commercial establishment benefiting from an event like this and at the same time as President of the NCCU he can use his vote and influence to make the credit unions pay for it.. That is my observation anyway.
Get ready for it ….. here it comes again …. another ….. loss?