WHY JAMAICA?
Jamaica's global brand, first rate human capital, and excellent ties to neighboring countries have made it a surprisingly successful petri dish for innovation and scalability in recent years.
Total is a major player in the Caribbean. We are present in the French islands of Martinique and Guadeloupe, Haiti, Puerto Rico, the Dominican Republic, and Jamaica, where we have been present for over 13 years now. We started by acquiring a local company called National Fuels and Lubricants. Four years later, in 2008, we bought the Esso assets. We are present in different distribution sectors. With a network of close to 60 service stations, Total has the largest number of service stations in Jamaica. We also have assets at the fuel depot Jamaica Petroleum Terminal in Montego Bay. We are in the aviation business at both airports and supply lubricants and special fluids. Total supplies fuel mainly from Petrojam, the local refinery, but also imports fuel directly from the Caribbean Community (CARICOM). We also have a general trade business in Jamaica, which involves B2B activities, where we supply fuel products and lubricants to various businesses in Jamaica, including mining, transport, agriculture and tourism.
Our company, New Fortress Energy, came to Jamaica three years ago. The utility company JPS had started an initiative to bring gas to convert its power plant in Montego Bay. In December 2014, we competed for that mandate because we were interested in being a part of the energy infrastructure business in Jamaica. We were fortunate enough to be successful in the summer of 2015. From there, we built the terminal in Montego Bay that became operational and commissioned the 120MW Bogue gas-power plant 13 months later. From this first investment and partnership with JPS, a whole series of transactions has developed. We are also partners with JPS in providing gas for the 190MW plant it is building in Old Harbour. Jamalco is an interesting case because it is an industrial partner that needs power as well as steam for their industrial processes. Given how important mining is to Jamaica, we want to be in situations where we can make a difference.
Fujitsu operates as a regional business in the Caribbean, with Jamaica being a primary location. As such, it is a part of our regional business and incorporated into our global business. The IT industry is undergoing a deep transformation as it deals with the reality of the fourth industrial revolution and the impact of digital. Fujitsu believes there are tremendous opportunities and how we leverage this differentiates us in the Jamaican market, allowing us to be locally responsive and at the same time drive scale and innovation. Fujitsu has been in Jamaica and the Caribbean for 70 years. Before Fujitsu acquired us, we were a European company called ICL. Fujitsu has profoundly changed the region and pioneered several advances in ICT, by selling its products from mainframes to complete digital technologies, but also by developing local capabilities and capacities. Fujitsu has influenced most IT practitioners across the region and in Jamaica.
Citi opened its doors in Jamaica 57 years ago under the name First National City Bank. Until the early 1980s, we operated 11 full service branches before making a strategic decision to focus our business on a select group of corporate clients and effectively exit the retail banking space to become a single branch dedicated to managing relationships with a select market target of corporate clients. This remains our core focus to date. Our product offering spans corporate and investment banking, which includes structured loans, mergers and acquisition advisory, international and local bond issuances, and treasury products ranging from foreign exchange to complex exposure management derivative solutions. We also offer trade finance and cash management services. Our clients include the financial industry in which we play a unique role as a US bank with a local presence. We offer correspondent banking services to many of the local banks and non-bank financial institutions, a service that has recently seen significant challenges in the region.
WHY JAMAICA?
TABLE OF CONTENTS
Interview
Most Honourable Andrew Holness, Prime Minister, Jamaica
TBY talks to the Most Honourable Andrew Holness, Prime Minister of Jamaica, on efforts to foster sustainable and inclusive growth, the main challenges ahead for the nation, and its key successes in improving the business environment.
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Diane Edwards, President, Trade & Investment Jamaica (JAMPRO)
TBY talks to Diane Edwards, President of Trade & Investment Jamaica (JAMPRO), on making investments throughout the whole value chain, becoming a regional distribution hub, and boosting niche agricultural output.
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Courtney O. Campbell, President & CEO, Victoria Mutual
TBY talks to Courtney O. Campbell, President & CEO of Victoria Mutual, on the origins of financial inclusion in Jamaica, helping people get a start on their property journey, and assisting young businesses to exploit a positive business environment.
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Raymond Walker, Founder, Chairman & CEO , Caribbean Assurance Brokers Ltd. (CAB)
TBY talks to Raymond Walker, Founder, Chairman & CEO of Caribbean Assurance Brokers Ltd. (CAB), on fighting for its clients, using environmentally sound methods to drive down costs, and continuously driving innovation.
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Emanuel DaRosa,, President & CEO, Jamaica Public Services (JPS)
TBY talks to Emanuel DaRosa, President & CEO of Jamaica Public Services (JPS), on pursuing common goals in the best possible way, utilizing Jamaica's most abundant natural resources, and satisfying half of Jamaica's energy needs through renewables.
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Winston Watson, Group General Manager, Petroleum Corporation of Jamaica (PCJ)
TBY talks to Winston Watson, Group General Manager of Petroleum Corporation of Jamaica (PCJ), on keeping a hand in both green and black energy, helping the government reach its 2030 Energy Vision targets, and educating people on the importance of conservation.
read articleFocus: LNG Investments
Light My Fire Jamaica
The Jamaican government is pushing private investment in liquefied natural gas (LNG) to provide cheaper and cleaner energy to households and businesses. Through partnerships with local and international companies, New Fortress Energy is leading the way to ignite this sector.
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Gordon Shirley, President & CEO, Port Authority of Jamaica (PAJ)
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
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Fritz Pinnock, President, Caribbean Maritime University
TBY talks to Fritz Pinnock, President of Caribbean Maritime University, on capitalizing on the rising power of the global south, customizing goods before they reach the final consumer, and leveraging Jamaica's geostrategic location to create added value.
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Winston Adams, JP, Executive Chairman, University of the Commonwealth Caribbean (UCC)
TBY talks to Winston Adams, JP, Executive Chairman of the University of the Commonwealth Caribbean (UCC), on the university's illustrious history, its upcoming strategies, and Caribbean Knowledge City.
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Michael Williams, Acting Executive Director , Mona School of Business and Management
TBY talks to Michael Williams, Acting Executive Director of Mona School of Business and Management, on maintaining quality across its programs, its achievements in the Caribbean, and the school's research-based approach.
read articleFocus: Downtown Kingston Revitalization
Drinking from the Fountain of Youth
Although the subject of much talk, downtown Kingston has been relatively neglected for many years while surrounding areas of the city attracted more real estate developments. A series of public and private investments indicate that the trend is finally reversing.
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Timothée F. Delebarre, Country Manager, VINCI Construction Grands Projets (VCGP)
TBY talks to Timothée F. Delebarre, Country Manager of VINCI Construction Grands Projets (VCGP), on diversifying their business lines, expanding Kingston's Port, and developing innovative financing mechanisms.
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Dittie Guise, General Manager, Montego Bay Convention Centre (MBCC)
TBY talks to the late Dittie Guise, General Manager of Montego Bay Convention Centre (MBCC), on marketing the convention center, creating an integrated tourist experience, and preparing for more events and visitors.
read articleFocus: Linking Tourism
Lifting All Boats in the Rising Tide
Although significantly contributing to the economy, tourism in Jamaica suffers from an inadequate level of linkage with other sectors. The government, in partnership with private actors, is launching a number of initiatives to ensure that international tourists meet local businesses.
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Natalie St. Louis, Founder, CEO & Managing Director, Strategic Konnections & Management Services Limited
TBY talks to Natalie St. Louis, Founder, CEO & Managing Director of Strategic Konnections & Management Services Limited, on working with businesses to further their goals, the importance of engaging with consultants, and goals for the coming year.
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