分类： business

A landmark $50 million investment is set to revitalize Jamaica’s historic sugar industry, marking a significant economic turnaround for Clarendon’s agricultural plains. Tropical Sugar Company Limited has initiated a transformative project to restore approximately 13,000 acres of dormant sugar lands in Moneymusk, an area once celebrated as the island’s sugar capital.

The comprehensive development will feature a state-of-the-art, vertically integrated sugar cane processing facility with an installed capacity of 50,000 metric tonnes. Construction is scheduled to commence in January with an anticipated 18-month timeline, reestablishing commercial-scale mechanized sugar production in the region.

During Tuesday’s groundbreaking ceremony, Agriculture Minister Floyd Green declared this initiative as “the start of the restoration of sugar in Clarendon.” He emphasized how the industry’s previous decline had created economic uncertainty for communities including Lionel Town, Mitchell Town, Rocky Point, and Hayes, where generations had depended on sugar production for their livelihoods.

Prime Minister Andrew Holness welcomed the investment as crucial for restimulating economic activity in the parish, particularly following the devastating impacts of hurricanes Beryl and Melissa. He noted the investors’ commitment through land purchases demonstrates long-term confidence in Jamaica’s agricultural potential.

The project is projected to generate approximately 2,000 direct and indirect employment opportunities, creating new prospects for farmers, equipment operators, factory workers, and transport services. Additional benefits include green energy production through bagasse processing and unique export products.

Industry Minister Senator Aubyn Hill characterized the development as “a strong unapologetic comeback for Jamaica’s sugar industry” after decades of decline. He referenced the government’s difficult but necessary divestment of state-owned sugar assets between 2005-2011 as laying the foundation for this private sector-led revival.

The international investment consortium behind Tropical Sugar Company includes partners from Trinidad & Tobago, Guyana, India, Ghana, and Jamaica. Indian High Commissioner Mayank Joshi described the project as honoring the legacy of Indian indentured laborers while addressing food and energy security concerns common to Global South nations.

KINTYRE Holdings (JA) Limited, formerly known as iCreate, has demonstrated extraordinary financial performance with a staggering 446% increase in third-quarter net profit, reaching $103.5 million. This remarkable achievement was fueled by a substantial 146% revenue growth, climbing to $135.3 million during the quarter ending September 30, 2025.

The Jamaica Stock Exchange Junior Market entity attributed this exceptional performance to the rapid expansion of its Visual Vibe digital out-of-home advertising network and significant contributions from its real estate operations. Operating profit similarly surged to $103.5 million from $26.2 million year-over-year, reflecting both expanded screen infrastructure and increased advertiser engagement.

For the nine-month period, the company reported consolidated revenue of $208.9 million, representing a 70% increase, while net profit soared to $129.4 million from $20.4 million in the comparable period last year.

Tyrone Wilson, Chairman, President and Chief Executive Officer, emphasized that these results validate the group’s strategic approach combining operational excellence with targeted investments. He characterized Kintyre as rapidly emerging as one of the most profitable entities on the Junior Market.

Visual Vibe, operating both indoor and outdoor digital advertising solutions including innovative advertising backpacks and screen rental services, continues to serve as the primary growth engine. The platform is being strategically positioned as Jamaica’s dominant digital out-of-home advertising solution.

The company’s expansion initiatives are being supported through strategic investments from Portland Holdings and a collaborative partnership with Vantage One. These developments are expected to facilitate new equipment installations by January 2026, alongside potential preparations for an initial public offering.

Kintyre’s Parallel Real Estate Ventures division has progressed multiple renovation projects and advanced development work in Stony Hill, where subdivision planning is underway for the sale of two villas and three townhouses. Formal project submissions are anticipated during the first quarter of 2026.

Financial positioning strengthened considerably with total assets growing to $970.3 million from $564.7 million year-over-year, driven by increased property, plant, equipment valuations, goodwill recognition, and investment properties. The company maintained a robust equity position of $669.2 million, up from $339.1 million, with total liabilities of $301.1 million including $80 million in convertible notes – indicating a relatively conservative leverage profile.

Cash and cash equivalents improved dramatically to $75.5 million from $1.8 million at year-start, following positive operational cash flows that were partially allocated to strategic investments and subsidiary restructuring.

With established operations in Jamaica, Dubai, and Miami, and planned expansion into additional Caribbean markets, Kintyre continues to leverage Junior Market tax incentives while actively pursuing merger and acquisition opportunities across media, real estate, technology, hospitality, and business empowerment sectors throughout the region.

JAMAICA’S TOURISM SECTOR RECEIVES MAJOR BOOST AS IBEROSTAR COMPLETES POST-HURRICANE RECOVERY

ST JAMES, Jamaica — In a significant development for Jamaica’s hospitality industry, Iberostar Hotels & Resorts has successfully restored operations at its three-property Rose Hall complex following extensive recovery efforts from Hurricane Melissa’s devastation. The reopening represents a critical milestone in the island’s broader tourism resurgence and economic stabilization.

The Spanish hotel chain emphasized that the accelerated restoration was achieved through exceptional teamwork and robust partnerships with local Jamaican stakeholders. Company executives confirmed that all essential services have been fully reinstated across the resort properties, ensuring seamless guest experiences.

Demonstrating profound corporate responsibility, Iberostar implemented comprehensive support measures for its workforce during the crisis. The company provided emergency accommodation for displaced employees and their families while addressing both immediate physical needs and longer-term financial and emotional wellbeing concerns.

A structured relief program now benefits all 1,700 Jamaican employees, featuring financial assistance through special relief bonuses, essential supply care packages, and dedicated support for home reconstruction efforts. The initiative extends beyond staff members to include neighboring communities severely affected by the natural disaster.

Notably, the hotel group has partnered with the Grange Pen Fishers Association, whose members sustained substantial losses from the hurricane. Many local residents maintain historical ties with the resort properties, making community support an integral component of Iberostar’s operational philosophy.

The company’s leadership emphasizes that tourism represents Jamaica’s most viable path to economic recovery, with visitor spending directly contributing to job preservation and accelerated normalcy restoration across the island nation.

As Jamaica confronts substantial recovery costs in the wake of Hurricane Melissa, financial experts are issuing strong warnings to consumers about responsible spending during the holiday shopping season. The JN Foundation’s financial education consultant Rose Miller emphasizes that while Christmas deals and Cyber Monday promotions appear attractive, they present significant financial risks for vulnerable shoppers.

Miller identifies multiple concerns surrounding seasonal shopping, including potentially deceptive discounts that might not represent genuine savings. The psychological pressure to replace lost items, support rebuilding efforts, or fulfill traditional gift-giving expectations could lead to poor financial decisions. She specifically cautions against accumulating unnecessary debt that could derail long-term financial security.

The financial consultant advocates for strategic budgeting and emergency fund development as critical alternatives to impulsive spending. She recommends systematic monthly savings throughout the year to create financial cushions that don’t depend on year-end bonuses or fortunate circumstances. This approach becomes particularly crucial given the additional economic strain caused by recent natural disasters.

Miller also highlights behavioral economic challenges, noting that emotional spending driven by guilt, the desire to please others, or as coping mechanism for difficult experiences often results in regrettable purchases. She urges consumers to carefully distinguish between needs and wants, suggesting they question whether discounted items align with predetermined shopping lists rather than sale-induced impulses.

For those who must make purchases, Miller provides specific protective measures: shopping through reputable websites and verified retailers, thoroughly evaluating advertised discounts against regular prices, using secure payment systems with fraud protection, and maintaining detailed transaction records. These precautions become especially important during periods of increased financial vulnerability.

The consultant predicts that holiday spending will likely decline this season, though primarily due to financial necessity rather than conscious choice. She hopes this moment will catalyze a broader shift in financial behavior among Jamaican consumers, emphasizing that the coming years require adjusted spending habits to navigate ongoing recovery challenges.

KINGSTON, Jamaica – In a strategic move signaling significant expansion within the Caribbean spirits sector, Jamaican investment firm Kintyre Holdings (JA) has formally announced its acquisition of the complete Kulcha Rum enterprise. The transaction, finalized on Wednesday, encompasses all commercial operations, intellectual property rights, and the entire product portfolio associated with the distinctive rum brand.

The acquisition was executed through the purchase of the business from existing owners Richard Lee, proprietor of Miracle Corporation, and Jamaican entrepreneur Peter Bovell. Kulcha Rum, which is presently contract-distilled at a facility on Pechon Street in downtown Kingston, enjoys national distribution through Miracle Corporation. As part of an aggressive growth strategy orchestrated by Kintyre Holdings, additional distribution partnerships are slated to be established to broaden the brand’s market reach.

Under the new ownership structure, Kulcha Rum will be integrated into a newly formed Spirits Division within Kintyre Holdings. This division has been specifically created to spearhead the company’s ambitious foray into Jamaica’s lucrative rum and spirits industry. The brand’s existing product line, which features White Rum, Gold Rum, and an innovative cannabis-inspired variant, remains intact. Notably, the flavored offering utilizes herbal notes for its distinctive profile while maintaining full compliance with Jamaican regulatory standards for non-infused spirits.

This acquisition coincides with a period of remarkable financial performance for Kintyre Holdings, which reported record-breaking results for the nine-month period ending September 30, 2025. The purchase represents a key component of the company’s ongoing mergers and acquisitions strategy, designed to diversify its investment holdings and capitalize on high-growth market segments. The involved parties have indicated that a forthcoming press conference will be scheduled to provide further details on the acquisition and its implications for the future of the Kulcha Rum brand.

Kristofer Madu, a 25-year-old private equity investor with dual Jamaican-Nigerian heritage, has earned prestigious recognition by being named to Forbes’ 30 Under 30 list in the Finance category. Currently affiliated with TPG Investments, Madu specializes in technology, media, and entertainment sector investments, demonstrating exceptional expertise in high-value financial transactions.

Born in the United States to Dr. Dainia Baugh, a Jamaican mother, and Professor Ernest Madu, a Nigerian father, Madu spent his formative years in Jamaica after his family relocated to the Caribbean nation. His multicultural background has shaped his unique perspective in the finance world.

Madu’s recent professional accomplishments include his instrumental role in TPG’s monumental US$7.6 billion acquisition of DirecTV from telecommunications giant AT&T. Prior to joining TPG, he honed his skills as an investment banker at Morgan Stanley’s Mergers & Acquisitions Group, where he contributed to landmark deals including the US$17 billion acquisition of Catalent by Ozempic and AbbVie’s US$10 billion purchase of Immunogen.

Beyond his finance career, Madu maintains a parallel path as a musical artist, releasing original compositions and touring as a professional rapper. Demonstrating his commitment to social impact, he founded the non-profit organization “When We Grow Up,” which aims to provide underserved youth with early exposure and access to high-impact career paths in fields such as finance, technology, medicine, and law.

Madu’s selection to the elite Forbes list was determined by alumni of previous 30 Under 30 cohorts, recognizing his exceptional achievements across both finance and social entrepreneurship.

Jamaican fast-food franchise Juici Patties is embarking on an aggressive expansion strategy across the United States, with four new restaurant openings scheduled within the next month. The establishment of these new outlets marks a significant milestone in the brand’s strategic growth plan following the successful launch of its flagship US store in March 2024.

The expansion will introduce Juici Patties’ Caribbean culinary offerings to strategic locations including Pompano Beach, Florida; West Orlando’s Hiawassee area, Florida; and two separate Brooklyn, New York locations on Church Avenue and Flatbush Avenue. This multi-state deployment demonstrates the company’s systematic approach to capturing the American market.

Stuart Levy, Managing Director of Juici Patties USA, revealed the company has achieved an impressive operational capacity enabling sustainable growth at an accelerated pace. “Our strategic systems and disciplined approach developed over the past two years have positioned us to open new locations approximately every eight days,” Levy stated. “This expansion rhythm isn’t limited to the current month but represents our ongoing growth trajectory for the foreseeable future.”

The company’s ambitious growth strategy extends beyond these immediate openings, with development already underway for additional locations scheduled to launch in 2026. The next phase will see Juici Patties entering markets across Georgia, Texas, New Jersey, Pennsylvania, Connecticut, and Massachusetts, establishing the brand as one of the fastest-growing Caribbean food enterprises in the American market.

The specific addresses for the four new locations are: 3502 N Powerline Road, Pompano Beach, FL 33069; 2842 N Hiawassee Road, Orlando, FL 32818; 3005 Church Avenue, Brooklyn, NY 11226; and 19 Flatbush Avenue, Brooklyn, NY 11217.