Carib Scope

分类： business

  • Electric Buses Saved the City Commute When Buses Went Silent

    Electric Buses Saved the City Commute When Buses Went Silent

    On a Monday in late April 2026, commuters across Belize City and along the busy Phillip Goldson Highway faced unexpected disruption when the entire fleet of the Belize Bus Association ceased operations, leaving thousands of daily travelers stranded without their usual means of getting to work, school, or home. What could have spiraled into a full-blown mobility crisis instead became an unexpected, real-world demonstration of the reliability of electric public transit: the Belize City Council’s electric bus fleet remained fully operational, stepping in as a critical backup for stranded residents.

    According to Belize City Mayor Bernard Wagner, every single scheduled electric bus run was filled to capacity during the shutdown, as desperate riders crowded onto the vehicles to complete their daily journeys. The sudden surge in demand, he explained, put a clear spotlight on just how critical alternative, independent mobility options have become for urban centers, particularly when systemic disruptions hit conventional transit networks. In what began as an unplanned test of electric mobility’s practical value, the city’s electric bus fleet performed far beyond expectations, passing with flying colors.

    Wagner used the unprecedented event to make the case for a broader shift away from fossil fuel-dependent internal combustion engine and diesel transit vehicles. Beyond their performance during crises, he argued, electric mobility insulates transit systems and communities from the ongoing volatility of global fuel prices. Unlike diesel fleets, whose operational costs swing wildly in response to external market shocks and geopolitical disruptions, electric bus operations maintain stable, predictable costs long-term.

    Citing independent industry research, Wagner noted that electric bus fleets deliver as much as a 40% reduction in ongoing operational costs compared to traditional diesel fleets—a benefit many local transit providers have yet to embrace. “We continue to be stuck in a time warp,” Wagner said of the local industry’s slow adoption of electric transit, adding that temporary fixes for rising fuel costs will never resolve the core issue: price volatility will keep reemerging every three to six months, regardless of short-term policy adjustments.

    In the wake of the shutdown that showcased electric buses’ reliability, the mayor urged existing private bus operators to reevaluate their fleet strategies and seriously consider transitioning to electric buses to deliver more stable, cost-effective service for Belize City commuters long-term.

  • Soaring Fuel Costs Rattle Economy, But PM Points to Bright Spots

    Soaring Fuel Costs Rattle Economy, But PM Points to Bright Spots

    Against a backdrop of escalating global market volatility that has sent fuel prices climbing sharply across Belize, Prime Minister John Briceño delivered a national address Monday evening to address growing public anxiety, outline the government’s response strategy, and highlight bright spots in the national economy that are holding up against international headwinds.

    The country has seen mounting pressure on household budgets and business operating costs as fuel costs surge, a ripple effect from ongoing global geopolitical instability. In his address, Briceño openly acknowledged the significant strain that elevated fuel prices are placing on key domestic industries, while laying out a multi-pronged approach the administration is pursuing to soften the blow for everyday Belizeans.

    Briceño emphasized that despite the economic turbulence, several core sectors of Belize’s economy have proven unexpectedly resilient. Tourism, one of the country’s largest revenue generators, continues to perform well: international visitor arrivals remain steady, and all existing airline routes connecting global destinations to Belize are operating at full capacity. Beyond tourism, the prime minister noted that the agricultural sector and Belize’s growing business process outsourcing (BPO) industry remain robust, largely insulated from the global market chaos driving fuel price increases. He added that overall employment levels and foreign investment flows have not seen meaningful negative impacts from the global crisis to date, and the full-year 2026 economic forecast remains positive.

    Crucially, Briceño confirmed that the government would protect all social safety net programs targeted at vulnerable populations, even as it pursues broader cost-cutting measures across the public sector. Under the administration’s Plan Belize 2.0, commitments to tens of millions in education scholarships and subsidies, early childhood development programs, and school feeding initiatives will remain fully funded. In the public health space, free medical services at public hospitals and the national rollout of the National Health Insurance (NHI) scheme will proceed as scheduled. “When it comes to spending reduction and cuts, this government will never reduce investments we have budgeted for those most in need. That is the sacred contract of Plan Belize 2.0,” Briceño stated.

    To cushion the national economy from external shocks and minimize the impact of rising fuel costs on residents, the prime minister called for collective action from both public servants and the general public. He urged all government departments to prioritize operational efficiency, cut unnecessary spending, and become more resourceful in their day-to-day work. For ordinary Belizeans, he recommended intentional conservation of electricity and fuel in daily routines, and encouraged consumers to prioritize locally made Belizean products to support domestic industries.

    Briceño stressed that years of public finance transformation since 2020 have left the government with sufficient fiscal space to confront current challenges, and said his administration would leave no option unexplored to deliver on its promise of shared national prosperity. “Belize is a land of resiliency, our people, one of resourcefulness,” he said. “Together, we will overcome these challenges. The government is committed to minimizing and mitigating the impact of global events and working closely with all stakeholders and the community to protect our national interest.”

    Local news outlet News Five says it will continue tracking retail fuel prices across the country and monitor for any additional cost-saving measures the Briceño administration may introduce in the coming weeks.

  • Caribbean Leaders Push for Regenerative Tourism

    Caribbean Leaders Push for Regenerative Tourism

    As global tourism rebounds to record-breaking heights, injecting trillions of dollars into the world economy, industry and government leaders from across the globe have gathered in Belize for a pivotal conversation about the sector’s future. Against a backdrop of soaring international visitor arrivals, the gathering centers on a urgent, long-unresolved question: how to expand tourism without overwhelming local communities and destroying the irreplaceable natural and cultural assets that draw travelers in the first place. Moving beyond the decades-long focus on sheer visitor volume, the summit is pushing for a paradigm shift toward balanced, long-term growth—an approach industry innovators have dubbed “better tourism.”

    For the Caribbean region, this conversation is far from theoretical. Tourism contributes an average of 32% of total gross domestic product across Caribbean nations, with some island economies relying on the sector for as much as 90% of their annual output. In 2025 alone, the region welcomed an estimated 70 million international visitors, a figure that underscores both the economic power and the existential risk of mass tourism. The natural landscapes, biodiverse coastal ecosystems, and unique cultural heritage that make the Caribbean a top global destination are increasingly at risk from the very growth that drives the region’s economy.

    “What we protect sustains us,” explained Evan Tillett, Director of the Belize Tourism Board, in remarks at the summit. “That lesson did not arise from theory but from recognition that our natural and cultural assets are finite and, once compromised, are not easily restored. The question, therefore, was never whether we pursue growth, but how we grow without forfeiting the very foundation that makes growth possible.”

    The environmental costs of traditional mass tourism are impossible to ignore: the sector accounts for roughly 10% of global greenhouse gas emissions, and unchecked tourism-driven development has accelerated pollution that threatens fragile coastal ecosystems across the globe. Anthony Mahler, Belize’s Minister of Tourism, outlined the stark consequences of inaction facing small island nations.

    “The pollution crisis is real, and it threatens everything we need to protect our environment, our public health, and most of all, our people,” Mahler said. “It is driven by inadequate waste management and unchecked coastal development. The ocean absorbs an estimated 8 to 12 million metric tons of plastic waste every single year. Approximately 80% of all wastewater worldwide is discharged into our waters without adequate treatment. The consequences are visible all across our region. Our beaches are eroding, our coral reefs are experiencing bleaching, and sargassum is relentlessly pounding our coastlines.”

    This tension between short-term economic gain and long-term environmental and community health is not unique to the Caribbean. Leaders from tourism economies around the world shared their own experiences of the harm caused by prioritizing volume over sustainability. Pania Tyson-Nathan, Chief Executive of New Zealand Māori Tourism, noted that conventional tourism models have often failed to deliver equitable benefits to local and Indigenous communities.

    “Tourism has been very good for growth. It has been less good at respect to care, protection, and importantly, giving back. And even less effective at ensuring that local businesses, communities, and peoples are the ones that benefit from it,” Tyson-Nathan said. “That is the tension we are all navigating, and one of the reasons we are all here. Low value jobs creating low value economies, and I dislike this one immensely, gentrification, where locals can no longer afford to live in their homes or in their tribal lands because policies and consents have favored developers who turn our homelands into playgrounds or holiday homes.”

    To address these gaps, regional leaders are calling for a step beyond basic sustainable tourism, which focuses primarily on reducing harm. Instead, they are advocating for regenerative tourism, a model that actively improves the places and communities that host visitors. “We must move toward regenerative tourism,” said Ian Gooding-Edghill, Minister of Tourism for Barbados. “Our efforts go beyond minimizing harm to actively restoring ecosystems, strengthening communities, and preserving and celebrating our cultures. It is about shifting from doing less damage to creating a net positive impact for our people, our environments, and of course our economies.”

    As the summit progresses, the core consensus that has emerged is clear: the future of global tourism does not depend on how many visitors the industry can attract, but on how well it serves people, preserves culture, and protects the natural environment. Reporting for News Five, Zenida Lanza contributed to this report from Belize City.

  • Grenada advances Canadian tourism market strategy

    Grenada advances Canadian tourism market strategy

    The Grenada Tourism Authority (GTA) has recently closed out a strategically focused marketing mission in the Canadian city of Toronto, a trip designed to solidify the Caribbean destination’s standing in one of its most valuable international source markets through tailored engagements with travel industry stakeholders, media outlets, and airline partners.

    Headed by GTA Chief Executive Officer Stacey Liburd, the delegation included Director of Sales for Canada Sekou Stroude and Marketing Executive Melinda Telesford. Throughout the mission, the team centered its work on three core priorities: deepening existing strategic partnerships across the Canadian travel ecosystem, unlocking new opportunities to expand airlift access, and sharpening Grenada’s brand positioning as a top-tier luxury and leisure travel destination for Canadian holidaymakers.

    One of the most notable outcomes of the mission was productive strategic discussions with Canadian carrier WestJet. The two sides explored expanding Grenada’s existing seasonal direct flight service, which currently runs from December through April, to an extended window spanning November through May. A longer operating schedule would significantly improve travel convenience for Canadians looking to visit the Caribbean island. The GTA also held collaborative talks with WestJet Vacations to grow the company’s range of pre-packaged Grenada travel offerings, a move expected to boost both market visibility and booking conversion rates for the destination.

    “Our work in Toronto is part of a deliberate, targeted strategy to strengthen Grenada’s foothold in the Canadian travel market,” Liburd explained during the mission. “By opening strategic dialogues with airlines, engaging closely with travel trade partners, and connecting with key media outlets, we are not just raising awareness of Grenada—we are building clear pathways to drive higher visitation and deliver long-term, sustainable growth for our tourism sector.”

    Grenada’s luxury travel brand received additional high-profile exposure through the GTA’s participation in Virtuoso On Tour Toronto 2026, a leading industry event for luxury travel professionals. At the event, the delegation met with more than 80 elite travel advisors from across Canada, who specialize in curating high-end holiday experiences for discerning clients. To amplify destination awareness, the GTA hosted a sponsored dinner for event attendees, which featured a dedicated presentation on Grenada’s travel offerings, remarks from Liburd, curated immersive experiences highlighting the island’s culture and hospitality, and a prize giveaway supported by three of Grenada’s top luxury resorts: Calabash Grenada, Six Senses La Sagesse and Silversands Grenada.

    Beyond trade engagements, the GTA carried out a targeted media outreach campaign, connecting the delegation with 20 top Canadian travel journalists and social media influencers. The outreach has already generated immediate press coverage, including a featured story in leading industry publication Travelweek, with additional national exposure planned for coming months. Liburd also made a live television appearance on CHCH Morning Live, bringing information about Grenada’s travel offerings directly to a mass consumer audience across Ontario.

    Stakeholder engagement extended beyond major events to include a private dinner for leading travel agencies, including top Canadian brands Flight Centre, U Travel and Maritime Travel. The delegation also held strategic partnership talks with Sandals Resorts to coordinate upcoming joint marketing and promotional activations across Canada. The mission also included a check-in with the GTA’s in-market representation partner VOX International, where both sides confirmed that ongoing collaborative marketing campaigns have already delivered strong results, with high audience engagement and solid conversion metrics across all active initiatives.

    To cap off the mission, the GTA delegation held a diplomatic engagement at the Grenada Consulate in Toronto, aligning tourism promotion efforts with the country’s diplomatic outreach to support Grenada’s ongoing expansion of its global presence. According to Stroude, the response from all partner groups has underscored just how strong existing demand for Grenada already is among Canadian travelers. “The relationships we strengthened during this mission put us in a great position to drive immediate booking growth and advance long-term market expansion, especially in our key luxury and experience-driven travel segments,” Stroude noted.

  • NAMLAC waarschuwt regering: risico op blacklisting Suriname bij onvoldoende voortgang

    NAMLAC waarschuwt regering: risico op blacklisting Suriname bij onvoldoende voortgang

    Suriname is at serious risk of being placed on an international anti-money laundering blacklist unless urgent action is taken to strengthen its regulatory framework, the country’s National Anti-Money Laundering Commission (NAMLAC) has warned in an urgent letter addressed to President Jennifer Simons.

    The warning comes nearly four years after Suriname’s last major international assessment by the Caribbean Financial Action Task Force (CFATF), the regional body that enforces global standards set by the Financial Action Task Force (FATF). In 2022, the CFATF placed Suriname under its Enhanced Follow Up process after the country received low marks for both technical compliance and the practical effectiveness of its anti-money laundering, counter-terrorist financing, and counter-proliferation financing (AML/CFT/CPF) regime. At that time, Suriname was granted a deadline extending to 2027 to address all identified gaps and bring its rules in line with FATF’s 40 core recommendations.

    Between 2023 and 2025, Suriname made measurable progress, securing improved ratings for compliance with 27 of the 40 FATF recommendations. However, the country has hit a critical deadlock over the remaining 13 reforms. According to NAMLAC, Suriname was unable to submit any new progress assessment requests to the CFATF in 2026 because Suriname’s National Assembly has not passed any of the required legislation to address the outstanding gaps. Worse, the CFATF’s submission window for new progress updates has already closed.

    Suriname is scheduled to present its fourth Follow Up Report to the CFATF plenary assembly in November 2026. At that meeting, international assessors will conduct a full review of whether Suriname has implemented sufficient reforms to meet global FATF standards. The review will also evaluate the Suriname government’s political commitment to the reforms, the strengthening of domestic regulatory institutions, and the country’s track record on both national and international collaboration to combat illicit financial activity.

    NAMLAC has stressed that all remaining compliance updates must be submitted by no later than August 2026 to allow for the final report to be prepared in time for the November plenary. The commission has made clear that if insufficient progress is documented by the assessment deadline, blacklisting remains a very real possibility for Suriname.

  • Proven & ANSA McAL raising US$30 million via Roberts Manufacturing IPO

    Proven & ANSA McAL raising US$30 million via Roberts Manufacturing IPO

    Regional investment firm PROVEN Group Limited has announced it will divest nearly half of its holding in Barbados-based consumer goods manufacturer Roberts Manufacturing Company Limited, in a transaction valued at a maximum of US$15.63 million. The move is a core part of Proven’s strategic plan to boost cash reserves, trim outstanding debt, and clear the way for the resumption of ordinary shareholder dividend payments, which have been paused since mid-2025.

    This partial stake sale is being conducted alongside Trinidad-based conglomerate ANSA McAL Limited as part of Roberts Manufacturing’s total US$30.16 million initial public offering (IPO), ahead of the firm’s listing on the Barbados Stock Exchange (BSE). Prior to the offering, Proven and ANSA McAL hold a combined 100% controlling stake in Roberts, with Proven owning 50.5% and ANSA McAL holding the remaining 49.5%. If the IPO is fully subscribed, Proven’s holding will drop to 25.5%, while ANSA McAL’s stake will fall to 25% – leaving both existing owners with joint strategic control of the listed manufacturer.

    In its official IPO prospectus, Roberts emphasized that the transaction balances the needs of existing shareholders for liquidity with the continued stability of retained strategic oversight. “Providing liquidity to the Shareholders while retaining strategic control. This will enable capital reallocation, leverage reduction, and capital structure management at the shareholder level,” the document read.

    The divestment comes at a pivotal juncture for Proven, which has faced significant financial headwinds over the past three quarters. For the nine-month period ending December 2025, the firm swung from an operating profit of US$2.85 million in the prior year to an operating loss of US$2.66 million. The downturn was driven by spiking interest expenses, shrinking gross profit contributions from Roberts, and rising general operating costs.

    While a doubling of profit share from associate firm JMMB Group Limited – reaching US$5.66 million – pulled Proven to a pre-tax profit of US$3.01 million, this figure still represented a 44% year-over-year decline. Consolidated net profit for the period hit US$2.55 million, with US$1.45 million attributable to common shareholders.

    Proven suspended ordinary dividend payments in July 2025 to prioritize liquidity building and debt reduction amid elevated global borrowing costs and softening operating results. The company has signaled that it expects proceeds from two major property developments – Sol Harbour and Bahari Phase 1 – to support dividend resumption in the second half of 2026, a timeline that will be reinforced by the proceeds from the Roberts stake sale.

    “The Board remains committed to reinstating dividend payments at the earliest appropriate time, with the expectation that the completion of major property sales and the normalization of operating performance will provide a solid foundation for the resumption of shareholder distributions,” Proven noted in its recent third-quarter financial report.

    For its part, Roberts Manufacturing stands as one of Barbados’s most robust industrial assets, specializing in the production of edible oils, margarines, food shortenings, and specialty animal feed products. The company commands a dominant market share on its home island and exports its goods to 14 regional Caribbean markets.

    In its most recent full financial year, Roberts posted a 10% drop in consolidated revenue to US$66.87 million, stemming from the termination of a large animal feed contract and short-term cross-border shipment disruptions. Even amid this top-line decline, the manufacturer grew net profit by 41% to US$5.7 million, with shareholder-attributable net profit surging 73% to US$4.59 million. The strong bottom-line result was fueled by aggressive cost-cutting, lower effective tax rates, and the reversal of previous accrual balances.

    Since 2021, Roberts has returned a total of US$16.55 million to shareholders via dividends, including US$4.67 million in the 2025 financial year. Previously, the firm paid an annual management fee of US$2.8 million to its controlling owners and their affiliates, but this practice will end following the IPO. Going forward, Roberts has committed to distributing at least 50% of its available net profit as annual dividends to all public and private shareholders.

    The IPO marks the start of a new growth phase for the manufacturer, which has outlined plans to drive top-line expansion through targeted commercial investment and disciplined operational execution. The company is currently upgrading its shortening and margarine production facility, a project expected to boost output by 30% while supporting its goal of expanding its regional export footprint. Longer-term, Roberts is evaluating a secondary listing by introduction on the Jamaica Stock Exchange, as well as a follow-on public offering to raise additional equity for further expansion projects.

    The IPO opened for public subscription on April 16 and will close on May 7, with a minimum fundraising threshold of US$5 million required for the offering to proceed. Shares are priced at US$0.50 each for retail and institutional investors.

  • Insurance vital for businesses as global volatility intensifies, says Marathon executive

    Insurance vital for businesses as global volatility intensifies, says Marathon executive

    KINGSTON, Jamaica — At a time of rising climate uncertainty, shifting regulatory standards, and growing legal risk across the Caribbean, a top insurance industry leader is calling on regional enterprises to reframe how they think about insurance coverage. Marvin Douglas, Deputy General Manager of Sales at Marathon Insurance Brokers, is pressing Jamaican and Caribbean business leaders to abandon the long-held view of insurance as an avoidable routine overhead, and instead embrace it as a form of strategic risk capital that can shield firms from catastrophic financial collapse. In an increasingly unstable global and regional operating environment, Douglas warned that failure to properly transfer unmanageable risk leaves companies dangerously exposed to ruinous losses.

    Douglas delivered his remarks at the 2026 Annual Conference for Rotary District 7020, an event held this year under the unifying theme “Recognise needs, transform lives”. In his address, he argued that the outdated perspective of insurance as a forgotten “paper in a drawer” has no place in modern risk management. Instead, he positioned coverage as a foundational tool for building organizational resilience and guaranteeing long-term business continuity.

    At its core, Douglas explained, insurance creates a structured framework for transferring risk. It lets businesses trade the threat of unpredictable, catastrophic losses that could sink an operation for predictable, fixed premium costs that fit into annual budgets. By offloading this extreme risk, companies free up capital that would otherwise be held in reserve for emergency losses, freeing those funds to be invested in expansion, innovation, and improved customer service.

    A key trend Douglas highlighted is the steady uptick in professional liability claims across Jamaica and the broader Caribbean region. Today, professionals ranging from doctors and lawyers to engineers and independent consultants face far greater exposure to lawsuits, as the region shifts toward a more litigious culture. Douglas emphasized that professional indemnity insurance fills two critical needs: it covers potential damage awards against practitioners, and it covers the cost of legal defense—an expense that can financially cripple a small or medium-sized firm long before a court issues a final ruling.

    Against the backdrop of tightening professional standards across all Caribbean industries, this coverage becomes even more non-negotiable, Douglas noted. Beyond covering costs, it protects the professional reputations that practitioners spend decades building, ensuring that one single honest error does not erase years of hard work and community trust.

    Douglas also drew attention to the underappreciated value of business interruption insurance, which he described as a “hidden hero” of post-disaster recovery. While most business owners prioritize traditional property insurance to cover physical damage to facilities and equipment, many overlook the crippling financial strain that comes with operational downtime. This strain includes lost revenue during the shutdown and fixed ongoing costs such as staff salaries and rent that continue to accrue even when the business cannot generate income.

    For a hurricane-prone region that also faces regular global supply chain disruptions, business interruption coverage is the safety net that lets companies remain financially solvent while they rebuild and recover from major disruptive events, Douglas explained. Without this coverage, even firms with solid property insurance can be forced to close permanently after a major shock.

    Looking toward the future of regional risk management, Douglas identified parametric insurance as an innovative emerging solution for climate-related risks, which have grown more frequent and severe in recent years. Unlike traditional insurance policies, which require time-consuming on-site damage assessments before payouts can be issued, parametric policies automatically trigger payouts when predefined, objective conditions are met. Examples include a hurricane reaching a set category of intensity, or regional rainfall exceeding a pre-agreed threshold.

    This fast-payout model makes parametric insurance particularly well-suited for Jamaica’s two largest economic sectors: agriculture and tourism. Both sectors are extremely vulnerable to climate shocks, and both require immediate access to liquidity to begin recovery and avoid long-term revenue loss. By cutting through the delays of traditional claims processing, parametric coverage gets funds into businesses’ hands when they need them most.

    Throughout his address, Douglas stressed that building meaningful organizational resilience depends on proactive risk management, rather than reactive crisis response. While businesses cannot prevent natural disasters, unexpected legal claims, or supply chain collapses, they have full control over how they prepare for and manage those risks. When structured correctly to match a firm’s unique risk profile, he concluded, insurance delivers the financial stability that lets organizations keep operating and serving their local communities, even in the aftermath of major disruptive events.

  • Gas prices up $4.50, diesel up $4.50

    Gas prices up $4.50, diesel up $4.50

    KINGSTON, Jamaica — Jamaican motorists are bracing for higher fuel costs starting this Thursday, April 30, after state-owned refinery Petrojam announced widespread increases to ex-refinery fuel prices across all product grades.

    The most impactful change for everyday drivers is a $4.50 per litre jump for both standard gasoline blends. Following the adjustment, 90-octane gasoline will be priced at $193.07 per litre, while the more widely used 87-octane blend will retail at an adjusted $185.63 per litre before retail mark-ups.

    The $4.50 per litre increase extends to other core fuel products as well. Regular automotive diesel will now cost $193.25 per litre, and the cleaner ultra-low sulphur diesel variant will hit $200.09 per litre after the adjustment. Kerosene, a product widely used for cooking and heating in many Jamaican households, will also see a matching $4.50 per litre rise, bringing its ex-refinery price to $182.64 per litre.

    Smaller but still notable increases are applied to liquefied petroleum gas (LPG) products, which are commonly used for residential cooking. Propane will rise by $1.94 per litre to $80.82, while butane will see a $2.43 per litre increase, settling at $89.23 per litre at the ex-refinery level.

    It is important to note that these published ex-refinery prices do not represent the final cost consumers will pay at retail outlets. Local fuel marketing companies and independent retailers will add their own standard operating margins and mark-ups to these base rates before the fuel reaches consumers at the pump.

  • Forex: $158.12 to one US dollar

    Forex: $158.12 to one US dollar

    KINGSTON, Jamaica — Fresh data released by the Bank of Jamaica’s daily foreign exchange trading roundup shows that the United States dollar closed out its Wednesday, April 29 trading session with a moderate uptick against the Jamaican dollar. By the end of the trading day, one US dollar was pegged at 158.12 Jamaican dollars, representing a 16 cent increase compared to previous trading levels.

    Shifts were also recorded across other major global currencies on the same trading day. The Canadian dollar, for example, softened slightly against the Jamaican dollar, finishing the day at 115.15 Jamaican dollars per unit, down from its prior close of 115.36 Jamaican dollars. In contrast, the British pound extended its gains, ending the session at 213.88 Jamaican dollars per pound, an increase from its previous trading close of 212.99 Jamaican dollars.

  • Eppley bets on regional property, credit growth with leadership shake-up

    Eppley bets on regional property, credit growth with leadership shake-up

    KINGSTON, JAMAICA — As Caribbean-based investment firm Eppley Limited accelerates its plan to scale up cross-regional investment holdings, the company has announced two high-profile leadership changes: hiring former PROVEN Properties CEO Aisha Campbell to helm its real estate and infrastructure division as president, and promoting long-time team member Samantha Summerbell to the post of vice-president for credit. Campbell stepped into her new role following the departure of Denise Gallimore, who departed Eppley after more than eight years of service to take a new leadership position at Stanley Motta Limited / Felton Properties Limited.

    In her new role, Campbell will oversee all of Eppley’s core real estate and infrastructure assets, including the Eppley Caribbean Property Fund, the firm’s direct real estate holdings, and its fast-growing infrastructure investment portfolio. Summerbell, meanwhile, will take charge of all the company’s on- and off-balance-sheet private credit operations, which includes the prominent Caribbean Mezzanine Fund. These leadership moves come as Eppley works to deepen its footprint in private markets across the Caribbean region, capitalizing on growing demand for alternative investments in the area.

    Campbell brings nearly two decades of proven real estate leadership experience to Eppley. During her tenure as CEO at PROVEN Properties, she led an aggressive expansion that grew the firm’s total real estate portfolio from a modest US$20 million to a substantial US$140 million. She also oversaw the development of more than US$250 million in commercial and residential projects spanning three major Caribbean markets: Jamaica, the Cayman Islands, and Barbados, giving her deep on-the-ground expertise that aligns with Eppley’s regional growth goals.

    Gallimore, Campbell’s predecessor, leaves behind a significantly expanded real estate platform at Eppley. During her more than eight years with the firm, Eppley’s commercial tenanted footprint grew to 1.1 million square feet across three key markets: Jamaica, Barbados, and Trinidad, laying the groundwork for the company’s next phase of growth.

    In an official statement announcing the leadership changes, Eppley Vice-chairman Nicholas Scott praised Gallimore’s foundational contributions to the firm. “Denise has played a critical role in building and formalizing Eppley’s real estate and infrastructure business from the ground up,” Scott said. “We are deeply grateful for her years of commitment to our growth, and we are proud to see an Eppley alumnus step into a leadership role at another outstanding regional real estate firm.”

    Summerbell’s promotion to vice-president of credit comes after she led several of the company’s most high-impact and successful transactions in recent years. Her expanded leadership of Eppley’s private credit business comes as this segment has emerged as a core and increasingly vital component of the firm’s overall long-term investment strategy, as private credit has grown in popularity among regional investors seeking consistent, uncorrelated returns.

    Eppley CEO Raymond Donaldson emphasized that the leadership changes come at a pivotal moment of growth for the firm. “This is a moment of real momentum for Eppley as we push forward with our regional expansion plans,” Donaldson noted. “Aisha stands out as one of the most accomplished and respected real estate executives across the entire Caribbean, and her track record of scaling portfolios speaks for itself. Sam has long shared our core investment philosophy, and she has consistently delivered strong results for our shareholders over her years with the firm.”

    Headquartered in Kingston, Eppley Limited focuses primarily on private market investments across the Caribbean, with core focus areas in credit, real estate, and infrastructure. The firm manages multiple regional investment vehicles, and has steadily expanded its portfolio of direct property and infrastructure assets in recent years as it works to deliver strong, consistent risk-adjusted returns for its shareholders.