Barita Investments has become a major provider of capital for projects in Jamaica’s real economy as exemplified by its investment in Port Antonio’s Boundbrook Urban Centre.

This is a J$4.2 billion Public Private Partnership project with a J$2.7 construction budget funded by Barita, NCB and the Factories Corporation of Jamaica which is headed by Littleton ‘Tanny’ Shirley. 

The 148,000 square foot complex will house the Portland Municipal Corporation, financial institutions, medical facilities, restaurants, a supermarket, BPO offices, education centres, retail and fast food operators. There is now a 100 per cent take-up of available units. 

This collaboration has already launched the Morant Bay Urban Centre and this one in Portland should be completed by December 2024. It is a one-stop centre for both private and public sector businesses. 

The idea is to replicate them in all parishes in Jamaica.

Speaking at the launch ceremony, Barita’s CEO Ramon Small-Ferguson said: “ A decade ago this project would have been a pipe dream. Jamaica is poised to receive significant investment. The Government of Jamaica now has capacity because it has much less debt. The private sector now has the confidence to partner with the Government. Onlookers from overseas are excited about what we are doing here in Jamaica.

“ Barita is investing in the real economy and we are being creative with our financing. We have unlocked almost US$1 billion in capital to our customers, ploughing back into the real economy.” 

SVP, Investment Banking Terise Kettle added, “ The Boundbrook Urban Centre Limited transaction represents a monumental transaction for Barita Investments Limited. It speaks to the depth of its investment banking team as this represents yet another Public Private Partnership (PPP)  transaction completed by the investment firm.

“It also speaks to the willingness of Barita’s investment banking team to collaborate with its local counterparts, to act in the capacity as Co-Arranger and largest equity partner in the transaction. This transaction also demonstrates that Barita while being one of the newer players in the investment banking  arena, is playing its part in democratising wealth as it continues to create innovative financial solutions for its clients.”

Since 2018, Barita has become a major provider of capital for Jamaicans operating businesses in the real sector. For decades many bemoaned that the banks turned a deaf ear to the pleas for capital to get their businesses started or expand their ventures. The terms were arduous and approval had to be sought from a parent who resided abroad and who were not au fait with the Jamaican landscape.

Now there is a local financier backing Jamaican businesses thus breathing vitality into the real economy.

Barita has provided funding for a number of companies including those in distribution, food services, gaming, construction, investment companies, manufacturing, entertainment, gasoline supply, technology, logistics and other services. These funding projects amount to over US$375 million in deals to those sectors.