Durrant Pate/Contributor 

The European Investment Bank (EIB) is looking at bankrolling Jamaica’s newest mobile, Rock Mobile, which has been seeking to get off the ground for the past five years.

The EIB is now analysing financing for Rock Mobile to support its 4G expansion. The proposed financing, which is under appraisal, is to the tune of 4-million Euros (J$725.2 million). 

The total project cost of 29 million Euros (J$5.25 billion) involves the acquisition and deployment of a 4G wireless network in the Kingston metropolitan area and surrounding parishes to provide fixed wireless access services. The network will consist of a 4G evolved packet core and around 100 radio access network nodes installed at existing sites managed by a tower company.

Stalled rollout of services

This is in addition to the necessary transmission elements, service platforms, information systems and other ancillary systems and services. Rock Mobile obtained spectrum in an international bidding process in early 2021, but to date has not launched services. 

The company had planned to invest US$90 million to build Jamaica’s new wireless data network. Last year, the government of Jamaica reported that Rock Mobile would start services in 2025 after receiving a new extension to complete the deployment project.

The government also reported that Rock Mobile was granted in 2024 a further final 12-month extension to roll out its services to the public, as well as a 12-month deferral of payment of the annual spectrum license fee. A prior extension had been granted due to the pandemic and ongoing supply chain complications. 

Last year, the government reported that Rock Mobile’s financing had finally been approved, allowing the company to complete the rollout within the specified timeframe. Rock Mobile (which also trades as Rock Connect) is led by Executive Chairman Bruce Bowen, who, up until recently, headed National Commercial Bank Jamaica, and before that Scotiabank Jamaica and his wife, Suzanne Fernando-Bowen.

The firm, registered under Rock Capital Partners, was established to enter the Jamaican market as a third mobile operator, focusing on 4G-LTE and 5G-ready services.