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Jamaica’s PPPs Earn International Recognition

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#Jamaica, February 7, 2022 – Prime Minister, the Most Hon. Andrew Holness, says Jamaica has attained an enviable track record of executing large-scale public-private partnership (PPP) and privatisation transactions.  He says specific transactions have been recognised internationally, noting that “we have [among other things] won structuring awards.”

Among these engagements, Mr. Holness points out, are the East-West and North-South legs of the Highway 2000 toll roads, the Sangster International Airport (SIA) and Norman Manley International Airport (NMIA), Kingston Container Terminal (KCT), Wigton Wind Farm, and TransJamaican Highway Limited (TJH).   He was speaking during the Jamaica Stock Exchange’s (JSE) recent 17th semi-virtual Regional Investments and Capital Markets Conference at the Jamaica Pegasus Hotel in New Kingston.

Mr. Holness said the KCT transaction was recognised in 2017 by Infrastructure Journal and Project Finance Magazine/IJ Global as the Port Deal of the Year.

The facility is operated by Kingston Freeport Terminal Limited (KFTL), a subsidiary of global container shipping group, CMA CGM, under a 30-year concession arrangement with the government, which commenced in July 2016.

The concessionaire has invested approximately US$330 million in the terminal since taking over operations.

Mr. Holness also advised that LatinFinance Magazine recognised the US$225M international bond raised for TJH with the Infrastructure Financing of the Year Award in 2020.

The TransJamaican transaction raised J$14.1 billion, the largest sum generated from an initial public offering IPO on the Jamaica Stock Exchange (JSE) to date.

The Prime Minister informed that in 2021, Sangster International Airport copped the prestigious World Travel Award for the Caribbean’s Leading Airport for the 14th time and 13th consecutive year.

The facility is operated by MBJ Airports Limited, a subsidiary of the partnership between Mexican entity, Grupo Aeroportuario del Pacífico, S.A.B. de C.V (GAP), and the Vantage Airport Group, headquartered in Canada, under a 30-year concession agreement.

Mr. Holness pointed out that “of note, as of 2019, Jamaica’s PPP was ranked fourth in Latin America and the Caribbean.”  He advised that the government has established a programme of attractive opportunities for private sector investors to acquire non-core state assets and participate in creating and improving public infrastructure.

“We have structured the opportunities using a variety of mechanisms, including asset sales through listing on the Jamaica Stock Exchange and direct sales to strategic investors, development leases, and PPPs,” Mr. Holness further informed.  He noted that PPPs were previously often viewed by successive governments as a modality to solve public sector budget constraints or financing gaps.

“Our macro-fiscal position has fundamentally changed, and we now have the wherewithal to undertake significant capital investment within the public sector budget. However, PPPs remain our preferred modality for infrastructure development,” the Prime Minister pointed out.  He said the primary reason relates, not just to financing, but to also leverage private sector expertise to assess, price and manage certain types of risks.

“The government’s objectives for the programme also include widening the base of ownership and direct equity participation in the economy and stimulating the local capital markets which are key drivers of private sector-led economic growth,” Mr. Holness added.

The three-day JSE Conference was held January 25 to 27 under the theme: ‘Positioning Capital for Growth: Facilitating, Mobilising and Expanding’.

 

Contact: Douglas McIntosh

Release: JIS

 

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Only Haiti; a one day Prime Minister stripped as Council voting deemed illegal

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Deandrea Hamilton and Rashaed Esson

Editorial Staff

The efforts to restore Haiti have birthed concerns as corrupt actions within the Presidential Council have been unveiled in shocking revelations surrounding the appointment of the nation’s new Prime Minister and the council’s president, voted in on Tuesday April 30, 2024, against the stipulations within the political accord. This has caused tensions among the members of the Council which could lead to disintegration.

The week of April 29, 2024 started with anticipation for the naming of the Prime Minister on April 30, and by the end of the day, the region and world was given great news that Haiti now has a new Prime Minister, Fritz Bélizaire. Also, the Council’s president was named Edgard LeBlanc Fils.

But, on May 1st, news of conflict within the council made headlines and it turns out Bélizaire and LeBlanc Fils were voted in on the decision of only four of seven council members with voting rights.

The remaining members who were supposed to be a part of the decision making by law, under the accords, were left out of the loop. In fact, the quartet has taken on an identity, reportedly calling itself “The Indissoluble Majority” and the Miami Herald informs that a document was released, leaked, which contains the names of the four council members who are Smith Augustin, Louis Gérald Gilles, Emmanuel Vertilaire and LeBlanc.

The vote was taken overnight. Not all of the Council members were present. How their election came to be accepted and then broadcast to the world is worthy of investigation and given the investment of so many countries, to right Haiti’s rickety ship, demands a decent investigation.

Haiti’s political process is fraught with corruption. The development is embarrassing, a significant setback but no surprise.

Regarding the unlawful voting process, an unidentified individual with direct intel, told media that the Council’s political agreement was violated due to how the voting was carried out. It was expected to be a collective decision, as the Accords negotiated and ratified unequivocally stipulate; the design is and has always been to come to a middle ground. No time in recent history have the stakes for Haiti been so high and the need for transparency and honest integrity to be unflinching. Yet, at least four of these members have reportedly disgraced the process and will likely be replaced as the vote is re-executed.

A Wednesday statement to the media has confirmed as much.

It is expected that now, the positions for Prime Minister and the President (of the Council) will be reopened and new members appointed to the council.

 

 

 

 

 

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Bēchë Announces Exclusive Partnership with Miss Universe Turks and Caicos Pageant

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May 2, 2024 – Bēchë, the premier swimwear of the Turks and Caicos, known for its innovative designs, commitment to quality, philanthropy and cultural storytelling, is thrilled to announce its official partnership with the prestigious return of Miss Universe Turks and Caicos Pageant. This collaboration marks a significant step in promoting fashion and beauty, with the event scheduled to take place in Providenciales on July 26th and 27th 2024.

As the exclusive swimwear partner for this esteemed pageant, bēchë will be outfitting all contestants with its latest collection curated specifically for each lady. This collection is designed to empower women and celebrate their individuality. This partnership aligns with bēchë’s mission to inspire confidence and elegance through exceptional swimwear that caters to all body types, while telling a story about our nation.

Event Highlights and Swimwear Showcase

Bēchë’s “Miss Universe Turks” designs will be featured during the promotional photoshoots leading up to the event, during the bikini competition and official photoshoots of the reigning queen. Attendees will witness firsthand the fusion of fashion and poise as the contestants grace the stage in bēchë’s standout pieces, each crafted to highlight the beauty and culture of the Turks and Caicos and our women.

Exclusive Offers and Engagement

In celebration of this partnership, bēchë will offer exclusive promotions and giveaways leading up to and during the event. Pageant attendees and fans worldwide will have the opportunity to engage with both brands through interactive social media campaigns and live-streamed segments of the pageant. The curated collection will be available to the general public for pre-order on the night of the pageant.

A Commitment to Community and Fashion

“Partnering with the Miss Universe Turks and Caicos Pageant is an honor and a testament to our dedication to high-quality, accessible fashion,” said Cyprianna Jackson, Designer and Founder of bēchë. “This event not only highlights the talent and beauty of its participants but also shines a spotlight on the global appeal of inclusive fashion. We are excited to bring our designs to such a dynamic stage and look forward to an ongoing relationship with the pageant.”

The Miss Universe Turks and Caicos organization shares bēchë’s enthusiasm, with National Director Gabriela Clesca stating, “We are truly honored and thrilled to announce the return of the Miss Universe competition to Turks and Caicos after 10 years, alongside our esteemed swimwear partner, bēchë. Together, we’re positioning ourselves to showcase the extraordinary talent and beauty of this island, offering a global stage to showcase the captivating essence of TCI.”

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SANDALS TRAINS IN PREPARATION FOR THE FUTURE  

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~ Caribbean students graduate with Diploma in Hospitality Leadership ~

 

 

May 2, 2024, Montego Bay, Jamaica – In keeping with Sandals Resorts’ mandate to train and develop 400 managers in the next three years, The Sandals Corporate University (SCU) has added another sixteen managers to its growing list of graduates in the Diploma in Hospitality Leadership Programme.

Melissa Migliavacca, valedictorian

The leadership initiative, a partnership with the SCU, Florida International University(FIU) and Accelerating Leaders hosted its second graduation ceremony, at Sandals Barbados which was attended by members of the SCU team, Sandals and Beaches Executives, representatives of FIU and Accelerating Leaders and well-wishers of the graduates.

In his greeting, Dr. Michael Cheng, dean of the Chaplin School of Hospitality and Tourism expressed his joy in celebrating with the team members. He shared, “all of you embody the spirit of service, innovation and community that is embedded into the DNA of Sandals Resorts International. You’ve demonstrated that true leadership is about more than just guiding others. It’s about inspiring them, lifting them up, and striving for excellence in every endeavour. As you move forward from today, remember that the skills and knowledge you’ve acquired are tools not just for personal success, but for making a difference in the world. The hospitality industry, with its endless challenges and opportunities, awaits your contribution. You are the future of this industry, and we have every confidence that you will lead with integrity, creativity, and compassion.”

Managing Director for Sandals Resorts International, Stephen Blackburne, in his keynote address expressed how impressed he was with the graduates for taking a very calculated approach to their future with the organization. He said, “waiting to be asked is a passive approach. Instead continue to be intentional and proactive in shaping your future and making a meaningful impact wherever you go. I urge you to embrace this moment with pride and excitement. You are not just graduates, you are ambassadors of excellence, emissaries of change and architects of the future.”

Je’mel Francis, club sandals supervisor for Sandals Grande Antigua

Students for cohort B were recruited from Sandals Resorts across St. Lucia, Antigua, Bahamas, Turks and Caicos, Barbados and Grenada. Cohorts C and D will commence in April and May respectively, and the SCU anticipates that by the end of 2024, five cohorts will earn their diplomas.

To close out the evening on an inspiring note, Sandals Grenada’s Spa Manager, and valedictorian for Cohort B Melissa Migliavacca, took the time in her address to motivate her colleagues as they look towards the future. She said passionately, “it took discipline, dedication and focus as well as effective time management for us to follow through. There were times that we stumbled upon obstacles but giving up was not an option. Lisa Nichols says, that in this life we can choose to be a victim or a victor, the choice is always ours. I’m so glad we’re all standing victorious today because we made the choice to be brave and sign up for this programme and we saw it through to the end.” She concluded by encouraging her colleagues to pay it forward when they return to their operations by helping train team members and cultivating a standard of excellence.

The Diploma in Hospitality Leadership Programme is a six-month long interactive course leveraging workshops, discussion groups, case studies and industry best-practices.  Entry and mid-level managers are challenged to apply new knowledge, gain advanced skills and create positive behaviours as they prepare for the future and continuous achievement of excellence in the industry.

 

~END~

 

Captions:

 Header – Proud graduates of Cohort B of the Diploma in Hospitality Leadership come together for their group shot ahead of their graduation ceremony. The cohort consisted of managers from Sandals Resorts to include Grenada, Barbados, Bahamas, Turks and Caicos and St. Lucia.

1st insert – Melissa Migliavacca, valedictorian, gave a riveting address on behalf of her colleagues. She encouraged them to return to their resorts and impart what they have learnt to empower their various teams.

2nd insert – Je’mel Francis, club sandals supervisor for Sandals Grande Antigua, paused for a photo with Stephen Blackburne, managing director, SRI as he collected his diploma certificate. The Diploma in Hospitality Leadership Programme is offered by SCU in partnership with Accelerating Leaders and the Florida International University.

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