Private sector can lead Jamaica's post-Melissa recovery, Barita CEO says

Business leader and Member of Parliament Ramon Small Ferguson says Jamaica's private sector is well placed to lead the country's economic rebound after Hurricane Melissa dealt a heavy blow to activity, compounded by oil-price pressure linked to the United States' war on Iran.

Speaking at Barita Investments' annual general meeting, Small Ferguson — who is also the company's chief executive officer — reported cautious optimism among business owners about the path ahead.

He argued that private firms appear ready and able to work with the government over the coming years to restore earlier growth rates and, if possible, exceed them. Recovery, he said, must sit at the centre of Jamaica's growth outlook in the quarters ahead.

"The private sector appears to be well suited and prepared to collaborate with government over the course of the ensuing years to seek to bring the economy back to former levels of growth and hopefully surpass those levels of growth. So, you know, the the recovery will will need to be central to future quarters of growth here in Jamaica," Small Ferguson said.

At the AGM he also stressed the returns Barita has delivered for investors in recent years, pointing to strong value creation since Cornerstone's acquisition of the firm.

"You know, over the last eight years minority shareholders have experienced a sevenfold growth in their investment if they had invested alongside Cornerstone at the as at the acquisition did and we intend to continue along that pathway of value creation for all the shareholders of Barita," he said.