Africa, arise!
PM woos investors to tap Jamaica’s economic opportunities
PRIME MINISTER Andrew Holness yesterday sought to woo Kenyan investors, telling them to come to invest in infrastructure and energy in a bid to deepen the island’s relationship with the African continent.
Holness, who is on official duties in Kenya, said that he has sought to engage African countries since he took office in 2016.
The prime minister also mentioned that Uhuru Kenyatta, the president of Kenya, visited Jamaica recently and has had a first-hand look at what the economy has to offer.
“The important thing about developing the business relationship is also about having a people-topeople understanding. And for far too long, we have spoken in glowing terms about our relationship, but we haven’t really utilised the value of that relationship to layer on top of that the business opportunities,” said Holness in his opening remarks during the 9th African, Caribbean and Pacific (ACP) Summit Presidential Dialogue in the Kenyan capital, Nairobi.
Holness urged Africa and the Caribbean to go beyond the cultural and sporting ties already established and to explore new frontiers in business.
The prime minister cautioned nations against considering Jamaica’s relative small size and market to be an inhibiting factor in developing stronger economic bonds.
In rolling out the welcome mat, Holness cited Jamaica’s worldbeating stock market as a big drawing card for foreign investment.
“There is a great opportunity for investors here in Kenya and in the wider African continent to look to Jamaica for investment opportunities, and we welcome you. Jamaica and the rest of the Caribbean, we have stable democracies, we have very stable economic policies, particularly fiscal policies, so this is a good environment for investors to place resources,” said Holness, talking up the favourable macroeconomic shift that has flowed from an International Monetary Fund regime that has driven down the debt-toGDP ratio.