Advertisement

T&T foreign exchange shortage forcing some businesses to look to Jamaica

 
Reports are that Trinidad and Tobago's ongoing foreign exchange shortage is forcing several business leaders to look outside the country for solutions.
 
Many are now turning to Jamaica, either to raise capital or access new markets. 
 
One example is PriceSmart, which is seeking to raise US$50 million in Jamaica with the help of GK Capital Management.
 
In a similar move, the Mayberry Group recently assisted A.S. Bryden Holdings, a Trinidad-based subsidiary of the Seprod Group, in refinancing US$14.38 million in debt.
 
The company has also acquired an 80% stake in Caribbean Producers as part of efforts to boost its ability to earn foreign exchange.


Most Popular
VM Group employee facing fraud charges
Gas prices down $1.62, diesel up $2.56