Introducing a Local Super App Alternative
InterMetroONE— a SuperApp under RedPlate Group Limited—offers air travel transfers, coach rides (like the upcoming JUTA Express), taxis, parcel courier service, groceries, and more, all in a single platform. In parallel, Walkbout.com is launching guided local experiences and cultural tours, tailored to small hotels and boutique hosts—positioning itself as a geolocal, authentic alternative to Airbnb Experiences .

Together, these two Jamaican startups hope to form the first fully integrated, locally led travel superapp—a provider-owned ecosystem unifying ground transport, tours, and boutique lodging—on Jamaican soil.

Why This Local Startup Could Succeed

1. Homegrown & Compliant
InterMetroONE already partners with national operators—notably JUTA Express launching in 2025—maintaining regulatory standards and local trust .

2. Multi-Service “One-Stop” Solution
Unlike global platforms, this app includes:
• Scheduled luxury bus and coach routes, with real-time tracking and no overcrowding
• Airport-to-hotel transfers, group charters, and executive vehicles
• Courier, grocery delivery, and soon,
• Walkbout local experiences—where travelers can engage local guides for deep-dive tours

3. Strengthening Small Operators
By aggregating bookings, logistics, and marketing, InterMetroONE can enable boutique hotel owners and taxi drivers to collaborate—without a Silicon Valley middleman. This could reduce leakage of commission and retain economic value in Jamaica.

Voices from the Ground

“Buses that run on time and aren’t overcrowded? That’ll be a game changer,” says a Montego Bay commuter, reflecting public frustration with unreliable transit

“We tried privatizing… coaster buses… commuting… nightmare. Regulation is the key.”

These voices underscore critical demand for reliable, regulated, privately managed transport systems like InterMetroONE.

Winning Together: A Roadmap for Collaboration

To make InterMetroONE–Walkbout successful for all stakeholders, local operators should:

1. Adopt Platform Tools
o Taxi associations, guesthouses, and tour guides should integrate into the app to capitalize on airport transfers, bus scheduling, and tours.

2. Bundle Services
o Boutique hotels can offer “Stay + Transport + Tour” packages using Walkbout experiences and InterMetro transfers as a single SKU.

3. Win Trust via Quality & Compliance
o Upfront certification, training, and standardized pricing under one local brand will build trust and consistency—unlike fragmented global platforms.

4. Promote Data-sharing & Feedback
o Operators can co-develop service improvements via shared metrics—e.g. tourist route demand, seasonal peaks—benefiting all.

5. Leverage Community Networks
o Word-of-mouth remains powerful. InterMetroONE can host info sessions in parishes to onboard small providers and build local ambassador networks.

Policy Must-Haves: Enabling the Local Answer
To support this model, five critical government measures are recommended:
1. Digitization Grants – Provide micro-grants or loans for small operators to access certification, insurance, app training.
2. Regulatory Parity – Ensure InterMetroONE offers drivers and guides the same professional license standards as JUTA—a level playing field.
3. Revenue Reinvestment – Structure tourism taxes or fees to match platform growth, ensuring earnings stay within local economies.
4. SME Networks – The Ministry of Tourism should facilitate full operator onboarding into the platform—including training programs, public trust campaigns.
5. Monitor Economic Leakage – Commission an independent impact study on how much tourist spend stays local versus platform-bound.

Vision: A Jamaican Model for the Caribbean
If successful, InterMetroONE and Walkbout can be more than a Jamaican solution—they could become a regional standard, adaptable to other Caribbean islands seeking locally anchored digital economies.

Call to Action: How Your Business Can Join the Journey
• Small hotels: Propose pilot transport + experience packages this summer.
• Taxi & bus operators: Partner with InterMetroONE as certified drivers or fleet providers.
• Tour guides: Join Walkbout.com to bring unique, heritage-led experiences.
• Policy-makers: Prioritize digital tourism frameworks and SME support.

Businessuite Online Summary
• A Jamaican-led, regulated, fully integrated travel app could beat global disruptors by staying local, compliant, and collaborative.
• Now is the time for SMEs, associations, and government to align—ensuring that if Uber and Airbnb ever arrive together, Jamaica’s own ecosystem remains vibrant and in control.

Effective communication with investors is not merely a compliance exercise; it’s a strategic imperative that influences a company’s market valuation and access to capital.

Key benefits include:

Enhanced Market Valuation: Transparent and consistent communication reduces information asymmetry, leading to improved investor confidence and potentially higher stock valuations.

Improved Liquidity: Engaged investors are more likely to trade shares, increasing liquidity and reducing volatility.

Broader Investor Base: Proactive communication attracts a diverse range of investors, including retail investors who can provide stability and advocacy for the company.

Resilience During Crises: Companies that maintain open lines of communication are better positioned to navigate challenges and retain investor trust during turbulent times.

Global Trends in Investor Relations
Internationally, companies are adopting innovative strategies to engage with investors:

1. Digital Engagement Platforms
Companies are leveraging digital tools to provide real-time updates and interactive content:
Investor Portals: Secure platforms offering access to financial reports, updates, and company news.
Webinars and Virtual Events: Facilitating direct interaction between management and investors.
Social Media: Utilizing platforms like LinkedIn, Twitter, and YouTube to disseminate information and engage with a broader audience.

2. Personalized Communication
Tailoring messages to specific investor segments enhances relevance and engagement:

Segmented Reporting: Providing information tailored to the interests of different investor groups.
Interactive Content: Using videos, infographics, and interactive reports to make complex information more accessible.

3. Emphasis on ESG Reporting
Environmental, Social, and Governance (ESG) factors are increasingly influencing investment decisions:

Transparent ESG Disclosures: Providing comprehensive reports on ESG initiatives and performance.

Integrated Reporting: Combining financial and non-financial information to present a holistic view of the company’s performance and strategy.

Recommendations for  Caribbean Listed Companies
To bridge the communication gap and unlock shareholder value, Caribbean listed companies should consider the following strategies:

Establish Robust Investor Relations Programs: Develop dedicated IR teams or functions responsible for managing investor communications and relationships.

Leverage Digital Channels: Utilize websites, social media, and email newsletters to provide timely and accessible information to investors.

Host Regular Investor Events: Organize webinars, virtual town halls, and Q&A sessions to engage directly with investors and address their concerns.

Enhance Transparency and Disclosure: Provide clear, comprehensive, and timely information on financial performance, strategic initiatives, and ESG efforts.

Solicit and Act on Investor Feedback: Implement mechanisms to gather investor input and demonstrate responsiveness to their concerns and suggestions.

Adopt Integrated Reporting Practices: Combine financial and non-financial reporting to present a cohesive narrative of the company’s value creation strategy.

By embracing these practices, Caribbean listed companies can foster stronger relationships with investors, enhance market perceptions, and potentially realize higher valuations that reflect their true intrinsic value.

Albert Bailey Chief Executive Officer Has Released The Following Report On The Financial Performance Of Spur Tree Spices Jamaica Limited For The First Quarter Ended March 31, 2025, Including The Presentation Of Unaudited Financial Statements Prepared In Accordance With International Financial Reporting Standards

The Company’s overall results for the first quarter were shaped by several ongoing challenges in the agro-processing sector. These challenges disproportionately impacted the subsidiaries. However, amidst these challenges, there were many positive indicators, including continued double-digit revenue growth in the traditional seasonings and sauces segment of the business. While profit performance for the quarter declined compared to the corresponding period for 2024, the company remains on track for a successful year. In the coming months, all indicators point to the normalisation of key raw material supply, including ackee. These factors, combined with expected growth from new product segments and continued expansion of traditional product categories, put the company on a firm path to continued success.

Consolidated revenue for the first quarter totalled J$336.39 million, compared to J$394.49 million in the corresponding period 2024, representing a 17.3% decline. This was primarily due to continued constraints in the supply of ackee, a key raw material for the Company’s subsidiaries. Despite this challenge, the Company recorded notable growth in several categories, including seasonings, sauces, and dried products, supported by expanded distribution in local and export markets, strong consumer demand, and the successful launch of new product lines.

Cost of Sales for the period amounted to J$245.86 million, or 73.09% of revenue, compared to J$287.62 million (72.91%) in Q1 2024. The slight increase in the cost-to-revenue ratio reflects the shift in product mix, as the Company adjusted production output to include a higher proportion of lower-margin items in response to the limited availability of ackee. Though not ideal, these measures enabled the business to sustain production and meet customer demand amidst raw material constraints.

Gross Profit for the quarter was J$90.53 million, down from J$106.86 million in the corresponding period of the previous year, a 15.3% decline. This was driven by the revenue reduction and a greater contribution from lower-margin substitute products produced during the ackee shortfall.

Nonetheless, the Company remains optimistic about the recovery of gross margins in the coming quarters. Continued rollout of new and value-added products across core and subsidiary operations is expected to improve the overall margin profile. In addition, the gradual recovery of ackee supply, enabled by targeted investments in farming and expanded sourcing, is expected to restore availability and strengthen the Company’s higher-margin revenue base. Together with ongoing cost-efficiency measures, these strategic actions are anticipated to drive improved profitability as the year progresses.

Administrative Expenses for the quarter amounted to J$69.62 million, representing a 2.5% reduction compared to J$71.38 million in Q1 2024. This reflects the Company’s disciplined approach to cost management and operational efficiency while ensuring that critical support functions remain in place to advance strategic objectives.

Finance Costs rose to J$12.05 million, compared to J$9.54 million in the same period last year, an increase of 26.3%. This was primarily due to interest on an additional J$55 million loan secured to support Spur Tree’s farming operations. This investment is key to the Company’s broader strategy to stabilise raw material supply and ensure production continuity.

Net Profit attributable to the Company totalled J$12.00 million, down from J$28.18 million in Q1 2024, representing a 57.3% decline. The result was mainly impacted by the continued raw material shortages affecting subsidiary operations, which offset gains achieved through product expansion and cost containment elsewhere in the Company.

At the end of the reporting period, Cash and Cash Equivalents stood at $131.7 million, reflecting a 26% increase over the $104.4 million reported for the corresponding period in 2024. Total Assets increased to $1.68 billion, up from $1.56 billion, representing an 8% yearover-year improvement. Shareholders’ Equity also strengthened, rising by 9% to $1.03 billion compared to $948 million in the prior year.

Although the consolidated performance fell below expectations for the quarter, the Company remains confident in its long-term strategy. Investments in farming, supply chain resilience, and innovation are expected to yield increasing benefits in the quarters ahead, supporting recovery and future growth.

Outlook

The outlook for 2025 remains positive despite the temporary headwinds experienced in the first quarter. The Company continues to demonstrate resilience and growth in its core operations, with strong performance across established and new product categories, supported by increased market penetration locally and internationally.

The Company expects continued growth in the traditional product segments, supported by the rollout of new products, increased domestic sales through expanded retail penetration and stronger trade execution, and the scaling of its Amazon and e-commerce presence through optimised listings, targeted advertising, and improved fulfilment efficiency.

The Company’s subsidiaries are actively pursuing product diversification strategies to safeguard the ackee supply, which we expect to normalise in the coming months. The Company is also broadening its portfolio to include other complementary items. This will lead to a return to an overall profit position by the end of the year.

Investment in direct farming continues to be a cornerstone of the Company’s strategy. It enhances the availability of raw materials and strengthens supply chain resilience. These efforts are expected to increase value throughout the year, supporting operational stability and margin recovery.

With these initiatives firmly in motion, the Company is well-positioned to build momentum over the coming quarters. Management remains focused on delivering sustainable growth and creating long-term value for all stakeholders.

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The Bank of Jamaica (BOJ) Monetary Policy Committee (MPC) has unanimously agreed to reduce the policy rate by 25 basis points from six per cent to 5.75 per cent per annum, effective May 21.

The policy rate is offered to deposit-taking institutions (DTIs) on overnight placements with the BOJ.

Central Bank Governor, Richard Byles, speaking during the Quarterly Monetary Policy Report press conference at the Jamaica Conference Centre in downtown Kingston on May 21, said the decision was taken after careful consideration of the implications of global developments, recent economic trends, and the outlook for the Jamaican economy.

The Governor pointed out that the incoming economic data on Jamaica continues to point to a stable domestic economy with inflation remaining in the four per cent to six per cent target range.

“On the 15th of May, the Statistical Institute of Jamaica (STATIN) reported that headline inflation as at April 2025 was 5.3 per cent, in line with the out-turn for April 2024. Headline inflation has, therefore, continued to remain within the Bank of Jamaica’s target. Also, core or underlying inflation remains low,” he pointed out.

He further noted that core inflation, which excludes the prices of agricultural food products and fuel from the consumer price index, was 4.4 per cent at April 2025, remaining below six per cent since July 2023.

“The stable and relatively low inflation out-turn primarily reflected the end of the impact of previous price increases for regulated items, such as bus and taxi fares, and no new such increases, which offset higher food inflation. Moreover, the exchange rate, imported inflation and the private sector’s expectations of future inflation have been fairly stable,” he said.

Governor Byles said the MPC also agreed to preserve relative stability in the foreign exchange market.

He noted that expectations about exchange rate depreciation have remained fairly stable.

“At the 14th of May 2025, the exchange rate had depreciated on a year-over-year basis by 1.9 per cent. There was a mild uptick in the pace of depreciation between end April and early May in the context of a slight increase in demand and a build-up of foreign exchange positions by authorised dealers.

“In response, the Bank augmented flows in the market. Cumulatively, BOJ has sold US$1.1 billion via the BOJ-Foreign Exchange Intervention & Trading Tool (B-FXITT) facility over the 12 months to the end of April 2025, compared to US$983 million over the 12 months to the end of April 2024. However, it is important to note that the Bank net purchased approximately US$1.1 billion over the 12-month period to April 2025,” he said.

Mr. Byles noted, further, that as at 14th of May, Jamaica’s gross international reserves remains healthy, amounting to US$5.9 billion or 135 per cent of the measure considered adequate.

He said there has been moderation in imported inflation in the March 2025 quarter relative to the December 2024 quarter, noting that, specifically, oil prices declined during the quarter relative to the previous year.

“The Bank estimates that the domestic economy grew in the range of 0.0 to 1.0 per cent for the March 2025 quarter, which translates into an estimated contraction of -1.0 to -0.5 per cent for the financial year 2024/25. Finally, while employment levels remain high, anecdotal data suggest that wage pressures are moderating,” he added.

By: Chris Patterson, JIS

Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry said it is projected that the economy will grow within the range of 0.5 per cent to 1.5 per cent in April to June 2025, relative to April to June 2024.

The Director General explained that this performance will be supported by increased output in agriculture, due to the continued strengthening in domestic crop production and a reduction in the drag on growth from the export crop component as longer-term crops begin to recover.

Hotels & Restaurants are also expected to contribute to growth, largely due to the anticipated increase in stopover arrivals associated with events such as spring break, Easter holidays and Jamaica carnival.

Construction will also be a growth driver due to the impact of the rollout of infrastructure projects at the start of the new fiscal year to include roadworks and residential and non-residential construction activities, Dr. Henry said.

He noted that growth will also be supported by increased domestic demand due to relatively high levels of employment and increased consumer confidence.

“Preliminary data for the quarter indicate some positive movements in support of this projection. Preliminary data on airport arrivals for April 2025 indicate an increase of 5.3 per cent relative to April 2024. However, for the Mining & Quarrying industry, data for April indicates that the heavier weighted alumina production contracted by 12.3 per cent, while crude bauxite production increased by 3.9 per cent,” he explained.

The projection for Fiscal Year 2025/26 is for growth within the range of one to two per cent.

The Director General said that all industries are forecast to record growth, as the recovery from the weather-related shocks in 2024 will become more pronounced in the latter half of calendar year 2025.

He advised that the downside risks to this positive outlook include unplanned factory downtime associated with aged production plants, particularly in the Mining & Quarrying and Manufacturing industries, weather-related shocks associated with the start of the hurricane season, and lower-than-anticipated external demand for Jamaican goods.

By: Judana Murphy, JIS