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Paula Barclay Barita Investments Limited Businessuite 2020 #1 Jamaica Main Market Chief Executive Officer (CEO)



Businessuite 2020 #1 Jamaica Main Market CEO – % change US$ Profit after Tax Chief Executive Officer (CEO)
NR NR US$000 US$000 %
2020 2019 Company 2020/2019 2019/2018 2020 Change
1 Barita Investments Limited Paula Barclay $12,920 $2,844 354.28%

Paula Barclay, General Manager
Prior to joining Barita, Mrs. Barclay held several roles at the GraceKennedy Group including, Group Treasurer, Managing Director of First Global Leasing as well as General Manager, Chief Credit Risk Officer, Senior Vice President for Personal and Business Banking and Vice President of Corporate Banking at First Global Bank. At First Global Financial Services Limited she served in the capacity of Vice President for Pension Fund Management and Vice President for Business Development. She also served on various boards and committees that governed the GraceKennedy Group. Mrs. Barclay holds an MBA from Barry University and has completed ‘The Leadership Journey’ at The Wharton Business School.

Barita Investments Limited (“Barita” or “the Company”), is a publicly traded company on the Jamaica Stock Exchange (JSE), 79.7% owned by Cornerstone Investments Holdings Limited (“Cornerstone”). Founded by Rita Humphries-Lewin in 1977, the Company has the distinction of being one of the oldest stock-broking companies in Jamaica. The Company is licensed by the Financial Services Commission (“FSC”), is a member dealer of the JSE and is a Primary Dealer and Cambio Dealer for the Bank of Jamaica (“BOJ”).

Barita, home of Jamaica’s top performing equity fund – has a legacy of excellence, recognized as a particularly strong player in the middle market retail segment and a leader in Unit Trust performance.

Through its subsidiary Barita Unit Trusts Management Company Limited (“BUTM”), Barita currently offers eight (8) unit trust products spanning fixed income, equities and real estate.

Barita serves its clients island-wide through its Head Office in Kingston and branches in Mandeville and Montego Bay. Barita handles over J$180.0 billion dollars of funds, with a team of 128 members across its operations island-wide.

Barita demonstrated growth across all areas of the business during the financial year. This was the direct result of our business transformation and enhanced strategic focus, ultimately leading us to the strongest financial performance in our 42-year history. It meant a 371.0% increase in Net Profits attributable to the company’s shareholders toJ$1.7 billion (EPS: J$2.42) in FY 2019 relative to J$363.2 million (EPS: J$0.56) in FY 2018.

Our three (3) successful capital raising exercises resulted in J$10.2 billion in fresh equity capital in the business, quadrupling the Company’s capital position; these were vital to our great success in FY 2019. We closed the year with a capital position of J$13.7 billion relative to J$3 billion in FY 2018 and a record total asset position of J$41 billion relative to J$18.9 billion in FY 2018.

Total Revenue rose 205.0% YoY to J$4.0 billion from J$1.3 billion in FY 2018.

The marked rise in Revenue YoY was driven by material increases in most revenue lines throughout the year resulting from the effects of our strategy which has been characterised by:

Addition of New Business Line
The launch of our Investment Banking business added approximately J$300 million in Revenue in FY 2019.

Increased Capitalization
The significant increase in Barita’s capitalization from the fundraising activity throughout the financial year supported Balance Sheet growth, which in turn supported growth in both Net Interest Income & Foreign Exchange and Securities Trading lines.

Customer Acquisition & Engagement
Increased customer acquisition and engagement driven by our strategic marketing and sales efforts throughout the year supported increased transactional volume and value, leading to a rise in fee income throughout the year.

Extracted from Management Discussion & Analysis

Paula Barclay, General Manager

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Businessuite Women

Workshop to Empower and Advance Women in Business



Minister of Culture, Gender, Entertainment and Sport, Hon Olivia Grange (centre), converses with Representative, UN Women Multi-Country Office, Caribbean, Tonni Brodber (second right), at the inaugural United Nations (UN) Women Yemanja Collaborative: Leadership and Networking Workshop for Woman Entrepreneurs, being held in Kingston. from December 5 to 7. The opening ceremony was held December 5 at the ROK Hotel, downtown Kingston. Others (from left) are: Looking on are (from left): Chair of the Government of Jamaica Trade Facilitation Task Force, Patricia Francis; Head of Culture Programme, UNESCO, Office for the Caribbean, Yuri Peshkov; and Minister of State in the Ministry of Industry, Investment and Commerce, Dr. the Hon. Norman Dunn. PHOTO: MICHAEL SLOLEY

The inaugural United Nations (UN) Women Yemanja Collaborative: Leadership and Networking Workshop for Woman Entrepreneurs is being held in Kingston from December 5 to 7.

The initiative targets women of Afro descent from the Caribbean, North and South America and Africa.

It aims to strengthen leadership capacity, empower and equip participants to scale their businesses and create meaningful jobs.

The workshop also facilitates network building and creates mentorship opportunities for entrepreneurs in the agro processing and cultural and creative industries.

Minister of Culture, Gender, Entertainment and Sport, Hon. Olivia Grange, in her greetings at the opening ceremony, held December 5 at the ROK Hotel, downtown Kingston, welcomed the initiative.

Ms. Grange said the workshop aims to empower and advance women in business to create a framework that supports gender equality in the society.

“This training and networking workshop presents a great opportunity for us to examine the progress made in advancing gender equality and empowerment of women and girls and explore how progress can be accelerated,” the Minister said.

Representative, UN Women Multi-Country Office, Caribbean, Tonni Brodber, in her remarks said the focus on its target group is not exclusionary. Rather, it recognises the unique sociohistorical barriers that have prevented and still prevent many Afro-descendant women across the world from entrepreneurship.

“[A key] objective of the project is to contribute to enhancing the economic empowerment and resilience of women and youth in the micro, small and medium enterprises in the creative and cultural and growth industries in Latin America, the Caribbean and Africa through strengthened networks and opportunities for employability and entrepreneurship,” she said.

The participants were nominated by their national business support organisations.

The three-day event will see participants engaged in leadership skills coaching and will feature breakout sessions with a focus on coaching in business pitches, diaspora and networking opportunities in Africa and the diaspora, business development coaching, and business financing facilities.

These will be facilitated by industry experts from UN Women, the Jamaica Business Development Corporation (JBDC), the University of the West Indies (UWI), and the Caribbean Development Bank (CDB), among other local and international stakeholders.

At the end of the workshop, participants will pitch their business plans/proposals and receive feedback from a panel of experts.

It is a joint programme between UN Women and the United Nations Educational, Scientific and Cultural Organisation (UNESCO), which aims to promote the recognition, justice and development of Afro-descendant women, youth, and women across marginalised groups.


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Businessuite Women

JAMPRO’S Film Commissioner to join International Women’s Forum Global Leaders Fellows Program



Film Commissioner at JAMPRO, Renee Robinson, has been selected to be part of the International Women’s Forum Global Leaders Fellows Program for the year 2022-23. The year-long, intensive leadership development experience prepares Fellows to be leaders for tomorrow through multidisciplinary training that develops the participants’ leadership and management capabilities.

“This opportunity will allow me to fluently speak the language of international deal-making, advance the focal shift of business towards the creative economy, and solidify access to financing for our creative practitioners.”

Robinson’s selection was based on her career as an orange economy expert, content strategist, and thought-leader. She has served as Jamaica’s Film Commissioner since 2016, with responsibility for national economic growth and economic impact of the screen-based industries, advancing employment, film production expenditure, and contribution to GDP (Gross Domestic Product).

JAMPRO’s President, Diane Edwards, said that “we congratulate Renee for being selected to join this prestigious Fellows Programme. We look forward to seeing her advancement in the next year, and her continued excellent work to develop Jamaica’s creative economy”.

Reacting to her selection for the Fellows Program, Ms. Robinson said it demonstrates the rising shift towards business-focused entertainment industry as a valid economic driver. She noted, “Investing in the creative economy is not philanthropy or corporate social responsibility; it is, in fact, lucrative and critical for socio-economic development. Through the Fellowship, I plan to groom my skills in influencing business decisions that support the creative economy.”


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Businessuite News24

€7-Million Grant For Women In Business And MSMEs



Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke (left), and General Manager (Acting), Inter-American Development Bank (IDB) Caribbean Country Department Group, Carmen Madriz, shake hands following the symbolic signing of a Non-Reimbursable Agreement for the European Union’s provision of a €7-million (over J$1.2-billion) grant for the Government’s Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme. The signing was held during a Visibility Ceremony at The Jamaica Pegasus hotel in New Kingston, on Wednesday (May 25).


The Government’s Boosting Innovation, Growth and Entrepreneurship Ecosystems (BIGEE) Programme has been bolstered with a €7-million (over J$1.2-billion) grant from the European Union (EU).

This will provide support for female-led businesses by helping them to build their capacity to contribute to the economy; assist recovery of micro, small and medium-sized enterprises (MSMEs) from the economic fallout resulting from the COVID-19 pandemic; and support stakeholder climate change mitigation and adaptation projects that contribute to resilience and sustainability.

The funds are being facilitated through a Non-Reimbursable Financing Agreement under the EU’s Caribbean Investment Facility and will complement the US$25-million loan for the BIGEE programme that was provided by the Inter-American Development Bank (IDB), which will administer the grant.

The BIGEE Programme, which is being implemented by the Development Bank of Jamaica (DBJ), aims to promote sustainable and robust growth among start-ups and MSMEs.

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke; Head of the European Union Delegation in Jamaica, Ambassador Marianne Van Steen; General Manager (Acting), IDB Caribbean Country Department Group, Carmen Madriz; and DBJ Managing Director, Anthony Shaw, participated in a symbolic grant agreement signing on Wednesday (May 25).

This was held during a visibility ceremony at The Jamaica Pegasus hotel in New Kingston.

Dr. Clarke, who conveyed the Government’s gratitude for the EU’s support, said the BIGEE Programme is geared towards positioning innovation at the centre of the business ecosystem.

“For [Jamaica] to have the kind of economic growth that can support the kind of jobs [we are seeking to generate], we need value-added private-sector activity which is based on innovation,” he stated.

In this regard, Dr. Clarke, who is also Chairman of the IDB’s Board of Governors, said the BIGEE programme “underscores the Government’s commitment to promoting financing and investing in innovation”.

Mr. Shaw said the grant agreement represents “another step in the long-standing fruitful relations between Jamaica and one of our most dependable international development partners – the EU”.

Ambassador Van Steen, in her remarks, said the grant was indicative of the EU’s renewed commitment to fostering entrepreneurship in Jamaica, in a sustainable way.

“The development of micro, small and medium enterprises is critical, not only to the Jamaican economy but to the economies in all countries. Here in Jamaica, they are playing a vital role in the Government’s efforts to spur economic recovery from the COVID-19 pandemic,” she stated.

Meanwhile, Mrs. Madriz said the grant represents “another important milestone in the effort of the Government of Jamaica, Development Bank of Jamaica and the Inter-American Development Bank to strengthen the country’s business ecosystem”.

The BIGEE Programme’s specific objectives are promoting innovation and productivity among established MSMEs with high growth potential, promoting sustainable growth in scalable start-ups, and creating a sustainable pipeline of high-growth potential start-ups.

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Businessuite Women

Businessuite Power 50 Women in Jamaican Business for 2022



BUSINESSUITE Magazine’s  ranking of Jamaica’s leading businesswomen provides a unique opportunity to secure an insight into the professional lives and activity of some of the most interesting and inspiring women in Jamaica’s private sector today.

How we pick the Power 50

What qualities can adequately describe a woman of power and influence on a national level? She is often described as ambitious, driven, determined, creative, a confident leader and a risk-taker. She allows her passions to order her steps, her gifts and her talents to become her own personal calling card.

Powerful and influential women are thriving in their business lives across Jamaica and so the move by the BUSINESSUITE editorial team to select, based on the format created by FORTUNE magazine editors, the 50 most powerful and influential women was truly a daunting task.

As stated, the selection process for the BUSINESSUITE list of the ’50 Most Powerful and Influential Business Women’ is based on a general format created and used by the editorial team of FORTUNE Magazine. This includes:

1. The general size (Revenue, Profitability and Human Resource) and importance of the woman’s company in the Jamaican economy;
2. The health and direction of the company;
3. The arc of the woman’s career and;
4. Societal and cultural influence of the business as informed by key industry insiders and published information

It must however be noted that since BUSINESSUITE Magazine is not privy to the financial statements of some of the companies mentioned, this was not heavily factored into our final listing and placements. Readers are therefore invited to debate and discuss the names and placement of individuals.

They aren’t just successful executives, entrepreneurs, or administrators who are admired and respected within their own organisations, they are the voices that are heard across the industries in which their companies operate, even across corporate Jamaica as a whole.

The Presentation Event – October 2022
The awards will be given to 50 women business leaders who have achieved strong results in their respective fields. This will be the 1st edition of Businessuite Magazine’s Most Powerful Women Awards, to be held in October 2022. Details to come.

The awards are aimed at honouring remarkable Jamaican women who have made outstanding contributions to their organisations and set new standards of administration and performance across corporate Jamaica and the economy.

We will also be seeking to recognise and identifying Rising Stars and Women Abroad.

The Special Edition – October 2022
The event felicitates the most powerful women in Jamaican business and salutes the spirit of successful business women with a special issue of Businessuite Magazine ‘Most Powerful Women in Business” Jamaica Edition. Details to come

See also

The Top 40 Most Powerful and Influential Women in Jamaican Business for 2016.

Businessuite Power 50 Women in Jamaican Business for 2013

Businessuite Power 50 Women in Jamaican Business for 2012

Businessuite Magazine December 2014 Digital Edition

BUSINESSUITE Magazine October 2012 Digital Issue

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Taking Stock LIVE – CEO and Founder of Island Grill, Thalia Lyn Opens Up



Jamaican fast food chain Island Grill, is expanding! The eatery is seeking to employ 1-hundred new staff, including positions at a new Spanish Town restaurant. But what are their plans beyond Jamaica? And will they ever do an IPO? CEO and Founder of Island Grill, Thalia Lyn, joins us.

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