“We are very bullish on the potential of this business, as we believe we have the right product which will cater to ALL markets at the right time for the right price.” Bernard Henry, Chairman of RedBk Jamaica

Well it’s finally here and from all indications we are about to witness another David versus Goliath battle as RedBk Jamaica Limited was on last Thursday morning officially launched to corporate Jamaica.

According to Bernard Henry, Chairman of RedBk Jamaica, speaking at the launch event, “The idea of RedBk came about as a direct result of the challenging economic times in which Jamaica now finds itself.   About five to six months ago a group of  local investors got together to brainstorm about outside the box opportunities that would fill a need in the market place, while at the same time help to stimulate the economy and create jobs.”

Speaking to the gathering of corporate CEO’s and Entrepreneurs, Henry went on to say, “Based on my own experience in the retail mobile phone market and the fact that Jamaica now has more cell phones than people, we saw the need to allow these customers the opportunity to list their goods and services in a way that they might not have considered before. As such we looked at the Directory Services market a little differently; instead of seeing the 400,000 plus landlines, we looked beyond to the total market of 2,000,000 plus potential customers with both landline and cellular phones.”

(L-R) Bernard Henry Chairman and Richard Robinson -Chief Operating Officer RedBk Jamaica Limited speaks to Mark Linehan President and CEO Digicel Jamaica Limited

“In our review of the marketplace, it became obvious that in addition to the large corporations and SMEs, the micro business and members of the informal sector were also potential customers. In fact, our market research showed that residents with cellular numbers, but who were not in business, were interested in listing their numbers, once the cost was affordable.”

In addressing the question on everybody mind, Henry gave an insight into how he plans to finance the business going forward. “The shareholders of RedBk Jamaica Limited are primarily local investors who have also brought on board international experts in the Directory Services business with over 50 years’ experience. The company will have a total investment of upwards of $200 million over the next few months, which will be primarily equity, with some debt.”

In an environment of economic uncertainty and with many investors holding back Bernard Henry indicted that he was very bullish on Jamaican and Jamaica future and as such “We are here for the long term, as we have the skill sets, organizational structure and financial support necessary for sustainability.  We are committed to Jamaica and want to be a part of the future development of our country. Indeed, RedBk plans to be a major player in the Directory Services business from the very beginning. As you learn more about our company and what we have to offer, I urge you to “Get In, Get Listed” and become a part of this new Directory Services innovation. BM