In the aftermath of Sagicor Group Jamaica’s announcement of a US$100-million acquisition of a major stake in the LNG power plant that fuels the Jamalco alumina refinery, one of its analysts is recommending renewable energy and infrastructure assets as the new go-to sectors for investment in the Caribbean and Latin America.
The suggestion comes within the context of discussions around what the region can look to exploit for economic gain as it seeks to recover from the pandemic.
“The private market is where we see some opportunities exploding, primarily in the infrastructure and logistics sectors. The region, like the rest of the world, is looking at opportunities in the energy space, especially renewable energy,” said Sean Newman, executive vice-president and chief investment officer for Sagicor Group Jamaica, at a Bloomberg virtual discussion on the path to recovery for the Caribbean and Latin America.
Newman sought to distinguish between the private investment space and local equities, which, he said, have the potential for a late rally, despite trailing international stock markets so far this year, and is not proving to be among the biggest creators of wealth in the midst of the ensuing COVID-19 pandemic.
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