Sagicor Group Jamaica has revised its investment strategy for this year owing to the COVID-19 pandemic, which has seen the conglomerate becoming more conservative in its investment plans for 2020.
Sagicor President and CEO Chris Zacca, who made the disclosure in response to questions from the Jamaica Observer last week, announced that investment in infrastructure is no longer the primary investment focus for 2020, as detailed in its just-released 2019 annual report. In its 2020 outlook contained in its 2019 annual report, Sagicor reported, “the improvement in the Government of Jamaica’s fiscal position has created space for higher levels of capital expenditure, mostly geared towards infrastructure”.
However, Zacca declared the 2020 outlook is “under review and evaluation. While we did say that the focus this year would be on infrastructure, ie real estate and hard assets to try to diversify our portfolio, but frankly at this time we would have to be circumspect” .
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