JMMB Bank Champions Economic Resilience with Tropical Sugar Partnership

JMMB Bank has reaffirmed its commitment to driving economic resilience and growth through its role as sole financier of Tropical Sugar Company Limited’s modern sugar factory—a project designed to transform the sugar industry and empower communities. The groundbreaking ceremony, held yesterday at Chesterfield Estate, signaled a bold move towards renewed confidence in Jamaica’s agricultural sector and positions the Caribbean for global competitiveness.

Christina Walters, Senior Manager, Corporate Client Partnership, and Jerome Smalling (right), CEO, JMMB Bank, in discussion with Noel McLean, Director, Tropical Sugar Company Limited, at the groundbreaking ceremony at Chesterfield Estate, Clarendon.
 

The event drew high-level support, including Dr. The Most Honourable Andrew Holness, Prime Minister of Jamaica, government ministers, and international partners from Trinidad & Tobago, India, and Guyana, underscoring Jamaica’s growing appeal as a hub for sustainable investment in the region. The Prime Minister, in his keynote address, emphasized the importance of private sector investment in national recovery efforts following Hurricane Melissa, stating, “Our efforts truly must be on the recovery of the economy. Investments like this show that Jamaican business is strong and ready to grow. It is in your growth that we will be able to recover the other half of Jamaica.”

As sole financier, JMMB Bank’s partnership with Tropical Sugar Company represents a bold step toward revitalizing Clarendon’s economy and positioning Jamaica as a competitive force in global markets. The project will introduce advanced agronomic practices, leverage renewable energy, and create hundreds of direct and indirect jobs, stimulate small business growth, and reduce Jamaica’s reliance on imported sugar products—while opening new export markets across the Caribbean and beyond.

Speaking at the ceremony, Jerome Smalling, CEO of JMMB Bank, emphasized the transformative impact of the initiative, “For us, this project represents more than bricks and mortar—it’s about building sustainable value and empowering communities. We see this as the start of a new chapter for Jamaica’s agro-industry, one that blends innovation with resilience.” Smalling added that JMMB views financial partnership as more than numbers, but as enabling possibilities and helping businesses achieve their vision.

The new factory is expected to generate significant economic activity across Clarendon and beyond, benefiting farmers, contractors, and small businesses, while creating ripple effects throughout the Caribbean. As construction begins, JMMB Bank remains committed to partnering with these businesses that drive innovation and resilience—laying the foundation for Jamaica’s long-term economic growth.