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Brexit, don’t panic, grab the opportunity – top St. Lucian investor

By Boka Group

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Former UK Prime Minister David Cameron & John Kennedy

Former UK Prime Minister David Cameron & John Kennedy

PRESS RELEASE – John Kennedy, CEO and Founder of Boka Group, the owners of the Mahaut Estate and the Belvedere Plantation near Canaries, has expressed full confidence in Saint Lucia’s ability to embrace the changes Brexit will bring and that the Country and Company must now grab the opportunity that comes with it.

Boka Group today issued its investors with their medium to long-term post Brexit risk assessment with the key conclusion that its project remains fully on track with no change to investment levels. The Company has said that it is confident that the local market can adapt and grow as planned and that CIP now offers Saint Lucia its own Plan B and must be the focus of attention.

In their report the Company said that its commitment for the planned investment of US$140m and creation of 865 jobs across the Island, but in Anse Le Rey, Canaries, Belvedere and Bouton specifically is unchanged as a result of the UK referendum result.

The Company said there was no need to adjust its projections, and that it believes that the lead time of up to two years for the UK’s final withdrawal from the EU will see the dust settle and a sensible withdrawal package emerge. A company finance spokesman stated that “the European Union needs the UK export market and the world we live in now is very different to the one we were in during the 2008 Global Financial crisis. Governments and institutions learned their lessons from that and do things differently now”.

John Kennedy said “our message is simple, don’t panic, and be positive in embracing the new opportunities that are already emerging. As a Company we were convinced that the Referendum would produce this Leave EU result, we briefed the political leadership of both parties in Saint Lucia of that view well in advance and already had in place our plan B – it is a powerful plan and it is already active.

“As an approved CIP development the Belvedere Plantation has been sourcing new capital from outside the GB and Euro zone with almost US$19m of new investment already identified and ready to draw from the Middle East, Far-East, Russia and new markets where exchange controls have been lifted.

“Our message is simple, we need to get out to the places where the Saint Lucia flag has not yet been waved, we need to get there first and continue to wave it enthusiastically. We have a CIP product backed by Cabinet which foreign investors are now ready to have confidence in and to take up. We will redouble our efforts in this sector and we will deliver results”.

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13 comments

  1. This guy is on crack and is delusional. The Brexit fiasco is going to really change the flow of investment money. Look at what has happened in just a very short time--the value of the pound has declined, racism is on the rise, the UK economy has taken a big tumble, corporate profits are declining, the economic forecasts are much bleaker, etc. These people are panicking but trying to pretend that everything is great. A significant rescission is coming so don't expect the dollars to flow.

    Projects like this and others such as Freedom Bay didn't start out on a strong financial footing and when the economy starts shaking they will likely fall apart. These guys will than just run for the hills. This is just more wild speculation by con men who come to the island with fancy suits and lots of promises and very thin bank accounts. Don't be fooled.

    (0)(1)
  2. I notice a lot of St.Lucians love foreigners over their own people. St.Lucians are so damn stupid.

    (11)(0)
  3. You will soon become second class in your own country. As far fetch as is might seem, in the long term, it will become reality. The battle of sharks against sardines has just become and the result is you will not have a voice. Time will tell.

    (2)(10)
    • You are already. KDA arranged a VAT where ordinary Saint Lucians pay 15% and the rich investors in the hotel industry pay 8% only. What an OUTRAGE

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  4. Our st lucia is worth more than dollars!!

    (2)(10)
  5. He has a Lucian passport so he has as much voice as all of us or maybe even more. As he will soon own more land in Lucia than all of us born Lucians.

    (4)(11)
  6. Little do we know this guy is a Diplomat and represents our interests abroad.

    (1)(9)
  7. Anonymous. I have read your comments over the months . You need to get a life and travel .get out of your bubble. all countries need investment and investors. name me a country who don't. .

    (5)(2)
  8. I do not trust that Boka Group. I think Rick Wayne should do some digging for us.

    (3)(9)
  9. so what has kennedy got to do with st.lucia 's relationship with britain? we cannot go to their country and behave this way but he talk like he is in charge of what the goverment of our country. you do as i say or else? really, investors are given too much leeway and fredom. come on prime minster show they what our country and people are all about. lay down some laws please. give them bountries

    (3)(15)
  10. Some people just don't know their place as an investor.

    (4)(16)
  11. He is trying to own St Lucia now. Foreigners.

    (8)(17)

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