VM Group Highlights Investment Opportunities in Jamaica
Originally published by South Florida Caribbean News Read the original
WASHINGTON DC — VM Group is urging Jamaicans living overseas to expand their investments in Jamaica beyond savings. They are pointing to opportunities in real estate, stocks, bonds and business development.
Courtney Campbell, VM Group’s president and CEO, made the appeal at a “Yaad & Beyond” reception Oct. 30 at the Jamaican Embassy in Washington DC. His remarks highlighted the diaspora’s role in the institution’s deposits and mortgage lending.
Jamaican diaspora deposits and mortgages
Jamaicans overseas contributed 40 billion Jamaican dollars (J$40 billion) of VM Group’s J$170 billion in total deposits, Campbell said.
Campbell said VM Group has about 500,000 active accounts, including 109,000 held by Jamaicans overseas. About 55% of those overseas accounts are held in the United States, and more than 60% of overseas members have maintained their accounts for more than 20 years.
Overseas Jamaicans account for about 30% of VM Group’s mortgage portfolio, Campbell said, underscoring their continuing interest in buying property in Jamaica.
The reception drew diaspora organizations, community and business leaders, VM Group executives and students from universities in Washington, Maryland and Virginia.
Real estate and investment opportunities in Jamaica
Campbell encouraged diaspora members to explore Jamaican real estate, stocks, bonds, wealth management and business opportunities. He urged them not to limit their financial ties to savings.
He said VM Group could help overseas members navigate those options and seek professional guidance.
“Jamaica is a great place to invest,” Campbell said, citing the country’s financial sector, banking oversight and opportunities in property and business.
Campbell said Jamaican property values had generally shown resilience, although performance varied by location and sector. He also pointed to companies in the Jamaican stock market with growth potential.
Export-oriented businesses offered another opportunity, he said, particularly those serving markets in North America, Europe and the Caribbean.
Success would depend on suitable products, skilled workers and market connections, Campbell said.
Hurricane Melissa recovery and diaspora partnerships
Lishann Salmon, chargé d’affaires at the Jamaican Embassy in Washington, said the gathering offered a chance to strengthen diaspora ties and identify practical ways to support Jamaica’s development.
“We hope today’s interaction will help you identify practical ways to pursue your financial goals by contributing to Jamaica’s growth,” Salmon said.
She linked diaspora engagement to Jamaica’s recovery from Hurricane Melissa, citing families rebuilding homes, businesses restoring operations and communities recovering their livelihoods.
Reconstruction should go beyond replacing what was damaged, Salmon said. She called for safer homes, stronger infrastructure and businesses better prepared for future shocks.
That work would require capital, skills, trust and strong partnerships, she said.
Salmon identified housing, engineering, technology, professional services and small-business financing as areas where opportunities could emerge during Jamaica’s recovery.
She urged partners to keep affected families and communities at the center of rebuilding efforts and turn diaspora goodwill into practical support and long-term investment.
VM Group services for Jamaicans overseas
Campbell said VM’s member-owned mutual structure helped shape its decision to establish overseas offices. These offices would serve Jamaicans who had migrated.
VM Group is seeking stronger engagement with overseas members, including greater use of digital and online banking, he said.
Its services extend beyond banking. Campbell said VM’s property team assists members buying, selling or renting property, while its wealth management operations provide access to investments. Pension and remittance services offer additional options.
The group’s remittance operations include MoneyGram and other international money-transfer channels, helping Jamaicans support relatives across borders.
Campbell urged Jamaicans overseas to seek professional advice before pursuing investments or business ventures in Jamaica.
He said VM Group could assist members seeking to support their families, buy property, establish businesses and participate in Jamaica’s economic development.
The Washington DC reception was part of VM Group’s wider outreach to the Jamaican diaspora.
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