JOA secures $10m investment from Mayberry
Christopher Samuda (left), president of the Jamaica Olympic Association (JOA) and Ryan Foster, Secretary General of the JOA.
The Jamaica Olympic Association (JOA) partnership team has strengthened with the addition of Mayberry Investments, which signed onto a four-year multi-million dollar deal.
“Today I am extremely happy to be welcoming to our family Mayberry Investments, an organisation that was established some 33 years ago by the late Maurice Berry, a former Deputy Governor of the Bank of Jamaica,” said Ryan Foster, Secretary General of the JOA.
“Mayberry is a full service financial advisory firm specialising in asset management products and services for its corporate and individual clients. Today it adds to its portfolio as an official investment partner of the Jamaica Olympic Association,” he added, during a Press Conference last Friday at Olympic Manor, the JOA’s Kingston headquarters.
Mayberry has been contributing to sport development for years and are the actual title sponsors of the long-running National High Schools Swimming Championships. Foster pointed to Mayberry’ association with sport as he announced their contribution.
“This arrangement will run for a four-year period and is valued at $10,000,000 million,” said Foster. “Mayberry has a track record of investing in sports. In a conversation with a parent of a former primary level sporting prodigy, she recounted with great pride how Mayberry would award winners of certain categories 50 stocks from reputable companies in the stock exchange. Her son, who did very well, became the recipient of 150 stocks annually while he participated in those competitions, stocks that today are doing very well and stocks he still has.”
Through its CEO, Gary Peart, Mayberry Investments were also recent contributors to the newly-installed JOA initiative, Sport for Breakfast Forum, which serves to bring to the fore and action key issues affecting sports and its athletes.
This forms part of a radical, business-modelled approach by the Christopher Samuda-led JOA, which has secured long-term deals with a number of key stakeholders to raise much-needed finance to support its near 50-member team of affiliates and drive the cause to have more sports represented at the Olympic Games.
At the press event, Peart said: “We couldn’t be prouder of this partnership we’ve forged with the JOA. We believe that with our own successes and expertise, we have a wealth of value to contribute to the organisation, its members and athletes alike.”
Besides Mayberry Investments and long-time partners Puma, the JOA also secured multi-year deals with Lasco Group, Cartan, Toyota Jamaica, and Starlight Productions.