Jamaica’s Delta Capital Partners enters Barbados market | Loop Cayman Islands

The content originally appeared on: Cayman Compass

Delta Capital Partners has announced that it is entering the Barbados market with a suite of high-impact products and services geared toward disrupting digital commerce and health services. The Jamaica-based private equity group is finalizing several transactions to launch a payments platform and a technology enabled medical service in Barbados in the coming weeks.

Group CEO, Ivan Carter, who is a Barbadian, has indicated that from Delta’s perspective, Barbados provides a very welcoming environment for foreign investment and to do business. According to Carter, as an investment PE Group, Delta enters relationships with companies and entities from around the globe that offer high-impact solutions to challenges facing the Caribbean region and work with these organizations to set-up local operations through various structures. These solutions must be innovative and aligned with Delta’s purpose of raising the lives and livelihood of Caribbean people. While the Delta Group operates across various lines of business, its primary focus is in the fintech payments and digital health and wellness spaces.

Within the Barbados market, Delta will be launching a fintech payments platform, initially with credit cards, debit cards, and a digital wallet. Delta says that the platform will be quickly built-out to include products such as digital gift cards; digital point-of-sale (POS) using smartphones; a crypto and digital currencies exchange; online lending facilitation; and other e-commerce related tools. The Payments products were developed in Jamaica, the USA, Canada, and Spain, in many cases by entrepreneurs with Caribbean heritage. They are backed by MasterCard and will be accepted locally and internationally.

The pandemic accelerated the widespread acceptance of digital payments from a status of mere convenience to that of necessity and created a market for the delivery of even more innovative, cost-effective, easy, and secure payment solutions.

Carter was passionate in outlining the potential of the health and wellness solution that Delta will introduce to the Barbados market.

“Limited access to secure, innovative, cost-effective, and convenient payments products along with a high incidence of non-communicable diseases (NCDs), are among the most critical challenges currently affecting Caribbean peoples,” he explained. “We aim to democratize financial services by increasing access and creating more opportunities for everyone, using cutting-edge technologies. Our products and services are cashless and paperless.”

Carter explained that Delta intends to raise the quality of public health byproviding solutions that can help to dramatically reduce the incidence of chronic NCDs across the region, which he hopes will “directly increase the life expectancy of Caribbean peoples and reduce the enormous costs to regional governments in managing these diseases.”

The new telehealth platform was developed in the UK by leading medical practitioners.

According to Carter, it provides online-first support, focusing on reversing Type 2 Diabetes and Obesity without the use of medication. Typical treatment for Type 2 Diabetes is via multiple medications including insulin.

“Our platform changes that approach to treating diabetes and obesity by bringing together medical experts and researchers, with specialist doctors, nurses, dieticians, and psychologists into a protocol to reverse Type 2 Diabetes and Obesity. Utilizing nutrition & lifestyle changes, technology, and virtual interactions, the team guides individuals to take control of their health without medication and with a healthy mindset. This solution is already operational in the UK, Brazil, Malaysia and will be rolled out in Barbados and Thailand in 2022,” he said, indicating that other health conditions, including mental health, respiratory, and heart diseases, will be added to the slate soon.

Delta’s horizon is the entire Caribbean and selected Latin American countries, and while some products will hit the Barbados market in the short term, others will be first launched in Jamaica. Delta already has a number of portfolio investments in extra-regional geographies.

To date, the Delta Group has amassed an extensive portfolio of companies and says that it is relentlessly pursuing growth with impact. Earlier this year, Delta Capital Partners was awarded the Next 100 Global Award 2021- Private Equity Deal House by the UK based Global Banking and Finance Review Journal.

Ivan Carter, who is currently a resident of Jamaica, spent over 35 years as a senior Executive with the Sagicor Group in Barbados and Jamaica as Group Chief Financial Officer as well as Group Chief Information Officer. He has led successful transformational initiatives and many M&A projects and teamed with Executive Chairman, Zachary Harding, and Chief Investments Officer, Anthony Dunn, to found Delta Capital Partners Group in 2020, with what he describes as a deep passion to uplift the Caribbean region.

Zachary Harding, a renowned strategic and award-winning Marketer has led several top brands in Jamaica and has been Special Advisor to both Jamaica’s Prime Minister and Minister of Tourism. Anthony Dunn is the former Treasurer of a leading Energy firm and a large Manufacturing & Financial Services conglomerate in Jamaica.

“Look for the Delta Effect – as we say in Jamaica, Good things…. soon come!” Said Carter.