Chinese Firm Takes Over Jamaican Freeport

I was having a good day until I came across more incompetence from Global Black Leadership. The following information comes from The New York Carib News

China Merchants Port Holdings now has full control over Kingston Jamaica’s Freeport Terminal Limited (KFTL). China Merchants managed KFTL under a 30-year concession agreement with the Jamaican government that included a subsidiary company, Terminal Link. This was a joint venture between CMA CMG and the port management firm holding 51% and China Merchants holding 49%. But now that CMA CGM sold their interests, China Merchants now has full ownership.

KFTL was used to operate Kingston Container Terminal to expand and maintain the Port of Kingston. This deal is worth $814.78m, with The Port Authority of Jamaica (PAJ) advising the following:

“The Government of Jamaica was notified by CMA CGM of the intention to transfer KFTL from CMA Terminals to Terminal Link, ahead of the transaction being announced.”

The deal brought with it several successes, including a US $250 million investment in dredging the access channel to the harbor and in upgrading the equipment and facilities.

I believe that Black leaders want African people to be subservient and dependent on others for everything because this is too much of a global issue to blame this solely on bad trade deals. Incompetent sell-outs are the nicest way I can describe them at this point.

To check out the full article, click here. If you have any additional information, feel free to comment below.

Until Next Time…

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