Anchor-Finance Group Opens Office in Kingston

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Anchor Finance Group says it has opened an office in Kingston.

This, as the country awaits word on whether a proposed USD$5-billion investment by Anchor and their partner, Krauck Systems, will get the go-ahead.

Last week, the National Logistics Initiative Council, N-LIC, announced that they had “significant concerns” about the proposal.

Representatives from Krauck and Anchor visited Jamaica last week to clarify some of the issues raised by the N-LIC report.

But it appears Anchor Finance is pushing ahead, in hopes of government approval.

Anchor Finance Group recently revamped its website.

There’s now slightly more information about the company, which claims to have offices in New York, Dubai, Jamaica and Panama.

The contact number listed is a direct line to the CEO, Nassim Siddiqi.

We spoke with Mr. Siddiqi today, who confirmed that he was in Jamaica last week for talks with the government.

He also said he used the opportunity to set up an office here.

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Mr. Siddiqi would not provide us with the contact information of his Jamaican representatives.

He says he prefers to have us speak with his attorneys.

He also would not give us much information about his company’s background.

The new website says the company is “uniquely positioned to advise small to mid-cap corporations”.

However it does not list any of the company’s directors, or any major clients.

Mr. Siddiqi says this is not unusual.

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But what about that now-infamous report from the reputed Dunn-and-Bradstreet?

That report gave a damning assessment of Anchor Finance’s ability to deliver on the proposed 5-billion dollar investment.

Mr. Siddiqi sounded a lot like Investment Minister Anthony Hylton, when we asked him about it today.

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Despite the questions still surrounding the proposed investment, Mr. Siddiqi, like his partners at Krauck Systems, remains confident.

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