Here is the address of Christopher Zacca, President and CEO of Sagicor Group Jamaica, after being inducted into the Private Sector Organization of Jamaica (PSOJ) Hall of Fame on Thursday, October 31, 2024, at the Jamaica Pegasus hotel in St Andrew.

Ladies and gentlemen, thank you all for supporting me and PSOJ this evening.

First, let me thank President Metry Seaga, his officers and directors, and indeed the entire PSOJ, for granting me the honor of being the 30th member of the prestigious Hall of Fame. And what an honor that is.

I frequently entered the PSOJ offices, passing through the hall where quotes from the 29 Hall of Famers before me were displayed. I am always in awe of the extraordinary men and women whose contributions have shaped our nation. These are the giants of Jamaica’s private sector and I have had the privilege of knowing many of them personally.

In fact, as PSOJ president, I had the honor of awarding five of these powerful figures. That’s why believe me when I say this award means a lot. With all its ups and downs, it’s one of the highlights of my career, where I’ve enjoyed every step of the way.

Please bear with me as I take a moment to thank those who have helped shape my journey both personally and professionally towards this recognition.

First of all, my family and my foundation. You are my rock and I thank you every day. My immediate family is here tonight, and I want all of us to give special recognition to the leader of our family, my mother, Lady Zacca.

Thank you to the countless professionals I have had the honor of working with over the years. From my days at D&G/Red Stripe to ATL/Sandals, to the Air Jamaica team that flies our flag so high, to public service and of course my current team, my Sagicor family, the best team in the world.

I am joined tonight by my President, Peter Melhado, as well as several other members of the Sagicor Jamaica board of directors, my executive team and other team members. I couldn’t have asked for a better group of people to work with. I want to especially thank you all for your incredible efforts to steer Sagicor through the difficult times of COVID-19 and beyond. Let’s show the world who we are; stand up, make some Sagicor noises and, in the words of our national icon Miss Lou, applaud yourselves!

My friends, I have had the privilege of sitting at the feet of many great leaders throughout my life. I would like to know them in chronological order:

My late father, the Right Honorable Sir Edward Zacca, KCMG, OJ, PC, former chief justice of Jamaica, former lieutenant governor general of Jamaica and former member of the Judicial Committee of the Privy Council of the United Kingdom. My father instilled in me honesty, a sense of family, and a deep commitment to public service.

In my opinion, Paul Stockhausen is Jamaica’s best all-round engineer, the one who mentored me from my early days as a fresh graduate at Red Stripe and later helped me join the ATL Group. Stocky, thank you for turning me into a half-decent engineer.

The late Reverend Gordon “Butch” Stewart, O.J. Butch, as you all know, was not only one of the Caribbean’s greatest businessmen, but also PSOJ president and a PSOJ Hall of Famer. He gave a chance to a young engineer. He was my president and mentor for 18 years. Butch’s influence shaped my business acumen and leadership style and shaped my national profile.

The Honorable Orette Bruce Golding, former Prime Minister of Jamaica, allowed me to serve as her special advisor. Those years gave me an invaluable understanding of the inner workings of Government, helped me understand the perspective of politicians and public servants, and was an incredible learning experience that helped shape me into the leader I am today.

And, of course, the late R. Danny Williams, OJ, founder of Life of Jamaica and former Government minister. He was also the chairman of Sagicor and Sagicor Foundation. Danny guided me like a father from my first day at Sagicor until his passing last year. He taught me the value of positive thinking, the importance of relationships at all levels, and giving back to Jamaica. He is also a PSOJ Hall of Famer and one of the greatest businessmen in our history.

There are so many names I could name, but I want to thank a few of my close friends and confidants: Gassan Azan, Howard Mitchell, Butch Hendrickson, and Glen Christian. You all keep me going — sometimes brutally — and I value your friendship and advice even when I don’t want it.

I had the unique opportunity to serve as PSOJ president for five years and during that time I witnessed significant progress in many areas, especially when the public and private sectors work together.

Nowhere is this more evident than in the transformation of Jamaica’s financial economy over the last 11 years. We have seen the debt/GDP ratio fall to manageable levels, foreign exchange reserves reach record levels, and an independent central bank manages inflation. This was something that would have been unimaginable just 15 years ago. The success of this transformation belongs to the entire society coming together to make the difficult decisions necessary. This is a testament to what can be achieved through public-private partnerships.

We need to acknowledge the contributions of both political administrations for this transformation. PNP Government from 2012 to 2016 led by Prime Minister Portia Simpson Miller, Finance Minister Peter Phillips, and then Justice Minister Mark Golding and other members of the cabinet.

The work continues in earnest today with the current JLP Administration led by Prime Minister Andrew Holness and former Chancellor of the Exchequer Nigel Clarke, also supported by many Cabinet ministers. We must also recognize the invaluable work of the public/private Economic Program Oversight Committee (EPOC), co-chaired by my former Sagicor chairman and current Bank of Jamaica Governor Richard Byles.

Yes folks, pinch yourself, you’re not dreaming. This transformation took place smoothly under two successive political administrations.

However, economic growth remains weak. At the same time, we navigate a world in turmoil and full of uncertainty, whether environmental, political or ideological. Jamaica is not immune and having experienced the pain of Covid-19 and high global inflation, it is evident that as society copes with these stresses, divisions in our society are widening and political discourse is becoming increasingly worrying.

Butch Stewart used to say to me, “Chrissy boy, when people are in trouble you all go back to back and fight your enemies.” Now, more than ever, we need this kind of unity, a whole-of-society partnership to tackle our common challenges.

It is time to return to a deliberate, two-pronged national strategy focused on preserving fiscal discipline and the critical institutions that support it, such as an independent central bank, while promoting strong and sustainable economic growth. We have come too far to throw away our gains; This would be an economic disaster. However, financial discipline alone is not enough.

I’m not going to pontificate here tonight about the many possible prongs of such a strategy; There are many good plans sitting on the shelves. So how about finally eliminating unnecessary and outdated regulations that hinder business and encourage corruption? How about giving agriculture a high priority? Let’s also engage in difficult discussions about how to address the skilled labor shortage that hinders growth.

I can go on.

These ideas are some of the many that have been discussed over the years but have not been implemented. From where? Because real transformation requires difficult decisions that will not please everyone. Therefore, political will and social partnerships are critical. I would like to remind you that a necessary condition for the success of fiscal transformation between successive Administrations is social partnership united around the urgent need.

I therefore conclude by calling on the PSOJ to lead the task of creating a civil society coalition that will work with both the Government and the Opposition in the development and, most importantly, implementation of a new national growth strategy. This coalition must have a respected and influential voice at the decision-making table and ensure that the difficult choices we need to make are implemented for the benefit of all Jamaicans.

I have devoted most of my life to contributing to my country. I have an unwavering belief in Jamaica and Jamaicans. I truly believe that we can and will achieve our goals.

This night means the world to me.

Thank you for this honour.