The Barita Group has reportedly gotten a high rating from Jamaica Stock Exchange (JSE) in their most recent assessment of the corporate governance structures across all listed entities. Barita’s major move from CC to A within a three year span is considered in some financial circles as an unprecedented development.

A comparison of Barita’s Corporate Governance Index (CGI) score for the 2020/2021 financial year versus the 2019/2020 year shows a marginal increase which has resulted in the entity now being given an “A” rating. This compared to the rating of “BB” received for the prior year.

Previously, Barita had a “CC” rating. The JSE assessment shows that Barita moved from a rating score of 59.40 in 2018/2019 to 78.63 in 2019/2020. The stock brokage and investment firm was assessed at 80.42 for the 2020/2021 financial year.

CGI is a way to assess companies in terms of their compliance to the related governance rules in the country and best governance practice around the world.

In Jamaica, companies are scored against six main benchmarks and a JSE score assigned for each area. The minimum JSE Score is 100 while the maximum is 276.

For 2018/2019, Barita’s JSE score was 206 while for 2019/2020 it moved to 238 and for 2020/2021 the score has moved to 242. The average rating for the majority of companies assessed on the index is CC.

Founded in 1977 by Rita Humphries-Lewin, Barita Investments Limited has the distinction of being the oldest stock broking company in Jamaica.

The entity’s Chairman is Mark Myer and its Deputy Chairman, Paul Simpson. In 2018, Simpson’s Cornerstone Group acquired majority shares in Barita.