Prime Minister Holness’ net worth grew by $51.5m over five years, Integrity Commission reports

Jamaica’s Integrity Commission has revealed that Prime Minister Andrew Holness’ net worth increased by $51.5 million between 2017 and 2021.

The findings were part of an investigation into Holness’ 2021 statutory declarations, which remain uncertified. The commission explained that its calculation of Holness’ net worth included the conversion of income and assets from US dollars to Jamaican dollars. It also identified $4.49 million in unexplained net worth changes for the year ending December 31, 2021.

“Although the declarant’s net worth appeared to align with income for some years, the growth of the net assets of companies for which the declarants and close family members are majority shareholders and the actual contributions of the minority shareholders need to be further examined,” the commission noted in its report.

The investigation, based on a referral related to Holness’ 2021 declaration, was expanded to cover the years 2018 through 2023 to provide a more thorough examination of the issues. Despite the commission’s findings, Kevon Stephenson, the director of investigation (DI), noted that he was unable to conclude whether there was illicit enrichment due to a lack of access to Holness’ personal expenses over the relevant period and unresolved questions about companies connected to the prime minister.