Proven Group Ltd., a Jamaican group with over $1 billion in total assets, has disclosed plans to establish a physical presence in the Bahamas and is providing $20 million in financing for the 365 government lot Renaissance of the Bahamas at Carmichael Housing Subdivision, The Tribune, a major Bahamian newspaper, reported on Friday.

Christopher Williams, president and CEO of Proven Management, the entity that runs Proven Group, was quoted by Jamaican media as saying the company already has “a great relationship” with Bahamian Prime Minister Philip E. Davis. and his ministers.

“Across all three platforms, Proven Wealth Jamaica is well-known, well-established and has infiltrated the Bahamas,” Williams said. “So we flew, built relationships, and now we’re looking to lay bricks and mortar on the ground in the Bahamas.”

Asked about the state of the Bahamian economy, Williams replied, “It’s bouncing back very well. The international banking space in the Bahamas is very strong, the real estate space is strong, and of course the tourism space is strong. We like the economy, and that is why the Prime Minister and his ministers gave us a very warm welcome. We have an excellent relationship with them.

Proven Group has strong political connections in Jamaica. One of Proven Management’s co-founders and current director, Mark Golding, is the leader of Jamaica’s main opposition party, the People’s National Party (PNP), while another co-founder and fellow director, Peter Bunting , served alongside her in the last of The Wardrobes of Portia Simpson-Miller.

Another co-founder and director of Proven Group and Proven Management, Garfield ‘Garry’ Sinclair, is the former CEO of the Bahamas Telecommunications Company (BTC).