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Business Ventures

Current ventures

Mr Prest’s latest ventures are Bank of Nevis International Limited (BONI) and Bank of Nevis International Trust Services Incorporated (BONITS). There, he is currently focused on growing the Bank’s global footprint and diversifying its wealth management offerings and migration investment services by extending its current inclusive outreach mandate into fast-growing economies across Africa, the Middle East and South East Asia. Mr Prest is also exploring how the Bank adopts ESG awareness to develop new investment products that will deliver both a lasting social and economic development impact for small island states, including St. Kitts & Nevis and St. Lucia, and deliver a sustainable high yield return for its wealth management clients. Mr Prest sees aligning investing outcomes with ESG fundamentals as being a cornerstone of the New Normal in the post-pandemic vaccinated world.

Previous ventures and activities

In the past, his business activities have been pioneering, disrupting established networks in several markets. In Turkey, Bulgaria, Romania, Cameroon and Nigeria, his initiatives broke the established import and export chains in soft commodities. He also disrupted the monopolistic supply chains in the downstream oil sector in numerous countries across the African continent, such as Nigeria, Ghana, the Democratic Republic of the Congo (DRC), Tanzania, Zambia, South Africa, Mauritania and Sudan.

Mr Prest’s long track record in business has prioritised ventures that have generated an economic and social dividend in the countries he has worked.

  • In 1989, he arranged one of the first pre-finance facilities in cocoa for the ‘Office National de Commercialisation des Produits de Base’ (ONCPB) in Cameroon.
  • Soon after that, in 1992, he broke the back of an existing arrangement and re-pointed the Crude Oil & Coffee export barter deal for Tanzania, saving the country tens of millions of dollars.
  • In 1997, Mr Prest arranged the first Time Swap, worth US$180 million, for Ghana’s National Petroleum Corporation (GNPC), enabling Ghanaian refineries to operate and thus averting petrol shortages and allowing the country to maintain critical gasoline supplies for the general public.
  • In 1999, he established the template for oil product imports to Nigeria – notably, a template that is still used today – thus revolutionising the oil trade sector.
  • In 2000, Mr Prest arranged an oil product import facility for the then new Government of Laurent-Désiré Kabila, allowing the DRC to provide gasoline to its newly liberated people.
  • In 2006, Mr Prest was a first mover independent in oil exploration in Tanzania and Zambia, snapping up by way of competitive tender the Tanga, Latham and Kimbji in Tanzania and Block 7 exploration asset in Zambia.
  • 2010 created a GBP 17 million UK property portfolio.