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Businessuite Top Caribbean Entrepreneurial Success Stories

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The Caribbean, known for its idyllic beaches and vibrant cultures, is also a breeding ground for some of the world’s most innovative entrepreneurs. From fintech visionaries to ecommerce pioneers, these individuals have taken their diverse backgrounds and turned them into global success stories.

Let’s dive into the tales of ambition, resilience, and success that characterize the entrepreneurial spirit of the Caribbean.

Martin Hanna – Penny Pinch Inc.
Martin Hanna is a testament to the fintech revolution brewing in the Caribbean. As the CEO and Founder of Penny Pinch Inc., Hanna has redefined what it means to provide value through technology. His company caters to a growing demand for digital financial solutions, demonstrating the vast potential of fintech outside traditional tech hubs. Hanna’s success story is not just about innovation; it’s about understanding and meeting the unique needs of his market.

In a region where access to financial services can be limited, Penny Pinch Inc. stands as a beacon of hope. By focusing on user-friendly products, Hanna has ensured that technology serves as a tool for empowerment. His approach blends local insights with global trends, making Penny Pinch a standout example of how fintech can bridge gaps in the financial landscape.

Hanna’s journey is notable for its focus on sustainable growth and community impact. He believes in leveraging technology to create a more inclusive economy, a vision that has earned him respect and admiration both within and beyond the Caribbean. As Penny Pinch continues to expand, Hanna’s leadership reflects a commitment to innovation that serves all.

 

Nicholas A. Rees – Kanoo Pays
Nicholas A. Rees, a former Olympian turned FinTech visionary, stands at the helm of Kanoo Pays. His remarkable transition from sports to business captures the essence of adaptability and determination. As the Chairman and Co-founder, Rees has steered Kanoo Pays to become a pioneering licensed Payment Institution in the Caribbean.

Under his guidance, Kanoo Pays serves as a platform for financial inclusion, connecting individuals and businesses across the region. Rees’s approach combines a deep understanding of finance with a passion for technology, making banking more accessible and empowering for Caribbean communities.

Rees’s background as a Chartered Certified Accountant, coupled with his MBA from the University of Miami, provides a solid foundation for his entrepreneurial ventures. His vision for Kanoo Pays includes not just financial success but also a significant impact on society, highlighting the role of businesses in driving social change.

His story is a reminder that entrepreneurship can emerge from any backdrop. Rees leverages his diverse experiences to build a company that not only profits but profoundly impacts lives. Kanoo Pays exemplifies how innovative business models can transform the financial landscape in the Caribbean and beyond.

 

Elevating Ecommerce: Kadion Preston and Caribshopper
Kadion Preston, co-founder and CEO of Caribshopper, has carved a niche in the booming ecommerce sector. Through Caribshopper, Preston facilitates global sales for Caribbean merchants, enabling them to reach audiences far beyond their geographical confines. This venture not only showcases the rich diversity of Caribbean products but also boosts local economies by opening new markets.

Preston’s tech background, combined with a keen business acumen, has allowed him to navigate the complex challenges of ecommerce. His platform stands as a testament to the power of digital transformation to foster economic growth and regional integration.

With Caribshopper, Preston has built a bridge connecting Caribbean creativity and craftsmanship with the world. His work has not only elevated the profiles of local artisans and businesses but also inspired a new generation of entrepreneurs in the region to look beyond traditional markets.

Preston’s entrepreneurial journey is a masterclass in harnessing technology for social and economic development. By leveraging ecommerce, he has created opportunities for growth and innovation that transcend geographical limitations, making him a pivotal figure in the Caribbean’s entrepreneurial landscape.

Conclusion
The stories of Martin Hanna, Nicholas A. Rees, and Kadion Preston highlight just a sliver of the entrepreneurial talent flourishing in the Caribbean. These individuals exemplify the region’s capacity for innovation, resilience, and global impact. Their ventures have not only transformed their respective industries but also offered valuable lessons:

Adaptability and resilience are key to overcoming challenges. Innovation should be driven by a desire to meet the specific needs of one’s community. Entrepreneurship can be a powerful tool for economic and social empowerment. Global success is achievable, regardless of one’s geographical starting point. As the Caribbean continues to make its mark on the global stage, these entrepreneurs serve as beacons of hope and inspiration, showing that with vision, hard work, and a commitment to impact, anything is possible.

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Businessuite News24

Experience Premium Travel with JUTA Express Powered by InterMetroOne – Corporate Feature

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Traveling across Jamaica has just been elevated to a new level of comfort, convenience, and safety with the introduction of JUTA Express powered by InterMetroOne. This premium bus and coach service, available through the InterMetroOne app, is set to revolutionize travel for both visitors to the island and locals alike, offering a seamless and luxurious way to navigate Jamaica’s main towns.

A Legacy of Excellence

The Jamaica Union of Travellers Association (J.U.T.A.) has been a cornerstone of Jamaican transportation since its inception in 1974. With chapters in major locations such as Mandeville, Portland, Montego Bay, Ocho Rios, Falmouth, Negril, and Lucea, J.U.T.A. boasts a fleet of over 6,500 vehicles, making it the largest transportation company in the Caribbean. Known for its superior customer service, safe and courteous operators, and exceptional staff, J.U.T.A. has set the standard in public transportation. Their commitment to excellence has earned them numerous awards and a sterling reputation among tourists, locals, and corporate clients alike.

Unmatched Comfort and Safety

At JUTA Express, powered by InterMetroOne, your safety and satisfaction are our top priorities. By partnering with J.U.T.A. we ensure that every journey is handled by professional and dedicated operators who are committed to your well-being. From the moment you board until you reach your destination, you can rest assured that we have your comfort and security covered.

Comprehensive Services

JUTA Express offers a broad range of services designed to meet the diverse needs of travelers. Whether you are commuting for work, heading to school, or embarking on a group tour, we have the perfect transportation solution for you. Our services include:

  • Ground Transportation: Reliable and efficient travel across Jamaica’s main towns.
  • Tourism Transportation: Seamless connections to and from major tourist destinations.
  • Staff and Student Contracts: Dependable transport solutions for educational institutions and businesses.
  • Group Tours and Fun Days: Enjoy organized and hassle-free excursions.
  • Airport Transfers: Stress-free transport to and from Jamaica’s national airports.
  • Conventions and Meetings: Coordinated travel for corporate events and large gatherings.
  • Luxury Coach Buses: Accommodations for delayed flights and special occasions.

Book with Ease Using InterMetroOne

The InterMetroOne app makes booking your travel with JUTA Express simple and convenient. Available on both Google Play and the App Store, the app provides a user-friendly interface where you can plan and manage your trips with ease. With just a few taps, you can schedule rides, track your journey in real-time, and enjoy exclusive perks and rewards.

Why Choose JUTA Express Powered by InterMetroOne?

  1. Professional Service: Experience the best in Jamaican transportation with J.U.T.A.’s highly trained and courteous operators.
  2. Safety and Security: Travel with peace of mind, knowing that your well-being is our top priority.
  3. Comfort and Convenience: Enjoy spacious, air-conditioned buses with complimentary snacks and drinks.
  4. Seamless Integration: Book, track, and manage your trips effortlessly with the InterMetroOne app.
  5. Trusted Legacy: Benefit from J.U.T.A.’s decades of experience and award-winning service.

Join Us on a Journey of Excellence

Whether you are a visitor exploring the vibrant culture of Jamaica or a local navigating your daily commute, JUTA Express powered by InterMetroOne is your ideal travel companion. Download the InterMetroOne app today and discover a new standard of transportation that combines the reliability of J.U.T.A. with the innovative technology of InterMetroOne.

Experience the Difference. Travel with JUTA Express Powered by InterMetroOne.   

 

JUTA’s transportation solution

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Businessuite News24

Companies Office of Jamaica Expanding Online Service Offerings

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The Companies Office of Jamaica (COJ) says that by the end of the current financial year, its customers will witness an even broader array of online service offerings.

Speaking at a recent Jamaica Information Service (JIS) Think Tank, Manager for Anti-Money Laundering, Inger Hainsley-Bennett, said, “As we move further into the digital age, bringing more services online continues to be our priority.”

Currently, customers can only complete new company and business registrations online; however, by March 2025, they will be able to not only register their new businesses but also renew them online.

“This development means that sole traders and individuals operating small businesses, such as haberdasheries or consultancy services, will no longer need to visit our office for these services,” she said.

For new-company customers, the benefits are even greater, as moving services for incorporation online is designed to simplify the process, allowing customers to file annual returns without ever needing to step into the office.

This initiative will save valuable time and remove the hassle of taking time off from work for administrative tasks.

Mrs. Hainsley-Bennett further noted that the COJ expansion plans will allow for changes to me made for registered office addresses and even the allotment of new shares.

Coupled with its online service expansion, the company has also taken steps to enhance its customer contact centres, making continuous improvements as the year progresses.

“We have also strengthened our human resource capabilities in this area, so what you will see over time, is an improvement in how we answer the phones and this is not just simply throwing persons at the problem but we have evolved to understand the needs of our customers. To assist with this, we have introduced artificial intelligence in the form of a Live Chat feature to help answer basic questions on our website,” the Manager told JIS News.

These improvements, she said, are already showing results, with a noticeable decrease in wait times.

For more information about the new online services and upcoming improvements, persons can visit the COJ website at https://www.orcjamaica.com/ or call (876) 908-4419-26.

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Businessuite News24

Who Is Christopher Williams, CEO of Proven Management Limited?

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Leadership and Vision

Christopher Williams is the co-founder and Chief Executive Officer (CEO) of Proven Management Limited, the investment management company behind Proven Investments Limited (PIL). With over 20 years of experience in merchant and investment banking, asset management, and stock brokerage in the Jamaican and Cayman Islands capital markets, Williams has established himself as a pivotal figure in the Caribbean financial landscape. His leadership style is characterized by strategic foresight, resilience in the face of challenges, and a knack for identifying lucrative opportunities in turbulent times.

Career Path and Milestones

Williams’ career is marked by significant milestones and strategic acquisitions. Under his leadership, Proven executed its first major acquisition in 2010 during the Government of Jamaica’s debt exchange, acquiring Guardian Asset Management. This acquisition was notable for its timing amidst widespread market panic, showcasing Williams’ ability to see opportunity in crisis​.

One of the most high-profile deals orchestrated by Williams was the acquisition of a 49.27% stake in Access Financial Services from Mayberry Investments in 2014. This move not only resolved a public dispute among Access’s major shareholders but also fortified Proven’s position in the micro-lending sector​​. Other significant acquisitions include the purchase of First Global Financial Services, which expanded Proven’s wealth management capabilities, and the acquisition of an 83% stake in the Bank of St. Lucia International, marking Proven’s first venture into the banking sector outside Jamaica​.

Management Style and Philosophy

Williams’ management style is deeply rooted in the belief that crises present unique opportunities. He advocates for maintaining calm and nimbleness during market upheavals, a philosophy that has guided Proven through various acquisitions and expansions. His strategic approach involves meticulous market analysis and a keen eye for undervalued assets that can be transformed into profitable ventures​​.

Williams also emphasizes the importance of a strong, cohesive team. He describes Proven as the Caribbean’s version of an NBA super team, highlighting the collective expertise and experience of his executive team and board members. This collaborative and high-performance culture is a cornerstone of Proven’s operational strategy and success​.

Future Outlook and Retirement Plans

Looking ahead, Williams continues to steer Proven towards new horizons. The company’s foray into real estate through its subsidiary, Real Properties Limited, exemplifies its strategy of diversification and growth. While specific details about his retirement plans remain undisclosed, Williams’ legacy at Proven is expected to endure, built on a foundation of strategic innovation and robust leadership​.

As Williams prepares for the future, his contributions to the financial sector and his role in shaping Proven into a regional powerhouse remain a testament to his visionary leadership and unwavering commitment to excellence.

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Businessuite Markets

Kevin Gordon Led Simply Secure Limited Acquires 49.1% Stake in tTech Limited

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Edward “Teddy” Alexander

The Directors of tTech Limited announced that two (2) major shareholders, Edward “Teddy” Alexander and G. Christopher Reckord, have sold 52,012,834 tTech shares, representing 49.1% of tTech Limited’s issued shares. The acquiring entity, Simply Secure Limited, is owned by Kevin Gordon and Rob Mayo-Smith. Messrs. Gordon and Mayo-Smith are also the owners of Simply Secure LLC, a Managed Security Services Provider based in Ft. Lauderdale, Florida.

tTech Limited is a leading IT services provider offering a wide range of services to help businesses manage their IT infrastructure efficiently and securely. Our mission is to deliver exceptional IT services and solutions that empower businesses to thrive in an ever-evolving digital landscape.

Simply Secure LLC is a Managed Security Services Provider based in Ft. Lauderdale, Florida. The company specializes in providing comprehensive security solutions to protect businesses from cyber threats and ensure the safety and integrity of their IT environments.

In light of the fact that the acquisition is beyond the 20% threshold of the issued and outstanding ordinary shares of the company, tTech has duly notified the Jamaica Stock Exchange and the Financial Services Commission pursuant to the applicable JSE Junior Market Rules (Appendix 2) and the applicable Regulations promulgated under the Securities Act that relate to Takeovers and Mergers.

Simply Secure has indicated that upon the acquisition of 50% or more of tTech’s shares, it will extend an offer to all remaining tTech shareholders to purchase their shares. This intended offer to the remaining shareholders will be contingent on the completion of additional due diligence, finalization of the terms of the offer, review by the tTech board and approval by the regulators. Simply Secure and tTech have committed to adhering to the Securities TOM Regulations and the JSE Rules.

The Directors of tTech anticipate that the synergies between tTech and Simply Secure will enhance the services provided by tTech, particularly in the area of Cybersecurity.

There will be some changes at the director and management levels. However, Edward Alexander, who continues as the Board Chair, stated, “I am confident that Simply Secure’s involvement will bring new resources and expertise to tTech Limited. Their focus on Managed Security Services aligns perfectly with our strategic goals.”

 “Under this new arrangement, Simply Secure and tTech are committed to leveraging greater resources to meet the growing demand for Managed Security Services. The primary focus will remain the delivery of exceptional value to our customers and optimal growth opportunities for our employees.” Kevin Gordon, CEO of Simply Secure LLC

 

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Business Insights

Broadcast Radio Is Not Dead For Jamaican And Caribbean Radio Stations If……

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The headline in last weeks business gleaner read “The Bridge Radio Station Up For Sale”.

The opening paragraph of the article told the story, “After débuting on air with much fanfare nearly three years ago, radio station The Bridge 99 FM is facing an uncertain future and is now up for sale. Two investors in The Bridge, one of the newest FM radio stations in a crowded and dwindling market, have confirmed that they are seeking buyers for the station.”

Target Market

The Bridge, the brainchild of New York-based Jamaican Robert ‘Bobby’ Clarke who heads the Irie Jam Media Group, which operated Irie Jam Radio in the Tri-State area for more than two decades, came on air in August 2021 aiming, as its name suggested, to connect Jamaicans abroad, mainly in the United States, and those at home, through a unified platform.

On-air Talent

The upstart station was able to attract a slate of well-known names to its airwaves, including disk jocks Richard ‘Ritchie B’ Burgess, Kurt Riley and Nikki Z, veteran recording artiste Tony Rebel, retired politicians Ronald Thwaites and Pearnel Charles Sr, and controversial talk show host Dr Kingsley ‘Ragashanti’ Stewart.

But The Bridge failed to attract a significant audience, with more persons turning away from traditional media sources like radio to social media for information and entertainment.

The Question that we have to ask is very clear. Is Broadcast Radio Dead!

In the article Zachary Harding, founding partner of Delta Capital Partners Jamaica, and an investor in The Bridge was asked about the future of FM radio: “There can be money in FM radio, as it is still a popular means of entertainment and getting information. Radio is not dead. However, advertisers now have more options in terms of marketing spend and there has definitely been a tremendous shift towards social media and away from traditional media. This trend will always impact smaller players in the market negatively. However, with the right strategy, you can integrate social media into your strategy to command more loyal listener base and differentiate the station, while providing greater points of distribution. This is exactly what we are doing at CaribStar Media”.

Broadcast radio is not dead, but it does face significant challenges in the current media landscape.

Here’s a comprehensive look at trends and potential directions for making broadcast radio viable in Jamaica and the Caribbean:

Convergence with Digital Platforms: One major trend is the integration of broadcasting with digital and social media platforms. Radio stations are increasingly using live streaming services like YouTube, Facebook Live, and Twitch to reach audiences seeking real-time and interactive content​​.

Local Focus and Community Engagement: Despite the shift towards digital, local advertising remains a strong point for radio. Industries such as retail, real estate, automotive, financial services, and healthcare continue to invest in local radio ads due to its strong community presence and trust factor​. Radio can leverage this by focusing on hyper-local content and community engagement, which digital platforms may not provide as effectively.

Political Advertising: Political campaigns are a significant revenue source, especially in local markets. With political spending on the rise, particularly in swing states, radio stations can capitalize on this by offering targeted advertising solutions​.

Shorter, More Engaging Ads: Long ad breaks can drive listeners away, especially when compared to the ad-skipping options available on streaming services. To combat this, radio can focus on shorter, more engaging ads, including authentic endorsements from popular hosts, which tend to resonate more with listeners​​.

Technological Advancements: The deployment of 5G networks will revolutionize content delivery, allowing for seamless streaming and improved connectivity. This can enable more interactive and immersive experiences for radio listeners, potentially attracting a larger audience​.

Diverse Revenue Streams: Beyond traditional ads, radio stations can explore additional revenue streams such as sponsored content, events, and partnerships with local businesses. This diversification can help mitigate the risks associated with declining ad revenues​.

Content Personalization and On-Demand Options: Emulating successful aspects of streaming services, radio stations can offer personalized content and on-demand listening options through podcasts and digital archives. This approach caters to the growing demand for content that fits individual schedules and preferences​​.

For Jamaican and Caribbean radio stations, adopting these strategies could help create a more sustainable business model in a rapidly evolving media environment. Emphasizing local content, leveraging digital convergence, and exploring new revenue streams are key steps towards maintaining relevance and profitability.

Source: https://jamaica-gleaner.com/article/business/20240710/bridge-radio-station-sale

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