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Corporate Movements – July 2019



Fosrich Company Limited (FOSRICH) has advised of the following changes in management:
Mr. Warren Riley ceased to be the Commercial & Operations Manager on November 12, 2018 and as that date, reverted to the office of Senior Accountant
Mr. Richard Trusty, who was appointed Commercial & Operations Manager effective November 12, 2018, resigned effective March 14, 2019
Miss Michelle Thame was appointed Operations & Human Resource Manager effective July 1, 2019
Mr. David Ffrench was appointed Business & Relationship Manager effective January 2, 2019

Supreme Ventures Limited (SVL)has advised that Ms. Cheryl Hylton, Chief Information Officer, has resigned effective July 31,2019. In the interim, Senior Vice President for Operations, Nicholas Browne will assume responsibilities for the information technology portfolio.

Gwest Corporation Limited (GWEST) has advised that Ms. Marce HayLes resigned from her position of GWEST’s Chief Executive Officer, effective July 5, 2019. GWEST further advised that Ms. HayLes resignation is in keeping with staff rationalization strategy being undertaken by the Company.

Lasco Financial Services Limited (LASF) has advised that Mr. Kenneth Sylvester was appointed to LASF’s Board of Directors on July 5, 2019.

Sagicor Group Jamaica Limited (SJ) has advised that at a special meeting of the Board of Directors of their subsidiary company, Sagicor Bank Jamaica Limited, Mr. Bruce James was appointed the Chairman of the Board with effect from July 8, 2019. SJ further advised that Mr. James, a Director since 2011, succeeds Mr. Richard Byles who resigned as Director and Chairman of SJ’s Board on June 30, 2019.

Sagicor Group Jamaica Limited (SJ) has advised that at a special meeting of the Board of Directors of their subsidiary company, Sagicor Investments Jamaica Limited, Mr. Christopher Zacca was appointed the Chairman of the Board with effect from July 8, 2019.
SJ further advised that Mr. Zacca succeeds Mr. Peter Melhado who resigned from the Board of Sagicor Investments Jamaica Limited, consequent upon his appointment as SJ’s Chairman.

iCreate Limited (ICREATE) has advised that Mrs. Sandra Glasgow tendered her resignation as Chairman and Board Member from the Board of iCreate Limited, effective July 5, 2019.

“Under her leadership and stewardship, Mrs. Glasgow successfully navigated the Company’s listing on the Junior Market of the Jamaica Stock Exchange. The Board wishes to express its sincere gratitude for her service to iCreate Limited,” states ICREATE.

ICREATE also advised that at a Board Meeting on July 4, 2019, the Board appointed Mr. Lissant Mitchell as Director and Chairman of the Board effective July 5, 2019. Mr. Mitchell was also appointed as Mentor to the Company.

“Mr. Mitchell is an experienced and driven executive with a successful career spanning twenty-five years in the Financial Industry, twenty of which have been at the management, senior management and executive levels, with tenures at local institutions as well as affiliates/subsidiaries of regional and international financial groups. He has a proven track record in designing and executing long term sustainable strategic priorities and change management initiatives. Mr. Mitchell has also served on a number of boards including that of the Jamaica Stock Exchange Limited, and Scotia Investments Jamaica Limited where he also served as its CEO.

“The Board and Management of iCreate look forward to the continued growth of the Company under the leadership of Mr. Mitchell,” ICREATE states.

Victoria Mutual Investments Limited (VMIL) has advised that Mrs. Karlene Mullings, Head of Sales and Client Services of Victoria Mutual Wealth Management Limited; a subsidiary of VMIL, is no longer with the organization, effective June 30, 2019.

Barita Investments Limited (BIL) has advised that Ms. Jacqueline Peart has resigned her post as Financial Controller of BIL, effective July 31, 2019.

Dolphin Cove Limited (DCOVE) has advised that Director, Mr. Travis Burke has resigned from the board with effect June 1, 2019.

138 Student Living Jamaica Limited (138SL) has advised that Mr. Richard Byles has resigned from his position as Chairman of the Board and its subsidiary effective June 30, 2019. 138SL has also advised that at a Board meeting held on July 3, 2019, the Board approved the appointment of Director, Ian Parsard, to the position of Chairman.

Sagicor Group Jamaica Limited (SJ) SJ has advised that consequent upon the announced appointment of Mr. Richard Byles to the post of Governor of the Bank of Jamaica, Mr. Byles has resigned as Chairman and/or Director of SJ, its subsidiaries and all Board Committees as at June 30, 2019.
SJ further advised that as an interim measure, Dr. the Hon. R.D Williams was appointed as Chairman to preside over the Company’s Annual General Meeting held on July 1, 2019 at 3:00 p.m. At a special Meeting of Directors held on July 1, 2019, Peter Melhado was appointed the Chairman of SJ effective July 2, 2019.
Mr. Melhado was also appointed Director and Chairman of the following subsidiaries:
Sagicor Life Jamaica;
• Sagicor Life of the Cayman Islands Ltd
He will continue as a Director of Sagicor Bank Jamaica Limited but will demit office from the Board of Sagicor Investments Jamaica Limited.

Medical Disposables and Supplies Limited (MDS) has advised of the appointment of the following managers:
Mr. Sheldon Rose, Operations Manager, effective May 6, 2019
Mr. Louis Manning, Sales & Marketing Manager (Consumer Division) effective June 17, 2019
Mrs. Antoinette McDonald, Divisional Sales Manager (Dr. Reddy’s Laboratories and Medical), effective April 1, 2018.

Scotia Group Jamaica Limited (SGJ) has advised of the appointment of Mrs. Debra Lopez Spence as Vice President, Sales and Service Insurance & Wealth effective July 1, 2019.

138 Student Living Jamaica Limited (138SL) has advised of the appointment of Mr. Cranston Ewan as Chief Executive Officer (CEO) of the Company and its subsidiary as of June 24, 2019.
138SL has also advised that Ms. Rose Hamilton, the present CEO, will go into retirement effective July 18, 2019.
138SL further advised that Director, Mr. Ian Parsard, has been appointed to the Audit Committee of the Board effective July 1, 2019.

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Government of Jamaica and Georgia Aquarium Sign Blue Economy MoU



Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, (third right) and President and Chief Executive Officer of Georgia Aquarium, Dr. Brian Davis (second left) sign a Memorandum of Understanding (MoU), which will facilitate the exploration of opportunities in the blue economy. Looking on (from left) are Director of Policy at the Georgia Aquarium, Dr. Dayne Buddo; President of Jamaica Promotions Corporation (JAMPRO), Shullette Cox; and Interim Chief Executive Officer of the Jamaica Special Economic Zone Authority, Mrs. Kelli-Dawn Hamilton. Others from (background, left) are Jamaica’s Consul General to Miami, Oliver Mair, and Jamaica’s honorary consul to Atlanta, Dr. Elaine Bryan. The MoU was signed at a reception hosted by the Jamaica Chamber of Commerce of Atlanta at the Georgia Aquarium on Wednesday (May 24).


Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, has signed a Memorandum of Understanding (MoU) with Georgia Aquarium, as Jamaica explores opportunities in the blue economy towards national development.

The MoU was signed at a reception hosted by the Jamaica Chamber of Commerce of Atlanta, at the Georgia Aquarium on Wednesday (May 24), and formed part of the Minister’s two-day trade visit to Atlanta.

The World Bank defines the blue economy as the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs, while preserving the health of the marine and coastal ecosystem.

In his remarks, Senator Hill said Jamaica was pleased to be a part of the blue economy initiative.

He commended Jamaica’s Consul General to Miami with responsibility to Atlanta Oliver Mair, whose initiative it was to partner with the Atlanta Aquarium.

For his part, President and Chief Executive Officer of Georgia Aquarium, Dr. Brian Davis, explained that the memorandum signed, was made possible from previous meetings, as well as work conducted over the last two years in Jamaica with local partners.

“We believe that we are in a strong position to explore working closely with the Government of Jamaica in a number of aspects,” Dr. Davis said.

Under the signed MoU, commercial cooperation by way of the purchase of ornamental fish for their location, as well as the aquarium industry in the United States of America (USA) is expected.

In addition, the Atlanta Aquarium will be working with the Government of Jamaica to assist in skills and capacity training and development, to support aquatic sustainability including animal care and life support systems.

Both parties will also work towards the protection of important marine areas through the establishment of fish sanctuaries in Jamaica. This will build on the work done so far in Jamaica, for the two new sanctuaries being gazetted.

Also, under the MoU, Georgia Aquarium will work with the Government of Jamaica to conduct research and education on sharks, towards the possible establishment of a shark sanctuary in Jamaica.

An exchange programme is also being looked at to facilitate the exchange of students and early career professionals, to gain exposure to relevant training programmes and environments both in the USA and Jamaica.

Both parties will also work towards the establishment of a Port Royal exhibition at the Georgia Aquarium, which will highlight Port Royal and the marine protected areas.

The Georgia Aquarium is the most popular visitor attraction in the state of Georgia, generating over US$120 million in estimated annual revenues, and has stimulated over US$5 billion of investments in the city of Atlanta.

While in Atlanta, Senator Hill met with several business interests and addressed a business breakfast sponsored by the Jamaica Chamber of Commerce of Altana.

He also attended a town hall meeting by members of the Jamaican community in Atlanta.

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Jamaica Lauded for Business Digital Platform



Jamaica has one of the best digital platforms in the region, says Managing Director of LPA Corporate Solutions (Caribbean) Limited, Elena Henckel DaCosta.

The platform, dubbed the ‘Jamaica Business Gateway’, is designed to streamline business to government interactions. It was recently launched at the AC Hotel by Marriott Kingston.

Speaking at the event, Mrs. DaCosta said the new platform is one of the best government portals in the region and Western hemisphere.

“I have analysed scores of government portals from Singapore in the east to Puerto Rico in the west, and if I may humbly say, the Jamaica Business Gateway (JBG) is world-class,” she said.

Mrs. DaCosta pointed out that with the platform’s launch, “many governments in the region will soon be knocking at your doorstep, asking for a peek into your progress as will become a flag bearer for digital transformation.”

Prior to the launch, there was no central platform where businesses, citizens and investors could go to submit applications digitally for several government services, apply for permits, licences, authorisations and/or approvals, as these were, and some still are, performed with paper-based or other manual processes.

Mrs. DaCosta recounted that when the project started 15 months ago, “it was merely an idea with some powerful concepts surrounding judicially transforming the way government interacts with the private sector, citizens and international investors in the process of executing e-government services.”

The development saw various supervising agencies, beneficiary groups, Ministries, Departments and Agencies working tirelessly to design the JBG – a solution which encompasses and envisions all stakeholder benefits and expectations.

Recognising the hard work of the supporting agencies, including the Planning Institute of Jamaica (PIOJ) and Jamaica Promotions Corporation (JAMPRO), Mrs. DaCosta said she has worked in information technology for the past 25 years, and “I’m totally inspired by Jamaica’s exemplary approach to project development and oversight.”

“Nowhere else have I worked, witnessed and experienced the level of responsibility, accountability and transparency adhered to and absorbed by these agencies, in their supervising capacity throughout the life of the project,” the Managing Director added.

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Deposit Portability Could Be A Reality Soon in Jamaica



Deputy Governor, Research and Economic Programming Division and Financial Stability, Bank of Jamaica (BOJ), Robert Stennett.

Individuals could soon be able to move their accounts easily from one bank to another.

The Bank of Jamaica (BOJ) is actively developing strategies to make deposit portability a reality locally.

Deposit portability will give the banked and unbanked the flexibility to shop around at the various banks to find the services that best suit their needs.

In addition to other features, the dream is that all standing instructions, inclusive of direct debits of credit cards, will remain intact without the complicated account opening procedures or know-your-customer (KYC) hassles.

Speaking with JIS News, Deputy BOJ Governor, Research and Economic Programming Division and Financial Stability, Robert Stennett, explained that the Central Bank is aware that the initiative is a game changer for banking in Jamaica.

“The Central Bank is currently working on strategies that will allow customers to close existing accounts and move their business to another bank easily; and what we call this is actions that will facilitate deposit portability,” he said.

Mr. Stennett noted that the BOJ would have to ask crucial questions to make this a reality.

“What is it that facilitates people’s ability to move their accounts around, to shop around and to actually move their accounts around,” he said.

“We admit that this is going to be a long-term effort, because it’s going to take a lot of time to develop the right strategies, lot of time to make the necessary amendments to the law, if there so needs to be, and a lot of time to sensitise and make customers aware of this facility,” the Deputy Governor further told JIS News.

In the meantime, the BOJ said it is cognisant that bank customers have not seen their savings gain significant interest, adding that it is wise for them to shop around to see the banks that offer higher interest on their savings.

“What the Central Bank has been doing recently is placing the information about interest rates and deposits in the public media, so that the public can see which bank is paying interest rates of say ‘x’ and ‘y’ per cent,” Mr. Stennett said.

The BOJ hopes that the transparency will allow customers to make informed decisions about their savings.

“The hope is that because of the transparency that this publication affords, customers will be able to move their deposits where they are able to. But of course, the Central Bank recognises that not all customers are able to easily get up and move their banking business from one bank to the next; and this is why we are working on deposit portability,” Mr. Stennett added.

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70 Additional Buses Expected for The Jamaica Urban Transit Company (JUTC) By September 2023



The Jamaica Urban Transit Company (JUTC) is to receive 50 additional buses, 45 diesel and five electric, by month end.

Additionally, 20 compressed natural gas (CNG)-fuelled units will be added to the fleet under a joint arrangement with private-sector partners. These are expected by September.

Minister of Transport and Mining, Hon. Audley Shaw, made the disclosure during his contribution to the 2023/24 Sectoral Debate in the House of Representatives on Wednesday (May 9).

“We are currently engaged in a Battery Electric Bus pilot project for the testing of six electric buses, which will evaluate the performance of these electric buses and form the basis for comparison to the diesel and compressed natural gas buses,” Mr. Shaw said.

“As a matter of fact, one electric bus is already in operation. As we take steps to address the number of seats needed to transport commuters, we are expecting to procure 200 electric buses over the next two years, among other initiatives being explored,” he added.

Mr. Shaw also informed that the JUTC has digitised its processes to facilitate application for charters and subfranchise licences, pointing out that an online portal was launched by the company in February this year.

He noted that this is a major step towards making the entity’s services more accessible and the processes more user-friendly.

“Persons who are interested in applying for charters or subfranchise licence may visit the JUTC’s website at and make the necessary arrangements and pay for the service online,” the Minister stated.

Meanwhile, Mr. Shaw said the current fare collection system used by the JUTC has become obsolete.

He informed that the procurement process for an upgraded Cashless Fare Collection System was significantly advanced; however, it was redirected for consideration by the Public Investment Appraisal Branch (PIAB).

“A pilot project where the system [is] operating on all the JUTC’s buses, at no cost to the people of Jamaica, is to be implemented. The outcome of this pilot will assist the process of review by the PIAB and further guide the way forward,” Mr. Shaw said.

Regarding the matter of fuel pilferage, the Minister noted that for more than two decades, the matter has been an issue for the JUTC.

“We are pursuing new methods to combat the innovative means by which thieves have been pilfering fuel. Without divulging too much, due to the sensitivity and security issues around this matter, we are working with a local company to introduce a technology-based solution that will assist us in detecting, locating, and tracking fuel theft where it occurs,” Mr. Shaw indicated.

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Jamaica Transport Authority Generates 88,000 Road Licences



The Transport Authority (TA) has surpassed the production target of 86,000 road licences, to record a landmark 88,000.

Minister of Transport and Mining, Hon. Audley Shaw, said these include Hackney, Rural Stage, Contract Carriage, Route Taxi, Jamaica Urban Transit Company (JUTC) Subfranchise, Private and Public Carriers Licences.

He made the disclosure during his contribution to the 2023/24 Sectoral Debate in the House of Representatives on Tuesday (May 9).

Mr. Shaw also informed that monitoring of public transportation services in Kingston was also enhanced with the re-establishment and relocation of the TA’s Operations Department to the Half-Way Tree Transport Centre from its previous location at Maxfield Avenue.

“This strategic positioning of the enforcement arm of the Authority closer to the hub of transport activity fostered better monitoring within the Half-Way Tree area and other key corridors in the metropolis,” he stated.

The TA also retrofitted several key areas to enhance customer service delivery.

Customer-centric services are now provided in one location at 107 Maxfield Avenue, which houses the Licensing Department and Motor Vehicle Release Unit, while the Corporate Office remains at 119 Maxfield Ave.

Additionally, customers in St. Catherine are now benefiting from the commissioning of the Transport Authority’s Linstead satellite office.

“Since its establishment, there has been marked improvement in public order within the public transportation services in the bustling township of Linstead,” Mr. Shaw indicated.

The entity is also targeting other initiatives for fiscal year 2023/24, including implementation of an islandwide camera network infrastructure with other agencies to improve monitoring capabilities within the transport sector, and temporary relocation of the Transport Authority’s Lakes Pen pound facility in St. Catherine to Water Lane in Kingston.

Other initiatives include the implementation of the TA’s Digital Transformation Project.

This will focus on digitising all processes associated with licensing, operations and the legislative framework governing the Authority; the establishment of a satellite office in St. Elizabeth, and the rollout of an Electronic Ticketing System to replace written summonses.

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