“We are embracing a new way of issuing licences, which is currently done on an open-and-closed basis. We will be moving towards a market-driven situation. Under the new arrangement, it will not matter how many persons apply. If there are too many operators on one route, the market will fix that. If someone applies for a route, they will have 30 days to determine if it is working. If not, they can make the change. You have route taxi associations through which our licensees make their applications. We want to strengthen the ability of those route taxi associations to prepare the drivers and operators for Vision 2030. The Authority is looking at how we can start building out something that represents world-class standards, so these changes are necessary. The improvements being made to the transport sector entails more than just having nice-looking buses but also ensuring proper organisation of all modes of public transportation. Whatever we are doing, it should be comparable to what happens in developed countries, so that’s what we are focusing on right now”

Managing Director of the Transport Authority, Willard Hylton

Part 1: Fish or Fowl – When It Comes To Fare Fixing, Are We In The Public Or Private Sector? – To Achieve Vision 2030 For The Public Transportation Sector A New Business Model Is Needed Now…NTAG

The Jamaica Special Economic Zone Authority (JSEZA) is positioning Jamaica to tap into the multi-trillion-dollar Environmental, Social and Governance (ESG) investment market.

ESG investing refers to putting money in companies, which, through their environmental performance, social impact and governance issues, are focused on balancing people, planet and profits.

It is becoming increasingly popular as investors seek long-term value and alignment with sustainability and climate-related objectives.

According to the United States (US) Sustainable and Impact Investing Trends biennial report, the ESG market was valued at $17.1 trillion in 2020, growing exponentially throughout the pandemic to about $30 trillion.

Jamaica is signalling its readiness to enter the market through development of the ‘Sustain-a-Livity’ concept, which was presented to global investors at the recently concluded World Expo 2020 Dubai.

During the event, JSEZA hosted a Jamaica Connects Business Forum on ‘ESG Investing in Jamaica: The Sustain-a-Livity Way’.

“If you look at it from a stock exchange perspective, the companies that integrate ESG into their systems were performing better than the regular companies that didn’t. So, we were basically saying, we want in on the market,” JSEZA Senior Director for Regulations, Policy, Monitoring and Enforcement, Ainsley Brown, told JIS News.

“What we did was reframe it [ESG] into our own sustainability concept because we are not just talking it, we are living it,” he added.

Mr. Brown told JIS News that companies that implement ESG in their operations are known for value creation and risk mitigation.

On the value creation side, they experience stronger growth, greater productivity, higher return on equity and a higher credit rating. As it relates to risk mitigation, they have lower loan and credit default rates, and reduced legal and regulatory interventions.

Sustain-a-Livity is a Jamaican concept focused on harmonious living developed through awareness and expansion of workstyle, lifestyle, life-based and spiritual interests.

The concept is a critical part of the JSEZA sustainable economic development framework, which emphasises development for social progress, environmental stewardship and economic growth for all Jamaicans and generations to come.

Sustain-a-Livity is incorporated in the Authority’s operations from the review of applications to the facilitation of business, and is promoted throughout the local special economic zones that JSEZA regulates.

Mr. Brown shared that implementation of the concept is manifested in ways such as the adoption of International Organization Standardization (ISO) and other types of standards, and the creation of growth-fostering work environments.

He noted that the Sustain-a-Livity concept was well received by potential investors at World Expo 2020 Dubai.

“They are really drawn to it, and in speaking to people from other special economic zone authorities that are seeking to integrate certain sustainability concepts, they’re looking at us and saying, ‘wow, you guys are ahead of the game’ but we are just scratching the surface,” he told JIS News.

“We have not gone really deep into certain things as yet, but the fact that we even have a monitoring mechanism in place in the Sustain-a-Livity framework, which most zones do not have, is significant,” Mr. Brown added.

During the six-month World Expo 2020 Dubai from October 2021 to March 2022, which attracted over 24 million visitors from around the world, the Jamaican delegation promoted the island as a prime destination for investment in several areas including ESG.

Source JIS

Jamaica will host the World Free Zones Organization (World FZO) Annual Conference and Exhibition 2022 (AICE 2022) at the Montego
Bay Conference Centre from June 13 – 17. AICE 2022 is being held under the theme “Your Partner for Resilience, Prosperity and Sustainability.”
More than 1,000 delegates from many of the 140 World FZO member countries are expected to be present for the 8 th staging of the annual event, which the Jamaica Special Economic Zones Authority (JSEZA) successfully bid to host.

The Ministerial Committee comprises Senator the Hon. Kamina Johnson Smith, Minister of Foreign Affairs and Foreign Trade; the Hon. Edmund Bartlett, Minister of Tourism and the Hon. Olivia Grange, Minister of Sports, Youth and Culture.
JSEZA is an agency of the Ministry of Industry, Investment and Commerce.

On this episode of Taking Stock…Jamaica’s Electric Vehicle market is getting a jolt! Two Jamaican-Canadians are launching Flash Motors to sell electric vehicles, service equipment, and charging networks in Jamaica and across the Caribbean. And Wigton just bought up a 21-percent stake in the company. Talk about a game changer! The Flash team will tell us all about it.

And THE ANALYSTS weigh in on the latest market developments… Now that the entertainment sector is back up, will we see a rise in entertainment stocks such as Main Event and KLE? EduFocal stock jumped 200-percent in its first week on the Jamaica Stock Exchange… why? And Honey Bun is reporting a 31 percent increase in net profit for its first quarter. We’ll discuss.

The bond is to be listed on the Private Market of the Jamaica Stock Exchange, with NCB Capital Markets Limited (NCBCM) acting as Arranger, and JCSD Trustee Services Limited as Trustee. The facility is for an aggregate principal sum of One Billion Jamaican Dollars (J$1,000,000,000.00).

The proceeds will be utilized for general corporate purposes that support FESCO’s growth objectives, including working capital, operating expenses and capital expenditure related to the:

1. Expansion of its dealership network and service station footprint; and

2. Entry into the consumer cooking gas/LPG market, an objective outlined in its Prospectus.

The facility offered by NCBCM is compatible with the business’ growth plans and sustainability strategies.

“FESCO represents one of the several initial public offers we would have brought to the market in the last 24 months. Our relationships with our clients are on-going and we continuously work with our clients to develop suitable options to meet their capital needs. The J$1 billion bond is such an example. This underscores our commitment to doing more for our clients and the capital markets at large” stated Nicholas Dawson- Investment Banking Manager of Origination and Structuring at NCBCM.

Future Energy Source Company Limited is a Jamaican-owned fuel marketing company operating since 2013, licensed to market and distribute petroleum products in Jamaica with a network of sixteen (16) service stations.