Large manufacturing and distribution company Wisynco Group has reported earnings of $4 billion for its 2022 financial year, a 32 per cent profit boost over the previous year. Revenue from operations for the year ended June 30, 2022, was $39.1...
Sean Scott is leaving his job as CEO of Canopy Insurance to take on a new role as deputy CEO of the Wisynco Group Limited, another step in the succession planning of the multigenerational beverage and consumer products business. Scott has headed...
Construction materials company Arc Manufacturing Limited is converting one of the warehouses at its plant on Bell Road in Kingston into factory space prepares to venture into the manufacturing of steel hollow sections and metal pipes. The two new...
The Jamaica Business Development Corporation, JBDC, has hand-picked 30 micro and small agro-processors for a new programme to test the efficacy of a model aimed at minimising common problems along the agro-processing value chain, which, if...
Work on the development of a secondary market for repossessed, movable assets is pressing ahead, the latest move being the engagement of an e-commerce development specialist to design the digital secondary market solution with features that allow...
Kraft Jewellers, a business that is majority owned by businessman Winston Mair and which occupies a storefront at Premier Plaza in Half-Way Tree, Kingston, is going out of business. The jewellery and small appliances store which was incorporated...
Dane Nicholson, manager of special investigations in the Fraud Prevention Unit at National Commercial Bank Jamaica, NCB, wants financial institutions to pay greater attention to security features during the development of mobile wallets amid a rise...
Exploration of possible solutions to the ageing population crisis in the Caribbean is bending towards governments’ adopting a programme that slashes pension payouts into smaller weekly amounts, while simultaneously delaying payouts beyond the set...
Fuel marketing business Petroleum Company of Jamaica Limited, Petcom, is restructuring. Earlier this month, the board appointed Mike Alexander Hylton as deputy executive chairman and another two or three board-level appointments are expected by the...
Flow Jamaica has decommissioned the service of Dekal Wireless, a network that was acquired by the company in 2014 to deepen its reach into rural Jamaica. The decommissioning, which took effect on Thursday, June 30, comes amid an ongoing expansion...
Newbie company Gastronomic Concepts is pumping $36 million into the buildout of a lounge branded as Republic, just a year after launching Japanese restaurant brand, Oceano. The company, which was formed in the midst of the COVID-19 pandemic, has...
Microfinance company Dolla Financial Services has entered an agreement with energy solutions provider RTA Biz, a deal projected to bring about 700 additional clients to the microfinance company over the span of one year. The company, which is...
Weeks after the Senate officially passed legislation to enable the full roll-out of Jamaica’s digital currency Jam-Dex as legal tender, another three banks have stated their intention to move swiftly on the launch of digital wallets to facilitate...
VM Property Services Limited, VMPS, is going after a bigger slice of the residential property management market with the launch of a digital solution called Propman, a product that establishes the company as an early mover in the rollout of a fully...
Jamaica’s beekeeping community will get hands-on training from two American experts, who will also assist with technical assessments on the threat the aggressive and migratory Africanised honeybee poses for the local industry. Under the USAID...
In a move described as a last resort by a senior officer at National Commercial Bank Jamaica, NCB, the market leading bank will be increasing interest rates for some customers who are in the process of repaying borrowed funds. The borrowers to be...
Management’s mindset tops the list of challenges in effectively implementing remote work arrangements locally, which requires an environment of trust. The issue, which came to the fore at a forum hosted by the Jamaica Productivity Centre, JPC, has...
Lasco Distributors Limited, LASD, is creating a special team to craft a differentiated market strategy that is more agile and consumer-centric. The new unit being created under managing director John de Silva, just over a year after he was hired...
GraceKennedy Group wants a bigger presence in the Caribbean’s life insurance market, and is chasing yet another deal to grow the division. It’s now in eight countries but has set a target of up to 15 markets, and is in the process of acquiring...
Former parliamentarian Dr Fenton Ferguson is to undertake a real estate development in St Thomas, his first project in the residential housing market after losing his seat to Dr Michelle Charles in the 2020 general election. He will be constructing...
Microfinance company Dolla Financial Services wants to raise $500 million from stock market investors later this month, the maximum equity raise allowed for new listings of junior market companies. The offer at $1 per share runs from May 27 to June...
Unending supply chain bottlenecks and rising shipping costs, coupled with a general surge in demand for consumer goods, have forced local manufacturing and distribution companies to re-examine their approach to inventory management. War and the...
Financial analyst and investor John Jackson, a director and minority shareholder in SSL Venture Capital Jamaica Limited, SSLVC, has objected to the bid price for the shares by MFS Acquisition, claiming it vastly undervalues SSLVC, and has formally...
KLE Group Limited has segued from food services to property management and development, marking its second major makeover in a decade as a listed stock market company that has found sustainable profit elusive. But the restructuring and adoption of...
MFS Acquisition Limited, the newly formed company that’s taking over SSL Venture Capital Jamaica Limited, SSLVC, has placed an offer on the market for all the outstanding shares, but has made it clear it wants no more than a 79.08 per cent interest...
