Jamaican companies that trade in foreign markets are facing resistance to retail price increases, putting the squeeze on export revenue and margins for some small and medium-sized manufacturers. Still, their stance is to hold strain despite the...
Larren Peart, founder and managing director of data company Bluedot, has sold a portion of his company to conglomerate GraceKennedy Limited just three months after reacquiring 80 per cent of its business from three shareholders, one of which held a...
Regional bank CIBC FirstCaribbean is going after new borrowers through a digital loan store, a processing channel that allows prospective clients to access funds in as little as ten minutes, the bank says. The web-based application has already had...
Large manufacturing and distribution company Wisynco Group has already pumped about $150 million into a fire-suppression system for its Lakes Pen complex in St Catherine, but Chairman William Mahfood says more funds will be invested in sprinkler...
Large grocery retailer PriceSmart is expanding its ‘direct farm programme’ to all 12 countries where it operates, including Jamaica, but is still working through the details. Through the programme, PriceSmart procures “high-quality fresh products...
Canadian mortgage financier EquityLine Mortgage Investment Corporation is floating the idea of a possible second capital raise in Jamaica as it readies itself to cash in on the island’s ongoing real estate boom, disclosing plans for what it says is...
As the July deadline for microlenders to be licensed under a new supervisory regime by the Bank of Jamaica (BOJ) looms, the group representing microcredit institutions (MCIs) across the island is looking forward to a sit-down with the Ministry of...
Food distributor Rainforest Seafoods Limited, which also trades as Rainforest Caribbean, and is known for its wide array of frozen seafood, has expanded its product portfolio, creating a new revenue stream with the introduction of Rainforest-...
United States-based fried chicken franchise BirdShack’s trademark bird atop a weathervane has flown Jamaica’s way, promising to ignite a new round of competition in the local fast food market, particularly the apparently lucrative fried chicken...
A government ambition articulated by Finance Minister Dr Nigel Clarke to power electric vehicles, EVs, in Jamaica with energy from the sun by 2032 has been welcomed by EV business stakeholders, among them the island’s largest independent supplier...
GK Investments Limited, a subsidiary of GraceKennedy Group, will acquire shares in a company that is for now only being described as a data analytics and fintech firm. The deal is expected to close in less than a month, Group CEO Don Wehby says. It...
Business operators making early moves in the electric vehicle market are still analysing the concessions proposed by the Government this week, but their initial take is that the measures are counterproductive. The minister of finance announced a 20...
Food manufacturing giant GraceKennedy Limited is exploring how it can integrate more of its international manufacturing processes into its five Jamaican plants amid back-to-back catastrophic global events that continue to pressure its supply chains...
Soaring logistic prices and material shortages had manufacturing companies on their toes last year trying to keep production up and the pass through of the costs to consumers in check. This year there is a new worry. Local manufacturers are keeping...
Evergo Jamaica is roughly half-way through phase one of its electric vehicle charging station buildout, with the latest installation located at the Texaco Ironshore gas station in Montego Bay. Another at the Jamaica Inn resort in Ocho Rios, St Ann...
Courier company Mailpac Group Limited has for two consecutive quarters posted a decline in sales revenue, a performance that suggests the extraordinary growth experienced by the company throughout the pandemic might be slowly fading. Revenues for...
Lydford Logistics, the business that acquired meat-processing company Sweet River Abattoir in early 2020, spent the first year repairing strained relationships and rehabilitating its brand. Now Sweet River is back to doing business with 32 farmers...
Active Home Centre, a retailer of construction finishing materials and furniture, has opened a second retail store in Montego Bay. The expansion into another city comes nine years after Active Home Centre opened its flagship store at Constant...
Palace Amusement Company is banking on a reinvigorated cinema market as movie producers signal a shift in distribution that reprioritises theatrical releases. The Jamaican cinema company is preparing for more attractive movies over the months of...
T he Royal Jamaican ginger-flavoured beer is back in production after a three-year hiatus, and in its comeback the owners are aiming for markets both inside and outside Jamaica. Founders of RJ Rums and Spirits, Rick Anand and Peter Wong, have...
Eppley Caribbean Property Fund is seeking properties suitable for business process outsourcing and hospitality businesses, further diversifying its commercial portfolio. Since its acquisition by Jamaican company Eppley Limited, more than three...
Scotiabank Jamaica has set aside $3 billion as loan financing for women entrepreneurs in a refreshed plan to address what the bank says is the under-representation of women in the business world. The lending programme – dubbed Scotiabank’s Women...
SSL Venture Capital Jamaica Limited, which trades as SSL Ventures, has offloaded its remaining 30 per cent interest in Bluedot Data Intelligence for US$99,000 to Larren Peart, ending a three-year investment in the data marketing company. At that...
Exports of Jamaica’s St Julian and East Indian mangoes are expected to double in quantity for the 2022 crop, as more exporters answer the call from the Ministry of Agriculture to fill the growing demand for the luscious fruit in international...
Student housing developer and operator 138 Student Living Jamaica, 138SL has agreed new terms with the University of the West Indies, Mona, details of which will be published in the company’s upcoming annual report. After months of negotiations,...
