Jul/Sept 2018 Articles


Unleashing the power of the stock market will drive wealth creation by funding ventures that local banks are not inclined to support adequately.

 


Economic transformation requires shared national vision and leadership from all sectors and institutions regardless of which party holds the reins of power.


This article discusses the business models of two mutual firms in Jamaica with a view towards answering one critical question: What strategy should Jamaican mutual firms adopt to avert or reverse declining financial health? Observations span a period of nine years to obtain a long-term picture of financial performance. The firms examined are the Community & Workers of Jamaica Cooperative Credit Union Ltd. (C&WJ) and the Jamaica National Building Society (JNBS).


The IDB says crime and corruption cost the Jamaican economy some four percent of GDP so any talk about serious economic growth must address this issue squarely.


The vision of economic independence is not unattainable. Jamaica, over the last decade, has made some strong structural, fiscal and monetary transformation towards building a stronger and more resilient economic system.

 


Substantial funding is available for social enterprises but many of them are not cashing in because they lack the capacity to absorb and use the funds properly.


For some time now traditional financial institutions have been facing disruptions in their business model as new technologies facilitate major changes in customer perceptions and expectations. How are the banks responding?


Business executives increasingly consider information to be one of their most important competitive weapons, but few organisations have any sense of the value of their Data & Information assets.

Local Business News

We admire them from afar and some of their stories have been brought to life by the business pages of this newspaper. But, never like this. The Jamaica Observer Sunday Finance Q10 (10 questions) lays bare the stories of some of our most accomplished, erudite and fascinating men and women in business, to assist in bolstering the confidence of our next generation and make the unattainable seem within reach.

Community & Workers of Jamaica Cooperative Credit Union Limited (C&WJCCUL) became the first mutual society in Jamaica to officially list on the Jamaica Stock Exchange (JSE).That listing took place last Friday at the JSE head office on Harbour Street in Kingston.

Jamaica’s export-import bank is lending support to the export initiative out of investment promotion agency Jampro, which helps entrepreneurs with market access. The programme is now in its third cohort, with 48 small and medium companies...

Jamaica's imports for January to April 2020 were valued at US$1,680.6 million, a 23.1 per cent decline when compared to the US$2,186.7 million spent for the same period in 2019.The figures regarding the decline in imports, among others, were released earlier this week by the Statistical Institute of Jamaica (STATIN), thorough its International Merchandise Trade (IMT) Bulletin.

Dear Claudienne:I have a National Housing Trust (NHT) problem and I have been a contributor for over 20 years.I applied for a refund of my contributions for 2012, but despite my getting updates from the National Water Commission eight months ago and giving them to the Compliance Department at the NHT head office in Kingston, they have still not updated my account for the six years that they told me are missing.

ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER QUESTION: I am about to retire and would like some information about annuities. – Janet FINANCIAL ADVISER: An annuity is a contract between two parties – the issuer and the annuitant – whereby the...

With over 30 per cent of its members directly linked to the tourism industry which buckled under the strain of the COVID-19 pandemic, chief executive officer (CEO) of Gateway Co-operative Credit Union Limited Ornell Bedasse says it has offered COVID-19 relief packages to offset members' financial hits.

GraceKennedy (GK) Group on Thursday last reported an unaudited net profit of $3.1 billion for the six-month period ended June 30, 2020, representing a 34.3 per cent increase when compared with the previous corresponding period.The Group also achieved revenues of $56.5 billion, an increase of $5 billion or 9.8 per cent when compared with the corresponding period last year, and a $4.56 billion profit from operations, up 60.5 per cent.

In the famous song My Way sung by Frank Sinatra, the crooner sings, “Regrets…I've had a few, but then again, too few to mention.” However, when you look back years from now on the events of 2020, what will you wish you had done differently?

From Harvard Business Review

Stop ghosting the things you don’t want to do.
It’s about resilience, not indulgence.
Three strategies to turn your adversaries into allies.

Executive Insights

October 9, 2018

Several conversations surrounding different aspects of climate change have been top of the news over the last week. These include: changing hurricane patterns; sea temperatures warming; overall global warming; earthquakes and powerful tsunamis; polar melts; coral reef destruction; dangers of extinction of certain species that are important to agriculture, among others.

June 12, 2018

In just one week and two airplane rides, the media, the speculators, the “expert” analysts, and the political spin doctors are up at full speed. Contradictions of opinions, historical precedencies, former diplomatic maneuvers, and fairly obscure academics are having their one minute soundbites that will give rise to yet another book.

June 8, 2018

Barbados has a historical reputation (similar to Jamaica) of punching above its fighting weight. Who can forget the famous telegram supporting Britain in the Second World War: “Go ahead, Barbados is behind you”, this as Britain declared war on Germany and Hitler’s 3rd Reich. It was more than a statement; it was an AUDACIOUS statement from “Bimshire”

Letters to the Editor

MSBM Review invites your views on any issue of interest to you. Submissions must include your name and email address and should be kept to 300 words or less. We may use letters in either the Print or Web edition of the Magazine.

Blogs

September 30, 2016

Of the five priority Action Areas emerging from the deliberations at the successful IODC 2015 in Ottawa, Canada (i.e., The Charter, Standards, Capacity Building, Measurement, Innovation), the latter—Innovation, otherwise described as the “Problem-Solving” Action Track — is perhaps, the most eclectic and least structured of the areas.

September 15, 2015

No matter what source you subscribe to, the numbers are staggering, when one considers the potential economic value of open data. The McKinsey Global Institute estimates approximately US$3 trillion value potential across 7 domains. The Warsar Institute for Economic Studies projects a contribution of €205 billion annually to the European Union. An Omidyar Network study suggests open data impact for the G20 countries could be US$2.6 trillion per annum or 1.1% of GDP. What does this mean for small developing countries like Jamaica?..

March 10, 2014

The expression "Innovation at the periphery", has become more popular in the last few years and perhaps even over-used in several contexts. It describes technological innovations in seemingly remote geographical regions. It promotes the "skunkworks" innovation that takes place within an enterprise, but outside of mainstream R&D centres. It highlights indigenous frugal innovations that emerge out of developing country contexts, whose global adoption reverse the accepted convention of North-South technology transfer.