Wed | Dec 7, 2022

Stories by Karena Bennett - Business Reporter

Published:Sunday | June 26, 2022 | 12:09 AMKarena Bennett - Business Reporter

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...

Published:Sunday | June 26, 2022 | 12:07 AMKarena Bennett - Business Reporter

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...

Published:Sunday | June 19, 2022 | 12:05 AMKarena Bennett - Business Reporter

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...

Published:Friday | June 10, 2022 | 12:08 AMKarena Bennett - Business Reporter

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...

Published:Tuesday | June 21, 2022 | 6:37 AMKarena Bennett - Business Reporter

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...

Published:Sunday | June 5, 2022 | 12:07 AMKarena Bennett - Business Reporter

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...

Published:Sunday | June 5, 2022 | 12:05 AMKarena Bennett - Business Reporter

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...

Published:Friday | May 27, 2022 | 12:59 AMKarena Bennett - Business Reporter

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...

Published:Friday | May 27, 2022 | 12:52 AMKarena Bennett - Business Reporter

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...

Published:Monday | May 23, 2022 | 8:19 AMKarena Bennett - Business Reporter

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...

Published:Sunday | May 22, 2022 | 12:05 AMKarena Bennett - Business Reporter

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...

Published:Friday | May 20, 2022 | 12:10 AMKarena Bennett - Business Reporter

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...

Published:Sunday | May 15, 2022 | 12:08 AMKarena Bennett - Business Reporter

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...

Published:Friday | May 13, 2022 | 12:08 AMKarena Bennett - Business Reporter

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...

Published:Sunday | May 8, 2022 | 12:06 AMKarena Bennett - Business Reporter

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...

Published:Sunday | April 17, 2022 | 12:06 AMKarena Bennett - Business Reporter

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...

Published:Thursday | April 14, 2022 | 12:09 AMKarena Bennett - Business Reporter

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...

Published:Sunday | April 10, 2022 | 12:11 AMKarena Bennett - Business Reporter

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...

Published:Friday | April 8, 2022 | 7:46 PMKarena Bennett - Business Reporter

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...

Published:Sunday | April 3, 2022 | 12:07 AMKarena Bennett - Business Reporter

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...

Published:Sunday | April 3, 2022 | 12:07 AMKarena Bennett - Business Reporter

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...

Published:Friday | April 1, 2022 | 12:08 AMKarena Bennett - Business Reporter

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-...

Published:Sunday | March 27, 2022 | 12:08 AMKarena Bennett - Business Reporter

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...

Published:Friday | March 25, 2022 | 12:09 AMKarena Bennett - Business Reporter

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...

Published:Sunday | March 13, 2022 | 12:07 AMKarena Bennett - Business Reporter

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...

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