JSE to sign agreement with Guyanese Chamber of Commerce in January 2025

 

 


For the first time, an agreement will be inked between the Georgetown Chamber of Commerce and Industry (GCCI) and the Jamaica Stock Exchange (JSE).

The organisations are slated to sign a Memorandum of Understanding (MoU) during the three-day annual Regional and Investments Conference set for next January at the Jamaica Pegasus under the theme ‘Safeguarding the Capital Markets Conference.’

Guyana’s successful exploitation of the oil sector has attracted investors, among them Jamaicans. In capital market conferences held in that nation, Jamaica Stock Exchange head Dr. Marlene Street Forrest referenced the need for a more balanced approach to investment, where businesses can tap into various forms of financing to fuel their growth.

"We’ll be talking about accessing a myriad of capital, loan, capital, equity capital, a mix of both of these, mezzanine financing, all the types of financing that one can do in order to grow and develop a business,” she said.

Another aspect of the conference was a focus on democratising Guyana’s natural resources. Dr. Street-Forrest said that the discussions would not be limited to the oil sector, which has been the primary focus in recent years.

Instead, she said, investors should explore opportunities in other sectors, ensuring that the benefits of Guyana’s wealth are widely distributed and accessible to all.

With regards to the upcoming agreement, “The signing of this MoU is critically important to both the Jamaica and Guyana as they advance the development of their capital markets. We are eager and excited to navigate a pathway which we believe can eventually lead to the integration of the regional capital markets. The JSE is excited and eager to get this done said Dr. Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange.

Dr. Street Forrest went on to say: “As JSE leads the way in expanding and developing the stock markets, having this MoU will certainly open numerous opportunities thus further enhancing the Guyana economy, as business access capital for expansion and further growth and investors, invest in these growing businesses. This is a win, win situation.”

Spearheading this initiative in Guyana, is Mr. Kester Hudson, GCCI’s President, is slated to head Guyana’s delegation to the January 2025 event. While Dr. Marlene Street Forrest the Managing Director of the JSE leads the initiative for Jamaica. Both parties are expected to sign the MOU during the JSE’s Regional Conference on Investments & Capital Markets from January 21-23, 2025.

The JSE stated in its announcement of the forthcoming agreement, “Both parties believe the MOU will further enhance and motivate local businesses and attract foreign firms to participate in the regional stock market and the wider economy.

“Dr. Street Forrest is excited at the prospects of Georgetown and Kingston moving forward with the promise made and she noted that the JSE remains committed and dedicated to fostering growth and development of the stock markets within the region.

“The forthcoming MOU signing is particularly important in helping to enhance relationships in the Caribbean Community (CARICOM) while simultaneously “creating more opportunities for businesses in Guyana and its regional counterparts.” Dr. Street Forrest explained.

Information Source: Jamaica Stock Exchange.

Photo credit: Exxon drilling offshore Guyana. inewsguyana.com

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