Caribbean Money

The University of Technology, Jamaica (UTech, Jamaica) and Y Smart Data - a pioneering Jamaican geospatial technology company focused on transforming how communities are mapped, identified, and served, have signed a Memorandum of Understanding (MoU) to collaborate on digital solutions aimed at modernizing Jamaica’s postal system. The partnership will mobilize over $15 million in cloud services, training, and technology to pilot transformative, cost-effective solutions, with the goal of digitizing mail notifications in five (5) non-delivery post offices by 2026. The two entities concretized this partnership on Friday, April 25, 2025, with the signing of the MoU at the UTech, Jamaica, Papine Campus. Under the agreement, UTech, Jamaica through its Technology Innovation Centre, (TIC) will provide incubation services to Y Smart Data. Both entities have agreed to collaborate and share relevant information for the development of an addressing system for Jamaica that enhances logistics, incre...

The GraceKennedy (GK One) mobile app in 2024 claimed user growth and repeat usage rate, exceeding 80 per cent after launch of its send-remittance feature, enabling customers to send remittances via Western Union. In October GK also introduced a third-party insurance product within the app through GKGI and accelerated its digital transformation with the launch of GKGOnline 2.0 in May, which allows customers to renew insurance policies in minutes using an enhanced web-based platform. New CEO of GraceKennedy, Frank James indicates that in the new financial year the company will be scaling business with ambitious targets to double revenue and triple profits by 2030, “With 70 per cent of our revenue and profits coming from markets outside Jamaica. But our vision extends beyond financial growth. We are also committed to our purpose which is to bring superior products and services to customers that contribute to a better global society and greater financial wellbeing.” One plank of the s...

  Everything Fresh Limited in its new annual report indicates that the priority for the year ended was to identify and understand the target audiences for the Group’s varied product offerings and coordinate marketing activities to effectively reach them. Everything Fresh reported earnings results for the full year ended December 31, 2024. For the full year, the company reported sales was JMD 3,677 million compared to JMD 3,171.77 million a year ago. Net income was JMD 30.1 million compared to JMD 98.68 million a year ago. Basic earnings per share from continuing operations was JMD 0.0386 compared to JMD 0.1265 a year ago. The trader was incorporated on August 18th, 2003, commencing operations some five years later in October of 2008. The Company imports and manufactures high-demand food products to include dairy products, assorted dry and canned goods, fruits, vegetables, seafood and delicatessen meats and distributes them to various blue-chip companies and businesses in Jamaica...

  During the 2025 Sagicor Innovation Challenge hosted by the University of Technology, Jamaica and Sagicor Group on April 22, 2025, data scientists from the University of Technology Jamaia and members from Sagicor Group called for the use of blockchain’s distributed ledger to expand the window for inter-bank transfers in the island of Jamaica. This call for action took place during one of two panel discussions, “FinTech: How Can We Use Blockchain to Increase the RTGS Time Window by 2027?” featured leading voices in technology and finance. Moderated by Dr. Lisa Facey-Shaw (left), Associate Professor, School of Computing and Information Technology (SCIT). Dr. Facey- Shaw specializes i Innovation & Emerging Technologies, ICT in Education, Programming, Emerging Technologies and Information Systems Research. Pannellists (from left) Mr. Mario Griffiths, Director of Payment System Policy & Development, Bank of Jamaica, Mr. Aldane Milton, AVP of Shared Services IT, Sagicor Grou...

  Angel Pinnock, a standout University of Technology, Jamaica student from the School of Computing and Information Technology, Faculty of Engineering and Computing who is pursuing a Bachelor of Science in Computer Science took home the grand prize of JMD $1,000,000 at the final pitch round of the 2025 Sagicor Innovation Challenge held on Tuesday, April 22, 2025 at the Jamaica Pegasus Hotel, hosted by the University of Technology, Jamaica in collaboration with Sagicor Group. Pinnock’s innovative solution, Gully Guard will provide cutting-edge flood-sensing technology that promises to revolutionize the way Jamaica tackles devastating gully flooding and dumping. Gully Guard, the core solution of her business, FloodSense, addresses the urgent and recurring problem of gully flooding across Jamaica, a hazard that causes severe property damage, loss of life, and billions in recovery costs each year. This will also address the problem of illegal dumping. By using Internet of Things (IoT...