Caribbean Money

  The University of Technology, Jamaica (UTech, Jamaica) is set to mobilize $15 million initiative to implement a digital technology service including cloud services, and training to pilot a digital notification system at five post offices across Jamaica, with a focus on underserved communities. For the first time, YSmart Data Limited has developed smart codes for Jamaican communities. These codes are like zip codes, but include a four-digit extension tied to precise locations and specific landowners. At the finals of the 2025 Sagicor Innovation Challenge on April 22, 2025, held at the Jamaica Pegasus Hotel, Dr. Kevin Brown, President, UTech, Jamaica, announced the university's plans to mobilize JMD $15 million in cloud services, technology, and training to improve the country's postal service. Dr. Brown highlighted that many Jamaicans still lack formal addresses, emphasizing the need for digital solutions to address this gap. “In the modern era, there are improvements we can...

 Dr. Kevin Brown, President, University of Technology, Jamaica (UTech, Jamaica), hosted a special courtesy call with U.S. Congresswoman Dr. Yvette Clarke and former New York City Councilwoman Dr. Una S. Clarke on Thursday, April 17, 2025, at the university’s Papine Campus. Dr. Brown was joined by members of the university’s management teams in welcoming the distinguished guests. Congresswoman Yvette Clarke, who has represented New York’s 9th Congressional District since 2013 and currently serves as Chair of the Congressional Black Caucus, was accompanied by her parents, Mr. Leslie Clarke and Dr. Una Clarke, who is recognized as the first Caribbean-born woman elected to the New York City Council, where she served from 1992 to 2001. Both Dr. Una Clarke and Congresswoman Yvette Clarke are recipients of honorary doctorates from UTech, Jamaica, awarded in 2005 and 2019 respectively. The visit was facilitated by Professor Carol Archer, Professor of Urban and Regional Planning in the Facu...

Our hearts go out to the families and loved ones who lost someone dear in the tragic building collapse in Santo Domingo, Dominican Republic. We also stand with those who are injured, praying for their healing, strength, and comfort. This is a moment of deep sorrow for the Dominican Republic, for the Caribbean, and for everyone who believes that no night of celebration should ever end in such loss. As the investigation into the collapse continues, the lessons we can already take from this event are crucial, especially for the business and corporate sectors. The magnitude of the tragedy and the loss of life underscore the critical need for proactive safety measures and corporate responsibility in safeguarding human lives.   A Night of Joy Turned to Tragedy On April 8, 2025, a night intended for music and celebration became one of the darkest moments in the region’s history. At least 232 lives were lost, lives full of promise, and many who had contributed to shaping culture, s...

Team Jana from the Faculty of Engineering and Computing at UTech is proposing a mobile app and data analytics system which will solve issues plaguing public transport for both commuters, vehicle operators, and the Government. These issues include long wait times, unpredictable vehicle schedules, and lack of data in the public transportation sector. The app aims to be a travel companion for commuters, allowing them to see information on the state of a bus or taxi stop. They will be able to see an approximation on the number of people waiting and the approximate wait time for the vehicle they need (basic features to be expected). Commuters will also be able to indicate when they are waiting at a stop. Vehicle operators, however, will be able to see an alternate interface on the app with access to the same data. This is in order to help them make more informed decisions on their scheduling and their routes. In the fifth year of the Sagicor Innovation competition created to foster creat...

  Robert Almeida, Chairman of Guardian Group Limited indicates that the company’s leadership will remain alert for new opportunities in a world which is rapidly changing. In the company’s new annual report, he commented, “In the words of Warren Buffett, “Every crisis presents opportunities, but only the “wonderful” companies are able to withstand the shocks associated with these crises and capitalise on the resulting opportunities. “That has been Guardian Group’s experience since our founding in 1847 — and especially over the past few years as we have navigated: once-in-a-century global pandemic; unprecedented impacts of climate change on catastrophe risk; and IFRS 17, considered by many to be the biggest change to the insurance industry in decades.” Almeida said that the Guardian Group, a company that provides insurance and risk management solutions as well as wealth management solutions across the Caribbean, sits at the intersection of these “once-in-a-generation” shocks. “The r...

    For the six months ended February 28, 2025, One on One Educational Services Limited reported revenue of J$169.9 million, up from J$111.4 million for the similar period in 2024. This represented a 52.5 per cent increase over the comparative period, which management said was primarily due to the expansion of One Academy, which provides personalized educational solutions for schools, teachers and students. Additionally, the company retained its core annual recurring business from existing contracts. For the second quarter of 2025, revenue reached J$78.0 million, reflecting a 37.6 per cent increase over the same period in the prior year. Management said that this growth was attributed to the expansion of One Academy and its ability to deliver personalized solutions through advanced technology, enhancing the accessibility and effectiveness of digital education. Direct costs for the second quarter amounted to J$22.5 million, an increase of J$4.5 million compared to the prev...

  Innovative Energy Group Limited (EIG, formerly Ciboney Group Limited) in its third quarter report indicates that the company signed a new Electric Golf Cart Dealership on February 21, 2025. The company states that IEG executed an exclusive dealership agreement with Tara Golf Carts, based in Xiamen, China, to market their electric golf carts in Jamaica and the wider Caribbean. The dealership will facilitate IEG’s deployment of PV Solar charging infrastructure for the golf carts sold by the company. The sale of electric golf carts falls under arrangements with f Innovative Energy Company DBA IEC SPEI Limited (IECL) which was acquired on August 26, 2024, when IEG entered into an agreement with the owners of Innovative Energy Company, DBA IEC SPEI Limited (IECL) – a related party – to purchase 100 per cent of its shares for a purchase consideration of US$17,746,443 (equivalent to J$2.8 billion). The acquisition gave IEG full control over all the assets, liabilities, and operations ...