High com­mis­sioner-des­ig­nate en­cour­ages in­vest­ment

Jamaica Gleaner - - NEWS -

“THE JA­MAICA Stock Ex­change (JSE) pro­vides an ideal op­por­tu­nity for mem­bers of the Jamaican di­as­pora to help Ja­maica while help­ing them­selves. It’s a win-win for­mula that makes so much sense,” said Ge­orge Ramo­can, high com­mis­sioner-des­ig­nate to the United King­dom (UK), as he met with se­nior of­fi­cials at the JSE yes­ter­day.

Ramo­can, who has been mak­ing the rounds as he pre­pares to de­part for Lon­don, where he will take up the post as Ja­maica’s head of mis­sion to the UK and sev­eral other Euro­pean coun­tries, met with of­fi­cials at the JSE at their Har­bour Street, Kingston, of­fices.

Among the key is­sues ex­plored was the need for a greater push for in­vest­ment from mem­bers of the Jamaican di­as­pora. Ramo­can said he in­tends to make the case for greater lev­els of in­vest­ment dur­ing his ten­ure, cit­ing the fact that trad­ing in lo­cal stocks and bonds rep­re­sents the eas­i­est and most di­rect way for mem­bers of the di­as­pora to in­vest in Ja­maica.


The for­mer con­sul gen­eral said there are many in­di­vid­u­als in the di­as­pora who are look­ing for vi­able in­vest­ments to re­place the low in­ter­est rates they earn on sav­ings and pension schemes and there could be no bet­ter op­por­tu­nity than the JSE, which was ranked num­ber one in the world in 2015. En­cour­ag­ing mem­bers of the Jamaican di­as­pora to be­come part-own­ers of Jamaican com­pa­nies through the stock mar­ket, he said, is cen­tral to the na­tional eco­nomic growth ob­jec­tive. Deputy Gen­eral Man­ager at the JSE Robin Levy said the JSE stands ready to work with the High Com­mis­sion to sen­si­tise the di­as­pora and to take the lead in guid­ing po­ten­tial in­vestors on how to en­gage with the mar­ket’s on­line trad­ing plat­form. He said: “We are truly grate­ful that you have seen this as an area of pri­or­ity need. We want to go fur­ther to en­cour­age Jamaican and Caribbean busi­nesses in the UK to be­come listed on the Ja­maica Stock Ex­change as a way to raise cap­i­tal to sta­bilise and grow their op­er­a­tions.” Ramo­can will be­come Ja­maica’s 13th high com­mis­sioner to the UK, suc­ceed­ing Am­bas­sador Aloun N’Dom­bet As­samba, who com­pleted her tour of duty ear­lier this year.


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