分类： business

In a landmark address at the Jamaica Stock Exchange conference, Prime Minister Andrew Holness unveiled a transformative economic strategy signaling a decisive pivot from Jamaica’s post-crisis policies of the past quarter-century. The comprehensive vision encompasses energy sector reform, financial regulatory modernization, and enhanced regional integration to position Jamaica for sustained growth in a volatile global landscape.

The government has initiated critical negotiations with the Jamaica Public Service Company (JPSCo) ahead of its license expiration in 2027, targeting substantial reductions in electricity costs through expanded renewable energy capacity and improved grid resilience. This energy initiative forms a cornerstone of Jamaica’s productivity enhancement agenda, particularly crucial for small island economies facing disproportionate energy constraints.

Most significantly, Prime Minister Holness articulated a fundamental philosophical shift in financial regulation, arguing that Jamaica’s post-Finsac framework—originally designed for risk containment—must now evolve to enable opportunity and innovation. Emphasizing that regulatory frameworks shouldn’t be ‘frozen in time,’ he proposed recalibrating financial architecture to support expansion while maintaining stability as a ‘non-negotiable’ foundation.

This regulatory modernization is justified by Jamaica’s dramatically improved macroeconomic position, characterized by substantially reduced public debt, robust external reserves, and credible fiscal anchors. The prime minister noted that Jamaica’s deeper, more sophisticated capital markets now require regulations aligned with evolving risk profiles and financial innovation, advocating for ‘smart regulation’ that unlocks capital while preserving financial soundness.

Concurrently, Jamaica is asserting leadership within regional economic forums, recently standing out as the only CARICOM nation highlighted at the International Investment Forum in Panama—the region’s equivalent of Davos. Former Inter-American Development Bank executive Gerard Johnson observed that Jamaica’s ministers effectively showcased the nation’s successful risk management policies and recovery strategies from external shocks.

The forum highlighted both challenges and opportunities for Latin American and Caribbean (LAC) nations, which risk being left behind due to slow growth, low productivity, and high debt vulnerability. Prime Minister Holness joined regional leaders in calling for reduced trade barriers and new economic alignments, particularly relevant for CARICOM’s Single Market and Economy, which may require reassessment to ensure it doesn’t hinder diversification and sustainable growth.

This comprehensive economic repositioning occurs against a backdrop of what academics term a ‘global polycrisis’—where climate events, geopolitical tensions, supply-chain disruptions, and financial volatility overlap and reinforce one another. Jamaica’s strategy represents a proactive adaptation to this fractured global environment, seeking to transform stability into a platform for expansion rather than treating it as a developmental ceiling.

KINGSTON, Jamaica — Jamaica’s automotive industry has reached a significant milestone with the formal integration of electric vehicle specialization into its established trade framework. Flash Motors Company Limited has been admitted as the first exclusively electric vehicle dealership within the Automobile Dealers Association of Jamaica (ADA), signaling a transformative shift in the Caribbean nation’s transportation landscape.

This groundbreaking membership, announced Tuesday, represents a strategic alignment between emerging electric mobility solutions and Jamaica’s conventional automotive sector. The development reflects accelerating regional adoption of sustainable transportation alternatives within previously fuel-dominated markets.

Xavier Gordon, Chief Executive of Flash Motors, expressed enthusiasm about the collaboration: “Our ADA membership signifies industry recognition of electric mobility’s critical role in Jamaica’s transportation future. We value the association’s endorsement as we expand EV infrastructure throughout the Caribbean region.”

ADA Chairman Jackie Stewart-Lechler confirmed the association’s commitment to embracing automotive innovation: “We enthusiastically welcome Flash Motors and applaud their introduction of cutting-edge electric mobility solutions for Jamaican consumers. Their expertise strengthens our industry’s evolution toward sustainable transportation.”

Established in 2021, Flash Motors has developed comprehensive electric vehicle ecosystems across multiple Caribbean markets including Jamaica, St. Lucia, and Guyana. The company’s integrated approach encompasses EV sales, charging infrastructure development, and supportive policy advocacy.

Operating from a modern New Kingston showroom, the dealership provides holistic customer solutions beyond traditional vehicle sales. “Our commitment extends far beyond placing EVs in driveways,” explained Sales Manager Phillip Oliver. “We install personalized charging infrastructure and implement ongoing owner education programs to ensure optimal EV ownership experiences.”

The company maintains rigorous technical standards through international training programs, sending technicians abroad for certification in global EV maintenance protocols. This commitment to excellence aligns with ADA’s framework emphasizing accountability, transparency, and consumer protection standards.

This institutional partnership establishes formalized retail standards for Jamaica’s emerging electric vehicle market, creating regulatory consistency while accelerating sustainable transportation adoption across the Caribbean region.

Jamaica’s remittance landscape is undergoing significant transformation as new data from the Bank of Jamaica reveals both substantial financial growth and structural consolidation within the industry. According to the latest Remittance Bulletin published by the central bank, November 2025 witnessed remarkable growth in net remittance inflows, which surged to US$281.2 million – representing a robust 14.2 percent increase compared to the same period in the previous year.

The impressive performance was primarily fueled by heightened activity through formal remittance companies, though partially tempered by an accompanying rise in outbound transfers. Cumulative figures for the current fiscal year demonstrate sustained growth, with net inflows reaching US$2.17 billion, marking a 2.8 percent year-over-year increase. Total incoming remittances grew by 2.9 percent, while outflows experienced a more pronounced uptick of 5.3 percent.

Parallel to these financial developments, the industry’s operational framework is evolving dramatically. The number of active remittance locations contracted significantly from 514 in 2023 to 492 in 2024, indicating a trend toward market consolidation. This restructuring is further evidenced by licensing patterns: revoked or relinquished licenses nearly doubled to 83 from 46 year-over-year, while new licenses issued plummeted from 132 to 67. Complete 2025 structural data remains pending publication.

From January through November 2025, total remittance inflows reached US$3.15 billion, maintaining a steady 3 percent annual growth rate. This performance positioned Jamaica favorably against regional counterparts, with some Central American nations experiencing stronger growth while Mexico recorded declines.

The United States continues to dominate as Jamaica’s primary remittance source, accounting for 66.9 percent of total inflows in November – though slightly diminished from previous levels. The United Kingdom, Canada, and the Cayman Islands followed as significant contributors.

Remittances remain a cornerstone of Jamaica’s economy, providing crucial foreign exchange equivalent to approximately 15 percent of GDP, nearly 80 percent of tourism earnings, and exceeding 180 percent of export values, according to the central bank’s macroeconomic indicators.

KINGSTON, Jamaica — Tropical Battery Company Limited has formally requested and received authorization to postpone the submission of its audited financial statements for the fiscal year concluding September 30, 2025. The Jamaica Stock Exchange (JSE) was notified on Wednesday that the revised deadline for filing has been established for February 16, 2026.

The corporation attributed this deferral to complexities arising from independent third-party assessments of its employee pension fund. These evaluations require meticulous scrutiny and subsequent actuarial recalculations, processes the company deems essential for guaranteeing the utmost precision in its financial disclosures. The initial publication date for these statements was set for November 29, 2025.

Consequently, the release of the company’s comprehensive annual report, which is predicated on the finalized audited data, will be similarly delayed. Stakeholders can now anticipate its dissemination on or around February 18, 2026, a significant extension from the original target of January 28.
In its official communication, Tropical Battery emphasized that its internal finance team is collaborating intensively with external auditors and specialized actuarial consultants to meet the new schedule. The company’s leadership expressed confidence in fulfilling all regulatory obligations within the allotted extension period.

The JSE disclosure concluded with a firm reassurance from the company: “Tropical Battery Company Limited reaffirms its full commitment to transparency, regulatory compliance and the delivery of reliable information to its shareholders and the investing public.”