分类： business

In a landmark move to strengthen Jamaica’s fast-growing creative economy and integrate cutting-edge technology into cultural entrepreneurship, Kingston Creative has officially launched the Createch Incubator, a four-month specialized support program tailored for early-stage creative founders. The initiative aims to empower emerging entrepreneurs across Jamaica’s cultural sectors to build purpose-driven, technology-forward businesses by combining hands-on training, expert mentorship, and expanded regional networking opportunities.

Jamaica’s creative sector already stands as a major pillar of the national economy, contributing an estimated JMD $107 billion annually, equal to 5.1% of the country’s total gross domestic product. Against this backdrop, the Createch Incubator opens its doors to innovators across a wide spectrum of creative fields, including motion picture production, literary arts, visual arts, live performance, fashion design, handmade craft, music, and cultural festivals.

The program is implemented through Conecta Caribbean, an initiative of the CARIBEquity Facility that receives co-funding from the Inter-American Development Bank (IDB) Lab and the European Union. It forms part of a broader regional collaborative effort that unites entrepreneurship support organizations (ESOs) across 15 Caribbean nations, creating a unified cross-border incubation ecosystem for early-stage ventures.

Scheduled to run from July through November 2026, the program delivers structured training in core startup fundamentals: from identifying unmet market problems and conducting customer discovery to refining value propositions, designing scalable business models, and building long-term financial sustainability. A key distinguishing feature of Createch is its dedicated practical training in artificial intelligence and other emerging digital tools, equipping creative founders to embed innovative technology into their daily operations and long-term growth strategies.

The program will conclude with a high-stakes Demo Day pitch competition, where select participating graduates will present their developed ventures to an audience of investors, regional ecosystem partners, and industry stakeholders. Top contenders will win grant funding to accelerate the growth of their businesses.

Participation is completely free for all selected applicants, with a robust package of benefits included. Successful candidates gain access to one-on-one mentorship from seasoned business and creative professionals, full access to the Bridge for Billions digital entrepreneurship platform, a structured online curriculum, targeted capacity-building workshops, collaborative cohort learning sessions, and exclusive connections to a cross-regional network of fellow founders, investors, and ecosystem leaders.

Bianca Welds, the newly appointed head of projects and partnerships at Kingston Creative, emphasized the transformative potential of the initiative. “We’re excited to be a part of the Conecta Caribbean initiative, which is helping to standardize startup training across the region,” Welds said. “Createch is the only creative industry incubator in this cohort and Jamaican creatives will benefit tremendously from the regional reach of the programme.”

Applications for the 2026 Createch Incubator cohort are currently open to eligible early-stage creative entrepreneurs, with all submissions due by June 30, 2026.

Last October, Hurricane Melissa left widespread destruction across swathes of Jamaica, leaving the island’s business community grappling with unprecedented disruption to operations and supply chains. On Thursday, that same community gathered at Jamaica Pegasus hotel to celebrate the trailblazing organizations and entrepreneurs whose grit, creative problem-solving and decisive leadership have steered the country toward meaningful economic recovery in the storm’s aftermath.

Hosted by the Jamaica Chamber of Commerce (JCC), the 41st Annual Awards Banquet centered on the theme “Building Forward: Recognising Excellence in Recovery, Resilience & Growth”. The event shone a spotlight on honorees that did not merely adapt to the chaotic, fast-shifting post-disaster landscape, but emerged more competitive, operationally robust and well-positioned for long-term, sustained expansion across every major sector of Jamaica’s economy.

The evening’s keynote address was delivered by Jamaica’s Prime Minister Dr Andrew Holness, who earned rapt attention from the packed room of business leaders. Holness opened by commending the private sector for its unwavering commitment to national development in the wake of the crisis, before highlighting the critical role of the National Reconstruction and Resilience Authority (NaRRA) in unlocking opportunities for inclusive, long-term economic growth.

Holness emphasized that national reconstruction extends far beyond rebuilding damaged physical infrastructure, framing private sector participation as a core pillar of Jamaica’s transformed future. “As we advance the work of the NaRRA, all of the private sector entities in this room are part of that story,” he said. “Local contractors, engineers, suppliers, financiers and logistics operators who build capability through this process are not just serving the reconstruction. We would like you all to work in partnership with the Government to become the private sector infrastructure of a stronger Jamaican economy. That is the ambition — not to return to where we were [but] to arrive somewhere better.”

A centerpiece of the award ceremony was the inaugural Resilience In Action Honour, created to recognize individuals and corporate entities that stepped up with extraordinary leadership and community support to speed Jamaica’s recovery after the storm. This year’s recipients included Jaimie Ogilvie, Vice President at Jamaica Broilers Group Limited; management consultant Lisa Bell; Lisa Soares Lewis, founder and CEO of Great People Solutions; Olive Downer Walsh, Special Advisor for Government and Industry Affairs at Hardware & Lumber; and major corporate players Jamaica Public Service Company Limited, Digicel Jamaica, and FLOW Jamaica.

Multiple other awards were distributed to recognize excellence across diverse business categories and priorities. Sagicor Group Jamaica claimed the JCC CG United Marketing Excellence Award, which honors campaigns that deliver both public engagement and measurable impact, for its widely popular Sagicor Sigma Walk/Run initiative. The Best of Chamber Awards, which celebrate top performance across enterprise size segments, went to Joan Latty Realty (micro), EPIC Technologies (small), Allied Insurance Brokers (medium), Chas E Ramson (large), and Seprod Group (extra-large).

Additional honors included the JCC CARRERAS Environmental, Social & Governance (ESG) Award, which went to National Commercial Bank Jamaica Ltd; the Entrepreneur Award, presented to Chef Brian Lumley of Foodie Focused Limited; and the All-Star Award, granted to Janine Chen — JCC Vice President and Chair of the organization’s Pharmaceutical Subcommittee — for her years of extraordinary service and contributions to the chamber’s work.

In closing remarks, JCC President Emile Leiba reflected on the unique significance of this year’s ceremony, tying the achievements of the honorees to Jamaica’s broader post-disaster journey. “In the aftermath of Hurricane Melissa, businesses across the country were required to make difficult decisions, adapt quickly, and rethink how they operate,” Leiba said. “What we have witnessed since then is a remarkable commitment to strengthening systems, embracing innovation, and building greater resilience. Tonight’s awardees have demonstrated that recovery is not simply about returning to normal but about creating stronger, more sustainable organizations that are prepared for future opportunities and challenges.”

At a recent industry cocktail reception hosted by the West Indies Rum and Spirits Producers’ Association (WIRSPA) and the Spirits Pool Association (SPA) at Kingston’s Courtleigh Hotel & Suites, a top Jamaican trade official has made a forceful case for elevating the island’s iconic rum sector to its rightful place as a foundational driver of national and regional prosperity.

Delano Seiveright, Minister of State in Jamaica’s Ministry of Industry, Investment and Commerce, told assembled regional industry leaders that the rum sector is far more than a consumer beverage—it is an interconnected ecosystem that touches every corner of the Jamaican economy, from agricultural production to international tourism. Unlike common public perceptions that frame rum as simply a popular alcoholic drink, Seiveright emphasized that the Jamaican government views the industry as a strategic asset that delivers widespread benefits across agriculture, manufacturing, logistics, export revenue, intellectual property protection, rural employment, and national branding.

“Rum is one of the few products that tells Jamaica’s story every time it is poured anywhere in the world,” Seiveright told attendees, noting that the sector generated roughly US$57 million in export earnings alone in 2024, cementing its status as one of the country’s top export industries. Beyond trade, he added, the industry creates cascading economic opportunities for thousands of people across the island, supporting small-scale farmers, logistics providers, manufacturing workers, tourism employees, marketing teams, local retailers and entire rural communities.

A central focus of Seiveright’s remarks was the critical role of geographical indication (GI) protection for Jamaican rum, which he framed not just as an intellectual property measure, but as a core tool for equitable economic development. By enforcing GI rules, Seiveright explained, the country can ensure that key high-value stages of production—including ageing, bottling and quality control—remain anchored in Jamaica, retaining skilled jobs and greater economic value within the country rather than seeing them leak to foreign operators.

The minister also addressed ongoing industry concerns around taxation and global competitiveness, acknowledging the burdens of regulatory costs while contextualizing the government’s recent fiscal policy choices in the wake of major natural disaster. Hurricane Melissa caused an estimated US$12.2 billion in widespread damage across Jamaica’s critical infrastructure, and the government faces the delicate task of balancing the need for post-disaster reconstruction with support for competitive private enterprise. “Nobody welcomes additional taxes — Government included. But neither can Government ignore the need to rebuild homes, schools, roads, bridges and critical infrastructure, and balancing the books,” Seiveright said, adding that policymakers are working to strike a balance between competitiveness, reconstruction, sustainable growth and long-term fiscal responsibility.

Opening the event, WIRSPA Chairman Clement “Jimmy” Lawrence echoed Seiveright’s comments on the industry’s regional importance, noting that Caribbean rum is one of the region’s most globally recognized exports and a cultural ambassador for Caribbean heritage worldwide. Lawrence said that WIRSPA’s recent annual general meeting centered heavily on growing challenges facing the sector, from shifting global trade rules and market access barriers to evolving tariffs, supply chain disruptions, and changing regulatory requirements that impact regional exporters.

He warned that proposed adjustments to regional trade arrangements that affect the cost and availability of critical manufacturing inputs, including glass bottles and product labels, must prioritize export competitiveness and supply chain resilience to avoid undermining the sector. During the event, Lawrence officially launched WIRSPA’s 2024 sustainability report, which outlines the industry’s ongoing progress in embedding environmental stewardship, community investment and responsible business practices across all levels of regional production.

The highlight of the evening’s program came as organizers presented a lifetime achievement award to Dr. Joy Spence, the world-renowned Jamaican master blender, in recognition of her decades-long contributions to advancing the profile of Jamaican and Caribbean rum globally. Accepting the honor, Spence paid tribute to generations of Caribbean distillers, blenders and product innovators who built the sector’s global reputation for quality and authenticity, and credited WIRSPA with unifying the regional industry to secure international recognition for its products.

“WIRSPA has ensured that what we produce in this region is recognised and respected worldwide as being authentically Caribbean,” Spence said, adding that Jamaican rum remains inseparable from the country’s national heritage and cultural identity.

KINGSTON, Jamaica — Jamaica’s cost of living pressures accelerated sharply in May 2026, pushing the country’s annual inflation rate up to 5.4% as households faced steeper bills for staple groceries, restaurant dining, utility services and transportation, official data released by the Statistical Institute of Jamaica (Statin) shows.

The month-over-month consumer price jump came in at 1.5% in May, marking a complete reversal of the 0.3% contraction recorded in April and representing the steepest single-month increase in consumer costs since November 2025. This upward shift pushed the 12-month inflation rate — measured between May 2025 and May 2026 — up from the 4.3% reading recorded in April. While the current figure still falls within the Bank of Jamaica’s official target band of 4% to 6%, it now sits uncomfortably close to the upper limit of the central bank’s tolerance range.

Food inflation emerged as the dominant force behind the overall price increase. The Food and Non-Alcoholic Beverages category registered a 1.9% monthly price jump, fueled almost entirely by sharp increases in locally grown fresh produce. Key staples including tomatoes, cabbage, carrots, ripe bananas and pineapples all saw double-digit proportional increases over the month, pulling the overall index for vegetables, tubers, plantains, cooking bananas and pulses up 4.8%. The fruit and nuts subcategory rose even faster, posting a 4.7% monthly increase. Smaller but still notable increases were recorded for fish and seafood (1.2%) and meat products (0.9%).

Beyond grocery shelves, Jamaican consumers also faced significant price hikes when dining out. The Restaurants and Accommodation Services segment saw a 5.7% monthly surge, with the overwhelming majority of this increase traced to higher costs for meals purchased away from home.

Housing and utility costs also contributed to the upward trend. The Housing, Water, Electricity, Gas and Other Fuels division recorded a 0.7% monthly increase, driven largely by elevated electricity rates. This upward pressure was partially offset by a temporary reduction in water supply and sewage service charges across much of the country.

Transportation costs added another layer of pressure to household budgets, rising 0.9% month-over-month. The increase stemmed from higher retail petrol prices and a 3.1% jump in the ongoing cost of operating private passenger vehicles.

The inflationary increase impacted all regions of Jamaica, but rural households bore the brunt of the price hikes. Statin data shows rural areas recorded a 1.7% monthly inflation rate, outpacing the 1.5% increase seen in other urban centers and the 1.3% rise in the densely populated Greater Kingston Metropolitan Area.

Over the 12-month period ending in May 2026, cumulative food price inflation reached 8.7% — far outpacing the overall headline inflation rate of 5.4%. The most dramatic annual increase was recorded in the fruit and nuts category, which has soared 34.3% over the past year. Vegetables, tubers, plantains, cooking bananas and pulses have risen 10.4% year-over-year, while fish and seafood prices are up 11.7% from May 2025. Annual price increases for the Restaurants and Accommodation Services segment hit 6.9%, while transportation costs are up 3.1% over the same period.

Notwithstanding the sharp May increase, Statin noted that the overall consumer price index remains 0.2% lower than its peak level in December 2025, a residual effect of broader price declines recorded in the first months of 2026. In absolute terms, the All-Jamaica Consumer Price Index rose to 149.6 in May, up from 147.4 in April.