BELMOPAN, Belize (CMC) — The Caribbean Regional Fisheries Mechanism (CRFM) has announced that four Caribbean nations—Anguilla, The Bahamas, Dominica, and Montserrat—have officially formalized their membership in the 22-year-old organization. The signing ceremony took place during the Caribbean Week of Agriculture held recently in St Kitts and Nevis. Established in March 2003 in Belize, the CRFM now boasts 17 member states actively engaged in the sustainable management of regional fisheries. Dr. Marc Williams, CRFM Executive Director, emphasized the organization’s commitment to meeting member needs with available resources while addressing governance and financial challenges. He highlighted key policies such as the Caribbean Community Common Fisheries Policy (CCCFP), which facilitates collaborative scientific research, fish stock assessments, and sustainable fisheries management. Additionally, the CRFM has implemented policies like the Personal Data Protection Policy, Anti-Bribery and Anti-Corruption Policy, and Whistleblower Policy to enhance governance and transparency. Dr. Williams also noted the CRFM’s focus on gender sensitivity and inclusivity, ensuring that initiatives consider the needs of youth and indigenous communities.
博客
-
Digicel steps up turnaround under new CEO after debt restructuring
Digicel, the Caribbean-based telecommunications giant, is undergoing a significant transformation under the leadership of its new CEO, Marcelo Cataldo. Appointed in early 2024, Cataldo, a seasoned executive with a background at Millicom, is steering the company toward financial stability and growth after years of grappling with substantial debt. Founded in 2001 by Irish entrepreneur Denis O’Brien, Digicel expanded rapidly across 25 markets in the Caribbean, Central America, and the Pacific, but its aggressive growth strategy left it burdened with a debt load that once peaked at $7 billion. Following a 2022 debt-for-equity swap that reduced its liabilities by $1.7 billion, the company has successfully refinanced its remaining obligations, bringing its total debt down to approximately $2.7 billion. Cataldo’s strategy focuses on three key areas: enhancing mobile services, expanding fibre-optic networks, and boosting enterprise solutions. With 10 million customers across its markets, Digicel aims to transition users from feature phones to smartphones, thereby increasing average revenue per user (ARPU). The company also plans to extend its fibre network, which currently reaches about 900,000 households, with significant expansions underway in Guyana and Curaçao. Additionally, Digicel is leveraging its expertise in ICT solutions, including cloud computing and data centers, to strengthen its enterprise services. Cataldo emphasized the importance of collaboration with regulators to accelerate digital adoption in the region. Despite challenges such as stagnant population growth in the Caribbean and the high cost of smartphones for many households, Cataldo remains optimistic about Digicel’s ability to drive digital transformation and achieve long-term growth. The company’s recent partnership with Caban Energy to provide clean power for its operations in Jamaica underscores its commitment to sustainability. Cataldo concluded that while it is still early in his tenure, Digicel is on track to meet its financial targets and deliver on its promises to stakeholders, positioning itself as a key player in connecting the Caribbean to the digital world.
-
VMIL anchors regional expansion in Barbados, pivots to private equity and assets
VM Investments Limited (VMIL), a subsidiary of VM Financial Group Limited, is charting a bold course for regional expansion, leveraging its Barbados operations as a springboard for broader Caribbean growth. The company’s 2024 annual report underscores a strategic pivot toward private equity and asset management, alongside its traditional wealth management services, as it seeks to navigate evolving market dynamics and secure sustainable yields in a competitive landscape.
-
Parliament power struggle
A heated debate unfolded in Jamaica’s House of Representatives on Tuesday as Government and Opposition legislators clashed over the appointment of chairs for Parliament’s sessional committees. The controversy stemmed from a motion introduced by Leader of Government Business Floyd Green to name committee members, reigniting a long-standing dispute over the separation of powers and transparency in governance.
-
Ras-I celebrates a wonderful 2025
Reggae artist Ras-I is celebrating a landmark year in his musical career, marked by significant achievements and exciting new projects. His 2020 hit single, ‘Somewhere Wonderful,’ was chosen as the official soundtrack for the Jamaica Tourist Board’s 2025 Easter campaign, a milestone that underscores the song’s enduring appeal and cultural resonance. Now, Ras-I is gearing up for the release of a new single, ‘Rastafari in Charge,’ featuring Munga Honourable, and is also preparing an album set for 2026.
In an interview with the Jamaica Observer, Ras-I expressed his satisfaction with the trajectory of his career. ‘Everything has been happening in perfect timing,’ he said. ‘I am happy that my career is moving in the right direction so I can show the youths that hard work and consciousness really do pay off.’
Ras-I’s philosophy as an artist is deeply rooted in creating music that stands the test of time. Inspired by advice from legendary Jamaican singer Beres Hammond, he is committed to producing content that will remain relevant for decades. ‘As artistes, we’re not making music just for us. Once we press that button and release it, it’s no longer just for us; it’s for the people,’ Ras-I explained. ‘I decided not to follow trends but to sing what’s in my heart, and so everything you hear from me is made out of good vibes and good energy.’
This approach has clearly paid off, as ‘Somewhere Wonderful’ continues to resonate with audiences worldwide, even five years after its release. ‘To create something that was so culturally great that it got the support of corporate was everything to me,’ Ras-I said. ‘The track transcended all limits because it was so relatable. The common man loved it because we all wanna go wonderful places, and we’re equally tired of being misunderstood.’
Ras-I’s latest collaboration with Munga Honourable, ‘Rastafari in Charge,’ is a testament to the power of intergenerational partnerships in the music industry. The track, which blends the talents of a seasoned artist with a rising star, has been well-received, and its accompanying music video has further boosted its popularity. ‘This track shows a connection with one of the more established and legendary artistes and the new crop of reggae and dancehall artistes, and it’s a feel-good vibe,’ Ras-I noted. ‘The message is conscious as always with my songs, and it’s just all about positivity and upliftment.’
Reflecting on the collaboration, Ras-I praised Munga’s professionalism and dedication. ‘Munga came early, helped set up, and to me that was something special,’ he said. ‘I said to myself, this is how big artistes should work with younger artistes and help to filter in so we can help maintain the relevance.’
Ras-I also addressed the broader narrative around older artists working with younger ones, emphasizing the importance of maintaining standards while allowing for creative freedom. ‘Sometimes people say the standard drops, but that’s not it at all. The disconnect comes from ‘It’s not what you say but how you say it,’’ he explained. ‘We have to maintain standards, but we also have to allow the artistes to be the artistes.’
As ‘Rastafari in Charge’ continues to gain momentum, Ras-I is already looking ahead to his next big project: an album set for release in 2026. While he remains tight-lipped about the details, he assured fans that the creative process has been smooth. ‘We’re putting together the album, and that’s all I will say. It’s been five years,’ he shared. ‘It’s been so smooth because the hardest part of putting an album together is never the creative side, it’s the business side, the paperwork. But definitely, 2026 it’s coming.’
With his unwavering commitment to quality and his ability to bridge generational gaps, Ras-I is poised to leave an indelible mark on the reggae music scene.
-
S&P revises outlook to positive on NCB
S&P Global Ratings has revised its outlook for NCB Financial Group (NCBFG) and its primary banking subsidiary, National Commercial Bank Jamaica (NCBJ), from ‘stable’ to ‘positive’. This adjustment indicates a heightened likelihood of credit rating upgrades for both entities within the next one to two years. While S&P has maintained the current ratings of ‘BB-‘ for NCBJ and ‘B-‘ for NCBFG, the shift in outlook is closely tied to Jamaica’s improved national credit rating, which was upgraded last month. The agency commended the Jamaican government for its disciplined fiscal management and debt reduction efforts, which have strengthened the country’s financial stability and its ability to support the banking sector. Additionally, S&P highlighted the resilience of Jamaica’s economy, driven by robust tourism revenues and remittances, which have bolstered foreign reserves and stabilized the Jamaican dollar. The economy is projected to grow by 2% this year, fostering a more stable environment for banks. NCBJ, Jamaica’s largest bank, was praised for its diverse service offerings, while NCBFG was recognized for its diversified business portfolio, including its ownership of a major insurance company. However, S&P cautioned that NCBJ’s non-performing loans, though manageable, remain elevated compared to pre-pandemic levels, and NCBFG’s Bermuda subsidiary carries higher-risk loans tied to tourism and construction. The agency also noted that any stagnation in Jamaica’s economic progress could revert the outlook to ‘stable’.
-
Lasco lines up new plant for year-end sales rush
Lasco Manufacturing Limited, renowned for its iCool brand, is set to enhance its production capabilities with the installation of a new Italian processing and filling plant at its White Marl, St Catherine facility. This strategic move, expected to be operational within the next three months, aims to increase beverage output by 40%, just in time for the high-demand festive season. The initiative is part of a comprehensive $1.1 billion retooling program extending through 2026, as confirmed by Director Vincent Chen during the company’s annual general meeting. Chen emphasized that the investment is a pivotal step in driving efficiency, reducing costs, and expanding export opportunities, stating, ‘We’re not sleeping; we’re actively seeking ways to grow.’ The retooling effort comes amidst a challenging financial landscape. For the fiscal year ending March 2025, Lasco reported a modest 3% revenue increase, a significant drop from the 18.6% growth recorded two years prior. Net profit, however, edged up 8% to $2.2 billion. The first quarter of the new financial year saw a 10% decline in sales revenue to $2.92 billion, with net profit dipping to $618.3 million from $701.7 million in the previous year. Deputy General Manager Lisa Watt attributed the softer performance to local market contraction and global economic pressures. The company’s expansion strategy is designed to fortify its position in the competitive fast-moving consumer goods sector, both domestically and internationally. Last year, Lasco secured a partnership with a major US retailer, marking a significant step in broadening its distribution beyond the Caribbean diaspora. While details of the agreement remain undisclosed, executives view it as a cornerstone of their export growth strategy. Lasco’s diverse product portfolio, ranging from powdered foods to beverages, continues to drive its market presence. Watt highlighted the necessity of retooling aging equipment to enhance efficiency and asset returns, noting that the new plant will significantly boost productivity and support innovation. Despite shareholder concerns over declining revenue growth and asset returns, Watt reassured stakeholders that the retooling program, coupled with product innovation and export expansion, will restore double-digit growth. Additionally, Lasco plans to invest in compressors, pumps, and an expanded ozonation system to further reduce costs and improve quality, reinforcing its resilience against supply chain disruptions and geopolitical uncertainties. The company has allocated $1.1 billion for capital investments from 2024 to 2026, with $425 million already spent in the past fiscal year.
-
Relief and regret
Jamaica’s Health and Wellness Minister, Dr. Christopher Tufton, has been exonerated by the Integrity Commission (IC) regarding allegations of involvement in the awarding of a $15-million contract to the communications agency Market Me. The IC’s investigation, which spanned over five years, concluded that there was no evidence of direct involvement by Tufton in the procurement process. However, the commission noted that his introduction of Market Me to the ministry could have indirectly influenced the contract awards, totaling $78.5 million over four years. The IC also highlighted procurement irregularities, particularly the use of direct contracting methods, and recommended stricter adherence to procurement laws. Tufton expressed relief at the findings, stating that they vindicate his integrity and allow the public to understand the facts clearly. He also emphasized the success of the Jamaica Moves campaign, which aimed to reduce non-communicable diseases, and apologized for the reputational damage caused to non-political actors involved in the controversy. Market Me, in its response, affirmed its commitment to integrity and professionalism, expressing readiness to continue serving its clients.
-
RED STICKER REALITY
In the aisles of supermarkets, bright red stickers promising ‘special offers,’ ‘value packs,’ and ‘buy one, get one free’ deals are a common sight. For many shoppers, these promotions are a welcome relief during tough economic times. However, a closer look reveals that not all deals are as they seem. A recent mini-poll conducted by the Jamaica Observer highlighted mixed experiences among consumers. While some shoppers found genuine value in these promotions, others encountered products nearing their expiry dates or even infested with bugs.
-
Sandals to pay $42m for lands at Mt Wynne
Prime Minister Ralph Gonsalves of St. Vincent and the Grenadines has unveiled key details of a confidential agreement signed with Sandals Resorts International for the construction of a Beaches resort at Mt Wynne. The deal, finalized on Monday in Buccament Bay, includes stringent confidentiality clauses covering all past and future negotiations, with limited exceptions for managerial staff, contractors, and legal representatives. The government has committed to registering and disclosing investment incentives to Parliament, ensuring transparency. Sandals will invest EC$41.66 million in acquiring 51 acres of land, marking a significant financial commitment. The resort, designed as a 500-room, family-oriented, all-inclusive hotel, will require a $500 million investment, equating to $1 million per room. The agreement prioritizes local procurement of agricultural goods and seafood, with duty-free concessions for imports only when local products are unavailable or insufficient. Gonsalves emphasized the government’s streamlined work permit system and mandated that at least 50% of construction workers be Vincentians. The project is expected to create 1,700 jobs, with 70% reserved for locals, and will proceed in phases, beginning with 350 rooms. Gonsalves highlighted the broader economic benefits, including job creation, tourism growth, and VAT revenue, while addressing concerns about non-national workers by stressing the international nature of the resort and the Caribbean-wide employment opportunities it provides.