Finance: IFC sees "Green"; Jamaican accountant gets top regional post

Judith Green, Jamaican accountant based in Kingston, has been appointed the World Bank Group's head of operations for the International Finance Corporation's (IFC) program for investments and advisory services in the English-speaking Caribbean, including Belize, Grenada, Guyana, Jamaica, St. Lucia, Suriname, and Trinidad and Tobago.

In addition, Green — a certified chartered accountant — will also manage IFC’s relationships with regional governments, donors and private sector stakeholders.

“Judith brings tremendous professional experience and a deep knowledge of the Caribbean market,” said Luc Grillet, IFC’s senior manager for Central America and the Caribbean. “Through her leadership, we look forward to continuing our strong track record in the region, serving our clients and providing opportunities where they are needed most.” [. . .]

Green, who will be based in Jamaica, joined IFC in 2011 as a senior investment officer tasked with identifying business opportunities and actively managing portfolio projects in Jamaica. I look forward to working with our long-term partners and forging new relationships, both with the private and public sectors, that support this region’s tremendous potential,” Green said

Business: Its Two (in a Row) for NCU

JarGro, a smart appliance created to support the production of foods using natural LED plant light, and a built-in irrigation system (aeroponics), earned Northern Caribbean University their second consecutive victory in the National Business Model Competition at the Jamaica Conference Centre yesterday. Last year's winner Herboo, went on to place 8th (and best non-US team) at the international business model selection in the western US state of Utah.

Team members Colin Thorpe, David Smith and Craig Campbell walked away with a cheque of J$2 million and will be entering the international level of the competition in Utah, United States, in May.

The University of Technology team, Feevr, placed second, while NCU's Vitae came in third. The teams were awarded J$1 million and J$500,000, respectively, which will be used to assist in converting their business models into reality.

Digital Farms and Genius Software Programs and Electronics shared the fourth place prize of J$200,000.

The JArGro system, aimed at urban dwellers faced with serious space restrictions, uses 98 per cent less water and 70 per cent less fertilizer along with various sensors which enables it to process and act.

The system replicates the natural way plants grow thus providing all the attributes for the plant to strive and is built around a minimalistic concept that enables it to fit in one kitchen.

The NBMC is specially designed to encourage and promote the creative and innovative thinking of local students. It facilitates entrepreneurial skills and enhances collaboration and communication between the private sector stakeholders and education.

The competition is presented by the Development Bank of Jamaica, in association with the IDB, National Commercial Bank, GK Capital, Pan-Jam, the PSOJ, the ICD Group and US-based Alta Ventures.

Business: The 2-billion dollar Business meeting

In actual fact, it was many meetings, as facilitated by the FIRM (short for Financial Information and Real-time Matchmaking) Expo, held recently at the Jamaica Pegasus.


Convenor Joseph Cox confirmed that 1.94 billion in confirmed investment matches had been facilitated. Speaking to the Jamaica Observer post-event, he said that the expo was designed to alleviate some of the problems associated with accessing financing, and gave 26 local entrepreneurs the opportunity to pitch their business plans to a panel of potential investors.

At the end of each pitch, the investors were required to complete a 'review sheet' which indicated if there was a 'definite match', 'need for further talks', or 'no interest'.

Once a match was identified or interest indicated, contingent on further talks, then the matter became a third-party issue between the investor and the pitcher. 

Initially, over 48 entrepreneurs had registered online to participate, with the final number of businesses that made their pitches being selected after a series of capacity-building workshops.

"After participating in the workshops, a number of them [businesses] also opted to differ their pitch, in an effort to further refine their business plans," Cox said.

"Currently, domestic credit in Jamaica is less than 35 per cent of Gross Domestic Product (GDP), which is well below international benchmarks. This points to difficulty in accessing credit and is reflective of inadequate funding for investments and entrepreneurial activities, which, in part, is occasioned by an information deficit," Cox said at the launch.

FIRM is a collaborative effort between the Development Bank of Jamaica (DBJ) and the PIOJ, and aims to assist people with viable business ideas, or existing businesses that are under-funded and lack the requisite collateral or market information to access financing for their ventures.

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Greed Is.....Not too bad; Wall Street 2 is a decent investment

Its nearly 2 decades since "Wall Street" chronicled the excesses of the go-go 80s, and the more things change..... well, you know the rest.

Former Wall Street trader Gordon Gecko is sprung from prison, but no one shows up for him. Meanwhile, his estranged daughter is about to marry Jakob Moore (Shia Lebouf, redeeming himself from the execrable Transformers movies), who is Gecko for the 21st century, except that he has a conscience...kind of.

Gecko forms an alliance with her fiance Jacob, and Jacob begins to see him as a father figure. But Jacob learns the hard way that Gecko -- still a master manipulator and player -- is after something very different from redemption.

there's little that's really remarkable about this sequel, except of course that the "art-imitates-life-imitates art" circle is repeated. In this instance, the spectacular fall of lehman Brothers is mirrored in the movie firm Keller Zabel, complete with a Depression-era suicide by the ruined CEO (neatly played by Frank langella).

Indeed, its the acting that stands out in Wall Street 2, and Stone has toned down much of the misplaced profligacy that marred his earlier features.