Category: Finance

GraceKennedy Foundation Renews $11m Funding For Research

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The GraceKennedy Foundation has renewed funding for the Carlton S. Alexander Chair in Management Studies and the James Moss-Solomon Senior Chair in Environmental Management at the University of the West Indies (UWI).

The Chairs are respectively held by Professor Ian Boxill, who has been in the post since 2010, and Professor Mona Webber, who was appointed on October 1 this year.

During a forum held on November 22 at the Regional Headquarters at the UWI, both professors spoke about their research, community work, and their relevance to current problems being faced by the country.

Among Boxill’s research and contributions over the past year is a programme with the Sandals Group and Island Tours to identify ways of leveraging Jamaica’s attractions, improving the tourist experience, expanding linkages, and earning more revenue for the country. He has also conducted a needs assessment with the Jamaica Manufacturing Association to identify the areas where greater support is needed by the sector to increase its effectiveness. Manufacturing contributed 8.6 per cent to GDP in 2015.

Webber’s account of her research opened eyes and minds as she shared about the life-giving and, possibly, life-saving work her team is conducting under the sea.

She spoke about the impact of pollution on marine health and announced that she would be delving further into examining content found in the stomachs of fish found in Jamaica’s waters. Already discovered is that some fish are consuming toxic micro plastics. Her research will have far-reaching implication for the livelihood of fishermen and the health of consumers of seafood.

Each Chair is funded by the GraceKennedy Foundation at a value of $5.5. million per annum.

CENTRE FOR SOLUTIONS

Don Wehby, CEO of GraceKennedy Ltd, commended both professors on their work, while also thanking outgoing James Moss Solomon Snr Chair, Professor Dale Webber, who was recently appointed pro-vice-chancellor, graduate studies and research.

“The UWI must be known as a centre for solutions and a leader in promoting innovation and innovative thinking among its students – the future leaders of Jamaica. Education, after all, is the ultimate problem solver … I again restate GraceKennedy’s commitment to UWI as we see it as one of our ways of answering the future’s call,” Wehby said.

Professor Archie McDonald, principal of the UWI’s Mona campus, described the partnership between the GraceKennedy Foundation and the UWI as “the quintessential merger of big business and education”.

http://jamaica-gleaner.com/article/lead-stories/20161125/gracekennedy-foundation-renews-11m-funding-research

PwC donates to Haiti

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David Mair (second left), executive director of Food For The Poor, accepts a $250,000 cheque from PricewaterhouseCoopers (PwC) team members (from left) Leighton McKnight, Peter Williams, Recardo Nathan, Gali Moore, Damion Dodd, Rochelle Samuels, Shantel Biggs, Wendy Patrickson, Samantha Morris and Paul Cobourne. The cheque was donated to the organisation during a handover ceremony yesterday at the PwC head office at the Scotia Centre in downtown Kingston. This was part of the company’s larger corporate social responsibility programme, which aims to assist local charities and communities across Jamaica.

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David Mair (right), executive director of Food For The Poor, thanks the PricewaterhouseCoopers (PwC) team for their $250,000 donation to the organisation at a cheque handover ceremony yesterday at the PwC head office at the ScotiaCentre in downtown Kingston. This was part of the company’s larger Corporate Social Responsibility programme which aims to assist local charities and communities across Jamaica. The company said it will be deepening its Corporate Social Responsibility footprint in coming months. The PwC team (from left) are: Paul Cobourne, tax director; Leighton McKnight, territory leader; Rochelle Samuels, executive assistant; and Peter Williams, partner-assurance.

Source: http://www.jamaicaobserver.com/news/PwC-donates-to-Haiti_79072

CIBC donates $3.2m to Haiti relief

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CIBC FirstCaribbean International Bank announced on Friday that it has donated $3.2 million (US$25,000) to the Haiti Relief Fund to help the country recover from Hurricane Matthew, which hit the island on October 3, 2016.

Half of the sum, $1.6 million, was donated through Food For The Poor (FFP) Jamaica, which is working to distribute food and other supplies to Haiti. The other half, equivalent to BDS$25,000, was presented to the United Caribbean Trust (UCT) in Barbados to facilitate the purchase and distribution of water filters for the community tanks in the areas hardest hit by the hurricane.

The filters, which will be installed in schools, orphanages, prisons and churches, will give close to 1 million Haitians access to safe drinking water, the bank said.

CIBC FirstCaribbean, Managing Director, Nigel Holness said that the bank was “very concerned for the well-being of our neighbours in Haiti”, in spite of the fact that the bank does not operate in that island.

Speaking at the presentation of the cheque to Food For The Poor Executive Director David Mair, Holness said that FFP and UCT both have a respected history of relief work in Haiti, and that was one of the reasons his bank decided to enter the partnership.

He noted that “clean water, food and shelter are a major priority after a national disaster, and we are proud to do our part in ensuring our Haitian brothers and sisters are provided for”.

“CIBC FirstCaribbean must be applauded for their generosity,” said Mair, noting that the humanitarian response from Jamaica has so far resulted in over seven container shipments of canned food, water, and a host of non-perishable items.

Food For The Poor headquarters in Florida, he said, had shipped multiple amounts of relief items as well, and the organisation’s representatives in Haiti were focused on feeding and providing shelter for displaced Haitians and helping them develop sustainable incomes.

Source: http://www.jamaicaobserver.com/news/CIBC-donates–3-2m-to-Haiti-relief_78127

First Global Bank Using Technology For Banking Solutions

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Banking on the Go!  GraceKennedy Group CEO Don Wehby holds up a mobile phone to emphasise the ease of doing business on the go.  He was speaking at the official opening of First Global Bank’s Liguanea Branch on October 9, 2016.

FOR IMMEDIATE RELEASE

Kingston, Jamaica – Thursday, October 13, 2016: GraceKennedy Group CEO, Don Wehby has said relevant, cutting-edge technology is central to improving controls, drive operational standards and customer service across all subsidiaries.

According to Wehby, “Technology-based solutions are expected to reduce operating costs while providing convenience and value-added services to our customers.”

He was speaking on Sunday, October 9, 2016 at the official opening of First Global Bank Limited’s new Liguanea branch.

He highlighted some recent tech developments in several of the Group’s financial services companies including: multicurrency machines, interactive teller machines, a mobile banking app, internet-based solution at First Global; the roll out of GKGOnline at GK General Insurance Ltd; and the introduction of TeleSend and Deposit Direct at GraceKennedy Money Services. TeleSend makes money transfers via mobile phone and online functionalities possible, while Deposit Direct allows customers to receive remittances from overseas directly to their bank accounts.

Wehby believes one method through which GraceKennedy can continue to make worthwhile contributions to Jamaica’s growth, is through investing heavily in new technology.

“The Group has made significant investment in technology in all segments. This is expected to improve controls, drive operational efficiency and improve our customer service. We strongly believe that in addition to our hardworking staff members, we can continue to realise growth and success through using new technology as a business strategy that is in keeping with emerging trends and customer demands,” he affirms in an interview recently.

For years, the GraceKennedy Group has kept apace with new and advancing technology in all of its operations.

Wehby said within the GraceKennedy Group, First Global Bank boasts one of the major examples of how technology has totally revamped the operations of the entity.

He stated, “First Global Bank continues to be at the forefront of technology in the banking and financial services sector. Our hardware and software are continuously on the cutting edge and our human resources are second to none,” Wehby stated.

Wehby said the context of Jamaica’s social environment makes investment in technology essential as a way of reaching the unbanked, closing the digital divide and promoting financial inclusion.

“We note the steps being made by the Bank of Jamaica towards facilitating agency banking, with the latest element being the 2016 Banking Services Enforceable Code of Conduct. The sector is eager for all essential components to be put in place as, the convergence of both a sound structure to support and the technology to facilitate agency banking hold great potential for allowing more people to participate in regulated financial channels,” said Wehby.

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Source: http://jamaica-gleaner.com/article/news/20161024/first-global-bank-using-technology-banking-solutions

Tanto Blacks is Cash 4 Life face

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Celebrated dancehall ‘Real Rich’ sensation Tanto Blacks is named ambassador and the face of the 2016 staging of J Wray & Nephew Limited’s ‘Q is the Key to Cash 4 Life’ competition.

Blacks will be the main character in all advertisements of the competition, which will give players a chance to win up to $30 million in prize money over the next 14 weeks.

The entertainer, who is well known for promoting a cash-rich lifestyle and positive lyrics, will encourage lovers of J Wray & Nephew Ltd brands to enter ‘Q is the Key’ by purchasing certain 200 ml products and texting the codes on the back of the Q’s label to the contact number provided.

‘Q is the Key’ will be launched today will offer players myriad opportunities to win cash by purchasing Qs (200 ml) of either: Wray & Nephew White Overproof Rum, Charley’s JB Overproof Rum, Appleton Special or Campari.

Pietro Gramegna, marketing manager, J Wray & Nephew, said based on discussions, Blacks was selected to be Q is the Key to Cash for Life’s ambassador, because of his cash flow lifestyle that is in keeping with the goal of the competition.

Over the next 14 weeks there will be daily cash prizes of $10,000 and mobile phone credit and monthly cash prizes of $50,000, $100,000, $150,000, $250,000, and $500,000. At the end of January 2017, there will be a grand prize draw in which two lucky winners will be selected for the two prizes of $1,000,000 each year for the next 10 years.

Source: http://www.jamaicaobserver.com/entertainment/Tanto-Blacks-is-Cash-4-Life-face_77859