Prime Minister Andrew Holness is encouraging Jamaicans to buy shares in public companies.
Speaking at the 50th anniversary of the Jamaica Stock Exchange Regional Investments & Capital Markets Conference last night (Tuesday, January 22) at the Jamaica Pegasus Hotel, the Prime Minister said the average Jamaican should own shares in public companies.
Alluding to energy company Wigton Wind Farms, Prime Minister Holness said the Government has been careful in crafting its placement on the market and encourages all to own a part of the company by owning shares.
“I am encouraging Jamaicans to buy shares in these public companies when they are placed on the Stock Exchange so that they can own some of these assets and share in the capital gains and in the profits of these assets when these companies are listed,” said Prime Minister Holness.
The Prime Minister further emphasised that the Government’s intention is to ensure that shares are broadly held and that the average Jamaican can participate in buying stocks.
In that regard, the Prime Minister also implored all Jamaicans to participate and support the new market which was launched last night.
The Jamaica Stock Exchange launched the Social Enterprise Stock Market. This is an additional market under JSE and will join the main market, the junior market and the US dollar market which are trading stock daily.
“I’m certain that the Agency for Inner-city Renewal, AIR, Alpha School of Music, Choose Life International, DeafCan Coffee and Praise Jamaica, these are the five companies which you could describe them as social enterprises that have been vetted by the Jamaica Stock Exchange, approved to be listed; that these companies are good entities which [you can] put your philanthropic giving and I endorse this. I encourage all Jamaicans to participate by giving to these companies,” said Prime Minister Holness.
In the meantime, the Prime Minister underscored the importance of having a robust stock market that can be used to address social and public interests as it ensures that each enterprise meets certain standards of accountability in both fiduciary and governance.
The Jamaica Stock Exchange Investments and Capital Markets Conference is being held under the theme “Expanding our borders: securing our future” and comes to an end on Thursday, January 24.