Candice Stewart

Jamaica is now compliant or largely compliant with 27 of the Financial Action Task Force’s (FATF) 40 recommendations. The Financial Action Task Force is the global money laundering and terrorist financing watchdog. “[This is] a substantial improvement over compliance or partial compliance with only 17 out of 40 FATF Recommendations in our mutual evaluation which was undertaken in 2015 and published in 2017,” Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, pointed out. The Minister was delivering a statement in the House of Representatives on January 19. Dr. Clarke explained that Jamaica’s mutual evaluation report against the International Standards on Combatting Money Laundering and the Financing of Terrorism and Proliferation (FATF 40 Recommendations) was done in 2015 by the Caribbean Financial Action Task Force (CFATF) and published by the CFATF in 2017. He said the report reflected a substantial number of deficiencies in Jamaica’s legislative framework (also referred to as “technical compliance” with the Financial Action Task Force’s 40 Recommendations). Dr. Clarke noted that Jamaica received a rating of compliant or largely compliant with 17 out of the 40 Recommendations and based on that outcome, Jamaica was placed in the CFATF’s enhanced follow-up process, and as such, is required to submit a follow-up report at one of CFATF’s two Plenaries, held annually. “In December 2020, Jamaica submitted the third follow-up report, since its mutual evaluation report was published in early 2017. In this third follow-up report considered at the recently concluded December 2020 Plenary of the CFATF, Jamaica applied for a re-rating in 19 of the 40 FATF Recommendations in which we were previously deemed either partially compliant or non-compliant,” he noted. “I am happy to report that Jamaica received upgrades in 12 of those Recommendations, while the rating remained unchanged for six recommendations. Jamaica received one downgrade as a result of changes in the requirements of that Recommendation post the finalisation of our last mutual evaluation,” Dr. Clarke added. The Minister said that Jamaica needs to be compliant or largely compliant with at least 32 of the 40 Recommendations to come out of the “follow-up process” with CFATF. Meanwhile, Dr. Clarke said the positive outcomes reported are in large part due to the tremendous cooperation and collaboration among public sector agencies that are a part of the National Anti-Money Laundering Committee (NAMLC), chaired by the Bank of Jamaica. He especially recognised the invaluable work and support provided by the Ministry of National Security; Ministry of Foreign Affairs and Foreign Trade (MFAFT); the Attorney General’s Chambers (AGC); the Director of Public Prosecutions (DPP); the Office of the Chief Parliamentary Counsel; the Financial Services Commission (FSC); the Financial Investigations Division (FID); and the Bank of Jamaica.

Local builders have joined the Caribbean Cement Company Limited (CCCL) in crediting the Government’s decision to relax nightly curfew rules affecting the construction industry as early as last April with aiding the promising recovery in that sector. The Statistical Institute of Jamaica (STATIN) last week reported a seven percent growth in the construction subsector in the July-September quarter, which has boosted hopes within the industry for a quicker-than-expected return to normal production levels in 2021, as well as offering evidence of a predicted major turnaround in the economy during the year. CCCL General Manager Yago Castro recently attributed the record 940,000 metric tonnes of cement manufactured in 2020 to the company’s capital investment and the expertise of its employees, as well as Government policies including its management of the pandemic and, specifically, the removal of curfew limitations in April. “The market responded opposite to what might have been expected, given the pandemic. Instead of slowing down, construction grew, and we kept in step with our customers by meeting their demand consistently. We will continue to ramp up production as the market grows,” Castro explained. “The Government of Jamaica assessed the situation well and allowed critical sectors to continue operating, once certain protocols were followed. Prioritising health, while keeping economic goals in mind, has mitigated the negative impact on our sector. Moreover, we saw tremendous performance from our team, who remained focused, and I am really proud of their commitment,” he added. In an interview with the Business Observer, president of the Incorporated Master Builders Association of Jamaica (IMAJ) Lenworth Kelly agreed with the presumption, although noting that a continuing resumption of construction projects which had been halted by COVID-19 earlier in the year, as well as the long delayed start-up to buildings projects which were delayed since January, 2020, also impacted the figures. “When COVID-19 came, there was an immediate slowdown about March to June, as the results were new to everybody, including the Government, which was still trying to find its way. Some of us kept working, but things slowed down significantly,” Kelly stated.

As the demand for skills in coding and software development continues to grow worldwide, Jamaica is set to prepare thousands of youths to transform the country into a technological hub of the Caribbean, through the Amber HEART Coding Academy. The academy, which was officially launched on Thursday, January 14, is the brainchild of the Founder and CEO of the Amber Group, Dushyant Savadia and is a partnership with the HEART NSTA Trust, the Housing Opportunity Production and Employment (HOPE) Programme and the Art of Living Foundation. “Last year, the software development market was valued at US$487 billion and is expected to continue to grow in the COVID-19 context,” said Savadia.“Jamaica is uniquely positioned to take advantage of this growing opportunity. We are an English-speaking country, we have the talent and now, through the Amber HEART Academy, we will build the competencies.” The technical curriculum, equipment and training will be undertaken by the Amber Innovations business line of the Amber Group, and facilitated through the HEART/NSTA Trust. Students will undergo an intensive year-long residency training at the Stony Hill HEART/NSTA campus with an internship component, where they will work with seasoned developers to work on software development solutions. Upon successful completion of the programme, the then graduates will be guaranteed jobs within the Amber Group. The students began training on January 12 this year. National Director of HOPE, and Board Member of the HEART/NSTA Trust, Colonel Martin Rickman said, “this initiative will provide a whole new world of opportunities for these participants, and for the country.” “This new generation of coders would have left the programme having gained not only technical skills, but also soft skills such as stress management, problem solving, creativity, and an innovative mindset to transform the world and position Jamaica as the next technological hub of the region. I would like to thank the Amber Group and in particular, Mr. Dushyant Savadia for his vision of the concept and co-sponsoring this initiative,” Rickman added. The Amber Group has created game changing software applications for a number of companies and governments across the region since its inception five years ago. Some of these include the Amber Connect vehicle tracking and fleet management solution, which is the first in the world to adapt artificial intelligence in vehicle security, the Jamaica Public Service Company (JPSCo.) Application, and the JAMCOVID-19 application. The latter, the world’s first end-to-end pandemic management system, which has since been replicated to serve seven Caribbean islands after its success in Jamaica last year. “In five short years, we’ve formed one of the largest technology conglomerates in the Caribbean, operating right out of Jamaica. We build technology products which are mind blowing, even to the Western world. That is the potential of this country, that is the innovative ability of this country,” said Savadia.

Beverage maker Trade Winds Citrus Limited is converting from bunker oil to liquefied natural gas as fuel source for the company’s steam generator plant, or boiler, and has hired New Fortress Energy to supply the LNG. Eventually, Trade Winds aims to become energy self-sufficient, supplying its own electricity for the 20-acre manufacturing complex, orchards and other lands it operates at Bog Walk; but for now, the LNG conversion covers only a portion of the operation, that is, only areas of the juice plant that is linked to the steam generator, said Managing Director Peter McConnell. Over time, the company expects to reduce its energy bill by one-fifth. All the equipment needed to do the conversion from Bunker-C fuel to LNG is already on the island, said McConnell, but the company is awaiting approval from the National Environment & Planning Agency, NEPA, to begin the installation. “Once approval is granted, this phase will start and last for about four weeks. The expected start-up date is late February to early March,” McConnell said. Under the arrangement with New Fortress, the natural gas trader is responsible for supplying Trade Winds with the equipment, the cost of which the juice maker will repay under the LNG supply contract. Trade Winds is spending US$67,000 on the boiler conversion. But: “We do not know the cost of the LNG infrastructure – tanks, piping, etc. That is being undertaken by New Fortress,” the MD said. McConnell expects to recover the cost of Trade Winds’ investment during the first year of operation, after which the beverage company is projecting savings of 20 per cent annually on its energy bill. “LNG will now provide 100 per cent of the energy used to generate steam in our operation. Unfortunately, this aspect of energy consumption is only a small fraction of our total energy needs; it, however, is a start on our road towards improving the cost of energy in our operations,” he said. Trade Winds’ move towards LNG as its energy source comes amid the company’s acquisition of neighbouring rival Jamaica Beverages Limited, which fast-tracked Trade Winds’ entry into the diary market. That complex, spanning eight acres, is not yet part of the LNG conversion programme. The beverage maker and producer of flagship brand Tru-Juice is just the latest corporation to convert to LNG, all utilising New Fortress as supplier. The American energy company has been the sole operator in that space in Jamaica since 2016 and last disclosed that it has 15 active contracts in this market. “This is our first initiative to use LNG or other sources of renewable energy in our operation; however, we have explored various other opportunities, including solar,” McConnell said. “Based on our analysis, it is cost-effective to invest in an LNG-powered generation plant and produce our own electricity.” Trade Winds had initially targeted June 2020 for the conversion but the COVID-19 coronavirus intervened, delaying the roll-out. “We will certainly look back at this LNG project once the economy rebounds, as Trade Winds is always looking for ways to not only increase revenues, but reduce expenses,” he said.

As a means of (re)connecting with descendants, and strengthening bilateral relations, Nigeria embarked on a historic chartered flight to Montego Bay, Jamaica, in December 2020. Living caught up with the mastermind behind the pioneering initiative, Elizabeth Agboola, the British-Nigerian founder of travel company, Nigerians Travel Too. She explained that it was always a lifelong dream of hers to assist in the efforts of this Nigerian-Caribbean connection. HOW IT ALL BEGAN What started out as a jest at a diplomatic dinner in Abuja in November of 2019 turned out to be the grandest gesture any nation could ask for. While at the elegant affair, Agboola engaged in light conversation with Jamaica’s High Commissioner to the Federal Republic of Nigeria, Esmond Reid. She suggested bringing a group of Nigerians to Jamaica for a visit. This brought about light-hearted laughter, since there were direct no flights between the two countries, but Reid said that one of these days his dream would come true, through a chartered flight. Agboola probed a little further and the high commissioner indicated that he would reach out to the Nigerian Airline Arik. The airline was thrilled but didn’t possess an aircraft big enough to accommodate those travel plans. The company then contacted Allen Ifechukwu Athan Onyema, founder of Air Peace Airline, to see if he would be able to facilitate this brilliant idea. The rest, as they say, was flying history. Agboola went to work marketing Jamaica as the destination of choice for the Christmas season. She flew from London to Lagos, speaking with 40 agencies about flying Air Peace. But then all plans came crashing down with the hit of the global pandemic, COVID-19. Despite the setback, Agboola sealed the deal with the airline. “I knew if I waited till 2021 to get this project off the ground I would have to start from scratch again,” she told Living. On December 21, 2020, a flight of 132 passengers departed from Murtala Muhammed International Airport, Lagos, and arrived at the Sangster International Airport in Montego Bay, St James. On-board were Agboola; Nigeria’s Foreign Affairs Minister Geoffrey Onyeama; his wife Sulola Onyeama; his delegates and others. The journey lasted 12 hours and all COVID-19 protocols were observed by the airline. They were greeted by government officials and Jamaica Tourist Board representatives. The Nigerian tourists spent a week and returned to Nigeria, having had the best Christmas experience ever. WHAT’S NEXT? Agboola hope to take this dual connection and cultural celebration into 2021 and expand the reach from solely flying to Jamaica to visiting other Caribbean countries. This tour, dubbed Easter In the Caribbean, is scheduled to take place in April. Plans are already under way for a two-way flight, where Jamaicans will be able to travel to Nigeria and embark on an exciting tour of Africa in April. “If you are doing business in the country or looking to do business there, then this flight will make it easier for you to do so, since it is a central location to other places of interest within the continent,” she said.