Project STAR Listed On Jamaica Social Stock Exchange

• Project STAR (Social Transformation and Renewal) is now officially listed on the Jamaica Social Stock Exchange (JSSE). The JSSE provides a platform to assist social-sector organisations to attract long-term funding to make their projects sustainable.
• Speaking at the official listing ceremony, at the Jamaica Stock Exchange’s offices in downtown Kingston on February 6, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, said the ceremony represents a significant milestone for both the JSSE and Project STAR. He further stated that through the programme, more persons will be employed, which will have a significant impact on the country’s low unemployment rate.
• Managing Director of the Jamaica Stock Exchange, Dr. Marlene Street Forrest, noted that the historic listing marks the first listing ceremony of the JSSE for the year and its fifth listing to date.
• By listing on the JSSE, the company will be required to follow similar regulatory guidelines as with companies on the JSE, such as financial reporting practices, which should provide comfort to investors who will be privy to the financial reports of the company highlighting how their investments are being used.
• The shares will represent charity donations rather than tradeable shares, which will prevent investors in the security from selling to each other on the exchange.
• Project STAR is a social and economic transformation programme created by the Private Sector Organisation of Jamaica (PSOJ), in partnership with the Jamaica Constabulary Force and driven by communities, to bring about societal transformation through targeted interventions in under-resourced areas of Jamaica.

(Sources: JIS & NCBCM Research)