OCHO RIOS, St. Ann — The Jamaica Stock Exchange (JSE) has forged a partnership with Caribbean Enterprise Network (CEN-UK), a United Kingdom-based company, as it seeks to get Jamaican affiliated companies in that country to list on the stock exchange.

“Ultimately as a stock exchange we are thinking about companies that they can invest in, who would be listed on the stock exchange, especially the Junior Market,” Street Forrest said. “On the other end, we are thinking about companies in the UK Diaspora who would possibly want to come and list on the stock exchange here too so itâs a two way street.”

JSE general manager, Marlene Street Forrest signed a Memorandum of Understanding (MOU) with founding member of the UK entity, Denis St Bernard, during the final day of the fourth biennial Jamaica Diaspora Convention in Ocho Rios, St Ann on Friday.

Through the partnership, approximately 250 small- and medium-sized businesses associated with CEN-UK will be encouraged to invest in Jamaica as both entities collaborate and stage joint activities that would promote the growth of the companies.

“It is good that we are at the position of the signing now, we think this is a pivotal movement because what we aim to do in respect to the partnership is to ensure that the UK Diaspora and Jamaica work to achieve certain objective,” she said.

Street Forrest said the discussion to enter into the arrangement with CEN-UK started about three years ago.

THe JSe head anticipates that both the local stock exchange and CEN-UK will benefit from the partnership and said the JSE would educate the UK Diaspora on how businesses can benefit from investing in Jamaica.

Street Forrest said that, within another year, the partnership should result in more companies in the UK doing business with JSE as well as a growth in the number of investors.

She noted that of the $3 billion raised on the exchange in just over a year, only four percent represents the Diaspora.

“We want within a year to move that number from that four percent to even 10 per cent and then we continue to do that growth,” Street Forrest said.

For his part, Bernard said the MOU which is the first formal business link since the Diaspora was established, would give members an opportunity to invest in entities which are safe and which offer great returns on their money.