WIPay gifts 1000 free websites

ONE thousand entrepreneurs have received free e-commerce websites from WiPay through its affiliate company, WiShops.

WiPay said its ‘Project 1000’ was part of its contribution towards the acceleration of e-commerce adoption in the Caribbean.

WiPay was also using the initiative to create a Guinness World Record for the most people hosted in a web development tutorial.

Step by step guidance was provided during the May 16 event on how to create the free website.

Project 1000 was open to anyone living in Trinidad & Tobago, Barbados, St Lucia, and Guyana. However, only entries coming out of Jamaica counted towards the Guinness World Record attempt.

Project 1000 website owners also have access to post-event training and support.

First Rock expands in Latin America

FIRST Rock Capital Holdings is executing three major deals as part of its expansion in the region.

The company, through its Costa Rican subsidiary, First Rock Capital LATAM SA, closed a real estate deal recently. Two other deals in Guyana are also on the verge of being closed.

All three deals are expected to cost billions of dollars.

The Costa Rican project is a multi-storey residential development. It represents First Rock’s third transaction in the last 18 months as the company continues to increase its assets in that country.

First Rock says it also has plans to explore other countries in the region for investment in the near future.

GoIPO gets upgraded

OPENING an investment account through the NCB Capital Markets GoIPO platform is now fully digital.

Clients can open an account from anywhere in the world, without having to visit a physical location.

Additionally, customers can upload documents for the new account electronically.

The platform also now facilitates the opening of joint accounts with a maximum of three joint holders per investment account.

Only the primary account holder will be required to have NCB Retail Internet Banking credentials to open the joint account.

GraceKennedy increases stake in key insurance

GRACEKENNEDY Group has acquired an additional 8% of Key Insurance. Since being acquired by GK in March 2020, Key has reported three consecutive quarters of profits.

In January, Key raised $668 million in fresh capital through a rights issue.

GK Capital Management had acted as lead broker, and is reported to have spent $163 million to acquire just over 8 per cent of the company.

GK Financial also acquired an additional 124 million shares during the rights issue, at a cost of $436 million, to maintain their 65 per cent stake.

At the end of March, GK Group owned over 73 per cent of Key. The company has spent over $1 billion on the once loss-making company over the last year.

Scotiabank deepening support for MSMEs

SCOTIABANK and owner of the multimillion-dollar franchise ActionCOACH, Brad Sugars, will be hosting an online intervention to help small and medium-sized enterprises (SMEs) grow their businesses.

Starting this month, registered participants will have free access to international business coaching for 30 days.

Under the ’30X’ programme, participants will be exposed to winning strategies to optimise, revamp or modify their business.

Topics include: direct marketing, social media content, leadership and management, keys to systems, sales and profit margins.

Interested Scotiabank customers can register for 30X by contacting their business banking officer.

Bill to amend Companies Act coming this month

A Bill to amend the Companies Act to allow Jamaican companies to hold electronic meetings will be tabled in Parliament this month.

Minister of Industry, Investment and Commerce Audley Shaw provided details during his contribution to the 2021/22 Sectoral Debate in Parliament last week.

The Companies Act does not currently allow Jamican companies to host annual general meetings (AGMs) or extraordinary general meetings (EGMs) virtually or in a hybrid format. However, several companies have gone to court for approval to conduct such meetings as a result of COVID-19 restrictions.

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