JAMAICANS in the diaspora are being encouraged to invest in the country’s businesses, agriculture, and overall economic development. However, consul generals of Jamaica in the United States have noted that many diaspora members feel excluded from the process due to a lack of clear guidance on how to engage effectively.

Roderick Oliver Mair, consul general of Jamaica for the Miami/Florida area, emphasised the importance of diaspora members purchasing Jamaican-manufactured products to support local companies. He also encourages businesses domiciled in the United States to source products from Jamaica. Large distributors in the United States, which supply Jamaican restaurants, have raised concerns about the inconsistency in the production of key crops such as breadfruit, ackee, yam, and banana. This inconsistency has posed challenges in meeting the demand for authentic Jamaican ingredients, highlighting a significant gap in the supply chain that affects both local exporters and overseas businesses reliant on these staples.

“We take these things for granted when we are here [in Jamaica], but once you are abroad, anywhere you can find a good Jamaican meal, you go for it,” Mair said during the Jamaica Stock Exchange’s 20th Regional and Capital Markets conference at the Jamaica Pegasus hotel on Wednesday. “But the feedback in the market is that we are not consistent; we have had a number of distributors waiting for container loads of ackee, and they can’t fulfil the demand.”

Mair emphasised that there is a significant opportunity for Jamaican companies to align production planning with demand for key crops, addressing supply chain challenges and maximising potential. He noted that working closely with farmers across the island requires detailed planning to fully capitalise on opportunities within the diaspora market. By resolving these issues, Jamaican producers can meet current demand and position themselves for future expansion.

“Everybody who tries our food loves it, so there is a huge opportunity for us in agriculture,” he said.

Consul General of Jamaica in New York Alsion Roach Wilson has called for greater efforts to engage the diaspora in contributing to Jamaica’s growth and development. Wilson, who oversees 33 states, hosted a Jamaica Stock Exchange (JSE) forum a few years back, aimed at fostering such connections. The event, which featured representatives from the Jamaica Stock Exchange, attracted over 3,000 diaspora members eager to gain insights into investment opportunities, trade, and the dynamics of export and import.

“The fire department had to come in and ask us to close for a moment because we had too many people in the building,” she revealed.

The overwhelming turnout underscored the diaspora’s strong interest in playing a more active role in Jamaica’s economic advancement. In light of the recent pardon of Marcus Garvey by former US President Joe Biden, Consul General Wilson is leveraging the renewed buzz to strengthen ties with the diaspora. She has invited Steven Gooden, chairman of the JSE, and JSE Managing Director Marlene Street Forrest, to reengage diaspora members and explore the possibility of launching a diaspora bond to foster greater investment in Jamaica’s development.

“The remittance that the diaspora sends back to Jamaica is really US$4 billion; that is not peanuts. And so it is time for us to engage the diaspora and launch a diaspora bond,” said Wilson.

Members of the Jamaican Diaspora have voiced frustration over the challenges of accessing investment advisors and brokers to guide them on available opportunities to invest in Jamaica. Many have expressed difficulty in simply connecting with a broker, as they are unfamiliar with how to navigate the stock market. According to Consul General Wilson, despite providing referrals to interested individuals, there is a recurring issue of poor follow-up.

“They will ask us for referrals, and we would give them a list, but they often say, ‘No one called me back,’” she shared during an interview with the Jamaica Observer.

While the consul general cannot personally monitor each member of the diaspora across the 33 states she serves, she is urging local brokers to implement systems that facilitate easier connections and communication with diaspora members, making the process of investing in Jamaica more seamless. Wilson has taken proactive steps, such as collecting contact information for investment advisors. However, she noted that these contacts sometimes become outdated. Emails occasionally bounce back, signalling that individuals are no longer in their roles. She emphasised that the responsibility lies with brokers and advisors to ensure their information is up to date. When they visit New York, they must verify that diaspora members have access to accurate contacts and that they are readily available to discuss investment opportunities.