JIS News

Story Highlights

  • Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, has lauded the Jamaica Micro Financing Association (JaMFA) for its continued support of micro financing institutions (MFIs) across the country.
  • Mr. Hylton said he is pleased the association and the Government share the same goals of job creation, wealth creation and sustained economic growth, through support of the micro sector.
  • JaMFA was formed in 2008 by microfinance companies - Worldnet Investments Limited, Kris An Charles Investments Limited and First Union Finance Limited. The association seeks to change the image and conduct of money lenders in Jamaica’s micro-finance sector.

Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, has lauded the Jamaica Micro Financing Association (JaMFA) for its continued support of micro financing institutions (MFIs) across the country.

“Indeed, you have ensured that micro financing institutions see their role in serving the needs of the client, even as the Government seeks to support the development of micro enterprises through strong commercial policies and reforms,” he said.

The Minister was speaking at the launch of JaMFA’s publication, the microFINANCE JAMAICA magazine, at Hotel Four Seasons in St. Andrew, on August 20.

Mr. Hylton said he is pleased the association and the Government share the same goals of job creation, wealth creation and sustained economic growth, through support of the micro sector.

Turning to the publication, the Minister said it is fitting that the magazine is geared at keeping the public abreast of the developments and trends in the microfinance sector, nationally and globally.

“For me, it is testament to the growing maturity of the local microfinance sector, even as Jamaica remains at the forefront in the Caribbean,” he said.

Meanwhile, Opposition Spokesperson on Finance, Audley Shaw, also welcomed the publication, describing it as an excellent marketing tool.

“We are in the age of communication and every tool of communication that we can adopt is important in the marketing process and in selling the products that we have to offer,” he said.

 

The bi-annual magazine, which costs $850, focuses on the successes of the sector, as well as micro, small and medium-sized enterprises (MSMEs) which have benefited from the financing available from the MFIs.

The first issue highlights the women who have been successful in their careers as managers in the sector. These include: Managing Director, LASCO Financial Services, Jacinth Hall-Tracey; Deputy General Manager, JN Small Business Loans, Thelma Yong; General Manager, Microcredit Jamaica, Mitzian Turner; Managing Director, Cool Loans,Vivienne Reynolds; General Manager, Tari Solutions, Nicolette Wilson; and General Manager, Micro and Small Business at First Heritage, Sophia Richardson.

The publication also features an article on WorldNet Investment, a leader in the microfinance sector, with 17 branches islandwide. There are also contributions from noted persons, such as former President of the MSME Alliance, Professor Rosalea Hamilton; Chief Executive Officer (CEO) of CRIF NM Credit Assure Ltd, Terrence Cooper; and Lecturer, Department of Economics, University of the West Indies, Dr. Andre Haughton.

JaMFA was formed in 2008 by microfinance companies – Worldnet Investments Limited, Kris An Charles Investments Limited and First Union Finance Limited.  The association seeks to change the image and conduct of money lenders in Jamaica’s micro-finance sector.