Minister Shaw Hails Junior Stock Market’s Success

Finance and the Public Service Minister, Hon. Audley Shaw, has hailed the success of the Jamaica Stock Exchange (JSE) Junior Market.

He says since its inception in 2009, the Junior Market has, to date, generated over $4.3 billion from trading involving the stocks of the 23 companies listed.

Additionally, he said the Index grew from 100 points at the outset, to 1,791 points at the end of December 2015.

The Minister was speaking at the University of Technology’s (UTech) Money, Banking and Finance Conference, at the institution’s main campus, in Papine, St. Andrew, on Wednesday, April 13.

Meanwhile, Mr. Shaw is encouraging tertiary students sourcing financing for entrepreneurial pursuits to seek assistance through the Junior Stock Exchange.

Mr. Shaw said the support that can be provided through this channel was indicative of the Government’s seriousness about creating and facilitating a culture of entrepreneurship, risk taking, job creation and economic growth.

“The investment environment must be conducive to achieving all this, and rewards must be made to those who take the risks, as you seek to participate in the partnership for prosperity that Jamaica needs,” he said.

Mr. Shaw further indicated that with the students’ “entrepreneurial propensity” and the inputs of other stakeholders, coupled with a Government that is “investor-friendly”, together “we can move from poverty and marginal growth to wealth creation and prosperity.”

The Junior Stock Exchange was established through a partnership involving the Government, Jamaica Stock Exchange (JSE) Board, Financial Services Commission (FSC) and a special Steering Committee, to encourage, promote and facilitate investments in entrepreneurship, employment and economic development.

The facility allows investors to put capital into legitimate small and medium-sized enterprises (SMEs), which trade shares on the JSE platform.

Earlier this month, Cabinet approved the renewal of incentives offered to investors on the Junior Stock Exchange, which were scheduled to expire on March 31.

The Money, Banking and Finance Conference was held under the theme: ‘Financial Stability in Jamaica and its Implications for the Equities Market’.