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Jamaica FSC To Stage Financial Forum

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#Jamaica, November 5, 2021 – The Financial Services Commission (FSC) will stage its first ever Financial Forum on Monday, November 8 and November 15, 2021, on the JIS’s website, YouTube and Twitter pages, and on the Jamaica News Network (JNN) from 10:00 a.m. to 10:30 a.m.

Director of Stakeholder Engagement, Communication and International Relations at the FSC, David Geddes, told JIS News that the forum will focus on the sectors regulated by the FSC, which are the securities, insurance and private pension bodies.

“The theme, ‘Regulation Facilitating Development’, is designed to look at what regulation has done to help develop Jamaica over the past 20 years. FSC is this year celebrating its 20th anniversary. What the FSC has done, what the industries themselves have done to facilitate development… a lot of people do not know that the securities industry in Jamaica is valued at about 1.9 trillion dollars. That’s a very, very hefty sum of money, so it has helped to create wealth for several persons and we think that more persons can be involved in creating generational wealth,” he said.

Mr. Geddes noted that the FSC decided to stage the Financial Forum so that persons can understand how financial regulation can facilitate the furtherance of socio-economic development at various levels in Jamaica.

“The forum looks at what regulation does and what is happening in the industry.  I must also emphasise that it is not just for our licencees and registrants, it’s for the man in the street who wants to learn more about financial inclusion, financial literacy and how they can create wealth. So, it’s going to be a very interesting forum with many informative presentations.” he told JIS News.

The forum will feature six presenters sharing on various topics.

“David Answer, a communication officer at the FSC, is doing a presentation directly focused at youth and what should be done to get youth involved in planning for their future, retirement and creating wealth. We have a presentation from the Bank of Jamaica, Melanie Williams, who is the head of the Financial Inclusion Secretariat, and she is looking at the issue of financial inclusion and to tie it into the Vision 2030 goals,” Mr. Geddes said.

“We have presentations from the University of Florida. Dr. Mark Jamison is an economist and his

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ties into the theme of the forum, and from that perspective we also expect a presentation from the Executive Director of the Insurance Association of Jamacia, Mr. Orville Johnson, who will be looking at the importance of insurance and how it has contributed to the development of Jamaica and also provide a shield of protection for many persons in Jamacia,” he added.

Rounding out the list of presenters is world-renowned pension reform advocate, attorney-at-law and President of the Pensions Industry Association of Jamaica, Sanya Goffe.  She will be joined by  Steven Gooden, President of the Jamaica Securities Dealers Association, who is renowned for wealth creation, market reform and regulation.

Mr. Geddes is encouraging everyone to tune in to the Financial Forum, as beneficial information will be shared.

“One of the most important things for each person is their financial well-being outside of health. Their financial well-being is of critical importance. If you don’t take care of that, you will find yourselves having several other problems, such as health and mental issues. You find people get depressed when they cannot manage their finances,” he said.

“This forum is going to look at the important decisions that you should make, why you are protected and why it is safe to invest, and of course, our licencees always want to know what their regulator is thinking. For that man, woman and youth in the street, learn about the importance of taking care of your financial self, and the forum will help you to do that,” Mr. Geddes added.

The FSC is mandated to protect the interests of consumers, particularly of non-deposit-taking financial institutions. It is also mandated to promote financial education and financial literacy, so that persons can understand the decisions that they need to make in an increasingly complex environment.

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Fighting the fungus foe of the beloved banana

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How Venezuelan farmers are learning to grow and live with a devastating plant disease

 

In the fields of Venezuela, where the banana has been for generations a symbol of sustenance and tradition, a shadow fell across the land. In 2023, Venezuela’s National Institute of Integral Agricultural Health (INSAI) declared a phytosanitary emergency: the fungus Fusarium Tropical Race 4 (TR4) (Fusarium oxysporum f. sp. cubense tropical race 4; syn. Fusarium odoratissimum) had arrived in producing areas in the states of Aragua, Carabobo and Cojedes.

This fungus, considered a devastating disease of banana and plantain (Musaceae) trees, can remain in the soil for more than two decades, threatening production and the lives of those who depend on it.

In the state of Aragua in the north of the country, the Renacer community had been growing bananas and plantains on 20 hectares since 2018. Then Fusarium arrived.

“When the disease hit, the entire plantation began to deteriorate. We refused to ‘die’ with the trees because that was our livelihood. The visits of INSAI confirmed that we had to chop down the banana trees. I cried a lot because I had worked with my banana trees for years,” recalls woman farmer, Lesbia Margarita García, with a broken voice.

In response, INSAI implemented measures to eliminate the affected plantations and improve the soil health by changing to other crops that allow agricultural production to recover. The Food and Agriculture Organization of the United Nations (FAO) offered assistance by providing corn seeds, tools, biosecurity inputs and training, with teams of experts helping farmers to start again.

“Planting corn, thanks to the INSAI-FAO programme, gave us a harvest that benefited everyone. We have been improving the soil,” says Lesbia Margarita with a smile. “Now we rotate crops, observe soil health and have learned how to use natural fertilizers. Expert assistance has been key.”

The pilot project works directly with affected producers in high-risk areas, promoting alternative crops such as cereals and vegetables, delivering inputs and tools to mitigate damage and applying biosecurity measures for safe and effective containment.

“Beyond the corn received, we have already planted cassava, chili peppers, beans and pumpkin. We hope that by the end of the year [2025] we will be diversified and that each season we will have something to sell. These lands do not give up,” says Lesbia Margarita with conviction.

The Renacer community is beginning to see fruits. Their products are reaching local markets, generating income and rebuilding their livelihoods.

Key actions to manage Fusarium TR4 are ongoing, including regular monitoring, continuous training, inter‑institutional coordination, updates to the national plan, information campaigns and producer impact assessments. INSAI is sustaining regulatory, surveillance measures and training —with FAO support—as part of a comprehensive long‑term strategy.

At the global level, FAO supports awareness raising, capacity building and international collaboration in the fight against Fusarium TR4 by facilitating the World Banana Forum and its Global Network on TR4.

“The objective is for countries to strengthen their operational and technical capacity, articulating actions between the public sector, the private sector and family farmers,” says Raixa Llauger, FAO Agriculture Officer in Mesoamerica. “FAO and local partners have promoted this approach in Venezuela.”

As an essential part of the activities, a comprehensive training programme was developed with activities that taught farmers how to identify the disease contain it and protect crops. In addition, FAO has distributed laboratory equipment, biosecurity tools and a multispectral drone to INSAI. Drones are an efficient and cost‑effective tool for phytosanitary surveillance, offering rapid, high‑resolution monitoring and early detection of plant pests and diseases.

Overall, the project strengthened biosecurity measures against the Fusarium fungus through the adoption of the National Action Plan and the establishment of partnerships with national and international institutions. In addition, the pilot initiative supporting smallholder farmers in key production areas and a nationwide awareness campaign with broad outreach improved surveillance, diagnosis and phytosanitary response capacities across the country.

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Widow’s Testimony Recounts Night Haiti President Was Killed

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MIAMI, Florida — Emotional testimony from Martine Moïse, the widow of assassinated Haitian President Jovenel Moïse, has given jurors in a U.S. federal courtroom a chilling account of the night gunmen stormed the presidential residence and killed the country’s leader.

Martine Moïse took the stand this week in Miami as part of the ongoing trial of several men accused of helping plan and finance the July 7, 2021 assassination, a crime that plunged Haiti into political crisis and remains only partially solved.

She told the court that armed men forced their way into the president’s private home in the hills above Port-au-Prince during the early morning hours, firing multiple shots at her husband while she lay beside him. She testified that she was also wounded in the attack and survived by pretending to be dead until the gunmen left the room.

According to prosecutors, the plot involved a group of foreign mercenaries, including former Colombian soldiers, along with Haitian and Haitian-American suspects. Investigators say some of the men believed the mission was to detain the president, but the operation turned into an assassination.

The Miami trial is focusing on the alleged role of South Florida businessmen and others accused of organizing or financing the plan, part of a wider international investigation that has stretched across several countries.

More than four years after the killing, the question of who ultimately ordered the assassination remains unanswered, with suspects still in custody in both Haiti and the United States as the case continues to unfold.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Jamaica Joins Afreximbank Agreement, Strengthening Africa–Caribbean Partnership

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CARIBBEAN — Jamaica has become the 13th CARICOM member state to accede to the African Export-Import Bank Establishment Agreement, further strengthening economic ties between Africa and the Caribbean.

The development was confirmed during the 50th CARICOM Heads of Government Meeting, where an Afreximbank delegation led by George Elombi and Kanayo Awani met with Jamaica’s Prime Minister Andrew Holness to advance cooperation.

Prime Minister Holness thanked the bank for its support following Jamaica’s recent hurricane, noting that Afreximbank financing helped restore critical infrastructure including water, electricity, sewage systems and roads, while also assisting reconstruction efforts aimed at building stronger resilience to future disasters.

The meeting also focused on broader development opportunities tied to Jamaica’s membership in the agreement. Discussions included rebuilding and modernising infrastructure such as railways, hospitals and other public facilities, while strengthening regional transportation and trade networks to improve the movement of people and goods across the Caribbean.

Afreximbank has been expanding its presence in the Caribbean as part of its strategy to connect Africa with the region often referred to as “Global Africa.” The bank has already committed billions of dollars in financing and trade support to Caribbean economies in recent years, including funding for infrastructure, trade facilitation and private sector investment.

By joining the agreement, Jamaica gains expanded access to Afreximbank’s financial instruments, technical support and trade networks designed to promote commerce between Africa and CARICOM states.

Regional leaders say the growing partnership could unlock new opportunities in areas such as trade, logistics, tourism, manufacturing and cultural exchange, strengthening economic cooperation between the two regions with deep historical and diaspora ties.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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