Deaf Can! became the first company to be listed on the Jamaica Social Stock Exchange (JSSE) at a listing ceremony at the JSE Headquarters at 40 Harbour Street. This listing was made possible by the kind donation of NCB Foundation and NCB Capital Markets Limited. Their combined contribution to Deaf Can! $7.5 million. There have been other contributions from many other organizations and individuals, both in the Diaspora and locally, including the Prime Minister to the JSSE.
Mrs. Andrea Kelly, General Manager of JCSD & JCSD Trustee Services, speaking at the listing ceremony stated, “While we have received some support from many persons in the Diaspora and locally, we could not stand here today to list Deaf Can! if we did not have the support of NCB Foundation and NCB Capital Markets. Every idea requires champions in order to blossom and grow and NCB and NCB Foundation were truly champions in assisting the JSSE in realizing its dream that soon there would be at least one project that was fully funded. Here we are today with Deaf Can! being that project. We believe that this action by NCB will provide the catalyst for more corporates, foundations and Jamaicans to access the JSSE platform or directly support a market whose directors have promised that the JSSE will be fair, efficient and transparent, while providing the platform for mobilizing social capital and building sustainability.”
Hon. Olivia “Babsy” Grange, Minister of Culture, Gender, Entertainment and Sport stated that the Government sees the JSSE as a very good avenue to build the social capital of the country and to assist those that are in dire need of help to get the help that they need. Therefore, much more companies that are social enterprises will get the opportunity to raise capital, list on the JSSE and impact the lives of many while contributing to the development of the country. She congratulated NCB Foundation and NCB Capital Markets Limited for the bold move that they made in funding Deaf Can! and appealed to corporate Jamaica to do the same.
The Hon. Thalia Lyn, Chairman of NCB Foundation, stated that, “NCB Foundation did not find it difficult to fund Deaf Can! as they were in the business of funding social enterprises that will lift the country and add value to the economy, and this Deaf Can! was doing through its coffee business, and at the same time, employed a group of young people who otherwise would not have received employment because of their disability. She went on to state that NCB Foundation was going to be partnering with other institutions which will be training young persons who are at a disadvantage and assist them to become certified and ready for the world of work.
Speaking at the event, Hon. Floyd Green, Minister of State in the Ministry of Industry, Commerce and Agriculture stated that the Government endorsed the work of the JSSE and will be moving shortly in Parliament to past the necessary legislations to allow social enterprises to offer shares to the public and for the shares to be traded on the secondary market. The Minister recognized that some social enterprises would not be able to raise the needed capital to fund their projects by donations only, but could do so through the issuing of shares and this would allow much more capital to be allocated to these enterprises and for the growth and development of the country’s human capital.
Professor Neville Ying, Chairman of the JSSE, told the audience that the JSSE is awaiting the legislations to be passed in Parliament to allow social enterprises to be able to raise capital through the issuing of shares on the market and for investors to trade these shares on the market. He said that the vision of the of the JSSE is to move social enterprises to social business enterprises and to eventually list on the Board of the Junior Market.
Mr. Julian Mair, Chairman of the JSE, stated that with the listing of Deaf Can! it raised the visibility of the social enterprises and the JSSE and this will allow more corporate entities to donate to these social entities. Therefore, he was expecting much more listing on the Board of the JSSE as donations come in from the business sector and the Diaspora to assist the social enterprises.
Mr. Blake Widmer, Founder and CEO of Deaf Can! thanked NCB Foundation, NCB Capital Markets, the JSSE and all the persons that were in the audience for their support to allow Deaf Can! to be the first company to be listed on the Board of the JSSE. He stated that it was a dream come true for the deaf community and that they will be able to offer employment to their own, while contributing to the agricultural sector and the country on a whole. He said that the cultivation of more coffee for the business has just become a reality and Deaf Can! farm will move from a one-and-a-half-acre farm to a five-acre farm and this was made possible by NCB and the JSSE.
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CONTACT:
NEVILLE ELLIS
Manager – Marketing & Communications
Telephone: 876-967-3271 (O) 876-322-0984 (C)
