JSE Activity, Forex Trends, and Infrastructure Investments Highlighted in Latest Business Report
The June 12, 2025, edition of “The Business Report” provided a comprehensive overview of the Jamaican financial landscape, covering key developments in the stock market, foreign exchange trading, and infrastructure investments. The report highlighted significant activity on the Jamaica Stock Exchange (JSE), alongside crucial updates on the foreign exchange market and developments in the telecommunications sector.
Executive Share Transactions on the JSE
Several companies listed on the JSE reported significant executive share transactions during the reporting period. Pan Jamaica Group Limited announced a sale of 674,556 shares by a Connected Party. This transaction reflects a notable shift in share ownership within the company and could be indicative of broader market trends. One-on-One Educational Services Limited also reported a sale of 1,100,000 shares by a senior officer, occurring between May 28 and May 29, 2025. These transactions occurred within the trading period ending June 11, 2025, and provide valuable insight into the strategic decisions of key personnel within these organizations.
Digicel’s Infrastructure Investment
Digicel, a major player in the telecommunications sector, announced significant investment plans for infrastructure development. The company intends to spend US$216 million on infrastructure this year, followed by an additional US$240 million next year. This substantial investment is expected to contribute to an improved credit score for the company, signaling confidence in its long-term growth prospects and operational stability. These investments are likely to enhance network capabilities and expand service offerings for Digicel’s customer base.
ATM Functionality Challenges
The Deputy Bank of Jamaica Governor, Dr. Jade Lewis, addressed ongoing challenges with the functionality of Automated Teller Machines (ATMs) across the country. Commercial banks are facing difficulties in meeting the central bank’s requirement of maintaining 95% ATM functionality, or approximately 22 hours and 48 minutes daily. Jamaica currently has 878 ATMs, and ensuring their consistent operation is critical for facilitating financial transactions and supporting the economy. The report underscored the importance of robust maintenance and technological upgrades to resolve these compliance issues.
Foreign Exchange Market Analysis
The foreign exchange market witnessed considerable activity during the reporting period. On June 11, 2025, the Bank of Jamaica reported that US$87.05 million was purchased and US$94.75 million was sold by forex traders. This activity reflects the ongoing dynamics of supply and demand within the market. The report provided a detailed breakdown of the profitability for forex traders across different currencies. Forex traders earned 96 cents per dollar selling the US at $160.15 and buying at $159.19, representing a profitable spread on transactions involving the US dollar. The Canadian dollar also yielded profits for traders, with 83 cents earned per transaction. The selling price for the Canadian dollar was $118.1, and the buying price was $117.18. Furthermore, the British pound proved to be another lucrative currency, generating $1.10 in profit for forex traders. The selling price was $216.45, and the buying price was $215.35.
Most Actively Traded Stocks
The report identified the most actively traded stocks during the period. Kingston Wharves Limited led the pack, with 9,962,826 units traded. Jamaica Teas Limited saw significant activity as well, with 2,914,496 units traded. Trans Jamaican Highway Limited also recorded a notable volume of trading, with 1,375,189 units changing hands. This information provides a glimpse into investor sentiment and the most popular stocks among market participants.
Conclusion
The June 12, 2025, edition of “The Business Report” paints a picture of a dynamic financial environment in Jamaica. From significant transactions on the JSE and Forex market activity to investments in infrastructure and challenges with ATM compliance, the report offers a comprehensive look at the key factors shaping the economy. The insights provided are crucial for investors, financial professionals, and anyone interested in understanding the current financial climate.