KINGSTON, Jamaica, Thursday April 26, 2018 – Minister of Industry, Commerce, Agriculture and Fisheries Audley Shaw has announced plans for the establishment a Micro Stock Exchange.
The Micro Stock Exchange will allow micro, small and medium-size enterprises (MSMEs) to obtain funds to support their growth and expansion. And Shaw explained that it would target companies that need between J$5 million (US$40,293) and J$50 million (US$402,933) in capital.
“We are operating in a time of derisking. The time for informality in our economy is passed; we have to encourage all of our business people (to) get formal. The Micro Stock Exchange will offer yet another opportunity to become formal,” he said.
Shaw said the Jamaica Stock Exchange has been given instructions “to do the necessary work” to advance the establishment.
He noted that the proposed Micro Stock Exchange follows on the continued success of the Junior Stock Exchange, which was established in 2009, when he was the Minister of Finance.
“The basis of the Junior Stock Exchange was to lighten the requirements for access and the Junior Stock Exchange by any standard of measure has been successful,” he said.