FINANCIAL INCLUSION
Smart and compassionate lending are vastly expanding the rate at which average Jamaicans have access to capital.
What kind of services do you provide?
MARK CROSKERY We have been around since 1973 and have witnessed many ups and downs in Jamaica. We have three segments: financial planning, brokerage services, and private wealth management. Our core focus is in private wealth and investment banking, capital markets, and private equity on behalf of clients. We do financing and dabble in venture capital. Our investment banking unit is robust, as is our private wealth department. We also have brokerage services, where the client can execute user platforms. Overall the focus is more on investment banking and private wealth because of the synergies between the two, but we also like to get out to the underserved working class through our financial planning and brokerage divisions. We have low minimums for that, at around USD80, which not all our competitors offer. It is more of the retail or distribution business. We also have a sister company called Dolla Financial Services operating in six locations and doing microfinance. Jamaica needs much more equity and capital and more depth for SMEs. Through that company, with a separate CEO, board, and management team, we are able to do the other side of the balance sheet. We are able to lend an SME or individual funds they would not previously have had access to. These are people who are underserved and might not even have a bank account.
MARCUS JAMES When we first started Access, we found a gap in micro businesses, which were underserved and could not gain access to credit for loans. We saw an opportunity to finance this particular niche. The company was set up in 2000, and our products have since evolved to serve microbusinesses as well as people who find it difficult to get consumer loans. Initially, we offered straight microfinance loans, but now offer consumer and small business loans. Currently, our portfolio is 60% individuals, 30% microbusiness, and 10% small business loans. A typical microbusiness employs between one and five people, and we use the employment size to determine the type of business. Small businesses in Jamaica typically have revenues of up to USD80,000 per annum, and we provide loans of up to USD159,400 for them. Part of our growth strategy is to build on existing partnerships while developing new ones. We have certain key partnerships that are critical for our success. These include our partnerships with the Development Bank of Jamaica and Proven Investments Limited. We also have certain key employers for whose employees we provide loans and plan to maintain strong relationships with them. Going forward we will continue to pursue both organic growth and acquisition opportunities. Over the last couple of years, we have concluded several acquisitions to achieve growth and economies of scale. Customer service is key to our operations. Because of this, we find that word-of-mouth referral is one of our primary marketing tools. In fact, the Access brand has become a household name, primarily through positive feedback delivered to others by our customers.
What do you do differently than your competitors?
MC We advertise the fact that we provide 24-hour access to our financial agents or advisors; one can reach them as needed, even on a Saturday or Sunday. We provide better access to US dollar stock market or equities market than our competitors. One of our bigger business lines is the US equity market. We give the average Jamaican right up to the wealth management plan access to Apple, Facebook, Google, and so on. We are strict on what we want to see customers going into as we predominantly encourage blue chip investments. Above all though, the thing we really do well is service. We offer the personal touch. We are predominantly a relationship-based business. We do not want to lose our clients in the organization like larger firms often do, which is something we have seen happen as our competitors have grown.
MJ We try to differentiate our company by offering excellent customer service, making our requirements flexible, and our terms convenient. If a client has a unique situation, we will work with them to get them the best financing option available. We also have a great loan turnaround time. Loans can be disbursed in as little as two hours if the clients opt for a direct deposit to their accounts. Current Access has 24 physical offices throughout Jamaica, and we continue to evaluate the landscape to identify opportunities for expansion. In November 2017, we opened a branch in Portland.

TABLE OF CONTENTS
Interview
Most Honourable Andrew Holness, Prime Minister, Jamaica
TBY talks to the Most Honourable Andrew Holness, Prime Minister of Jamaica, on efforts to foster sustainable and inclusive growth, the main challenges ahead for the nation, and its key successes in improving the business environment.
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Diane Edwards, President, Trade & Investment Jamaica (JAMPRO)
TBY talks to Diane Edwards, President of Trade & Investment Jamaica (JAMPRO), on making investments throughout the whole value chain, becoming a regional distribution hub, and boosting niche agricultural output.
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Courtney O. Campbell, President & CEO, Victoria Mutual
TBY talks to Courtney O. Campbell, President & CEO of Victoria Mutual, on the origins of financial inclusion in Jamaica, helping people get a start on their property journey, and assisting young businesses to exploit a positive business environment.
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Raymond Walker, Founder, Chairman & CEO , Caribbean Assurance Brokers Ltd. (CAB)
TBY talks to Raymond Walker, Founder, Chairman & CEO of Caribbean Assurance Brokers Ltd. (CAB), on fighting for its clients, using environmentally sound methods to drive down costs, and continuously driving innovation.
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Emanuel DaRosa,, President & CEO, Jamaica Public Services (JPS)
TBY talks to Emanuel DaRosa, President & CEO of Jamaica Public Services (JPS), on pursuing common goals in the best possible way, utilizing Jamaica's most abundant natural resources, and satisfying half of Jamaica's energy needs through renewables.
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Winston Watson, Group General Manager, Petroleum Corporation of Jamaica (PCJ)
TBY talks to Winston Watson, Group General Manager of Petroleum Corporation of Jamaica (PCJ), on keeping a hand in both green and black energy, helping the government reach its 2030 Energy Vision targets, and educating people on the importance of conservation.
read articleFocus: LNG Investments
Light My Fire Jamaica
The Jamaican government is pushing private investment in liquefied natural gas (LNG) to provide cheaper and cleaner energy to households and businesses. Through partnerships with local and international companies, New Fortress Energy is leading the way to ignite this sector.
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Gordon Shirley, President & CEO, Port Authority of Jamaica (PAJ)
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
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Fritz Pinnock, President, Caribbean Maritime University
TBY talks to Fritz Pinnock, President of Caribbean Maritime University, on capitalizing on the rising power of the global south, customizing goods before they reach the final consumer, and leveraging Jamaica's geostrategic location to create added value.
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Winston Adams, JP, Executive Chairman, University of the Commonwealth Caribbean (UCC)
TBY talks to Winston Adams, JP, Executive Chairman of the University of the Commonwealth Caribbean (UCC), on the university's illustrious history, its upcoming strategies, and Caribbean Knowledge City.
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Michael Williams, Acting Executive Director , Mona School of Business and Management
TBY talks to Michael Williams, Acting Executive Director of Mona School of Business and Management, on maintaining quality across its programs, its achievements in the Caribbean, and the school's research-based approach.
read articleFocus: Downtown Kingston Revitalization
Drinking from the Fountain of Youth
Although the subject of much talk, downtown Kingston has been relatively neglected for many years while surrounding areas of the city attracted more real estate developments. A series of public and private investments indicate that the trend is finally reversing.
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Timothée F. Delebarre, Country Manager, VINCI Construction Grands Projets (VCGP)
TBY talks to Timothée F. Delebarre, Country Manager of VINCI Construction Grands Projets (VCGP), on diversifying their business lines, expanding Kingston's Port, and developing innovative financing mechanisms.
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Dittie Guise, General Manager, Montego Bay Convention Centre (MBCC)
TBY talks to the late Dittie Guise, General Manager of Montego Bay Convention Centre (MBCC), on marketing the convention center, creating an integrated tourist experience, and preparing for more events and visitors.
read articleFocus: Linking Tourism
Lifting All Boats in the Rising Tide
Although significantly contributing to the economy, tourism in Jamaica suffers from an inadequate level of linkage with other sectors. The government, in partnership with private actors, is launching a number of initiatives to ensure that international tourists meet local businesses.
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Natalie St. Louis, Founder, CEO & Managing Director, Strategic Konnections & Management Services Limited
TBY talks to Natalie St. Louis, Founder, CEO & Managing Director of Strategic Konnections & Management Services Limited, on working with businesses to further their goals, the importance of engaging with consultants, and goals for the coming year.
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