Will China become Jamaica's #1 supplier?

Chinese cars are all over Jamaica’s roads. And of course, Jamaicans love shopping on Shein and Temu. So, could China eventually overtake America as our biggest supplier?

We spend a lot of time talking about Caribbean trade with the United States. But Jamaica’s numbers show just how quickly China is gaining ground...

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Luwanna Williams takes the helm at JN Bank

New Managing Director

JN Bank has appointed Luwanna Williams as its new Managing Director. Her appointment took effect on September 7, following the retirement of former Managing Director Leesa Kow. Williams has more than 20 years of experience in banking and financial services. She previously held senior positions at National Commercial Bank and First Global Bank and most recently served as Chief Risk Officer at JN Bank.

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Jamaica targets local assembly of Chinese products

Increase trade with China?

Jamaica is exploring opportunities to assemble Chinese products locally. The Jamaica Special Economic Zone Authority says the country could import components and perform assembly, testing, packaging and repairs locally. Potential areas include electronics, automotive components, appliances, energy-storage equipment and light machinery. The initiative is intended to capture more value from Jamaica’s growing trade with China and potentially create new manufacturing and export opportunities.

Sonja Salmon appointed CEO of PROVEN Bank

New leadership

PROVEN Bank has appointed Sonja Salmon as its new President and Chief Executive Officer. Salmon assumed the position on September 1 and will oversee the bank’s operations in the Cayman Islands and Saint Lucia. She has more than 20 years of experience in financial services, including senior positions at HSBC, the Canada Pension Plan Investment Board, RBC Financial Group and Sol Petroleum. PROVEN Bank is part of the PROVEN Group, which is listed on the Jamaica Stock Exchange and operates across seven Caribbean jurisdictions. Salmon replaces Stacy Belnavis, who stepped down in June.

Cuba opens more of its economy to private business

Deepening economic crisis

Cuba has introduced new market-oriented reforms as the country faces a deepening economic and tourism crisis. The changes will allow private travel agencies and independent tour guides to operate. They also remove the requirement for private companies to hire workers through state agencies and simplify the process of opening foreign bank accounts. The reforms follow a 62-percent decline in international visitor arrivals between January and July 2026. Cuba recorded approximately 419,000 visitors during the period.

Dangote Refinery launches US$1.6B IPO

Africa's largest ever share sale!

Nigeria’s Securities and Exchange Commission has approved the initial public offering of Dangote Petroleum Refinery. The company will offer 4.1 billion shares at 525 naira each. That is approximately 40 US cents per share. The minimum subscription is reportedly 10 shares, equivalent to approximately four US dollars.

The offer is expected to open on September 14 and close on October 13, with trading on the Nigerian Exchange expected to begin in November. The IPO could raise approximately US$1.63 billion, making it Africa’s largest-ever share sale.

The refinery cost approximately US$20 billion to build and currently processes about 700,000 barrels per day. Dangote plans to invest an additional US$14.3 billion to double capacity to 1.4 million barrels per day by 2029. The refinery reported a US$1.82-billion profit for the first half of 2026, compared with a US$476-million loss in the previous year.

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