In early 2019, the Jamaica Stock Exchange (JSE) launched an initiative called the Jamaica Social Stock Exchange (JSSE). We’ve got the basics about what it is, why it was launched, who is it for, how to participate and more.
What is the Jamaica Social Stock Exchange (JSSE)?
The Jamaica Social Stock Exchange (JSSE) is a special exchange of the Jamaica Stock Exchange (JSE) It is for entities that operate to provide a benefit to society. These include non-profit organizations and businesses operating as social enterprises.
Why is there a Jamaica Social Stock Exchange (JSSE)?
The Jamaica Social Stock Exchange (JSSE) was set up to leverage the Jamaica Stock Exchange’s (JSE) record of global excellence to help mobilize social capital.
The objective is to efficiently connect entities engaged in executing economic, socio-cultural and/or environmentally responsible projects and programs, to parties interested in participating in economic, socio-cultural and/or environmentally responsible activities in the start -up, implementation, maintenance and expansion of social projects and programs.
Does a person donate or invest via the Jamaica Social Stock Exchange (JSSE)?
Both.
In the current phase of Phase 1, the JSSE is a platform for donations.
In the future phase of Phase 2, the JSSE will provide a platform for impact investing.
- CURRENT: Phase 1 – Donation – is augmented crowd-funding. You can donate as you would to any other site, except for a key benefit – the Jamaica Social Stock Exchange (JSSE) carefully selects the organizations and projects that can seek funding via its platform and then the JSSE will monitor, evaluate and report on the projects once successfully funded, i.e. “listed”. In Phase 1, organizations and projects are seeking donations by donors who contribute to a social benefit. There are no stock prices to follow nor will a financial return provided to the donor.
- FUTURE: Phase 2 – Impact Investing – will function more like the Jamaica Stock Exchange (JSE) Main and Junior Markets but will be limited to companies that operate for social benefit. In Phase 2, the entities are seeking investment by social investors who not only contribute to a social benefit but are also expected receive a financial benefit through increase in stock value and/or dividend.
Which organizations are now raising funds through the Jamaica Social Stock Exchange (JSSE)?
At present, five (5) organizations and their projects have been selected by the Jamaica Social Stock Exchange (JSSE) for funding via the platform.
The selected organizations provide significant social benefits through education, empowerment and employment for a wide cross-section of Jamaicans – across the island and for varying age groups and abilities – through their projects.
The organizations are:
- Agency for Inner City Renewal (AIR) (the JaMIN Tours division)
- Alpha Institute
- Choose Life International
- Deaf Can!
- Spring Praise Jamaica
How can a person or entity donate to these organizations?
Here are the ways that you can donate to these organizations via the Jamaica Social Stock Exchange (JSSE):
- Online here at the Jamaica Social Stock Exchange website
- Cheque
- Cash
Can my organization raise funds through the Jamaica Social Stock Exchange (JSSE)?
When this pilot phase has been successfully completed, any social enterprise or locally registered entity in civil society – with a technically and financially viable project/program with a social mission that will solve a social or environmental need – can apply.
For more information, visit this link on the Jamaica Stock Exchange website
