More than two dozen entities identified for JSE Micro Market, says Williams

KINGSTON, Jamaica—An initial group of 25 entities that have successfully graduated from the Jamaica Business Development Corporation’s programme has been identified as primary candidates for the Jamaica Stock Exchange Micro Market that was launched on June 23.

“These businesses have already demonstrated a level of operational discipline and growth readiness. This wide-ranging collaboration will ensure that the pipeline of prospective issuers is diverse, geographically spread, and representative of the breadth of Jamaica’s MSME sector,” said Finance Minister Fayval Williams.

She was speaking Tuesday in the House of Representatives where she provided an update on the micro market.

She said micro market entities will be allowed to raise capital from J$50 million to a maximum of $100 million. Based on public participation requirements, there must be at least 20 per cent public shareholding, with at least 50 new shareholders, including the sponsor.

Williams said provisions will be made to allow the listing of micro entities which are associated with junior and main market companies as a necessary provision to promote the role of sponsors in building stronger supply chains and facilitating wider participation in the formal economy by MSMEs.

The finance minister shared that micro market entities will only require an audit committee, will be required to file semi-annual unaudited reports within 60 days, have 12 months audited statements within 90 days, and annual reports within 120 days of the year end.

They will be required to transition to the Junior Market once they reach the capital threshold of J$100 million.

Williams told the Parliament that a critical component of the programme’s long-term success is the establishment of a Stock Market Sandbox — a simulated market environment designed to prepare businesses for the realities of operating as a publicly listed entity.

“The sandbox will expose prospective issuers to the reporting obligations, corporate governance standards, and regulatory expectations they will face once listed. The sandbox will provide a low risk setting that allows potential listed companies to learn, adapt, and build capacity before entering the live market,” she explained.

“This innovation is expected to significantly improve the quality and readiness of businesses entering the micro market, reduce compliance failures post-listing, and create a sustained, well-prepared issuer development pipeline for years to come,” Williams added.

The finance minister said the JSE Micro Market represents a transformative opportunity for Jamaica’s micro and small enterprise sector.

“By lowering barriers to capital, equipping businesses with the tools and knowledge to participate in formal markets, and building a robust pipeline of market-ready issuers, this initiative positions Jamaica as a regional leader in MSME financial empowerment,” Williams said.