CBR
search

Deaf Can! Coffee is first company to list on Jamaica Social Stock Exchange

Deaf Can! Coffee became the first fully funded project on the Jamaica Social Stock Exchange (JSSE) when it was announced that the NCB Foundation would be fully funding its expansion project.

A Deaf Can barista with a customer. (Photo: zeroproject.org)

The announcement was made by managing director of the Jamaica Stock Exchange (JSE), Marlene Street Forrest, at its 15th Regional and Investments and Capital Markets Conference last week.

Deaf Can! Coffee was established in 2015 and is a social enterprise that trains young people with hearing impairments to become professional baristas.

“It will engage the financial sector and the entire economy of the country towards a greater good, which encompasses sustainable development with people at the centre…”

– The Jamaica Stock Exchange

The donation to the non-profit coffee company is valued at approximately J$7.5 million and will be used to expand a farm it has in Manchester.

Responding to the announcement on its Instagram page, the Deaf Can! Team said it was “humbled at the support of so many” thanking Jamaica’s Prime Minister, Andrew Holness, and NCB, among others, for their support.

Deaf Can! Coffee employees at one of its executions. (Photo: Twitter: Deaf Can Coffee)

The social exchange was established to “engage the entire Jamaican economy in promoting the social capital market, believing that true development of any country happens in all areas of life and facets of society”, according to its website.

Further, the JSE site says “It will engage the financial sector and the entire economy of the country towards a greater good, which encompasses sustainable development with people at the centre, growing the social economy, which is now approximately 3.5 per cent of Jamaica’s US$17 billion economy, largely comprising “Not for Profits” or NGOs.”

A Deaf Can! Coffee barista (Photo: unicef.org)

The JSSE website gives a target of J$31.3 million as the target to support currently listed initiatives.

Companies wishing to list on the JSSE must be registered as a non-profit organisation or with the Companies Office of Jamaica.

Corporate donors to date include Proven Wealth, NCB Capital Markets and the JN Foundation.