GRENADA-FINANCE-GRENLEC records multi-million dollar profit in 2021
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CARIBBEAN-FINANCE-CARICOM Central Bank governors meet in Bahamas
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Puerto Rico SMEs To Benefit From Expanded Access To Capital
Black Immigrant Daily News
By NAN Business Editor
News Americas, SAN JUAN, Puerto Rico, Fri. Nov. 4, 2022: Qualified SMEs in Puerto Rico will now be able to access more capital for growth.
Acrecent, a Sygnus company based in Puerto Rico, recently secured a US$34.8 million investment from global impact investment firms, BlueEarth Capital, Ceniarth, Calvert Impact Capital and Community Development Venture Capital Alliance, (CDVCA).
This investment will allow Acrecent to continue deploying critical financing to hundreds of SMEs in underserved sectors which are essential for the social and economic development of the island, such as healthcare, affordable housing construction, hospitality and renewable energy, among others.
James Connor, co-founder and CEO of Acrecent commented: “Having BlueEarth and Ceniarth join Calvert Impact Capital and CDVCA in our AFP impact fund inspires me to double down on our mission of addressing the chronic gap in access to credit for overlooked SMEs. I am confident the joining of forces will serve as a catalyst for other impact-centric LPs in the U.S. and other developed markets to play a role in addressing the gross underdevelopment of Puerto Rico’s non-bank, private capital/credit sector.”
As awareness of social responsibility expands and companies are increasingly under pressure to conduct their business responsibly, more investors are eager to generate both financial and social or environmental returns. Responsible impact investing produces a multiplier effect which allows capital to be re-invested sustainably throughout communities in need.
“The deepening of relationships with global impact investors by Acrecent highlights the continued growth and expansion of the Caribbean private credit market and reflects the strategic importance of Acrecent to SCI’s regional private credit platform,” said said Jason Morris, Chief Investment Officer of Sygnus Capital Limited, the investment manager for SCI. “Channeling capital through the impact investing channel aligns with Sygnus Credit Investments (SCI) mission to deepen access to credit for Caribbean middle-market companies, while accelerating equality of access to economic opportunities.”
Acrecent Financial Corporation, founded in 2003 and headquartered in Guaynabo, Puerto Rico, is a Sygnus Group company, and is a non-bank financial institution that provides asset-backed loans and leases to SMEs in Puerto Rico. The company is recognized as one of the leading players in the region due to its management’s broad expertise and track record, which reflects in differentiated impact through products offered to key sectors in the economy, such as healthcare, commercial real estate, and hospitality.
Sygnus is the Caribbean’s leading alternative investment management company spanning private credit, real estate and private equity. Sygnus manages Sygnus Credit Investments Limited(SCI) which is listed on the JSE and the largest Private Credit Investment company in the English Speaking Caribbean. SCI is a pioneering private credit investment company, which offers creative debt financing to middle market businesses across the Caribbean. Sygnus Real Estate Finance Limited (SRF) provides flexible capital (Debt or Equity) to all classes of real estate assets (commercial, industrial or residential). Sygnus Deneb Investments Limited (SDI) invests private equity capital in companies in the form of growth capital, buyouts and turnarounds. Sygnus also offers its clients Investment Banking, Wealth Management and Tax Advisory services.
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CARIBBEAN-BUSINESS-Caribbean bankers elect new Board
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CARIBBEAN-CLIMATE-Senior IMF official visiting Caribbean focusing on climate change, financing
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ST VINCENT-POLITICS- Outdated telecommunications act replaced with electronic communications act
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JAMAICA-MINING- Local company secures first shipment of construction grade limestone to US
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Invest Caribbean Invites Applications For A Cyber Security Grant
Black Immigrant Daily News
News Americas, FORT LAUDERDALE, FL, Fri. Oct. 28, 2022: Invest Caribbean, the global private sector investment agency of the Caribbean, is inviting applications from qualified English-speaking Caribbean nationals in the region or its Diasporas, for the Impact Caribbean Cybersecurity Grant Program.
The Impact Caribbean Cybersecurity Grant is a partnership with The Elizabeth Sloane Institute of Technology, (ESIT), and offers successful applicants the opportunity to be certified in the field of cyber security with a globally industry recognized cyber security certification.
Those approved will have the opportunity to join the communities of (ISC)², CompTIA, and Elizabeth Sloane Institute of Technology, (ESIT), a premier online higher education technology platform.
The grant will subsidize the cost of certifications such as CISSP, (Certified Information Systems Security Professional) education and examination at ESIT. Applicants must be citizens of the English-speaking Caribbean and can be living in the territory or located globally. They must have a degree in IT or experience in the field.
Successful applicants will receive highly subsidized training and examination cost, allowing them to become equipped with the abilities and tools to design, implement and manage a cyber security infrastructure effectively. They will also become a member of the (ISC)² and ESIT communities, unlocking a broad array of exclusive resources, educational tools and peer-to-peer networking opportunities.
“It is critical to support the upskilling of ICT professionals in the territories we serve,” said Melanie Wynter, the managing director of Elizabeth Sloane. “Data protection and cybersecurity have been at the core of all our digital solutions, and we don’t have the needed personnel.”
“Invest Caribbean is delighted to join in partnership with the Elizabeth Sloane Institute of Technology to offer this grant to qualified English speaking Caribbean nationals in the region and its Diaspora,” said Felicia J. Persaud, ICN’s founder. “It is critical that the Caribbean, where cyber security incidents continue to rise, expands its own human capital pool to address this global threat.”
The goal of the grant program, according to ESIT, is “to help Caribbean governments, the military, intelligence, telecommunication, private sector and the financial sector, address cybersecurity risks and threats to data protection through self-paced ICT upskilling.” The application process can take up to three weeks.
Certification programs, such as CISSP, are the first credentialled in the field of information security to meet the stringent requirements of ISO/IEC Standard 17024.
Applicants must complete the application HERE. Choose the C. Courtney Jackson scholarship when submitting the application.
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CARIBBEAN-TRADE-Caribbean brands stand out at international trade show in Paris
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BARBADOS-ECONOMY-Central Bank says Barbados economy recorded six consecutive quarters of growth
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