KINGSTON, Jamaica – David Mullings, chairman and CEO of Blue Mahoe Capital, expressed his ambitious plans to list on the NASDAQ later this year and then list two entities on the Jamaica Stock Exchange (JSE), each offering unique investment opportunities to retail investors.
“The first is a US Property Fund, providing Caribbean residents unprecedented access to US Real Estate and Income and an actively managed Exchange Traded Fund with a concentrated portfolio using the same investment approach as the hedge fund I previously worked at in the USA,” said Mullings.
Mullings shared his intent during the inaugural staging of BizCon: Innovation and Financing Conference for MSMEs held at the Jamaica Pegasus on April 23, 2024.
The BizCon Conference, spearheaded by Mohan Beckford, chief vision officer of Next Step Digital Solutions, brought together entrepreneurs from the micro, small, and medium-sized enterprise (MSME) sector. According to Beckford, the concept behind BizCon grew from a need to provide MSMEs with an ecosystem to grow and scale and to facilitate networking among businesses.
“I wanted to grow as a budding entrepreneur, but I faced numerous challenges as I sought the information and resources I needed to be successful. I took the learnings I received from setting up similar business operations in Canada, which were supported by a robust ecosystem in the truest sense of the word, and moulded them into BizCon. BizCon is a knowledge space to help Jamaican entrepreneurs stay in business beyond for years to come. After comparing the ecosystem that supported entrepreneurs here and in Canada, I realized that the Canadian policymakers and private sector leaders had come together and designed a set of services required for a small business to survive its first and second years. BizCon is one part of our local ecosystem and is a space to assist MSMEs to grow and scale,” Beckford said.
Beckford pointed to the importance of MSMES forging strategic relationships with successful entrepreneurs. “I am delighted to have shared the stage with successful entrepreneurs like David, who freely imparted their knowledge, expertise and insights to fuel innovation and drive progress among MSMEs. Entrepreneurs also received invaluable learnings from those who have walked the path already and those poised to help move their businesses to new levels,” shared Beckford.
Mullings, one of the keynote speakers, delivered an inspirational fireside chat moderated by communication specialist Brithney Clarke. During his session, Mullings shared snippets from his entrepreneurial journey with the audience, highlighting steps to success and also briefly sharing the upcoming plans for Blue Mahoe Capital.
“The perception is that the population of the region is very small, so there’s not much money to be made here, but that’s not true. The reality is billions of dollars are flowing through the region, so there’s an opportunity as multi-nationals are based in the Caribbean,” said Mullings.
Mullings continued that his company is doing more than taking advantage of investment opportunities within the Caribbean; it is also providing training for more investors so they can take advantage of these opportunities. “It is critical that Caribbean retail investors get access to global investment opportunities and overcome their home bias in order to generate diversified returns,” expressed Mullings.
Mullings indicated that with Jamaica’s Stock Exchange being celebrated by Bloomberg as the world’s best performing stock exchange in 2018 and the best-performing stock exchange over the 5-year period from 2013 to 2018, besting Vietnam and the USA, investors are actively seeking a guide to help them navigate these lucrative waters.
BizCon Featured Presenters
There were also presentations from local and international experts, including Mullings, Mark Stewart, Chief Executive Officer of Wentworth Strategy Group, Canada; Herbert Hall, founder and chief investment banking consultant of Ambassador Capital; Eldred Garcia, senior vice president of business and partner development of First Atlantic Commerce; Dr Marlene Street Forrest, Managing director, Jamaica Stock Exchange; Chukwuemeka Cameron, founder, Design Privacy and Ricardo Durrant, export promotions manager, Jamaica Promotions Corporation, JAMPRO.
Beckford is confident that MSMEs have the potential to become the foundation of the domestic and global sustainability agenda. The next staging of BizCon is slated for2025.
