Orane's proposals for economic renaissance

Orane

SENATOR DOUGLAS Orane, chairman and chief executive officer of Grace, Kennedy has suggested a number of ways in which members of the Jamaica diaspora could assist Jamaica to achieve an economic renaissance.

These include - supporting Jamaican brands; using the services of Jamaican companies directly, as well as those who have strategic alliances with overseas companies; saving and investing through Jamaican financial institutions; and investing in companies listed on the Jamaica Stock Exchange.

He was speaking at the Inaugural Conference of Jamaica Impact Inc. (JamPact) in Brooklyn, New York on May 13.

"Your support and assistance for Jamaica and Jamaican initiatives are vital if, as a small and vulnerable nation, we are to successfully navigate the turbulent international waters which surround us," he told his audience.

"Never doubt that a small group of thoughtful committed citizens can change the world; indeed it is the only thing that ever has," he quoted the late renowned anthropologist, Margaret Mead.

In keeping with the theme of the conference being "Creating an Economic Renaissance in Jamaica", Senator Orane was asked to describe what Grace, Kennedy's role was in contributing towards this process and how members of JamPact might make their contributions.

According to Senator Orane, Grace, Kennedy's considered response to the dynamic and changing environment in which it found itself operating after liberalisation and the onset of the globalisation was to draw up a document setting out the company's objectives, and the policies which it would pursue to enable it to meet its targets by the year 2020. This document whose contents were exhaustively discussed at all levels of the company has set a course of action and targets which are being realised. As an example, Senator Orane cited the Company's goal to double productivity of every employee between 1996 and 2000 which was regarded with some scepticism when it was announced. After four years, he pointed out that productivity has increased by 80 per cent across the group.

Progress

Steady progress is being made towards another target to earn 50 per cent of the company's profits outside Jamaica. In working towards this goal, the first thrust was to position Grace as the global brand which will, in the first instance, meet the needs of Caribbean communities wherever they exist.

In this area, achievements to date include

Expected sales of US$20 million in 2000 up from US$12 million in 1997.

Significantly increased sales to mainstream supermarkets. In Canada almost 30 per cent of sales is now through mainstream supermarkets.

A major breakthrough has come in the Canadian market with Grace, Kennedy being approached by National Grocers to have Grace products listed in 200 of their stores across Canada including Loblaw's.

Senator Orane said that with the launch of Grace Jerk Barbecue Sauce, the company had achieve a landmark as this is the first Grace brand product to be stocked on the mainstream shelves of supermarket chains in the U.S., Canada and the U.K. in the barbecue sauce section. He told the audience that the sauce would be in 1,486 supermarkets in the U.S., Canada and the UK this summer.

He went on to describe other areas where Grace, Kennedy companies were moving into the international arena, particularly in making life hassle free for overseas Jamaica. These include Grace Remittance Services; its foreign exchange trading house, F/X Trader; its merchant bank, George & Branday offering services in savings and investment and its hardware chain, Rapid & Sheffield which offers special services to overseas customers.

JamPact is a recently formed non-profit organisation consisting of a diverse group of Jamaican professionals, students and friends of Jamaica whose philosophy is to use their collective energies, intelligence and resources as an impetus for progress in Jamaica. The organisation states that one of its main goals is to make positive contributions towards the improvement of social and economic conditions in Jamaica.

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