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“DIASPORA GROUP INVESTS IN LOCAL BEE
INDUSTRY”
KINGSTON – June 13, 2008 – The
Boston Diaspora Ventures LLC (BDV), an investment group created by Jamaicans
living in Boston, will be entering a collaborative business venture with the All Island Bee Farmers
Association (AIBFA), the industry’s official advocacy group, when it signs a
Memorandum of Association (MOA) on Monday, June 16 at the Jamaica Conference
Centre. The signing, which will be attended by Agriculture
Minister Dr. Christopher Tufton, and Permanent Secretary Donovan Stanberry will
take place during the Third Biennial Jamaican Diaspora Conference scheduled to
run from June 16-17.
In
2006, the AIBFA announced a 7 year plan which seeks to create a coordinated,
market driven, commercially and environmentally sustainable beekeeping industry
in the island. The organization acknowledged the challenges such an ambitious
plan presented; the main concern of which stemmed from the unavailability of
funds to finance such a program. The association viewed the opening of a
bottling plant in Linstead as a key component to boosting its production output
and accomplishing its long-term objectives.
The establishment of the Jamaican
company, Logwood Distribution Ltd., signalled an important step in the joint venture
between BDV and AIBFA. By the terms of the agreement,
the AIBFA and BDV will co-own Logwood. BDV will provide the working capital,
renovate and operate the bottling plant, obtain the requisite certifications
for the property, purchase honey from bee-farmers, process, bottle and market honey
for the benefit of both Jamaican bee farmers and investors.
Through its partnership with
AIBFA, the BDV is hoping to encourage growth inbee farming,
provide
training and materials for youth interested in becoming apart of the industry, generate
much needed foreign exchange for the country through the sale of honey on the
international market and also encourage the Diaspora to seek out and support other
worthwhile ventures in Jamaica.
“Small
business industries, such as honey farming, are set to become a driving force
in the rebuilding of the Jamaican economy”, said Winfield Murray, AIBFA President.
“We believe that this partnership is crucial to accomplishing our objectives of
significantly increasing production and become internationally competitive.” he
concluded.
ABOUT
THE AIBFA
The All Island Bee Farmers
Association (AIBFA), comprised of 12 parish
bee-farming organizations, was established in 1989 in an effort to strengthen
the local industry. The AIBFA’s primary objectives include encouraging
production and cooperative marketing among its members, coordinating beekeeping
programs, training, supplying equipment and materials to farmers and advocating
on their behalf.
ABOUT
THE BDV
The
Boston Diaspora Ventures LLC (BDV), a Massachusetts Limited Liability Company, was
organized by Jamaican expatriates living in the Boston area. Inspired by Dr. Kenneth I.
Guscott, the Jamaican Honorary Consul for the Boston area, the group is committed to assisting Jamaicans and
Jamaican organizations in the island to gain access to markets and
opportunities globally.
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