Joe Issa Joins Board Of National Insurance Fund

Certified Public Accountant (CPA), Ocho Rios businessman Joe Issa, has been called to serve on the 12-member Board of Directors of the National Insurance Fund (NIF).

Issa’s academic and business achievements are believed to be behind the appointment to strengthen the efficiency and effectiveness of the NIF, which was established under section 39 of the National Insurance Act.

As a Director of The National Insurance Board, an investment advisory board which has existed since 1990 to manage the investments of the NIF, Issa is said to bring expertise in key areas of the Fund’s operation including accounting, banking, investment, finance, real estate and some experience in legal affairs and the social sector as a civic leader.

Board of Directors NIF- Joe Issa

He is also believed to be capable of serving on any of the Board’s audit, investment and real estate subcommittees.

Issa’s well-known integrity and commitment are also said to auger well for the Board’s role in working closely with the investment secretariat located within the Ministry of Labour, in making recommendations to the Minister of Finance who, under the National Insurance Act has ultimate financial responsibility for the NIF.

Based on Issa’s accounting prowess he is believed to be well place to assist in the discharge of one of the most important responsibilities of the Board, which is to ensure good financial management reflected in the annually-audited financial statements.

According to Wikipedia, Issa attend College of the Holy Cross in Worcester, Massachusetts, USA, where he pursued an accountancy degree, which included one year at the London School of Economics (LSE) in the United Kingdom. He graduated in 1988 and Valedictorian Cum Laude with a number of awards, including the youngest resident Jamaican to become a Certified Public Accountant (CPA).

His enormous and credible success in building his Cool brand of companies that cut across several sectors of the economy and which are being leveraged globally will enhance the Board’s capability to protect the integrity of the Fund, adopt a positive and vigorous investment policy and diversify its asset holdings.

The Fund has a portfolio mix that includes money market instruments, equity and real estate, with which Issa is experienced as, in addition to his own investment successes, he has served on the Board of Directors of several large companies which include Supreme Ventures and First Global Bank.

Based on his vast investment experience, Issa is said to be well equipped to assist in a number of money market instruments which the NIF currently holds, including GOJ local registered stock (LRS), investment debentures, foreign currency bonds and deposits, GOJ land and infrastructure bonds, and short-term money market investments, as well as in equities – listed and unlisted shares and unit trusts – and real estate – commercial, resort and residential properties.

The NIF is funded by National Insurance Contributions and is the source from which pensions and other benefits under the National Insurance Scheme (NIS) are paid, according to the NIF website.

Joe Issa Shares National Honour With Family and Friends

Popular Ocho Rios businessman and philanthropist Joseph John Issa, CD received the insignia from the Governor-General of Jamaica, His Excellency The Most Honourable Sir Patrick Linton Allen, at the national honours and awards ceremony at King’s House on Heroes Day October 17, 2016.

Inspired by the words of late American journalist Charles Kuralt who once said “the love of family and the admiration of friends are much more important than wealth and privileges,” Issa has dedicated the medal to his family and friends.

Commander of Distinction- Joseph John Issa

“This is for my wife and children,” he says, as he holds up the insignia, adding, “especially my son and daughter whom I want to grow up believing that hard work and a good heart will pay off in the long run…it’s a proud moment for us…I am humbled by the recognition for doing what comes naturally to me.”

And to his many friends who have encouraged and supported him throughout the years, he says, “This is for you too…it’s a lasting manifestation of your contribution,” citing in particular, Father Howard James, a Roman Catholic Priest in the parish of St. Ann where Issa’s Cool Group of companies is headquartered.

Father James, who was born in London, England and raised in Jamaica, left the country as a boy and became the first Caribbean national to be ordained a priest in Britain. He met Issa in 1998 when he came to work in Ocho Rios as a priest. He says, “Joey always struck me as a kind, very generous and capable man.”  

Touched by Issa’s philanthropy over the years, Father James has several recollections, including the day his car broke down ten times and it became clear that the church needed a reliable vehicle. “Joey led the charge to get the money, most of it from him without any burden on the parish,” noting “this is the measure of the man.”

When Issa, who is also a Eucharistic Minister of the Catholic Church was about to get married in 2003, Father James had already left Jamaica, but Issa, who had kept in touch asked him to return to conduct the ceremony. He says, “The generosity of the man is such that he asked that a collection be taken at the wedding to help educate young people.”

“Joey did the same thing for his 50^th birthday celebration,” the priest also recalls, “when he told his friends and loved ones not to buy presents, but instead make a financial donation to the church to help the less fortunate and educate children.”

Issa’s many philanthropic gestures have also been praised by the media in Jamaica and the United Kingdom where, as a student at the London School of Economics (LSE) he founded the ‘Educate the Children Fund’, which raised over £3,000 to purchase Mathematics and English textbooks for students in Jamaica and other Caribbean islands.

When he returned from university he established ‘Global Education 2000’, which focuses on improving the physical condition of schools, increasing literacy among young children and fostering better relations between schools and the communities in which they exist, and with their counterparts in the United States (US). Since then, several local schools and teachers have benefitted through exchange programmes with US counterparts.

Issa also founded the ‘Cool Charities/Holy Cross Scholarship Fund’ which, along with other educational programmes, has been described by the Jamaica Observer as “a cool half million a month to education.” According to the newspaper, the scholarship programme also includes ‘Computers 3000 Education’, a project which donates air conditioning units and computers to educational institutions, thereby making for a more comfortable learning environment and giving more students access to the worldwide web.

Today, Issa’s philanthropic quest for less fortunate Jamaican children to receive a good education, to which he was privileged, continues through Cool Charities, a subsidiary of his multi-faceted group of over 50 companies, which defines his business strategies that have been likened to those of his colleague Sir Richard Branson’s Virgin Group of over 400 companies, whose ‘Centre of Entrepreneurship – Caribbean’ located in Montego Bay Issa supports as a mentor for young entrepreneurs on the programme.  

A highly recognized multi-award-winning business strategist locally and internationally, where he is leveraging his Cool Group, Issa’s national honour is as much for his contribution to Jamaica’s business landscape partly through his presidency of the St. Ann Chamber of Commerce, as it is for his corporate citizenship, which Father James seems to value even more.

Says he: “While many will speak about his business skills, I speak to the good husband and father, churchgoer and philanthropist. He has never said no…I try not to bother him too much, but he has told me never to be afraid to ask him for help for others. So I believe it was only right that a national honour should be given to him so that everyone can know about the generosity of this very kind man.”

Not known to get carried away by his own success and wealth, allied with his desire to contribute to the education of children, Issa finds much comfort in a quote by late 19^th century teacher, attorney, soldier, writer and Freemason Albert Pike from Boston, Massachusetts, where Issa studied at College of The Holy Cross in Worcester, graduating valedictorian and cum laude while becoming Jamaica’s youngest Certified Public Accountant (CPA).

Self-taught with the distinction of being the only Confederate military officer with an outdoor statue in Washington, D.C., Pike’s sentiment resonates with Issa when he wrote,  “What we have done for ourselves alone dies with us; what we have done for others and the world remains and is immortal.”

Today, 125 years after his death, the Albert Pike Memorial Temple in Little Rock, Arkansas is a historic Masonic lodge listed on the National Register of Historic Places, according to Wikipedia.

Joe Issa Appointed To Chair SADCO Board

Successful Ocho Rios businessman and Philanthropist Joe Issa, has been appointed to head the Board of Directors of The St. Ann Development Company (SADCo), which manages some of the assets of the Urban Development Corporation (UDC) in the parish.

Issa’s appointment is believed to be based on his tremendous knowledge of the parish, his brand-building capability, his business and accounting acumen and his wide and deep experience in industrial development issues, particularly in the tourism industry.

Board of Director SADCo- Joey Issa

Like its parent company, the UDC, SADCo’s assets are primarily in the form of land and building. The SADCo assets which Issa is being called upon to lead their development, management, growth and protection include Dunn’s River Falls, which is a national treasure and a global brand.

Other assets on Issa’s watch list are: the popular Green Grotto Caves, the Ocho Rios Bay Beach also known as Turtle Beach near the Cruise Ship Pier, Turtle River Park at the entrance of the town,  Pearly Beach, Laughing Waters, Roaring River, Malvern Park Property, the Ocho Rios Craft Market, and some undeveloped lands.

According to one observer, “Issa is a go-getter and as such, is well placed to realize the core business objective of the parent company, which is to make development happen through the planning and implementation of comprehensive development projects and programmes.”

Issa, who is said to have demonstrated strategic management capabilities through the SuperClubs chain of all-inclusive resorts which he helped grow and the establishment and growth of his Cool Group of over 50 companies, is also a best fit in the pursuit of SADCo’s strategic objectives of assuring its financial viability and solvency and improving its business and operational efficiency and service delivery to customers.

Additionally, Issa’s sense of corporate responsibility and philanthropic character shown through his Cool Charities subsidiary which continues to give back to communities in St. Ann and the nearby parish of St. Mary, as well as his much-praised leadership as President of the St. Ann Chamber of Commerce and as a member of its Past President Advisory Committee, augers well for the maximization of SADCo’s social impact and contribution to the development of St. Ann.

As a sociable person who is well-known for hosting local and foreign luminaries including prime ministers, celebrities and even royalty, Issa has demonstrated integrity, accountability and transparency in his social life and business dealings, which have earned him several local and international awards and the admiration of the Jamaican media.

With these social and business characteristics, Issa is believed to be well positioned to showcase the corporate values and philosophy of SADCo, which are people centered in its delivery of services and commitment in making development happen for Jamaicans, while nurturing a culture which values both internal and external customers.

Issa’s persona is also said to be consistent with what the UDC believes in, such as quality, employment of the highest standards in the timely and efficient delivery of products and services, bench-marking operations against international practices, accountability, transparency, taking responsibility for its actions, and open and frequent communication with clients and stakeholders.

According to its website, the UDC has a combined asset base of some $41 billion dollars and is one of the leading urban and rural development agencies in the Caribbean. Since 1968, it “has sought to transform Jamaica’s most viable urban centres and strategic rural towns, whilst preserving the natural environment and spurring economic development.

“The Corporation often seeks investment partners to conquer the new frontiers of development, for example Heritage Tourism. Areas such as the Spanish Town Historic District, Port Royal, Falmouth and Port Antonio offer tremendous scope for development to meet the future needs of Jamaica.”

The UDC is currently working in five areas namely Kingston and Port Royal; Caymanas, St. Catherine; Ocho Rios, St. Ann; Falmouth, Trelawny; and Montego Bay, St. James to produce and implement development plans. 

PICA Advisory Board Has New Chairman

The Advisory Board of the Passport, Immigration and Citizenship Agency (PICA) has a new chairman – businessman and philanthropist Joseph John Issa CD, JP, CPA

Better known as Joe Issa, Executive Chairman of Cool Corporation the hugely successful Ocho Rios businessman is believed to have the necessary character, skills and qualifications to lead the Executive Agency, whose core values include accountability, integrity, professionalism and customer service.

Issa who, according to the North Coast Times has a long history of civic involvement, most notably as President of the St. Ann Chamber of Commerce where he left a legacy of great leadership and advocacy, and more recently as a current member of its Past President Advisory Committee, is no stranger to advocating accountability and integrity in governance.

 PICA Advisory Board Chairman- Joseph John Issa

One well-known case came ahead of the October 16, 2002 general election when, as part of a move to engender accountability in governance, Issa suggested that candidates pledge the delivery of two or three things considered a priority by the constituents, within a specified period of coming into office, in exchange for their votes.

The idea, which became known as “The Issa Initiative” was supported by both the JLP and PNP, as well as the island’s Chambers of Commerce. Despite not being implemented by the political parties, Issa’s idea was famously praised for its landmark quality.

Calling it “a watershed in Jamaica's political culture” The Gleaner newspaper said, “The proposal from Joe Issa of the St. Ann Chamber of Commerce, which was taken up by the island’s Chambers of Commerce has the potential of bringing about a change in the relationship between constituents and their elected representatives.”

Issa has also sought to bring integrity into governance, when he publicly suggested that politicians should be paid more money in order to discourage them from accepting bribes. He also brings to the PICA board table great accounting skills.

As a Certified Public Accountant (CPA), Issa was Jamaica’s youngest accountant and made history by passing all four parts of the accountancy examination in one sitting, earning him several awards by the accounting fraternity in Massachusetts, USA where he studied and the admiration of the Mayor of Lauderhill, Florida, who gave him the Keys to the City.

His skills as a turn-around strategist in his father’s SuperClubs chain of all-inclusive resorts did not only earn him several international awards, including “Young Hotelier of the World 1994” by the International Hotel Association, but also, the respect of the local media. He was awarded “Tourism’s Brightest Spark” by the Jamaica Observer newspaper in 1999, and was among its top 10 Jamaican personalities that year.

Issa’s success in building his Cool brand of over 50 companies that are being leveraged internationally also did not go unnoticed. In July 2001 and March 2005, he was praised for his business leadership by The Gleaner and Business Observer, respectively. 

Issa’s brand-building, international-travel, technology-centered and service-oriented experience are believed to be a plus factor that will help PICA become a world-class organization, whose functions are integral to Jamaica’s border security system, in accepting and processing passport applications, managing the country’s immigration processes and handling matters related to application for and renunciation of Jamaican citizenship, while his strategic management expertise should enhance PICA’s aims to provide efficient, quality service through a well-motivated and knowledgeable staff.

Similarly, Issa’s accounting and management experience auger well for leading the executive agency in the achievement of its major objectives of becoming a self-financing, performance-based and service-oriented institution, and meeting its targets of processing passengers at ports in no more than two minutes, passport applications submitted to its Kingston offices within seven days and 14 days for those made through its Montego Bay office, and local applications for Jamaican citizenship by descent within 30 days, according to its website.

On June 1, 2016 the cost of a regular adult passport went up from $4,500 to $6,500, while the passport for a minor increased from $2,700 to $4,000. At the same time, replacing lost passports for adults cost $11,500 (up from $9,500) and $7,000 (up from $5,700) for minors.

PICA, which became an executive agency on June 1, 2007 evolved from the former Immigration, Citizenship and Passport Services Division of the Ministry of National Security following a modernization programme which started in 2005. The organization has since introduced debit and credit card service for ease of transactions, next-day and three-day expedited services, and a mobile service for passport application.

It conducts incoming and outgoing immigration examination of all persons entering or leaving Jamaica by air and sea; it administers visas, entry permits and other documents for non-Jamaican visitors and residents; handles requests for permanent residency status; manages the deportation and repatriation of those persons not qualified to remain in Jamaica; as well as handles matters relating to refugees to the island.

The executive agency’s operations are said to be governed by the Jamaican Constitution, The Immigration Restriction (Commonwealth Citizen) Act, The Jamaica Nationality Act, The Alien’s Act, The Passport Act and Regulations, The Foreign Nationals and Commonwealth Citizens (Employment) Act, The Caribbean Community (Free Movement) of Skilled Persons Act, The Executive Agencies Act 2002, and The Financial Administration and Audit Act.