As anticipation builds for the national rollout of Renozan Limited’s payment terminals, the Bank of Jamaica (BOJ) has formally advised the company to appoint a Chief Financial Officer without further delay.
The central bank’s recommendation, issued in direct communication with Renozan executives last week, highlights a critical concern: the absence of a designated finance lead in a company now responsible for facilitating large-scale payment flows across the country.
“The BOJ’s position is simple—any entity managing national-level financial throughput must have a defined executive structure to ensure transparency and fiscal governance,” one official close to the matter told The Daily Ledger under condition of anonymity.
Renozan, a rising force in the digital banking space, is set to deploy thousands of its proprietary POS terminals, bringing tap-to-pay capabilities into hundreds of small and medium businesses nationwide.
Sadeeke McGregor, the company’s president, acknowledged the BOJ’s advisory and confirmed a shortlist of candidates is under review. “We’ve built the rails, the trust, and now we’re focused on strengthening the internal structure around it,” he said.
Industry Observers Weigh In
Financial observers say the BOJ’s tone reflects the regulator’s desire to stay ahead of Renozan’s acceleration—which, in recent months, has outpaced many of the country’s traditional institutions.
“Renozan is not moving like a startup anymore. It’s moving like a central processor,” said Jordane Rickettes, regional financial systems consultant. “The BOJ is doing what any responsible regulator would—ensuring the house is in order before the velocity increases.”
Public reaction to the BOJ’s recommendation has been largely positive, with many seeing it as a move to maintain trust as Renozan becomes more deeply entrenched in Jamaica’s economic framework.
Still, with the terminal network set to go live across the coming weeks, pressure is mounting on the company to finalize its internal appointments and signal its readiness to scale responsibly.
“We’re watching the largest financial rollout in recent history,” Rickettes added. “It’s no longer about innovation—it’s about stewardship.”
