April 21, 2025 – Kingston, Jamaica
The Bank of Jamaica (BOJ) has formally urged Renozan Limited to appoint a Chief of Finance as the company prepares to launch its nationwide terminal rollout in a matter of days.
The request comes amid heightened regulatory oversight surrounding the digital banking firm’s rapid expansion, particularly its move to deploy thousands of digital POS terminals across pharmacies, supermarkets, and retail stores islandwide.
BOJ officials cited the need for “appropriate financial oversight and accountability” as Renozan transitions from a fintech disruptor into a full-scale digital bank with embedded payment infrastructure.
While the company has already been operating with internal financial protocols, the BOJ emphasized the importance of assigning a designated finance executive to interface directly with the central bank on matters of liquidity, capital reserves, and transaction flows linked to the terminal network.
Renozan, led by President Sadeeke McGregor, has confirmed it is reviewing candidates and will comply with the BOJ’s recommendation. In a brief statement, McGregor noted, “We welcome all guidance from the Bank of Jamaica as we continue to strengthen the financial architecture of the nation.”
The terminal rollout—featuring tap-to-pay functionality, merchant credit access, and card issuance—is scheduled to begin within days, marking a critical milestone in Jamaica’s financial evolution.
