EduFocal gets new chairman
Seeks to reposition as tech company
Published:Wednesday | September 10, 2025 | 12:05 AM
Education services provider EduFocal Limited has appointed a new chairman and aims to publish its overdue 2024 audited financial report by October 10.
The stock remains suspended from trading on the Jamaica Stock Exchange until it resolves the breach.
Effective September 2, fintech professional Harry Campbell has taken over the role of chairman of the edtech company, which specialises in online learning. Campbell fills the slot left vacant by the resignation of insurance executive Peter Levy in June, after 12 years as chairman.
Levy is managing director of BCIC, which recently acquired JN General Insurance. A market notice indicated that he would be focusing on the transformation and integration and of the enlarged BCIC business.
EduFocal’s 2024 audited report is now more than six months overdue. The Educal stock, which trades under the symbol LEARN, was similarly suspended in 2024 for being late with the submission of its 2023 audited accounts.
Campbell has promised to be more communicative with shareholders about the challenges facing as it strategises on how to again become compliant with JSE filings.
“I am an incoming chairman, so I won’t tell you that we have all the answers right now, but we’re going to strategise the best way to ensure that we are compliant going forward,” Campbell said at the company’s extra-ordinary meeting held September 2.
“One of the key issues that we have already discussed, and I think you will already see a change in the right direction, is communication,” said the new chairman. “We just want to be very clear and incredibly transparent, irrespective of how we feel about what we are communicating. We will speak more, share more, but we’ll also listen more and absorb what you’re trying to tell us going forward.”
In its quarterly report for the January-March 2025 period, EduFocal generated flat revenue of $29.97 million, compared to the $30.01 million in the first quarter of 2024. The company reported a net loss of $1.34 million for the quarter, significantly narrowed compared to losses of $20.87 million in the first quarter of 2024.
In February, EduFocal CEO Gordon Swaby said the company was preparing for a rights issue later in the year to raise equity capital that will fund upgrades to its learning platform and to reduce the company’s debt.
Also at the meeting, the company amended its articles of association to increase the maximum number of directors from six to 10.
Swaby said the company had been reorganised and had become nimbler in its efforts to recommence trading on the stock market.
“In June we put out a notice about a change in the name of our divisions, changing from learn and business to our education division and commercial division. All of these are deliberate changes that we’ve used the time to shift the kind of company that we are. Obviously, we are still an edtech company, but we are shifting towards becoming a technology company,” Swaby said.