KINGSTON, Jamaica – In a significant development within Jamaica’s financial sector, Supreme Ventures Limited (SVL) has confirmed preliminary negotiations regarding the strategic divestiture of its subsidiary Evolve Loan Co’s loan portfolio and select assets to microcredit specialist Dolla Financial Services Limited.
The proposed transaction remains contingent upon securing regulatory consent from the Bank of Jamaica, the nation’s central banking authority, alongside the definitive settlement of contractual terms between the involved entities.
SVL’s corporate communications characterize this maneuver as a sophisticated capital management strategy aimed at portfolio optimization and mitigation of concentrated credit exposure. Post-transaction execution, Evolve Loan Co is poised to transition toward an asset-light operational paradigm, centering its business model on digital service provision and loan origination capabilities rather than portfolio retention.
Conversely, Dolla Financial Services anticipates substantial strategic benefits from this acquisition, projecting significant expansion of its microcredit market penetration and enhancement of its comprehensive lending infrastructure.
Kenroy Kerr, Group Chief Executive Officer of Dolla Financial, emphasized the transaction’s transformative potential: “This acquisition stands to positively recalibrate our loan book through improved compositional balance, accelerated scaling opportunities, and amplified growth trajectory.”
Notably, the arrangement includes SVL maintaining a 15% equity participation in Dolla Financial, thereby retaining financial exposure to the portfolio’s prospective performance while simultaneously realizing immediate capital reallocation benefits.
Gary Peart, Executive Chairman of Supreme Ventures, framed the transaction within broader corporate strategy: “This disciplined capital reallocation demonstrates our unwavering commitment to shareholder value enhancement. We simultaneously fortify the group’s financial stability while preserving strategic positioning for long-term value appreciation.”