Nigerian business development firm Courteville Business Solutions PLC has announced its acquisition of the motor damage assessment and valuation arm of Priority Group International Ltd, Priority Loss Adjusters (PLA), in a deal that will result in up to J$300 million investment over the next 3-5 years.
The investment comes after 2 years of negotiations facilitated by JAMPRO and the Jamaican High Commission in the United Kingdom. Courteville, one of Nigeria’s leading business solutions companies, will focus on providing services and solutions to enhance Jamaica’s development potential especially in the IT and Business Solutions sectors. The company will be placing specific emphasis on MSMEs.
Femi Niyi, Executive Director, Project and Strategy at Courteville said the company was attracted to Jamaica due to its rising business reputation globally and the historical connection between Nigeria and Jamaica. “We have a mutual fate, it is in our mutual interest to better ourselves to move on. This (Jamaica) is the place we can work together.”
He said that Courteville’s services have shown a strong trickle-down effect in Nigeria for employment, indirectly providing over 12,000 jobs. The company hopes to replicate the concept in Jamaica and use IT to assist institutions with reinventing themselves and spurring economic development. “Our core competence is to look at a company’s business concepts and sit down with them and tell them how to use IT to make it more efficient. We hope to use our services to help Jamaica’s people and economy thrive,” he said.
Denis St. Bernard, CEO of Priority Group International Ltd., made the connection with Courteville on a trade mission more than 2 years ago. He has welcomed the divestment of Priority Loss Adjusters, noting the importance of investment opportunities for Jamaican small businesses. He said, “The tendency is to focus on big business, which is important, but what is also critical is the expansion of small businesses as Jamaica is all about SMEs. I hope that JAMPRO will continue to support small businesses and allocate even more resources to encourage investment in small and medium sized businesses.”
President of JAMPRO, Diane Edwards lauds the investment, saying it shows that interest in Jamaica’s business brand is growing internationally. “We have a variety of large and small projects in Jamaica that are lucrative and hold great potential, however, we must bring awareness of this to the investing public. Through our various missions and initiatives, JAMPRO will continue to show that this is the place for business and show the great opportunities that are available in Jamaica.”
JAMPRO welcomes this investment in Jamaica’s economy and will facilitate other opportunities for small and large Jamaican enterprises. The agency will continue to aggressively market Jamaica as the ideal regional location for investment and trade.
– www.go-jamaica.com, 14th April 2015