Nigerian company acquires Priority Loss Adjusters
NIGERIAN business development firm Courteville Business Solutions PLC has acquired motor damage assessment and valuation Priority Loss Adjusters (PLA), in a deal that will result in up to J$300 million in investment over the next three to five years.
The investment comes after two years of negotiations facilitated by the Jamaica Promotions Corporation (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.
Executive Director of Project and Strategy at Courteville Femi Niyi stated in a news release from JAMPRO that 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.”
According to Niyi, 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.
CEO of Priority Group International Ltd Denis St Bernard went into talks with Courteville on a trade mission more than two years ago. The CEO has welcomed the divestment of Priority Loss Adjusters — which is owned by Priority Group International Ltd — noting the importance of investment opportunities for Jamaican small businesses.
“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,” he stated.
President of JAMPRO Diane Edwards lauds the investment, saying it shows that interest in Jamaica’s business brand is growing internationally. She stated that a variety of large and small projects in Jamaica are lucrative and holds great potential, however, investors must be made aware of such projects.
“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,” she said in the release.
-Jamaican Observer , Wednesday May 20 2015