Uncategorized – Supreme Ventures Group

29Dec

SUPREME VENTURES FOUNDATION DELIVERS THE GIFT OF SAFETY TO MATTHEW 25:40 WITH DONATION OF FIRE ALARM SYSTEM

Kingston, Jamaica – The residents and caregivers at the Mustard Seed Community Matthew25:40 are feeling safer after the official handover of a state-of-the-art fire alarm and detection system donated by the Supreme Ventures Foundation.

The handover ceremony, held on December 16 marked a significant milestone in the Foundation’s ongoing project to equip children’s homes across the island with similar systems. Since 2019, fifty homes have received fire alarm systems courtesy of the Supreme Ventures Foundation.

“When we started on this journey in 2019, our main objective was to improve the well-being of children in State care by improving fire safety preparedness in homes. With the support of the Jamaica Fire Brigade and our partners T&D Safety Consultants, we’ve been able to equip 50 homes run by the Child Protection and Family Services Agency (CPFSA) and so we’ve achieved our initial target,” said Chloleen Daley-Muschett, Corporate Communication and PR Manager at Supreme Ventures Limited. “Doing this handover to Matthew 25 during the yuletide season feels extra special as this time of year there is usually an increased risk of fires. We’re very pleased to be giving the gift of safety to these young men and the administrative staff.”

In addition to the handover of the fire safety equipment and training conducted by the Jamaica Fire Brigade, the wards at the Mustard Seed Community were treated to a festive lunch and Christmas gifts including department store vouchers, mobile phones and other electronic devices. This initiative aligns with the Foundation’s broader mission to make a positive impact on the lives of individuals and communities.

“We understand the challenges faced by these young men in transitional living, and it is our hope that these gifts not only help to lift their spirits during the festive season but also support with making their entry into the world of work a bit smoother,” added Daley-Muschett.

In 2019 The Supreme Ventures Foundation signed an Memorandum of Understanding (MoU) with the Ministry of Education, Youth & Information for the upgrading of fire safety equipment in children’s homes across the island. The programme was launched by the foundation approximately one year to the date of the tragic fire at Walker’s Place of Safety that claimed the lives of two children.

07Mar

SVG SEEKS TO FUEL TICKET SALES THROUGH JGRA PARTNERSHIP

Supreme Ventures Uncategorized

Supreme Ventures (SVL) and the Jamaica Gasoline Retailers Association (JGRA) recently signed a Memorandum of Understanding (MOU) to give JGRA members the opportunity to sell SVL products at their service stations.

Speaking at the formal signing, Xesus Johnston, CEO of Prime Sports Jamaica Ltd, a member of the Supreme Ventures Group expressed his satisfaction with the agreement.

“We are pleased to finalize this agreement between Supreme Ventures and the JGRA as it promises to be beneficial for all involved. This partnership further underscores SVL’s support of small businesses as it gives local gasoline retail entrepreneurs the opportunity to add another revenue stream while potentially gaining new clientele through the SVL customers who may not have otherwise visited the service station. SV customers will now enjoy even easier access to our products through the widened retailer network of JGRA member stations.”

The agreement will see the new distribution channel being able to offer both phone top up and SV lottery games in the initial phases. The top up offering will afford customers even more access to “right price” credit on which the SV retail network prides itself. President of the JGRA, Mrs. Dianne Parram, noted that, “The JGRA is delighted that we have concluded the agreement with SVL as our members have been eagerly anticipating the start of this mutually beneficial relationship. Members of the JGRA have expressed their desire to be included in the SVL network and with this MOU, our members are provided with greater business opportunities.”

There are currently over 1400 retailers in the Supreme Ventures network across Jamaica providing direct and facilitating indirect employment for over 7000 persons.

07Feb

Supreme Ventures enters microfinancing sector – Lottery firm buys majority stake in microlender McKayla

Supreme Ventures News, Uncategorized

Huntley Medley – Jamaica Gleaner – February 7, 2021

McKayla Financial Managing Director Delroy Josephs (left) and Damian Duncan of Supreme Ventures seal their deal – SVL’s 51 per cent acquisition of McKayla – with an elbow bump on Friday, February 5, 2021.

On the same day that a new lottery operator entered its core market last week, gaming company Supreme Ventures Limited, SVL, inked a deal to purchase a 51 per cent controlling interest in microlender McKayla Financial Services, signalling SVL’s diversification into an additional business line to grow revenues and differentiate itself from competitors.

The acquisition of the Kingston-based microfinance company with seven locations nationwide and a customer base of more than 3,000 became effective on Friday, and was done through a newly created subsidiary, called Supreme Ventures Fintech Limited.

New financial products are expected to be rolled out over time through the new subsidiary.

The acquisition project and new subsidiary fall under the leadership of Damian Duncan, the new senior vice president of Prime Sports Jamaica Limited, another SVL subsidiary. Duncan joined SVL last August from National Commercial Bank, where he headed up mergers and acquisitions.

The McKayla acquisition price was not disclosed. Officials of SVL and McKayla said the merger would create a larger pool of funds for on-lending through the microlender’s network as well as via some of SVL’s network of 1,250 agents across the country.

Neither Duncan nor McKayla’s Managing Director Delroy Josephs was prepared to say if the proceeds of the sale would be applied directly to on-lending, nor was Duncan prepared to say which, if any, of SVL’s current technology providers would be engaged in building out a digital platform for the integration of the microfinance solutions.

“A lot of that is proprietary but we live in a world that is more and more digital. What we expect is for customers to have an easy interface on their phone, computer or tablet; that interface gathers all the information we need, addresses all the regulatory issues, and we provide a service within that framework,” Duncan said.

Duncan, an MBA graduate of Harvard Business School, has also had stints with American finance houses Bank of America Merrill Lynch, Goldman Sachs and Lehman Brothers. His biographical profile lists him also a partner in Sage Global Finance, a US-based commercial finance and loan company.

SVL’s entry into financial services is expected to distinguish it from its competitors in the lottery business that SVL officials view as an increasingly mature business likely to bring declining financial returns as the space becomes more crowded. On Friday, new competitor Mahoe Gaming rolled out its Izizzi lottery games.

Duncan was not prepared to discuss new areas of business into which SVL planned to branch out, but said the group was on the lookout for new opportunities for mergers and acquisitions.

Business demands will determine whether there are more brick-and-mortar locations and which of the independent agent locations would be utilised as service points for the finance products. No name change is contemplated as SVL officials are convinced that McKayla Financial Services enjoys a strong brand presence and recognition in the market.

The acquisition is also being promoted as a benefit to SVL’s network of agents.

“The SVL agents are looking for financing solutions,” said Duncan. “If you can come out with a compelling solution that is easy to understand, that is transparent and that addresses the customers’ needs, you can compete in the market, do well and create value.”

There are no immediate plans to take the financial services business overseas as SVL spreads its wings into new jurisdictions including in Guyana and South Africa.

“The focus is on growing the business in Jamaica at this time,” Duncan said, while pointing out that overseas expansion of new the financial services is not entirely off the table for future consideration.

08Jan

First Lotto jackpot for 2021 won in St Mary

Supreme Ventures News, Uncategorized

Supreme Ventures Limited (SVL) is reporting that a player has won the Lotto jackpot, the first for this year.

The $69-million jackpot was hit during the draw on Wednesday, January 6.

The lucky numbers, 07, 09, 14, 17, 30 and 33, along with the bonus ball 10, were purchased at Gayle Liquor Store in St Mary, according to a Facebook post from SVL.

“We have our first #Lotto winner for 2021! One lucky person is starting off the new year as a millionaire with $69 million!,” SVL posted.

“Check your tickets now!” SVL further advised.

All winning tickets must be validated and claimed no later than 90 days from the draw date, according to information provided by SVL on each lottery ticket.

A winner usually presents the ticket to SVL’s Corporate Office, located at 28-48 Barbados Avenue. Seven days after they come forward, the jackpot will be handed over, SVL has stated.

Source: http://www.loopjamaica.com/content/first-lotto-jackpot-2021-won-st-mary

23Aug

Supreme Ventures launches 'Supreme Heroes'

Supreme Ventures News, Uncategorized

The Supreme Ventures Foundation (SVF) has launched ‘Supreme Heroes’, its flagship programme for 2020 that recognises micro businesses across the island which are integral to the development and well-being of members of their communities.
Director of SVF, Heather Goldson says Supreme Heroes, a unique outreach programme powered by SVF, seeks to identify unsung heroes who use the limited resources from their small businesses to lend a hand to those in need.
“The Supreme Heroes programme is twofold: not only are we recognising the heroes who have gone above and beyond for their community, but we are supporting them by providing them with training and resources to increase their capacity and grow their business, which sustains so many,” she said.
Goldson said that Supreme Heroes goes further than the usual outreach programme in that it seeks to enhance both the business and outreach operations of each beneficiary enterprise. Acknowledging that the two are inextricably linked, Goldson said that by boosting these home-grown businesses, the owners will generate more resources to do their good deeds, and by regulating their outreach they will be in a better position to access funding from other sources.
“While we asked the public for nominations and narrowed it down from a wide field, we were very strategic in who we chose to include in the programme. The persons we chose are those with a proven track record of making an impact in their community, and have the potential to continue this trend if given additional training and guidance. We intend to provide them with the skill set and outlay to reach even more persons,” she said.
The project is being facilitated through Changemakers Limited, who are organising the roll-out of the programme with the assistance of the Mona Entrepreneurial and Commercialisation Centre (MECC). As programme partners, Changemakers is the chief liaison between the participants and the Foundation and will ensure that the programme is executed as planned. The MECC will provide the training and guidance for the community-based businesses.
At the end of the programme each participant should be registered as both a business and a charitable organisation, if applicable, and will have a unique five-year business plan inclusive of a comprehensive financial plan which will be a road map to sustainability. Participants will also have a better working knowledge of basic business practices.
Goldson said that in addition to business training, the onset of COVID-19 highlighted the need for the programme to assist the businesses in developing risk mitigation and continuation strategies.
“While we are aware of the impact of COVID19 on business, we also recognise how the pandemic would have adversely affected vital assistance like the type provided by our heroes, in a time when people need it most. The programme will also focus on building resilience and risk mitigation to ensure that both their business and outreach can continue in the face of external shocks,” she said.

Source: http://www.jamaicaobserver.com/news/supreme-ventures-launches-supreme-heroes-_201504?profile=1373
Other Sources:
Loop Jamaica
https://www.loopjamaica.com/content/svf-programme-support-humanitarian-efforts-micro-businesses