PRESIDENT of the Private Sector Organisation of Jamaica (PSOJ) Keith Duncan says that games company Supreme Ventures Limited’s (SVL) most recent investments indicate an abundance of opportunities in that market for investors and their clients.

“Right now Jamaica is a gold mine, a wealth of opportunities calling for us to put in the work required to reap the rewards,” Duncan told SVL’s staff and guests who packed into their new state-of-the-art facilities at Twin Gates Plaza, Constant Spring Road, for its official opening.

Duncan also urged private sector companies to remain cognisant of their role as drivers of the economy and not to shy away from the challenges posed by anomalous investment opportunities.

“The expansion and involvement seen here today is an example of investing in our country and investing in our people. With over two decades of business in Jamaica, you’ve [SVL] remained at the top of your game with adaptability and innovation at the core of your operation,” he cheered on SVL executives, including Executive Chairman Gary Peart and CEO of its subsidiary Prime Sports Limited (PSL) Xesus Johnston.

Peart had earlier announced that after a wave of success in its operations, notably with the recently released instant scratch-off card games, Supreme Scratchaz, SVL had decided on the new flagship location at Twin Gates Plaza to house all the games its customers have grown to love as well as provide access to its latest financial services product.

He said that the opening of this 10th company-owned location exemplifies the attitude and approach of hard work exhibited by SVL.

Duncan admitted that the PSOJ is seeking to partner with the Supreme Ventures’ business hub and other small business resource centres to provide these value-added services to its membership and the wider private sector.

“This transformation, however, cannot happen within a vacuum. We need the Government of Jamaica to put in the necessary interventions to transform the economy and our education system. As your business continues to grow, the opportunities for further employment and digital transformation will also become available,” he added.

Peart responded that the expansion and major investment reaffirms the company’s commitment to the Jamaican economy.

“We continue to directly employ a significant workforce of over 500 persons across the group, as well as indirectly impact over 30,000 Jamaicans across our retail network and the Caymanas community at a time when thousands of our people are struggling due to the economic downturn caused by the COVID-19 pandemic,” the SVL executive chairman noted.

He said that the company will continue to live up to its promise of “making winners every day”, from the new Twin Gates flagship store.

Among latest techno-developments at SVL has been its partnership with Evolve Systems, a full-service digital, creative, and technology agency based in St Paul, Minnesota, which has been working with evolving businesses across the United States for some two decades.

Evolve Systems operates as a technology-based company, providing merchant processing and custom e-commerce solutions, while partnering with local design and marketing firms for non-technical needs. But, as Google became more prominent for search and firms weren’t familiar with designing or marketing for the web, it detected that its technical knowledge combined with full-service, in-house website and marketing capabilities would provide its clients with the best results.

So it evolved, and Evolve Systems quickly became a digital, creative, and technology agency, while its sister company, Evolve Payment, was born to spearhead the merchant processing side of things.

In the meantime, SVL, through its newly formed financial services subsidiary, Supreme Ventures Fintech Limited, has been rolling out its first microcredit product, which is a loan aimed at its 1,300 retail agents across the island.

Starting with a $500,000 limit, the loan, branded as Evolve, is SVL’s first foray into the financial products space. The management of SVL says the facility is an all-digital financial solution based on an app developed by its credit risk technology partner Mo Technologies, headquartered in Bogota, Colombia.

Johnston, who has responsibility for SVL Fintech, says already a half of SVL’s retailers have been pre-approved for the loan, for which application, approval, disbursement, repayment, account management, and communication with loan recipients are done online via the app downloaded to the phones of clients.

He said that, at this point, pre-approval of some 650 of its retailers for the loan is determined from historical and other data fed into the platform, which then sets credit limits.