Dolla Financial Services Limited (“Dolla”) has announced the successful completion of its acquisition of the lending portfolio of Evolve Loan Co. Limited (“Evolve”), marking another significant milestone in the company’s growth strategy.

The transaction, which became effective on June 30, 2026, involves the acquisition of a loan portfolio with an approximate gross value of J$700 million and approximately 1,800 customer relationships, further expanding Dolla’s presence within Jamaica’s microfinance sector.

The purchase price was determined using the portfolio’s gross nominal value less agreed expected credit loss provisions and incorporates carefully structured post-closing adjustment mechanisms that provide downside protection while aligning the interests of both parties. 

The acquisition aligns with Dolla’s long-term strategic objectives of expanding its scale, enhancing earnings capacity and broadening its customer reach, while maintaining the disciplined risk management and strong governance standards that have underpinned the company’s success. Beyond its strategic and financial benefits, the transaction represents an important step in the continued maturation of Jamaica’s microcredit industry.

As the sector evolves, responsible consolidation among well-governed institutions has the potential to strengthen consumer confidence, elevate service standards and promote sustainable lending practices. By integrating the Evolve loan portfolio into Dolla’s established governance, compliance and risk management framework, the company aims to enhance the customer experience, preserve portfolio quality and contribute to a stronger, more resilient and more transparent microfinance sector. Ultimately, the acquisition reinforces Dolla’s commitment to expanding access to responsible, affordable credit while creating long-term value for its customers, shareholders and the wider Jamaican economy.

Chief Executive Officer, Kenroy Kerr, said “The acquisition demonstrates the company’s ability to execute strategic transactions that create long-term value”.

“This acquisition represents an important milestone for Dolla. It expands our customer base, strengthens our presence in the Jamaican market and reflects our disciplined approach to growth. We have been deliberate in structuring a transaction that creates value for our shareholders while maintaining our focus on prudent risk management.”

“Beyond the portfolio itself, this transaction provides us with an opportunity to establish relationships with more than 1,800 additional customers, many of whom we hope to serve throughout their financial journey. We remain focused on delivering fast, responsible and customer-centred lending solutions while continuing to create value for our shareholders.”

The company expects the transition process to be seamless and will communicate directly with all affected customers regarding payment instructions and servicing arrangements. Existing loan agreements will continue under their current terms, with only the servicing entity changing.

Commenting on the transaction, Delroy Anderson, General Manager of Evolve Loan Co. Limited, said:

“This transaction represents a positive outcome for our customers and our business. Dolla has established itself as a strong and responsible lender, and we are confident our customers will continue to receive excellent service while Evolve sharpens its strategic focus.”