Portfolio

Industry: Quality & Safety Assurance; Health & Wellness

Location: Kingston, Ocho Rios & Montego Bay in Jamaica

Investment Deal Signed: March 2025

Overview: Technological Solutions Limited (TSL) is a Caribbean leader in providing scientific services, with over 29 years of experience in its core Quality & Safety Assurance businesses, as well as a variety of Health & Wellness services. Originally spun off via management buyout in 1996 from the major Jamaican conglomerate GraceKennedy, TSL was founded by its CEO Dr. André Gordon, a prominent Jamaican scientist who in 2022 was awarded Jamaica’s highest national honour for science and technology, the National Medal for Science and Technology for contributions to food safety and science. 

·  Quality & Safety Assurance Growth as Caribbean Exports Multiplier: Through TSL’s Quality & Safety Assurance services such as lab testing, certification, audit & assessment, training, and consulting, TSL not only helps ensure safety and quality standards for Jamaican firms serving consumers in Jamaica, but also enables Jamaican and Caribbean exporters to multiply their export potential by meeting the quality & safety certifications and other requirements for accessing export markets such as the US, Canada, EU and the UK. TSL’s services for food companies across the Caribbean is particularly notable, with the firm being vital in helping exporters of, for example, ackee, seafood, and coconut water, gain and maintain such international market access. 

·  Further Growth through serving Jamaica’s Healthcare Demand: TSL has also long been involved in health scientific services. During the COVID-19 pandemic, TSL led rapid PCR testing in Jamaica which was key in helping Jamaica’s tourism & hospitality sector to reopen. TSL has also launched medical diagnostics and nursing services, including medical centres and house calls.

·  ESG & Impact: JASMEF’s investment in TSL is also a multiplier for positive impact on health & safety, as it increases TSL’s capacity for improving the health & safety standards in companies in food and other industries that serve Jamaicans, other Caribbean peoples as well as consumers in export markets.  JASMEF improves TSL’s performance through enhancing the company’s corporate governance with international best practices. As a requirement of JASMEF’s investment, TSL also adheres to the Development Bank of Jamaica and World Bank’s Environmental & Social Management Framework (ESMF).

Industry: Financial Services (Microcredit)
Location: Kingston, Jamaica

Investment Deal Signed: December 2023

Overview:
 WILCO Finance Limited, which began operations in 2010, is a microfinance institution based in Kingston, Jamaica. The firm provides microcredit loans to individuals and MSMEs in Jamaica and is led by CEO Nikisha Walters who is an experienced Banking & Wealth Management specialist. WILCO also benefits from the Development Bank of Jamaica-World Bank Credit Enhancement Facility, a program WILCO was accepted into before JASMEF learned of the firm.

●  Microcredit Market Opportunity: WILCO, as a microcredit institution authorized by the Bank of Jamaica (BOJ) to operate, is well-positioned to capitalize on the reduced competition in Jamaica’s microcredit market following the implementation of the Microcredit Act of 2021 which forces out microcredit firms that cannot fulfill the regulatory requirements of BOJ licensing. 

●  Growth through Improving Technology and Operations: JASMEF’s investment in WILCO supports the company’s expansion strategy, which focus on broadening operational reach, improving use of digital technologies, and increasing the quality and size of its loanbook.

●  ESG & Impact: JASMEF’s investment in WILCO addresses the key impact of access to finance for consumers and MSMEs who otherwise may struggle to sufficient financing in Jamaica for their family or business needs. A female-led business itself, WILCO also has an initiative supporting female entrepreneurs. JASMEF improves WILCO’s performance through enhancing the company’s corporate governance with technical training and international best practices. As a requirement of JASMEF’s investment, WILCO also adheres to with the Development Bank of Jamaica and World Bank’s Environmental & Social Management Framework (ESMF).