Mayberry Group Tightens Grip on Dolla Financial Services: Insider Trade Triggers Regulatory Threshold

Kingston, Jamaica – June 2025
A major shift in shareholder dynamics is underway at Dolla Financial Services Limited (DOLLA), following a substantial insider trade on May 27, 2025 that has reshaped control and raised regulatory implications.

📉 Massive Share Sale by Connected Party

On May 27, a connected party sold 175 million shares of DOLLA, representing 7% of the total issued shares. This large volume transaction was swiftly absorbed by Widebase Limited, a wholly owned subsidiary of Mayberry Group Limited (MGL). The acquisition increased Widebase’s total holding in DOLLA to 21%, up from a previously undisclosed figure just below the 20% threshold.

This movement now makes Widebase the largest single shareholder in DOLLA, overtaking previous leaders such as Dequity Capital Management Limited and FirstRock Private Equity Limited, who each held 20% and 19% respectively according to the company’s last audited financials dated December 31, 2024.

🏛️ Regulatory Threshold Crossed: BOJ Approval Sought

The 21% stake held by Widebase has triggered a regulatory threshold that requires approval from the Bank of Jamaica (BOJ). Under the Microcredit Act, 2021, any entity seeking to hold 20% or more of a licensed microcredit institution must obtain the regulator’s consent.

Dolla Financial Services, licensed by the BOJ since November 24, 2022, confirmed that Widebase has notified its intent to seek such approval, in compliance with the Act. This step is critical to ensure that major shareholders meet fit and proper criteria, safeguard consumer interests, and uphold financial sector integrity.

📊 Updated Shareholding Snapshot

As per the latest shareholder disclosure (audited December 2024), the top three shareholders prior to the May transaction were:

Shareholder	Ownership % (Pre-Transaction)
Dequity Capital Management Limited	20.00%
FirstRock Private Equity Limited	19.00%
Mayberry Jamaican Equities Limited	19.00%

Now, with Widebase holding 21%, and Mayberry Jamaican Equities still controlling 19%, the Mayberry Group’s aggregate influence could exceed 40%, consolidating significant voting power and strategic sway in DOLLA.

👔 Insider and Director Holdings

According to the disclosure on page 3 of the audited financials, key directors and senior managers maintain notable stakes:

• Kadeen Mairs: 418.7 million shares (via Dequity Capital), or 16.7% of issued shares.
• Keinan Falconer (connected to FirstRock) and others also hold material interests.
• Senior managers, including Trevoy McKenzie (5.3M shares) and Chad Whyte (772K shares), further reinforce insider alignment.

These holdings ensure that internal stakeholders remain influential even amid external accumulation.

🌍 About DOLLA

Dolla Financial Services is a prominent short-term lender, operating in Jamaica through Dolla Financial Services and Ultra Financier Limited, and regionally via Dolla Guyana Inc. The company serves micro and small businesses with accessible financing and rapid disbursement, targeting underserved financial markets.

🔎 Strategic Implications

Widebase’s acquisition suggests:

• A strategic positioning by Mayberry to deepen its role in DOLLA’s future,
• A potential consolidation play in Jamaica’s microcredit space,
• Increased scrutiny as the BOJ reviews Widebase’s application for expanded control.

The move also signals confidence in DOLLA’s growth outlook, as Caribbean financial institutions look to scale through acquisitions and partnerships.

Conclusion:
This insider-led transformation underscores the dynamic shifts in Jamaica’s evolving financial services sector. As regulatory review proceeds and market players realign, DOLLA’s trajectory will be one to watch closely.

📌 For updates on DOLLA, Mayberry Group, and Caribbean financial markets, stay tuned to BATV News.

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