Guyanese businesses encouraged to tap into Afreximbank opportunities

President of the Georgetown Chamber of Commerce and Industry (GCCI), Kathy Smith, has urged the African Export-Import Bank (Afreximbank) to meet with organisations and businesses in Guyana to develop the footprint of its financing programme, with emphasis on the opportunities and the room for investment.

She was at the time addressing a business forum at the Guyana Marriott Hotel on Wednesday, hosted by Afreximbank.

The forum was held under the theme, “Empowering Local Content Participation for Sustainable Prosperity through the Implementation of Afreximbank’s mandate.”

The event was geared towards advancing the bank’s US$1 billion oil servicing financing facility to Guyanese businesses by showcasing its key programmes, as well as its financial and non-financial solutions to support local participation through the oil and gas value chain.

It also provided a platform for local businesses to learn about the financing opportunities that are available to them.

The GCCI President, in her address, reflected on the event’s theme, emphasising that it is at the core of the Chamber’s mission, as part of the private sector, to ensure that local businesses are equipped to thrive in an increasingly competitive and dynamic environment.

She noted, too, that the local private sector has been a driving force behind development, with the GCCI advocating for policies that foster resilience and ensure that prosperity is not fleeting, but sustained for generations.

Smith also emphasised the need for Micro, Small, and Medium-sized Enterprises (MSMEs) to be considered for these financing opportunities.

“As Guyana expands its industries, particularly with the opportunities emerging in oil and gas, ensuring local businesses can actively participate in this transformation has been a top priority. The Chamber recognised early on that true prosperity is not measured solely by foreign investments, but by ensuring Guyanese enterprises are positioned to grow and compete on a level playing field,” she said.

Additionally, Smith provided those in attendance with insights into the advocacy work by the GCCI and the efforts that were geared towards ensuring that policies were created and implemented for the benefit of local companies—including the Local Content Act, which has been pivotal to the growth of many businesses in