The Guyana Economist

14/06/2024

President Ali, in his keynote address at the 31st Afreximbank Annual Meeting and the third edition of the AfriCaribbean Trade and Investment Forum disclosed, that Caricom will look at using the Pan-African Payment and Settlement System (PAPSS) to address the payment settlement issues when trading within the region. This move comes as several countries in the region have expressed their dissatisfaction with the current payment system. SEE MORE

President Ali, in his keynote address at the 31st Afreximbank Annual Meeting and the third edition of the AfriCaribbean Trade and Investment Forum disclosed, that Caricom will look at using the Pan-African Payment and Settlement System (PAPSS) to address the payment settlement issues when trading wi...

14/06/2024

President Ali in his keynote address at the 31st Afreximbank Annual Meeting and the third edition of the AfriCaribbean Trade and Investment Forum told the attendees which comprised Caricom leaders and high-level officials that "We are on to a good platform in the building of trust between Africa and the Caribbean. Let us take this forward to greater heights."
Watch the full address below

14/06/2024

Procurement Opportunity Alert!
The Mayor and City Councillors of the City of Georgetown is inviting sealed bids from eligible bidders for the procurement and delivery of one hauler truck and two dump trucks.
Submission Deadline - June 27, 2024

14/06/2024

Vice President Bharrat Jagdeo announced that the Financial Intelligence Unit (FIU) and the Bank of Guyana were asked to prepare and submit a comprehensive report on what implications the sanctions by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) could have on Guyana’s financial system. SEE MORE

Vice President Bharrat Jagdeo announced that the Financial Intelligence Unit (FIU) and the Bank of Guyana were asked to prepare and submit a comprehensive report on what implications the sanctions by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) could have on Guyana’s ...

14/06/2024

Quote of the day

13/06/2024

The Guyana Geology and Mines Commission (GGMC) has issued a notice reiterating the legal requirements for the sale of gold. See More

The Guyana Geology and Mines Commission (GGMC) has issued a notice reiterating the legal requirements for the sale of gold. The notice comes amid sanctions imposed by the US Department of Treasury on two members of one of Guyana’s wealthiest families (Nasar and Azruddin Mohamed) and Permanent Secr...

13/06/2024

Bank of Guyana revokes the licence of Confidential Cambio owned by the Mohameds

13/06/2024

GPL PUBLIC ADVISORY - NETWORK MAINTENANCE

On Friday, June 14, 2024, the Guyana Power and Light (GPL) will carry out maintenance work on its transmission and distribution network in the Demerara-Berbice Interconnected System (DBIS).

This includes installing shields/deterrents on the L21 Transmission Line to address the proliferation of vultures on the transmission towers. This initiative aims to reduce the frequency of transmission line trips caused by vultures coming into contact with network components on the towers.

Additionally, feeder maintenance will be carried out to ensure the distribution network is functioning efficiently.
These critical maintenance activities will necessitate de-energizing sections of the network including the L21 Transmission Line which connects GPL’s Onverwagt and Canefield Substations and the Powership at Everton, Berbice.

As a result, customers in the following areas will experience a temporary interruption in power supply as follows."

GEORGETOWN
Alberttown – 8:00- 12:00 hrs
Upper Brickdam & Hadfield Street -8:00- 12:00 hrs
Queenstown - 8:00- 12:00 hrs
Newtown & Environs - 12:00 – 16:00 hrs
Lamaha Gardens & Section K Campbellville - 12:00 – 16:00 hrs
A to E Field Sophia - 12:00 – 16:00 hrs

EAST COAST DEMERARA
Success to Lusignan - 8:00- 12:00 hrs
Ogle, South of Public Road – 12:00 - 16:00hrs

EAST BANK DEMERARA
Diamond - 12:00 – 16:00 hrs
Section A Grove to Craig - 12:00 – 16:00 hrs
Farm and Coverden New Scheme - 12:00 – 16:00 hrs
Sections of Republic Park, Herstelling and Mocha - 12:00 – 16:00 hrs
Rahaman Turn to Eccles Public Road - 12:00 – 16:00 hrs

WEST BANK DEMERARA & EAST BANK ESSEQUIBO
Leonora to Naamryck- 12:00 – 16:00 hrs

13/06/2024

In a move towards modernization, the Guyana Oil Company Limited (GUYOIL) has introduced a new Point-of-Sale (POS) payment service. The latest POS payment service seeks to significantly enhance the way customers can pay for fuel and accessories. Starting today, customers can now use their VISA or MasterCard credit and debit cards to make payments. SEE MORE

In a move towards modernization, the Guyana Oil Company Limited (GUYOIL) has introduced a new Point-of-Sale (POS) payment service. The latest POS payment service seeks to significantly enhance the way customers can pay for fuel and accessories. Starting today, customers can now use their VISA or Mas...

13/06/2024

Notice of Public Holiday

13/06/2024

GGMC announces medium-scale mining lottery

The Guyana Geology and Mines Commission (GGMC) is hosting a lottery for medium-scale mining blocks on Friday, June 21st, 2024, at the Mahdia Oval Ground.

This lottery provides an opportunity for Guyanese citizens and businesses to acquire medium-scale mining blocks. Those interested can participate by registering and submitting an application by June 19th at the GGMC Brickdam/High & Princess Street Head Quarters or a District Mining Station. Registration will also be accepted at the GGMC Mahdia Office on June 20th.

There is a non-refundable participation fee of GUY $20,000 required to register. Lottery maps are available for viewing for free or can be purchased for GUY $5,000 each at the GGMC Brickdam/High & Princess Street Headquarters in Georgetown.

To be eligible to participate, individuals must be 18 years or older and citizens of Guyana. Companies must be at least 51% Guyanese-owned. Participants cannot currently hold more than three medium-scale permits or one large-scale license.

More information on the lottery, including maps of available mining blocks and registration forms, can be found on the GGMC website at https://ggmc.gov.gy/ or at the websites listed in the advertisement: https://www.ggmc.gov.gy, https://nre.gov.gy/, https://ggdma.com.

12/06/2024

Public Advisory

11/06/2024

ExxonMobil Guyana Limited (EMGL) is on the hunt for local suppliers to identify residential properties for their staff. The company requires houses, apartments, and townhouses located within the Liliendaal to Le Ressouvenir area on Guyana’s East Coast Demerara (ECD). See More

ExxonMobil Guyana Limited (EMGL) is on the hunt for local suppliers to identify residential properties for their staff. The company requires houses, apartments, and townhouses located within the Liliendaal to Le Ressouvenir area on Guyana’s East Coast Demerara (ECD). According to their announcemen...

11/06/2024

The Government of Guyana has taken careful note of a press release issued by the United States Department of the Treasury on 11 June 2024, which informed of three Guyanese nationals and entities as being sanctioned by the Department’s Office of Foreign Assets Control (OFAC). SEE MORE

The Government of Guyana has taken careful note of a press release issued by the United States Department of the Treasury on 11 June 2024, which informed of three Guyanese nationals and entities as being sanctioned by the Department’s Office of Foreign Assets Control (OFAC). Based on the informati...

11/06/2024

Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned members of one of Guyana’s wealthiest families, Nazar Mohamed (Nazar) and his son, Azruddin Mohamed (Azruddin), their company, Mohamed’s Enterprise, and a Guyanese government official, Mae Thomas (Thomas), for their roles in public corruption in Guyana. Additionally, OFAC designated two other entities, Hadi’s World and Team Mohamed’s Racing Team, for being owned or controlled by Mohamed’s Enterprise and Azruddin, respectively. These individuals and entities are sanctioned pursuant to Executive Order (E.O.) 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption around the world. SEE MORE

Full Statement from the U.S Department of Treasury below June 11, 2024 Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned members of one of Guyana’s wealthiest families, Nazar Mohamed (Nazar) and his son, Azruddin Mohamed (Azruddin), their company, Mohamed...

10/06/2024

Save the Date!

10/06/2024

Public Advisory

𝐔𝐏𝐃𝐀𝐓𝐄𝐃!!! 𝐏𝐔𝐁𝐋𝐈𝐂 𝐀𝐃𝐕𝐈𝐒𝐎𝐑𝐘!!!

𝐃𝐈𝐕𝐄𝐑𝐓𝐄𝐃 𝐅𝐋𝐈𝐆𝐇𝐓𝐒 𝐑𝐄𝐓𝐔𝐑𝐍𝐈𝐍𝐆 𝐓𝐎 𝐂𝐉𝐈𝐀, 𝐅𝐎𝐋𝐋𝐎𝐖𝐈𝐍𝐆 𝐋𝐈𝐆𝐇𝐓𝐍𝐈𝐍𝐆 𝐒𝐓𝐑𝐈𝐊𝐄

Teams from the Cheddi Jagan International Airport and GPL are continuing to rectify the runway lighting system damaged during severe thunderstorms and lightning. So far, they have identified and replaced four cable sections and five transformers.

The intense thunderstorms and lightning also caused damage to the lightning protection system of this equipment and several GPL transformers in nearby communities.

The airlines have confirmed that the affected flights will operate as follows:

𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐀𝐢𝐫𝐥𝐢𝐧𝐞𝐬 𝐟𝐥𝐢𝐠𝐡𝐭𝐬: -
AA 2557 from JFK which was diverted to Barbados, is now expected to arrive at 13:09hrs
AA 1512 to MIA is now scheduled to depart at 13:49hrs
AA 1513 from MIA, diverted to Barbados, has a new estimated time of arrival is 13:39hrs
AA 1534 is estimated to depart to MIA at 14:19hrs.

𝐉𝐞𝐭𝐁𝐥𝐮𝐞: -
B61965 from JFK, diverted to Puerto Rico is now expected to arrive 13:00hrs
B61966 to JFK new estimated time of departure is 14:37hrs

𝐂𝐨𝐩𝐚: -
CM 190 from Panama is expected to arrive at 11:24hrs
CM 191 to Panama new estimated time of departure is 12:24hrs.
CJIA is working to restore the runway lighting system as quickly as possible.

𝐂𝐉𝐈𝐀 𝐚𝐥𝐨𝐧𝐠𝐬𝐢𝐝𝐞 𝐆𝐏𝐋 𝐢𝐬 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐭𝐨 𝐫𝐞𝐬𝐭𝐨𝐫𝐞 𝐭𝐡𝐞 𝐫𝐮𝐧𝐰𝐚𝐲 𝐥𝐢𝐠𝐡𝐭𝐢𝐧𝐠 𝐬𝐲𝐬𝐭𝐞𝐦 𝐢𝐧 𝐬𝐡𝐨𝐫𝐭𝐞𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝, 𝐚𝐧𝐝 𝐰𝐢𝐥𝐥 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐦𝐚𝐭𝐭𝐞𝐫.

08/06/2024

The Guyana Manufacturing and Services Association (GMSA) in its 2023 annual report released earlier this year, revealed that the manufacturing sector grew by 25%, recording an impressive revenue of 70 billion Guyana dollars in 2023. Notable as well was the fact that G$70 billion earned by the sector in 2023 represented an increase of $G13.7 billion in comparison to revenue earned in 2023. Guyana’s manufacturing sector is growing, but two questions remain: why investing in this sector would be profitable and what are the specific opportunities for investment in this sector? SEE MORE

The Guyana Manufacturing and Services Association (GMSA) in its 2023 annual report released earlier this year, revealed that the manufacturing sector grew by 25%, recording an impressive revenue of 70 billion Guyana dollars in 2023. Notable as well was the fact that G$70 billion earned by the sector...

08/06/2024

Fiscal incentives for agricultural investments in Guyana,

08/06/2024

Guyana’s agriculture sector is filled with incredible investment opportunities. Numerous opportunities abound for the mechanization and modernization of the sector as well as for the development of climate-resilient projects. SEE MORE

Guyana’s agriculture sector is filled with incredible investment opportunities. Numerous opportunities abound for the mechanization and modernization of the sector as well as for the development of climate-resilient projects. The abundance of fertile land with a freshwater supply is among the prim...

08/06/2024

Make the most of your 24hrs. This productivity tip can help you stay focused, manage your time effectively, and achieve your goals.

08/06/2024

Today is Investment and Business opportunity Saturday over at The Guyana Economist. In addition to our usual business news, we will be highlighting some investment and business opportunities in Guyana. Like, Comment and Share.

08/06/2024

A Deep Dive into Guyana's Investment Frontiers by Forbes

Guyana’s booming economy is opening up investment opportunities to help grow its industries and solve problems associated with food insecurity and climate change.

08/06/2024

QUOTE OF THE DAY

08/06/2024

"The Ministry of Labor’s Occupational Safety and Health (OSH) Department has commenced an investigation into a fatal workplace fatality that occurred at Springhall sluice located at Farm/Woodlands, West Mahaicony, East Coast Demerara (E.C.D)."

See Full Statement by the Ministry of Labour Below The Ministry of Labor’s Occupational Safety and Health (OSH) Department has commenced an investigation into a fatal workplace fatality that occurred at Springhall sluice located at Farm/Woodlands, West Mahaicony, East Coast Demerara (E.C.D). The d...

07/06/2024

Vice President Bharrat Jagdeo has expressed his displeasure with what he described as ExxonMobil Guyana’s attempt at taking credit for government revenue earned through taxes and described the tax revenues as “a part of a normal way of doing business in a country. See More

Vice President Bharrat Jagdeo has expressed his displeasure with what he described as ExxonMobil Guyana’s attempt at taking credit for government revenue earned through taxes and described the tax revenues as “a part of a normal way of doing business in a country.” He also alluded to the oil g...

07/06/2024

Feeling overwhelmed and exhausted? Burnout in business is real and can drain your energy and passion. Learn how to recognize the signs and take steps to prevent it before it impacts your success.

07/06/2024

The National Oil Incident Emergency Response and Financial Responsibility Bill 2024 is expected to be tabled in the National Assembly before parliament goes for recess in August. This was announced by Vice President Bharrat Jagdeo at his weekly press conference on Thursday, June 6. See More

The National Oil Incident Emergency Response and Financial Responsibility Bill 2024 is expected to be tabled in the National Assembly before parliament goes for recess in August. This was announced by Vice President Bharrat Jagdeo at his weekly press conference on Thursday, June 6. The Vice Presiden...

07/06/2024

High productivity isn't just about working harder, it's about working smarter. Harness the power of efficient strategies.. Remember, a productive business is a healthy business!

07/06/2024

"The Ministry of Labour’s Occupational Safety and Health (OSH) Department has commenced an investigation into a fatal workplace accident which resulted in the death of a 35-year-old dredge owner, on 5th June 2024."

See the Full Statement by the Ministry of Labour Below June 7, 2024 The Ministry of Labour’s Occupational Safety and Health (OSH) Department has commenced an investigation into a fatal workplace accident which resulted in the death of a 35-year-old dredge owner, on 5th June 2024. The accident occu...