Guyana collaborates with Jamaica to create a junior Stock Exchange

The Georgetown Chamber of Commerce and Industry (GCCI) is collaborating with the Jamaica Stock Exchange to launch a junior stock exchange in Guyana. This announcement was made during the second Regional Investments and Capital Markets Conference held last week.

GCCI President Kester Hutson, who participated in a panel discussion on the private sector’s role in driving sustainable wealth creation, emphasized that the junior stock exchange would improve access to capital for small and medium-sized enterprises. “The Chamber is excited about this opportunity, as we need to expose our members to these possibilities. The Jamaica Stock Exchange is a proven model,” Hutson said.

Additionally, the GCCI reaffirmed its commitment to facilitating trade, including organizing inbound and outbound trade missions and enhancing members’ trade and investment potential. “The Chamber is dedicated to exposing, engaging, and educating our members through these strategic programs,” the statement concluded.

GCCI executive member Richard Rambarran, who also serves as Country Manager for NCB Capital Markets Incorporated (Guyana and Suriname), spoke about the importance of broker-dealers in capital markets. He pointed out the challenges related to accessing finance in Guyana.

“We need to ask different questions. How can we reshape the framework to create institutions that can effectively channel necessary funds into the projects happening here in Guyana?” Rambarran said.

His comments followed those of Senior Minister of Finance Ashni Singh, who assured conference participants that Guyana has the expertise needed to establish institutions critical for good governance and economic management.

“We have been laying the groundwork for a long time, and we didn’t reach this stage by chance. Today, Guyana is arguably one of the most attractive destinations for business in the world,” Singh stated. -(CMC)