Local business analytics firm gets Local Content Certificate

SPHEREX Professional Services Inc., a 100 per cent locally owned company established in May of 2022, recently obtained its Local Content Certificate from Guyana’s Local Content Secretariat.

The company is principally owned by Shivani Bhagwandin and provides business intelligence and analytics services in Guyana. The firm also provides professional advisory in business and finance.

Director of Business Intelligence and Analytics, Joel Bhagwandin, in a press release, stated that, with the emerging oil and gas sector that is driving the economic transformation and development taking place in the economy, there is an increasing need for this type of service targetting foreign investors in particular, and local companies.

The release further noted that SphereX carved out a niche market for itself against the backdrop of the inevitable and unprecedented paradigm shift in the local business landscape wherein companies have come to recognise and appreciate the value of data-driven decision making.

In keeping with Guyana’s Local Content law, a Guyanese national or Guyanese company issued a Local Content Certificate by the Secretariat receives preferential treatment in the award of contracts by the oil companies and their sub-contractors. This document confirms that the Secretariat is satisfied that the holder of the certificate is a Guyanese national or Guyanese company. Oil companies and their sub-contractors are more incentivized to utilise vendors that are approved by the Secretariat, which falls under the purview of the

Ministry of Natural Resources. When registering with the Secretariat, suppliers are asked to submit certain crucial documents, depending on the type of proprietorship. Once those necessary documents have been lodged, applications go through a rigorous screen- ing process by the Secretariat’s Registration Unit. This firm system is designed to filter out companies that wish to circumvent the spirit of the law. Registration is free of cost.