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Listof Contents
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Annual Report
Georgetown Chamber of Commerce & Industry
•
President’s Remarks
•
Mission, Vision, Core Values, Strategic Priorities
•
Organisational Chart
•
Notice of the Annual General Meeting
•
List of Presidents
•
Executives’ Profiles
•
The Chamber’s Committees
•
Celebrating 125 Years and Counting!
•
Executive Director’s Report
•
Major Highlights and Accomplishments of 2014-2015
•
GCCI Members Celebrate Major Accomplishments
•
124th Annual General Meeting
•
Annual Dinner and Awards Ceremony 2014
•
President’s Speech at the Awards Ceremony 2014
•
Export Earnings Expanding
•
Auditor's Report
•
GCCI Membership List
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015
4
President’s Remarks Lance Hinds President
My Dear Colleagues, It is my distinct pleasure to present the 2014 Annual Report on behalf of the Executive and Council of the Georgetown Chamber of Commerce and Industry. This report outlines the activities of the Chamber during the 2014-2015 term. The year is a particularly special one for us. We celebrated 125 years as an organization supporting the interests of the business community. As many of us are aware, the Chamber was established in 1890 and is the oldest private sector organisation in Guyana. It has been a time of reflection. 125 years is a long time. The society and the business environment has of course shifted and evolved significantly in some many different ways since then. Throughout it all however, the Chamber was and continues to be a leading voice as Guyana’s economy continues to evolve, overcome challenges and provide the wherewithal for the comfort and acceptable standard of living deserved by our citizens.
In recognition of this achievement,a project was launched to compile the history of the Chamber. This history will be presented in summary in our 125th Commemorative Magazine and business directory later on this year. The Magazine will highlight the growth and evolution of the Chamber within the context of its relationship with the various national stakeholders throughout those years. At the beginning of this year, the Chamber adopted the position thatthe private sector must continue to expand significantly in order for the economy to deliver the revenue, wealth and job creation critical to the nation’s future. To facilitate this growth therefore it is critical that there exists a supporting, enabling environment that is a reflection of how business functions in the 21st Century. The Chamber also felt that entrepreneurship must play a fundamental role in the transformation and ultimate success of the country’s economy,and it was therefore critical that the all stakeholders work on advancing entrepreneurial success and facilitating the growth and commercialization of new products and ideas by local budding entrepreneurs.
5 2014 2015 To this end the Chamber worked tirelessly on developing a series of initiatives to contribute to the development of an entrepreneurial driven environment. Working either on its own or with local and regional stakeholders, the Chamber hosted seminars and workshops to promote entrepreneurship awareness and education. Partners included Caribbean Export, USAID/Skye, Scotiabank and CUSO International. One of the highlights of the year was the Entrepreneurship seminar we conducted in partnership with Scotiabank. We expanded our partnership with the USAID Skye programme. Along with hosting the online employment exchange, we participated in the development of the training manual for the programme’s Be Your Own Boss initiative. The next step is to help coordinate the mentoring sessions with the hope of encouraging students to create their own businesses and provide the guidance necessary for them to be successful. Our partnership with CUSO International was one that was quite new for the Chamber. It allowed the Chamber to preach the gospel of entrepreneurship to sections of the society that under normal circumstances and with our legacy disposition we would not normally reach. It is to our credit as well this is the first time that CUSO International has partnered with a Private Sector organization for this kind of effort. It has also been a challenging year on some fronts; once again, international commodity prices have caused a contraction in production in our agriculture and mining sectors. The Chamber continued to emphasize throughoutthe year for the need for policy and initiatives to diversify our economy.
Annual Report
Georgetown Chamber of Commerce & Industry
Elections, and its related challenges, are imminent. The Chamber understands and respects that our political process is extremely robust and aggressive. It is critical however all stakeholders work together to ensure that this process is peaceful and provides the comfort to all of the electorate that it has been conducted fairly. We are about to celebrate 50 years as an independent nation. How we conduct ourselves during this period will to a large extent determine how we chart our course for the next 50 years. Stability, reliability and a positive political environment are critical components of ansuccessful economy and investment climate. It has been a distinct privilege to serve as President of the Georgetown Chamber and Commerce and Industry for the 2014-2015. To the members of the Executive and Council, I would like to thank you for your commitment and support. The staff of the secretariat continued to work tirelessly on Chamber related activities and maintained the level of commitment and professional critical to the continued effectiveness of the Chamber. Please accept thanks for your hard work and commitment. On behalf of the Executive and the Council, I also wish to thank the members and partners for their continued support throughout the year. Lance Hinds
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015
6
Mission, Vision, Core Values & Strategic Priorities Chamber Profile The GCCI is the oldest private sector representative organization in Guyana (established in 1890) and is a member-driven and professionally staffed non-profit association of business people committed to improving the economic climate and quality of life in Guyana. We are legislatively mandated under the Georgetown Chamber of Commerce and Industry Act Chapter 89:03 of the laws of Guyana. The Chamber’s strength lies in the size and diversity of its membership—both large and small businesses from virtually every sector are represented.
Be part of Guyana’s oldest and most recognizable business network! Benefits of Membership Your investment and support for the work of the Chamber helps us to help you and to improve the overall business climate in Guyana Impact public policy. Chamber’s Advocacy Committee formulates and advocates positions on issues affecting businesses in Guyana to our policy makers
Mission
Chamber helps members resolve issues affecting their operations by liaising with the relevant local authorities
The GCCI represents the voice of the business community in Guyana and strives to advocate policies, stimulate trade and investment, connect businesses, sustain economic growth and expand member opportunities with the aim of contributing to a stable and sustainable economic and social environment in Guyana where businesses can prosper.
Take advantage of the many opportunities to expand your network and develop business relationships through formal and informal special events and networking functions, including, cocktails, luncheons, dinners, conferences, highlevel meetings and workshops
Core Values Commitment - The Chamber is in business for business and is committed to preserving a stable economic environment, responding to members’ needs, connecting businesses together, improving prosperity and business opportunities within Guyana. Integrity - The Chamber is a non-partisan, open, honest and accountable organisation, which bases its decisions on driving and supporting business development in Guyana. Our members also subscribe to a Code of Conduct in the execution of their operations. Courtesy - It remains a core value of the Chamber that the contribution of its Council, its staff and members is valued and appreciated. Collaboration - The Chamber values strong working relationships with other agencies and stakeholders.
Free capacity building exercises in the form of seminars, workshops, and other educational vehicles for our members Free listing in the Chamber’s Membership Directory Special Advertising discount in the Chamber’s Business Guyana Magazine Free listing on the Chamber’s website with a link to your business or organization The Chamber is usually the first point of contact for many businesses looking to invest or buy products and services in Guyana and it is the policy of the Chamber to refer our member companies first to such investors Annual Chamber certificate to display on your premises to indicate that your organization is an active force in the community and is concerned and actively involved in business expansion and economic growth for Guyana.
DRIVER/OFFICE ASSISTANT
MEMBERSHIP COMMITTEE
FINANCE COMMITTEE
CLEANER
CLERICAL STAFF
ADMIN/ FINANCE OFFICER
TRADE & INVESTMENT COMMITTEE
RESEARCHER/INTERN
MARKETING/ PR OFFICER
EXECUTIVE DIRECTOR
Executive Management Committee
COUNCILLORS
MEMBERS
SECURITY & GOVERNANCE COMMITTEE
RESEARCHER/INTERN
ITC OFFICER
PR AND FUNDRAISING COMMITTEE
THE GEORGETOWN CHAMBER OF COMMERCE & INDUSTRY’S ORGANISATIONAL CHART
ADVOCACY COMMITTEE
RENOVATIONS COMMITTEE
7 2014 2015 Annual Report Georgetown Chamber of Commerce & Industry
Organisational Chart
9 2014 2015
Annual Report
Georgetown Chamber of Commerce & Industry
Notice of Annual General Meeting Notice is hereby given that the 125th Annual General Meeting of the Georgetown Chamber of Commerce & Industry (GCCI) will be held on Thursday, April 23, 2015, at Duke Lodge, Duke Street, Kingston, Georgetown at 14:00 hours for the following purposes: Agenda 1.
Reading of the Notice convening the Meeting
2.
Presentation of the President’s 2014 Report
3.
Auditors’ Report and Financial Statements for the year ended 31 December 2013
4. Resolutions 5.
Election of the 2015/2016 Council
6.
Appointment of an Auditor
7.
Consideration of any business or motion as may properly come before the meeting
All member are reminded to be in good financial standing with the Chamber.
BY ORDER OF THE COUNCIL
………………………………… Bonita Marissa Lowden Executive Director March 2, 2015
ALL MAIL: 156 Waterloo Street, North Cummingsburg, Georgetown, Guyana, South America Telephone: (592) 225-5846 / 226-3519 / 227-6441 Email: gccicommerce2009@gmail.com/info@gcci.gy
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 10
The Georgetown Chamber of Commerce & Industry Established 1889 Incorporated 1890
List of Presidents: 1889 - 2015 1. |
A. Barr
1889 - 1890; 1892
2. |
T.H. Glennie
1891; 1894
3. |
G.H. Richter
1893
4. |
A. Weber
1895 -1896
5. |
A.P.P. Mackey
1897 - 1898; 1903
6. |
George Garnett
1899 - 1900; 1905 - 1907; 1912 - 1913
7. |
E.M. Sanderson
1901
8. |
A. Summerson
1902
9. |
C.G.A. Wyatt
1904; 1908 - 1911
10.|
C.W. Prest
1914
11.|
A.P.G. Austin
1915 - 1916
12.|
A.P. Sherlock
1917 - 1918; 1924
13.|
C. Martin-Sperry
1919
14.|
C. Farrar
1920 - 1922; 1927
15.|
T.H. Dalgliesh
1923; 1925 - 1926
16.|
M.B.G. Austin
1928
17.|
F.H. Martin-Sperry
1929; 1934 - 1935; 1940 - 1942
18.|
Jules Pairaudeau
1930
19.|
F.A. Mackey
1931
20.|
H.G. Seaford, O.B.E
1932 - 1933; 1939; 1943 - 1944; 1949 - 1950
21.|
J.I. DeAguiar, C.B.E
1936 - 1938; 1951
22.|
W.j. Raatgever, C.B.E.
1945 - 1948
23.|
LT. Col. E.J. Haywood, M.B.E, T.D
1952
24.|
J. St. F. Dare
1953
25.|
W.M. Green
1954 - 1957
11 2014 2015
Annual Report
26.|
LT. Col. C.M. Bernard, O.B.E, E.D
1958
27.|
E.S. Stoby O.B.E
1959 - 1960
28.|
H.L. Steele
1961 - 1962
29.|
G.W.E. Cooper, O.B.E
1962
30.|
John Jardim
1963 - 1965
31.|
M.B. Gajraj
1966 - 1967
32.|
S.M.V. Nasseer
1967 - 1968; 1968 - 1969
33.|
A.R. Yhap A.A, O.B.E
1970 - 1972
34.|
N.O. Gonsalves
1973 - 1977
35.|
E.P. Christiani
1978 - 1982
36.|
W.G. McKenzie
1983 - 1988
37.|
Denis E. Moore
1989 - 1992
38.|
John S. De Freitas
1992 - 1993
39.|
Hansel W. Barrow
1993 - 1994
40.|
Denis E. Moore, A.A
1994 - 1995
41.|
Manniram Prashad
1995 - 2001
42.|
Edward Boyer
2001 - 2005
43.|
Capt. Gerald Gouveia
2005 - 2007
44.|
Col. (ret) Carl B. Morgan
2007 - 2008
45.|
Chandradat Chintamani
2008 - 2010
46.|
Komal Ramnauth
2010 - 2012
47.|
Clinton Urling
2012 - 2014
48.|
Lance Hinds
2014 - To Present
Georgetown Chamber of Commerce & Industry
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 12
Executive Profile Lance Hinds President
Mr. Lance Hinds has been on the GCCI Executive for five (5) years. He served for two (2) years as the Treasurer and the Secretary before being elected to be Senior Vice President in 2012/2013. Thereafter, he was elected President for the year 2013/2014. He has twenty plus years experience in the provision of professional services for the design, development and implementation of Information and Communication Technology (ICT) solutions for public and private sector agencies. He specialises in ICT strategic planning and implementation at the national level and also for rural community and hinterland development. His professional services have been commissioned by such organisations as the United States Agency for International Development (USAID), The InterAmerican Development Bank (IDB), The World Bank, The European Union, The U.S. Departments of Commerce and Treasury. He is the Founder and Chief Executive of the BrainStreet Group, a business information technology solutions company that offers a complete range of management information
and business system consulting services for government and private sector agencies. The company also develops interactive content for the education and animation sectors. His other professional activities include: Member of the Caribbean Export Regional Innovation Advisory Group; this group has been created to develop a policy framework and enabling environment within the CARIFORUM countries that will further foster entrepreneurship and innovation. Member of the Caribbean Export Private Sector Advisory Committee; This committee consists of a select number of experienced business leaders from around the Region who advise the Caribbean Export Development Agency on how to improve its existing programmes and also its overall strategic direction. Current chairman of DevNet; This is an ICT developmental NGO specializing in the development of solutions for the exposure and use of Information Technology in disadvantaged rural and hinterland areas.
13 2014 2015 Founding member of the Latin American & Caribbean Regional At-Large Organisation (LACRALO); This is a hemispheric ICT4D group that represents Latin American and Caribbean interests within the International Corporation of Assigned Names & Number (ICANN) framework as it pertains to the worldwide management and integrity of the internet space. Member of the CARICOM ICT Steering Committee (CISC), whose primary function is to develop policy and action plans for the implementation of regional initiatives to help regional governments and related stakeholders effectively use information technology to improve the general well being and productive capacity of its citizens. As part of his overall contribution to the community at large, Mr. Hinds is a Past President of the Rotary Club of Demerara, Former President of the Malteenoes Sport Club. He is also a former member of the Bishop's High School Board of Governors, Past President of the Bishop’s High School Old Students Association and a past executive member of the Queen's College Old Students Association.
Annual Report
Georgetown Chamber of Commerce & Industry
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 14
Executive Profile Clinton Urling
Immediate Past President
Mr. Clinton Urling is the owner and General Manager of German's Restaurant and Founder and Executive Chairman of the non-profit leadership and public policy organisation Blue C.A.P.S (Change, Advocacy, Policy and Service). He served two terms as President of the Georgetown Chamber of Commerce & Industry and one term as the Vice Chairman of the Private Sector Commission . He was recently appointed Chairman of the Fédération Internationale de Football Association’s (FIFA) Normalisation Committee to manage Guyana’s football for the ensuing year.
He has an academic background in International Relations holding a Bachelor’s Degree from the University of Guyana and a Masters (Distinction) from the University of West Indies in the discipline. He has completed several courses at Harvard Kennedy School (HKS) and the London School of Economics. He recently completed the HKS "Emerging Leader" course.
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Georgetown Chamber of Commerce & Industry
Executive Profile Vishnu Doerga Senior Vice President
Mr. Vishnu Doerga joined the Georgetown Chamber in 2012 and has functioned as Junior (2013) and Senior (2014) Vice President in addition to heading the membership and green economy committees. Mr. Doerga has served private sector development in many capacities over the past 12 years including as President of the Upper Corentyne Chamber of Commerce & Industry, Private Sector Commission member and on numerous national development bodies. In 2011, he received the Young Business Executive Award from the Georgetown Chamber of Commerce and Industry.
Mr. Doerga holds a diploma in Mechanical Engineering (Credit) from the University of Guyana and a Master of Business Administration degree (Credit) from the Australian Institute of Business, in addition to an array of international technical, marketing and management certificate courses pursued over the years. He is the founder of Doerga Business Enterprise, Business Coach with ActionCOACH Guyana and lectures on Strategic Management and International Business for Nations University Guyana.
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 16
Executive Profile Padma Prashad Junior Vice President
Ms. Padma Prashad was appointed Junior Vice President of the Georgetown Chamber of Commerce and Industry for the period 2014/2015. She previously served in the capacity as Secretary for the Chamber. Ms. Prashad also serves as the Chairperson of the Human Resources Management Committee of the Chamber. Ms. Prashad holds a Bachelors Degree of Science in Business Management as well as a Diploma in Marketing from the University of Guyana. She is currently reading for her Master in Business Administration. At present she is employed as the Group Products’ Portfolio Manager at Ansa McAl Trading limited.
Prior to joining the Ansa McAl conglomerate, Ms. Prashad started her career at the National Bank of Industry and Commerce, now known as Republic Bank. In 2004, she then joined the Neal and Massy Group of Company as a Product Specialist at Geddes Grant Guyana Limited. In 2008, she was appointed Brand Manager for Unilever at Desinco Trading limited. She then moved on to her current place of employment at Ansa McAl, where she has traversed Consumer goods and Construction as a Manager; today, she is responsible for the entire Ansa Group Products’ Portfolio.
17 2014 2015
Annual Report
Georgetown Chamber of Commerce & Industry
Executive Profile Nicholas Boyer Secretary
Mr. Nicholas Boyer is a Director at the National Hardware Limited Group of Companies and at Royal Castle Guyana Inc. He is responsible for the overall corporate strategy for both companies and is involved in the day to day operations in the Colorcrete and Decopav subsidiaries of the group. Nicholas moved back from Washington D.C. to join the family business in 2010, where he had worked for Wells Fargo Bank N.A. as a mortgage backed securities analyst, and for Valuation Services Inc. as an Associate; the former being one of the larger banks in North America and the latter being a small Boutique Accounting and Investment Advisory Firm.
Nicholas holds a B.A. in Economics from the University of Virginia in Charlottesville USA, founded by Thomas Jefferson. He also holds Masters Degrees in Business and Finance from the University of Maryland in College Park.
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 18
Executive Profile Eon Grant Treasurer
Mr. Eon Grant, the Senior Credit Officer in the Corporate & Commercial Credit Department of Republic Bank (Guyana) Limited has over twenty five (25) years of banking and credit experience and is primarily responsible for Commercial and Small and Medium Size Enterprises lending.
Mr. Grant has been the appointed representative of Republic Bank to the Georgetown Chamber of Commerce and Industry for the past five (5)years and was appointed as Treasurer of the Chamber and Chairman of the Finance Committee for the period 2013/2014 and 2014/2015.
Mr. Grant holds a Bachelor of Commerce Degree (BCom) from the Nipissing University and is also an Associate of the Canadian Institute of Banking (AICB). Additionally, he holds various leadership positions within The Wesleyan Church, through which he serves his community at both the national and local church levels.
He continues to be actively involved in the activities and work of the Chamber.
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Annual Report
Georgetown Chamber of Commerce & Industry
Executive Profile
Bonita Marissa Lowden Executive Director
Ms. Bonita Marissa Lowden joined the Georgetown Chamber of Commerce and Industry in May 2012 in the capacity of the‘Advocacy and Research Officer’ but today she now serves as the‘Executive Director’ of the Chamber.
Ms. Lowden also possesses training in the areas of Conflict Management, Project Management, Gender Sensitization, Family Planning, Advocacy and Community Mobilization, and Project Proposal Writing.
Ms. Lowden has a Bachelor of Science Degree in International Relations from the University of Guyana (2008), as well as, a Master of Science Degree in Global Studies from the University of the West Indies, St. Augustine (2011).
One of her major achievement is the publication of her Master of Science Thesis titled “Climate Change and its Implications on Guyana’s Foreign Policy” by the University of West Indies, St. Augustine in a book titled “Selected Essays on Contemporary Caribbean issues: An International Relations Perspective".
Prior to joining the Chamber, Ms. Lowden has a range of work experience, in 2005 she served as a Clerk with a Mining and Exploration Company; in 2008 she served as a Project/Communication Officer with the Office of the President; and in November 2009 she served as a Research Assistant with the Office of the Pro-Chancellor, University of Guyana. In December 2009, she became a National United Nations Volunteer and served as such until November 2011. Subsequently, Ms. Lowden went on to work with the Ministry of Local Government and Regional Development as a Youth Community Facilitator/Consultant.
Ms. Lowden has utilized her knowledge and skills to effectively execute the work of the Chamber while upholding the organisation’s mission, vision and core values.
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 20
Committees
Georgetown Chamber of Commerce & Industry’s
1.
TRADE AND INVESTMENT COMMITTEE
Terms of Reference
To ensure that all members of the Chamber abide with required rules and regulations. To seek new members with quality for the Chamber in order for the Chamber to remain financially viable and be a unified voice for the Business Community. To make recommendations to Council on all applications for Membership.
To liaise with the Ministry of Tourism Industry & Commerce and the Guyana Office for Investment (GOINVEST) on matters related to Trade & Investment locally.
To ensure that the members interest and concerns are adequately addressed by the Chamber. To keep the Chamber members informed on a regular basis about any interesting developments in the areas being monitored.
To ensure that the interest of the Chamber Members and the local Private Sector are adequately represented at the various forums.
2.
SECURITY COMMITTEE
Terms of Reference
MEMBERSHIP COMMITTEE
Terms of Reference
To liaise with the Ministry of Foreign Trade and International Cooperation (MOFTIC) on matters relating to the World Trade Organization (WTO), Free Trade Area of the Americas (FTAA), European Union (EU) /African, Caribbean and Pacific Group of States (ACP), Economic Partnership Agreement (EPA) and the Caribbean Community (CARICOM).
To keep the Membership of the Chamber informed on a regular basis about any interesting developments in the areas being monitored.
3.
4.
FINANCE COMMITTEE
Terms of Reference To liaise with Government on Financially-sensitive issues of importance to the Chamber’s Membership. To ensure that the Chamber remains financially viable in the short to medium terms.
To develop a team that can mediate / advise and otherwise interact with our national security network on issues relating to crime.
To ensure that the budgetary controls in place at the Chamber are followed.
In cooperation with the Public Relations SubCommittee, develop educational materials that can assist members of the business community to be better prepared to handle everyday crime: robbery, kidnapping, etc.
To liaise with bilateral and multilateral donors on matters associated with the Chamber.
To keep the members of the Chamber informed on a regular basis about any interesting developments under its preview. Liaise with the Guyana Police Force and other relevant authorities at least every three (3) Months to discuss matters of concerns for the Business Community.
To seek donor & other funding for the Chamber’s Secretariat.
To keep the Chamber members informed on a regular basis about any interesting developments in the areas being monitored.
21 2014 2015 5.
PUBLIC RELATIONS & FUNDRAISING COMMITTEE Terms of Reference To ensure that the Chamber remains financially viable in the short to medium term. To coordinate the planning of any fundraising and promotional initiatives such as Annual Dinner, Luncheons (Speaker Programs) etc. To plan & coordinate Promotional activates for the Chamber so that Businesses can view the Chamber as having a unified voice for the Business Community. To develop a Public Relations Strategy for the Georgetown Chamber of Commerce. To ensure that timely communications are sent to members on matters of importance to the Chamber and the Business Community. To notify the general public through Press Releases.
Annual Report
To engage in both proactive and reactive advocacy (help to set the policy agenda by voicing concerns and proposing specific policies as opposed to only reacting to proposals already on the table). To keep abreast of imminent and current policy proposals so that they can thoroughly examine the issue and prepare a sound policy response. To help prevent frequent changes to the businessrelated legal and regulatory framework that scares away investors and hinders entrepreneurship. To monitor implementation of advocated policies to ensure that they are administered fairly, consistently, and swiftly, thereby strengthening the rule of law. To publicize successes to “brand” the association as an active agent of positive change.
REPRESENTATION ON VARIOUS BOARDS / COMMITTEES
To work in collaboration with other Sub-committees to produce educational and informative material, this will be of benefit to the Chamber Members.
Fire Advisory Board
To keep the Chamber Members informed on a regular basis about any interesting developments in the area being monitored.
Traffic Advisory Board
6.
Georgetown Chamber of Commerce & Industry
Tourism Procurements Board
Ministry of Education Tender Board
ADVOCACY & GOVERNANCE COMMITTEE
Terms of Reference To articulate members’ concerns in a unified voice attracting policymakers’ attention. To meet regularly with decision-makers to discuss key policy issues and establish channels of communication and close working relationships with their staff. To provide sound policy-relevant information to policymakers so that they may start automatically turning to business associations for policy advice.
Guyana Revenue Authority (GRA)/Private Sector Commission (PSC) Private Public Dialogue Body Judicial Review Committee Guyana Forestry Commission Guyana National Bureau of Standards
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2014 2015 22
Celebrating
Georgetown Chamber of Commerce & Industry
of
T
Service to the Guyana Business Community
The Georgetown Chamber of Commerce and Industry
is a Private Sector Organisation reflective of the corporate business community in Guyana and has a common interest in sharing their experiences and promoting the growth and development of private enterprise and investments in Guyana. Since its establishment in 1889, the Chamber has been actively involved in fulfilling its mandate as is stipulated by the Constitution as well as its Core Values. In 1890 when the Chamber published its first Annual General Report, the Council wrote, “At a meeting of the Royal Agricultural and Commercial Society held on 29th December 1888, a Commercial committee was appointed to meet a long felt want which exist for duly constituted body by whom questions affecting the Commercial interests of the Colony might be discussed.” “Representation has been made to the Government on several matters affecting commercial interests…”
To satisfy the diverse business interests of its members and firms seeking information about doing business in the colony the Chamber launched a journal, the Commercial Review, “Devoted to the Trade, Industry and Well Being of British Guiana and the West Indies.” In 1968 the name of the journal was changed to “Guyana Business”. That same year during the presidency of Mr. S. MM. V. Nasseer the Chamber acquired the property in Waterloo Street, its present headquarter. Most of the persons who were elected presidents of the organization represented foreign owned companies, for example, Bookers, Sandbach Parker, Demerara Bauxite Company, Demerara Tobacco Company, Sprostons and the Banks. However, in1966, the Gajraj family who operated a merchant and motor vehicle business gave the Chamber its first East Indian President (Guyanese) Mr. Harold Gajraj. His brother, Mr. R. B. Gajraj was also a member of the Chamber’s Executive Council. It was nearly two decades after its first East Indian President that the Chamber
23 2014 2015
Annual Report
Georgetown Chamber of Commerce & Industry
elected its first African Guyanese President in the person of Mr. Wainwright McKenzie. By then there were significant changes in the culture of the business environment, and the nature and size of businesses that make up its membership. As a direct consequence of this new inclusiveness, the Chamber’s immediate past president and current president are two young, dynamic African Guyanese businessmen Mr. Clinton Urling and Mr. Lance Hinds respectively.
Market. In the year 1962, The Chamber held discussions with a Trade Mission from Italy with deliberations on matters affecting Trade and Industry, particularly, trade between the colony and Australia. 1968 saw a great opportunity for the Chamber to realize its mandate as set out by its Ordinances when it re-asserted its loyal support to the Government regarding the continuous harassment of our country outside of its borders.
In the late 1950s members of the Chamber took s keen interest in the discussion on federation. They debated the issues and carried a resolution accepting Federation with reservations. In the mid 1960s the Chamber was a member of the subcommittee to discuss the impact of CARIFTA especially the protection to be granted to “infant industries”, and Britain’s entry into the European Common
Despite the onset of “Cooperative Socialism” in 1970 and the waning influence of the private sector, the Chamber continued its involvement in a wide range of activities. For example in 1972, the Chamber endorsed the government’s programme to: “feed, clothe and house the nation” by 1976. President A R Yhap reported on representations made on behalf of many sectors of the society because
Georgetown Chamber of Commerce & Industry
Annual Report
2014 2015 24
the Chamber’s committees reflected the priorities of the economic thrust of the country. The decade closed with the Chamber being represented on several boards including the University of Guyana and the Caribbean Association of Industry and Commerce. In the 1980s there were several challenges resulting from the impacts of nationalization and import restrictions. Nonetheless, the Chamber declared 1980 to be the Industrial year and in 1982 changed its name by act of Parliament to the Georgetown Chamber of Commerce and Industry with 12 objectives the first of which was “the promotion and protection in Guyana of Trade and Services, local, regional and foreign.� Presidents attended numerous seminars, meetings and workshops and support was given to the Metric System. When the 80s continued to see depression in the national economy, the Chamber in both oral and written presentations reiterated the need for substantial inflow of capital investments.
Despite the implementation of the Economic Recovery Programme in the late 1980s and its promise of revitalization of the private sector, its effects were slow in manifesting itself. Consequently, in the 1990s members of the Chamber found it difficult to meet their financial obligations. Nonetheless, the Chamber continued to represent the business community, albeit, less robustly than it had done, in part because of poor participation in its work by its general membership. However, the 21st century gave birth to a new and improved Chamber of Commerce and Industry. The Constitution and subscription of members were revised. To ensure the continued viability and relevance of the Chamber, in 2008 it launched its Five Year Strategic Plan primarily for the purpose of making decisions on allocation of resources.
25 2014 2015
In its resolve to continue to serve the interests of its membership, in 2010 it launched a Code of Conduct, a new publication “Business Guyana� an Investor’s Guide to Doing Business in Guyana and a Business Directory. In keeping with changing nature of communication the Chamber launched a website which offers quick and easy access to relevant and timely information on the Chamber awards were added. The Chamber now has 125 years of experience as a nongovernmental organization and has continued to contribute tremendously to the Guyana business community. The future of the Chamber encompasses more aggressive efforts to improve and widen the base of its membership, training of its members to give them the expertise needed
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to navigate the changing business environment, nationally, regionally and internationally. It will also work towards refurbishing of the building, adopting necessary measures to continue to improve its financial situation and to continue to employ experienced and qualified individuals to further the objectives of the Chamber in the interests of its members and the community at large.
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Executive Director’s Report
Bonita Marissa Lowden Executive Director
It is a pleasure to present the 2014-2015, Annual Report to the members of the Georgetown Chamber of Commerce and Industry (GCCI). Your Chamber has been working for 125 years to build a stronger, more prosperous Guyanese business community, and in doing so, make Guyana a better place to live and work for all. The Chamber does this by helping member businesses like yours connect with each other; grow your businesses and work together to influence important policy discussions. The Chamber continues to play an important role of speaking on behalf of the business community in matters relating to their ability to do business. Members continue to place a high value on advocacy as shown in our recent Business Needs Assessment Survey. As the strongest advocate for Guyana’s business community, the Chamber works with all stakeholders to ensure an environment in which businesses can develop and prosper. The Chamber’s policy work begins with insightful conversations with its members as well as the feedback and ideas that are generated through policy committee meetings, made up of members across a wide spectrum of Guyanese business.
Membership Achievements Networking Referrals Marketing Leadership Community Advocacy Sponsorship Growth Professional Development
The Chamber exists to make your business more successful. We help you to connect to other businesses, new customers and industry icons through networking and top-tier business events.
We help you grow your business using promotional opportunities and educational workshops. We also help influence policy makers shape policy and engage in public conversation on issues important to your business. In presenting the membership priorities for the year 2014-2015, we addressed three main areas of focus: business development, member engagement and sustainability. Through a growing array of valuable events, our members are actively engaged and experienced professional and personal growth. Once our members become actively involved, they see results almost immediately.
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For the year 2014 and up to January, 2015, the Chamber added nineteen (19)new members, namely: 1. Aruwai Enterprise Inc. 2. Lenray’s Investments 3. Navigant Builders 4. Kaizen Environmental Services 5. Ramps Logistics (Guyana) Inc. 6. Xetech Enterprise 7. International Recruiters 8. Designer’s Trend 9. Creditinfo (Guyana) Inc. 10. Esso Exploration and Production Guyana Limited 11. JTW and Associates Management Institute 12. Guyana Environmental Health and Safety Foundation 13. HAB International 14. Jerries 15. Pyramid Networks Inc. 16. Assuria General (GY) Inc. 17. Inspire Inc. 18. Guyana Logistics and Support Services Inc. 19. UMAMI Inc.
► Member to Member Discount Programme The GCCI, through the Member to Member Discount Programme, is committed to helping its members cut costs and save money whenever possible in an ever changing economic environment.
The Chamber also reinstated the category of Honorary Membership which is the highest honour that the Chamber presents to an individual and is limited to holders of official positions within and without Guyana and persons distinguished in statesmanship, diplomacy, commerce, industry or finance. This elite group represents those individuals who have given outstanding service towards private sector and national development, thereby, improving the competitiveness of our country.
The Member to Member Discounts list is updated on a regular basis, so be sure to keep updated to see if there are members providing special incentives that are right for your business or personal needs.
The following individuals are now Honorary Members of the GCCI: 1. H.E. Andrew Ayre, High Commissioner of the British High Commission 2. H.E. Francisco Olguin, Ambassador of the Embassy of the United Mexican States 3. H.E. Nikolay D. Smirnov, Ambassador of the Embassy of the Russian Federation 4. Brigadier David Granger, Leader of the Opposition 5. Honourable, Dr. Ashni Singh, Minister of Finance, Ministry of Finance
6. 7. 8. 9.
Honourable Irfaan Ali, Minister of Tourism, Industry and Commerce Honourable Robert Persaud, Ministry of Natural Resources and the Environment Honourable Clement Rohee, Minister of Home Affairs Mr. Kurshid Sattaur, Commissioner General, Guyana Revenue Authority
Designed to enhance your membership value, this is a discount programme where everyone benefits: you extend special benefits to other GCCI members for your business and in return you receive advertising, recognition and referrals at many other businesses. ONLY members of the programme are able to benefit from the offers. Thus, take advantage of this opportunity; add your business to our growing list of participating members. There are no fees to participate.
► First Membership Recruitment Video Launched! As part of a Membership Recruitment and Membership Retention exercise to communicate the value of joining the Chamber and share returns on investments. Under the Membership Committee, the Chamber pursued the production of its very own Membership Recruitment Video as a testimony to the good work of the organisation. This video was launched at the Gala Dinner and Awards Ceremony held in December 2014. This video is charged with communicating the value of the Chamber to members, prospects, the media, government officials and policy makers. It is easy to list chamber events and the benefits of membership, but explaining practical values of chamber membership takes more effort.
35 2014 2015 the benefits of membership, but explaining practical values of chamber membership takes more effort.
Improved Communication and Access to Information ► Television Programme: The Chamber’s Business
Review The Chamber continues to air its television programme called “The Chamber’s Business Review” on the National Communications Network (NCN), Channel 11 and Guyana Times Television, Channel 28 because of their wide broadcast reach across the country. The programme is an informative television magazine intended to showcase the activities of the GCCI, featured interviews of prominent business personalities and the broadcast of our popular training seminars for the entire country’s benefit. ► Publications The Chamber continues to produce publications with intent to provide information to investors and the business community, mainly, the Business Guyana Magazine and the Business Directory which are also available on the Chamber’s website. ► Research Initiatives 1. Intellectual Property Rights Since Intellectual Property Rights (IPR) influences innovative activity, the Chamber decided to seek the services of a researcher to conduct a study on IPR to gain a better understanding of the effects of IPR on innovation so that policy makers candesignmore optimal national property rights regimes. The project aimed to inform the creation of multilateral agreements on IPR and examine whether the effects of IPR on innovation depend on the country’s level of development, thus informing policies aimed at international development. The study also examined the social impact of Intellectual Property Laws (IPL) as they relate to health, food security, education, new technologies, preservation of bio-cultural heritage, and contemporary challenges in promoting the arts. It explored how intellectual property frameworks could be better calibrated to meet socioeconomic needs
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in countries at different stages of development by using a cross country analysis, with local contexts and culture in mind. 2. Guyana Revenue Authority (GRA) Research The Chamber partnered with the Canadian Executive Services Organization (CESO) to conduct a study with members of the private sector to determine the challenges with the import and export process of the Customs and Trade Division of the GRA. The study which was executed by CESO volunteer Mr. George Vonasaimed to help determine the length of time, the cost and the number of procedures required to complete a trade transaction. The findings helped the GCCI to identify what actions needed to be done to reduce the time, cost and procedures in respect of both imports and exports activities to effectively facilitate cross border trade. 3. Historical Research of Private Sector Development Since 1889 The Chamber celebrated its 125th Anniversary throughout the year 2014 until March,2015 with a series of activities. With so much to celebrate, the Chamber embarked on a research initiative on private sector development since the establishment of the Chamber in 1889. The historical report outlined a history timeline of private sector development in Guyana and highlights of the significant periods of the Chamber’s evolution. ► Surveys 1. Members’ Attitudinal Survey The Chamber’s ability to support its membership depends on understanding what they do, think, want and need. For this reason, the Chamber has developed and conducted its annual Members’ Attitudinal Survey to gain an insight into the economic challenges of running their businesses in the year 2013 and to capture their outlook for the New Year. This initiative will also be done in the year 2015 for the preceding year. 2. Business Needs Assessment Survey The purpose of this survey was to assess the level of satisfaction by the business community with existing programmes, activities, and services and provide an
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opportunity for the development of additional programmes, activities and services based on existing and potential membership needs and expectations. The goal was to increase the value of the Chamber membership to retain existing and attract new members. ► GCCI’s Business Spotlight Each week the GCCI spotlights one member company in the Business Section of Stabroek News, website and social media. It is an effort to highlight our members and drive business to the selected company
Networking and Business Connections Every year, the Chamber hosts numerous networking-related events to allow memberstoconnect with new partners and clients, and get word out to the world on what they do. These events which takes the form of seminars, guest lectures, workshops, town hall meetings, committee meetings, coalitions with other key organizations with mutual goals, after hours sessions provide exciting opportunities to learn, connect and ultimately grow your business.
Donations ► Handing over of 5 Breathalyzer Kits to the Guyana
Police Force On September 3, 2014, at the Guyana Police Force Conference Centre, a donation of five (5) breathalyzer kits with thermal printers were handed over to the Guyana Police Force by Mr. Lance Hinds, President of the Chamber. This donation, valued at G$1,499,520, was made possible by the generous contributions from the followings members of the Chamber, namely: BEV Processors, Digicel Guyana, John Fernandes Limited, John Lewis Styles, Republic Bank (Guyana) Limited and Trans Pacific Motor Spares. ► Donation to the University of Guyana On July 17, 2014, the GCCI handed over a total of G$355,000 to the University of Guyana to help assist the institution as it celebrated its 50th Anniversary. Donations were received from seventeen (17) members of the Chamber.
Internship Programme with University of Guyana Students In the year 2014, the Chamber resuscitated its internship programme with the University of Guyana.The internship programme gives students the opportunity to work directly with the Chamber to gain hands-on experience. Presently, the Chamber has two interns working at the Secretariat.
The Establishment of a Private Sector Expansion Framework The Chamber believes conceptually that the private sector must expand significantly in order for the local economy to deliver the revenue, wealth and job creation critical to the socioeconomic improvement of its citizens. It is in this vein, therefore, that the Chamber sought to establish and foster a framework under which a series of initiatives in support of this Private Sector expansion will be conceptualized and delivered. The proposed framework to be established will be based on the following fundamental pillars. i. Entrepreneurship ii. Innovation iii. SME Growth and Expansion iv. Investment/Funding v. Information and Communications Technology for Development (ICT4D) vi. Overall Growth and Wealth Creation
Partnership with CUSO International With a focus on Entrepreneurship, the Chamber partnered with Cuso International to solicit a volunteer to develop an entrepreneurship programme for young people in Guyana. Thereafter, Ms. Pamela Grant, Entrepreneur Programme Advisor wasassigned towork with the Chamber for a period of four (4) months where she engaged with a number of key stakeholders at the service delivery, advocacy and policy development levels in Georgetown. This was done so as to ascertain their support for targeted engagement of young people into the entrepreneurial sector and to identify capacity building needs and opportunities for sector leaders and youth.
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The Chamber believes that it is critical that the culture of innovation be developed and nurtured by getting High School and University graduates to tap into their creativity and channel that into creating businesses. There are lots of young people with great ideas who are unable to convert those into sustainable income-generating operations. For this reason, the Chamber has committed to finding a way to harness these ideas and support the impetus for moving those ideas from thoughts to finish.
Collaboration with the Caribbean Development Bank The Caribbean Development Bank (CDB) under the Caribbean Technological Consultancy Services (CTCS) programme has approached the Chamber to be their local executing agency to administer projects in Guyana for the Small and Micro Business Enterprises. The Chamber has since accepted this offer, especially, since the opportunity is a potential income earner as the Chamber will benefit from a percentage of the cost to administer the projects in Guyana.
Collaboration with USAID – Skills and Knowledge for Youth Employment (SKYE) Project The United States Agency for International Development (USAID)-SKYE Project sought partnership with the Chamber on their ‘Be Your Own Boss’ (BYOB) programme which was developed to guide youth on an entrepreneurial path. The role of the Chamber is to provide business mentorship for the SKYE youths who have successfully completed the BYOB training. The youths are expected to benefit tremendously from the wealth of experience, guidance and encouragement offered by the Chamber representatives.
Launch of Menu of Services The Chamber boasts an impressive menu of services aimed at helping business leaders and professionals connect, learn and grow. The Council, Executive Management Committee and staff of the Chamber are committed to working for the success of our members while ensuring that the organisationthrives. The financial investment of membership returns great dividends
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when our members utilize all that is available. So, join us in our efforts to help strengthen the business community in Guyana!
Circle of Sponsors The relationship with Chamber Sponsors is a very important and valued one. Our sponsors contribute either financially or in-kind to our organisation and we rely on this business support to achieve many of our activities. Without this support we would not be able to perform at the level that we currently do. Thank you to all our sponsors, many of whom have been part of the sponsorship team for several years.
2014 Sponsors! • • • • • • • • • • • • • • • • • • • • • • • • • • •
Ansa McAl Trading Limited Bank of Nova Scotia BK International Caribbean Airlines Limited CAMEX Restaurants Incorporated Caribbean Container Incorporated China Trading COPA Airlines CreditInfo(Guyana) Limited Demerara Tobacco Company Limited Denmor Garment Manufacturers Inc. Digicel Guyana Guyana Bank for Trade and Industry Guyana Metal Recycle Association Guyana Oil Company Limited Guyana Telephone and Telegraph Company Limited Harris Paints Impressions John Lewis Styles Machinery Corporation of Guyana Limited Modern Industries Limited New Thriving Restaurant Pegasus Hotel Guyana Republic Bank Limited Guyana TCL Guyana Incorporated The Gift Centre The New Guyana School
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I would be remiss in not acknowledging the dedicated and hardworking members of staff of the Chamber. Throughout the year we have held many events and activities and our staff are always willing and on hand to assist and attend these functions. Thank you to all staff for your valued contribution during the year. The Executive Management Committee and Council are all volunteers and give their time freely to attend meetings and other Chamber activities throughout the year. On behalf of the Chamber team, I wish to sincerely thank the Board for their guidance, wisdom and professionalism throughout the year. Last but not least, in fact the most important, is to thank you the members. As a member based organisation the Chamber cannot exist without you. It would have no purpose if it did not have members to advocate for, deliver services or support in one way or another. Your membership in the Chamber is your vote of confidence that the Chamber is doing its work and doing it to your expectations.
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A Year in Review!
Major Highlights & Accomplishments of 2014 124th Annual General Meeting The GCCI held its 124rd Annual General Meeting on Thursday, March 27, 2014 at Duke Lodge, Duke Street, Kingston, Georgetown to elect its new Council for the year 2014/2015. The Auditor’s Report and Financial Statements for the year ended 31, December, 2014 was also presented and an auditor for the following year was appointed. The featured speaker of the Opening Session of the event was Her Excellency, Dr. Nicole Giles, High Commissioner of Canada to Guyana.
Mixer – Introduction of the Council for the year 2014/2015 The GCCI hosted a mixer on Friday, May 16, 2014 at the Princess Hotel to introduce the elected Council for the year 2014/2015 to members and other stakeholders. Additionally, the GCCI recognized all those individuals whohave accepted invitations to become Honorary Members.This activity was meant to strengthen relations with other agencies and stakeholders.
Leadercast Professional Development Enterprise and the GCCIcollaborated to host a Leadercastseminar on Friday, May 9, 2014 at the Guyana International Convention Center (GICC), whereparticipants were empowered with growth insights from world-renowned leaders. Over 100,000 leaders from 14 countries attended Leadercast. The lineup of speakers included: • Andy Stanley, Leadership author and communicator • Archbishop Desmond Tutu, Nobel laureate & human rights activist live from Cape Town, South Africa • Malcolm Gladwell, Journalist and best-selling author of The Tipping Point and Outliers • Randall Wallace, Screenwriter, director, producer & songwriter (Braveheart, Secretariat) • Bill McDermott, Chief Executive Officer of SAP • Laura Schroff, Former ad sale executive and best selling author of An Invisible Thread • Dr. Henry Cloud, Clinical psychologist and leadership consultant • Simon Sinek, Best-selling author of Start with Why and leadership expert • Laura Bush, First Lady of the United States(2001-2009) via exclusive video interview
Members at the Cocktail.
The Executive Management Committee makes a toast with the President of Guyana, H.E. Donald Ramotar.
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From left: The President of the GCCI, Mr. Lance Hinds poses with members of the Diplomatic Core.
Dr. Toussant Boyce, Advisor, Vice President (Corporate Services), CDB delivering his presentation at the AML/CFT Guest Lecture.
Distinguished Lecture: Effective Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Regimes The GCCI and Scotia Bank Guyana collaborated to host a Distinguished Lecture Series on Effective Anti-Money Laundering and Countering the Financing of Terrorism (AML/ CFT) Regimes on Monday, June 2, 2014 at the Pegasus Hotel. The speaker of the event was Dr. Toussant Boyce, Advisor, Vice President (Corporate Services), Caribbean Development Bank (CDB). Participants at the AML/CFT Guest Lecture.
Public Discussion Forum: Local Government Election System The GCCI hosted a Public Forum on Guyana’s Local Government System (LGS) on Tuesday, June 10 at the Pegasus Hotel.Speakers of the forum were:
The Immediate Past President, Mr. Clinton Urling chairing the Distinguished Guest Lecture on Effective Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Regimes.
1. 2. 3.
Mr. Vincent Alexander, Commissioner, Guyana Elections Commission Mr. Keith Lowenfield, Chief Election Officer, Guyana Elections Commission Dr. R. S. Surujbally, A.A., Chairman, Guyana Elections Commission
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GCCI Members Donates to the University of Guyana
Dr. R. S. Surujbally, A.A., Chairman of the Guyana Elections Commission making a presentation at the LGS Seminar.
On July 17, 2014, the GCCI handed over a total of G$355,000 to the University of Guyana to help assist the institution as it celebrated its 50th Anniversary. Donations were received from 17 members of the Chamber. These were: 1) Unicomer Guyana Inc., 2) Texila American University, 3) Associated Industries Limited, 4) Dilip's Variety Store, 5) Rambarran's Enterprise, 6) Caribbean Container Inc., 7) Ansa McAl Trading Guyana Limited, 8) Californa Stucco Guyana Inc., 9) D & J Shipping Service, 10) Doerga Business Enterprise, 11) TSD Regional Management Services Limited, 12) Laparkan Holdings (Guyana) Limited, 13) Demerara Tobacco Company Limited, 14) John Fernandes Limited, 15) Grace Kennedy Remittance Services, 16) Roraima Airways Limited and 17) China Trading.
GCCI's Executives and GECOM’s Representatives at the Head Table of at the LGS Seminar.
President of the GCCI, Mr. Lance Hinds hands over donation to Dr. Paloma Mohamed, Dean of the Faculty of Social Sciences, University of Guyana.
After Hours Small Business Forums
Participants at the LGS Seminar.
Under the Membership Committee, the GCCI introduced an ‘After Hours Small Business Forum’(SBF) which consists of monthly “after work” drop in events regarding presentations on relevant topics for the business community at the Office of the Chamber. Each session caters for a maximum of 30 participants and provides a chance for members to meet fellow members. During 2014, a number of forums were held on various topics which were presented by various experts.
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On Wednesday, June 18, 2014, the GCCI held a forum featuring speakers: Ms.Ameena Yearwood, Business Banking Manager, Scotiabank, Guyana and; Mr. George Vonas, Volunteer Advisor, Canadian Executive Service Organization (CESO) who made presentations on the topics “Requirements for Applying for a Bank Loan” and “The Importance of a Business Plan”, respectively.
Mr. Rawle Dundas, Managing Director of Professional Development Enterprise delivering his presentation at the After Hours Forum.
On Wednesday, October 8, 2014, the GCCI held a forum featuring Mr. Joachim VedstedJakobsen, First Secretary, Head of Section Trade, Delegation of the European Union (EU) to Guyana who made presentation on the Economic Partnership Agreement (EPA) and the EU’s virtual trade desk. Ms. Ameena Yearwood, Business Banking Manager, Scotiabank, Guyana delivering her presentation at the After Hours Forum.
Mr. Joachim VedstedJakobsen, First Secretary, Head of Section Trade, Delegation of the EU making a demonstration at the After Hours Forum.
Mr. George Vonas, Volunteer Advisor, CESO delivering his presentation at the After Hours Forum.
On Thursday, August 14, 2014, the GCCI held a forum featuring Mr. Rawle Dundas, Managing Director of Professional Development Enterprise who made presentation on the topic “Enhancing Self, Enhancing Business”.
On Wednesday, November 19, 2014, the GCCI held a forum featuring Mr. Conrad Plummer, Financial Sector Specialist, Guyana Association of Bankers and; Ms. Judy Semple-Joseph, Chief Executive Officer, Creditinfo (Guyana) Inc. Presentations were made on the topic “Maximizing the Benefits of Credit Reporting”.
Ms. Judy Semple-Joseph, Chief Executive Officer, Creditinfo (Guyana) Inc. delivering her presentation at the After Hours Forum
43 2014 2015 Launching of the 5th Edition of the Business Guyana Magazine The GCCI launched the 5th Edition of the Business Guyana Magazine on Friday, June 20, 2014 at the Pegasus Hotel. The featured speaker of the event was Ms. Sophie Makonnen, Country Representative, Inter-American Development Bank (IDB). Also delivering brief remarks was Prime Minister Samuel Hinds. The “Business Guyana” magazine is a first-class high quality, annual publication that is designed to promote Guyana as an attractive destination for international business and investment.
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ProNET 2-Day Workshop on Business Strategy On Monday and Tuesday, July 21 & 22, 2014, Caribbean Export Development Agency (CEDA) in partnership with the Deutsche Gesellschaft fur Internationale Zusammenarbeit (German Agency for International Cooperation) (GIZ) and the GCCI commenced the first ever ProNet Training, a two-day workshop for Small and Medium-Sized Enterprises (SMEs) in Guyana. The objective of the collaboration was to raise the level of productivity and profitability in SMEs, allowing owners and managers to operate their businesses more efficiently and to become more competitive and export ready. The focus of the training is on building the capacity of SMEs to win business investment and new export contracts to drive private sector growth and development, especially, when countries now compete on high value added products. Therefore, having the right mix of skills and know how are essential to staying ahead on global competitors.
Attendees at the Launching of the 5th Edition of the Business Guyana Magazine.
Members of the Head Table at the Launching of the 5th Edition of the Business Guyana Magazine: From left: Ms. Dawn Stewart, Lyken’s Funeral Parlour; Ms. Sophie Makonnen, Country Representative, IDB; Honourable Samuel Hinds, Prime Minister of Guyana; Mr. Vishnu Doerga, Senior Vice President, GCCI and; Mr. Nicholas Boyer, Secretary, GCCI.
The speakers of the seminar were: Mr. Ramesh Ramdeen, Certified ProNET Master Trainer, Chief Executive Officer of the Trinidad and Tobago Manufacturing Association (TTMA) and; Ms. Joy Francis, Certified ProNET Trainer.
Participants at the ProNET 2-Day Workshop on Business Strategy.
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Handing over of 5 Breathalyzer Kits to the Guyana Police Force
Mr. Wesley Duke. The meeting was chaired by the Chairman of the Chamber’s Advocacy Committee, Mr. Clinton Urling.
On September 3, 2014, at the Guyana Police Force Conference Centre, a donation of five (5) breathalyzer kits which included thermal printers were handed over to the Guyana Police Force by Mr. Lance Hinds, President of the GCCI.
After brief introductions, the private sector attendees raised a number of concerns and issues relating to the effects of counterfeit goods on their business operations and received responses from the regulators.
This donation, valued at G$1,499,520, was made possible by the generous contributions from the followings members of the Chamber, namely: BEV Processors; Digicel Guyana; John Fernandes Limited; John Lewis Styles; Republic Bank (Guyana) Limited and; Trans Pacific Motor Spares.
The meeting concluded with several recommendations coming from the private sector which included: 1) The need to revise existing legislation to effectively tackle parallel trade and counterfeit products; 2) The need to improve the physical and technical capacity of regulatory institutions to ensure and enforce compliance; 3) The need for regulatory agencies, law enforcement and government Ministries to better coordinate their activities, and in particular at port of entries; 4) The need for training programmes for personnel at regulatory agencies to strengthen their ability to identify counterfeit products and; 5) the need to strengthen the judicial system to expedite proceedings brought against counterfeiters, among other issues. The Chamber intends to compile a report and make the recommendations available to relevant stakeholders and policy makers on this important issue.
President of the GCCI, Mr. Lance Hinds and members of the GCCI hand over the breathalyzers to the Commissioner of Police, Mr. Seelall Persaud and other members of the Guyana Police Force.
Town Hall Meeting to Discuss the Issue of Parallel Trade On Thursday, September 4, 2014, the GCCI hosted a “town hall” style meeting with representatives from the private sector; the Food and Drug Analyst Department (FDAD); the Guyana National Bureau of Standards (GNBS) and; the Guyana Revenue Authority (GRA) to discuss the increase of parallel trade and widespread presence of counterfeit products in the local market. The FDAD was represented by their Director, Mr. Marlon Cole; the GNBS by their Head of Standard Compliance Department (Import & Exports), Mr. Shailendra Rai and; the GRA by Assistant Commissioner, Law Enforcement and Investigation Division,
Members of the Private Sector at the Town Hall Meeting.
Members of the Private Sector at the Town Hall Meeting.
45 2014 2015 Entrepreneurship Workshop The GCCI held a one (1) day Entrepreneurship Workshop on Thursday, September 25, 2014 at Duke Lodge. The workshop was highly interactive, full and varied, as esteemed speakers shared new developments and best practices in the field of Entrepreneurship. Additionally, the workshop included a platform of exhibitors, who displayed opportunities, resources and services offered by their companies. Speakers featured at this workshop included: – Mr. Lance Hinds (President of GCCI) –
Dr. Rosh Khan (Director, SocialRank Media)
– Mr. Nigel Samaroo (Manager, Scotiabank, Carmichael Branch) –
Mr. David Falconer (Manager, Sales and Business Development, Creditinfo Guyana Inc.)
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Mr. Jewsuan Edmondson (Marketing Specialist, Republic Bank Guyana Limited)
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Collaboration with the Trinidad and Tobago Manufacturing Association (TTMA) A Trade Mission organized by the TTMA visited Guyana from Thursday, October 2, 2014 to Sunday, October 5, 2014 to participate in GuyExpo 2014. As part of the visit, TTMA collaborated with the GCCI to host a series of events comprising of a “Doing Business with Guyana Seminar” on October 2; “Networking Cocktail Reception” on October 2; “Business Breakfast Meeting on October 3 and; “Business Match-Making Meetings” on October 2, 3 & 5 at the Princess Hotel. The seminars were aimed to educate the trade mission from Trinidad and Tobago and Guyanese counterparts about mutual beneficial gains where companies can introduce their products and services to each other’s markets. The Business MatchMaking Meetings and cocktail brought together organisations from both countries to collaborate on mutual commercial benefits.
– Mr. Balraj Kistow (Programme Director and Faculty Member, UWI- Arthur Lok Jack Graduate School of Business) –
Mr. Eric Phillips (Lecturer, Department of Business and Management, University of Guyana)
President of the GCCI, Mr. Lance Hinds delivering remarks at the Breakfast Seminar.
Grant Procurement Training Workshop – Guyana
Participants at the Entrepreneurship Workshop.
On Tuesday, October 14, 2014, the GCCI facilitated the hosting of a Caribbean Export Development Agency (a regional export development and trade and investment promotion organization) procurement workshop. Participants of the workshop were from the five Guyanese companies that were awarded grants, namely:1) Amazon Caribbean Guyana Limited; 2) Eco Woods;3) Edward B Beharry & Company Limited; 4) Parika Sawmills Limited and; 5) Superior Shingles & Wood Product Incorporated.
Members of the Head Table at the Entrepreneurship Workshop.
The workshop provided attendees with extensive knowledge on grant contracts and procurement procedures.
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The Business Plan Competition was open to Guyanese residents, eighteen (18) years and above, who were interested in starting a business as well as existing small business owners who wanted to expand their business.
Participants at the Grant Procurement Training Work.
Roundtable on Gender Equality in Business and Employment On Wednesday, November 26, 2014, GCCI’s President, Mr. Lance Hinds participated as a panelist in a roundtable discussion on Gender Equality and Diversity in Business and Employment which was hosted by the National Working Group (NWG) at the Herdmanston Lodge.
Eligible persons had to submit a Business Plan using Scotiabank’s free Business Plan Writer tool which can be accessed by visiting Scotiabank’s website www.guyana. scotiabank.com and clicking on the Tools and Resources link under the Small Business tab. The judges were: Mr. Lance Hinds, President of the GCCI; Mr. Rosh Khan, Owner/Director of Social Rank Media; Mr. Brian Hackett, Robb Street Branch Manager, Scotiabank and; Ms. Jennifer Cipriani, Marketing Manager, Scotiabank.
Some Members of the Head Table at the Gender Equality in Business and Employment.
Scotiabank Announces Winner of Business Plan Competition On Wednesday, November 26, 2014, Scotiabank announced the winner of their Business Plan Competition, which was launched in collaboration with the GCCI in September, as one of the Bank’s Small Business Week initiatives for 2014. Seven entries were received for various projects, including online shopping; retail distribution; seasoned meats; organic juice production and sales; and clothing design and manufacturing. However, it was Mr. Lester Woolward and Ms. Samantha Austin of a new start-up called C-Post Couriers, who won the Three Hundred Thousand ($300,000) business account prize for the most comprehensive and bankable plan.
Presentation to the winner of the Business Plan Competition, Mr. Lester Woolward of C-Post Couriers.
Annual Gala Dinner & Awards Ceremony Like previous years, the GCCI held its final event for the year 2014, its Annual GalaDinner and Awards Ceremony on Thursday, December 4, 2014 at the Pegasus Hotel. The Guest Speaker of the esteemed event was the High Commissioner of Canada to Guyana, Her Excellency, Dr. Nicole Giles. The gala event was an exquisite one, whereby, extraordinary individuals and Business were recognized for their invaluable contributions to the Guyanese business community and Guyana at large.
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The Conference was intended to promote trade between Guyana and Suriname, in particular to increase Guyanese exports of goods and services to Suriname and to increase tourism between the two countries. The Conference saw the participation of thirty five (35) business executives and government officials from Suriname and members of the Guyanese private sector and Government.
Group photograph of recipients of Awards.
Major Highlights & Accomplishments of 2015 (January – March) After Hours Small Business Forums On Wednesday, January 14, 2015, the GCCI held a forum featuring Ms. Jillian Hess, Gender Specialist, Cuso International who made presentation on the topics: Gender vs Sex, Gender Equality and, Gender Mainstreaming.
Participants at the After Hours Forum.
Guyana-Suriname Trade Conference The private sector of Guyana and the Chamber of Commerce and Industry of Suriname collaborated to host a GuyanaSuriname Trade Conference from Thursday, January 15 to Saturday, January 17, 2015.
Members of the Head Table and Participants at the Guyana-Suriname Trade Conference.
Prism’s Labels and Packaging Seminar Jamaican based, Prism Communications Limited in association with the Caribbean Export Development Agency (CEDA) hosted a special seminar on Labels and Packaging. The event which was endorsed by the GCCI and the Guyana Manufacturing & Services Association was held under the theme ‘Positioning your Product in a Competitive Market Place’ on Monday, January 26, 2015 at the Pegasus Hotel Guyana. Representatives from Prism Communications Limited, an integrated marketing and communications/ advertising agency which has lead a number of local companies and corporations to marketing glory within the Jamaican community for over 20 yearsshared their knowledge and expert strategies with proprietors and executives of small businesses in Guyana to improve their brands within the competitive sphere of the export market.
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Meetings and Other Engagements
Speakers of the Labels and Packaging Seminar: From Left, Mr. Ewort Atkinson, Marketing Strategist; Ms. Beverley Hirst, Managing Director and; Mr. Craig Bernard, Associate Account Director of Prism Communications.
Press Conference held on March 28, 2014 at the Office of the Chamber on GCCI’s Notes on the National Budget for the year 2014.
Meeting with the Russian Ambassador to Guyana, H.E. Nikolay Smirnov.
Participants at the Labels and Packaging Seminar.
Youth Entrepreneurship Business Camp The GCCI in collaboration with Cuso, Society Against Sexual Orientation Discrimination (SASOD) and the Guyana National Youth Council hosted a two (2) day Business and Entrepreneurship Camp on February 19-20, 2015 at the Aracari Resort. The Camp targeted twenty five (25) individuals below the age of thirty (30) who were interested in becoming entrepreneurs. The programme provided an intensive introduction to both collegiate and corporate business education to participants and featured tours to various companies and enterprises in and around the Georgetown area to acquire first-hand information about the operations of a business.
Members of the GCCI met with the Commissioner of Police, Mr. Seelall Persaud and his delegation on Wednesday,May 14, 2014 at the Police Headquarters, Eve Leary.
The President of the GCCI, Mr. Lance Hinds met with Mr. Joachim VedstedJakobsen, First Secretary, Head of Section Trade, Delegation of the EU and Mr. M. BenediktMadl, Head of the Bilateral Section on Thursday, May 15, 2014 to discuss export and trade related matters and possible areas of collaboration.
49 2014 2015
The President of the GCCI, Mr. Lance Hinds met with the President of Kaizen Environmental, Mr. Douglas de Freitas, the Country Coordinator, Mr. Vishnu Doerga and the Admin. Assistant, Ms. Shabana Yusuf on Thursday, May 15, 2014 at the Office of the Chamber.
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On Thursday, August 14, 2014, representatives from the Chamber met with potential investors from NEXEN: A CNOC LIMITED COMPANY at the Office of the Chamber.
On Friday, August, 15, 2014, representatives of the GCCI met with Dr. Turhane Doerga, International Rice Expert and past Chief Executive Officer of Alesie Group of Companies.
On Friday, May 16, 2014, the President of the GCCI, Mr. Lance Hinds and Senior Vice President, Mr. Vishnu Doerga met with H.E. Luis Alberto Martino, Ambassador of the Argentine Republic at the Office of the Chamber.
Representatives of the GCCI met with a delegation from the Turkish Cooperation and Coordination Agency on Tuesday, September 2, 2014 at the Office of the Chamber to discuss areas of collaboration.
The President of the GCCI,Mr. Lance Hinds along with the Senior Vice President, Mr. Vishnu Doerga and; Immediate Past President, Mr. Clinton Urling met with representatives of the Essequibo Paddy Farmers Organisation on Wednesday, August 13, 2014 at the Office of the Chamber.
On Friday, September 12, 2014, the President of the GCCI, Mr. Lance Hinds met with Ms. Judy Semple-Joseph, Chief Executive Officer of CreditInfo (Guyana) Inc. at the Office of the Chamber. The meeting aimed to discuss some areas of collaboration.
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On Tuesday, September 16, 2014, the President of the GCCI, Mr. Lance Hinds met with Mr. Colin Welch (Deputy Chief Executive Officer, Technical, GPL) and Mr. Mark Ross (Social Management Coordinator), at the office of the Chamber. The Meeting aimed to discuss the Advanced Metering Infrastructure (AMI) Project.
On Wednesday, October 1, 2014, Mr. Vishnu Doerga (Senior Vice President of GCCI), along with Mr. Christopher Ram Jr. (Council Member), met with Representatives from The Price Water House Coopers (a Trinidadian company) at the Office of the Chamber. The aim of the meeting was to discuss their role in assisting the Chamber in attracting investors and providing support to boost investment in Guyana.
On Friday, September 26, 2014, Mr. Lance Hinds, President of GCCI and Mr. Komal Ramnauth, Council Member of GCCI, met with the Representatives from an American Company- Energy Electrical Integrators Corp at the Office of the Chamber. The meeting was an enlightening session about what the Company’s aims and objectives are in Guyana and more importantly what it has to offer the business community.
On Thursday, October 2, 2014, President of the GCCI Mr. Lance Hinds, along with the Senior Vice President, Mr. Vishnu Doerga, met with representatives from the Chamber of Commerce and Industry of French Guyane to discuss possible opportunities for collaboration.
On Tuesday, September 30, 2014, members of the GCCI met with Ms. DenisseOlivo, Director of Sales and Marketing, Guyana Marriott Hotel. Ms. Olivio provided an update on the progress of the construction of the hotel as well as an overview on what to expect when the hotel is officially opened.
The President of the GCCI, Mr. Lance Hinds met with representatives of United World (Mr. Connor Sullivan & Ms. Julia Maeda) on Monday, November 3, 2014 to conduct an interview and discuss areas of collaboration.
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The Senior Vice President of the GCCI, Mr. Vishnu Doerga met with representatives of Subisco International (A Surinamese Company) on Wednesday, November 5, 2014. The aim of the meeting was to provide an overview of Guyana’s Business climate and possible investment opportunities.
Innovation Award
On Wednesday, January 21, 2015, the President of the GCCI, Mr. Lance Hinds, the Junior Vice President, Ms. Padma Prashad along with other members of the Chamber met with the USAID-SKYE project coordinators to discuss a possible mentoring initiative between members and the trained SKYE Youths.
149 Crown Street, Queenstown, Georgetown
Tel: 227-7757 \ 227-7752 Email.impressionsgy@live.com \ Website: www.impressionsgy.com
SCREEN PRINT PRINTING TING • EMB EMBROIDERY • INDOOR SIGNAGE AGE • OUTDO OUTDOOR OOR SIGNAGE • PROMOTIONAL N OVELTIES • DIGITAL ADVERTISING MEDIA IA • FLAG / FABRIC F PRINTING NOVELTIES • EXPO FACIL FACILITIES • ENGRAVING • DISPLAY FIXTURES • EVENT BRANDING
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Scotiabank 2014
Notable Accomplishments History was created when Creditinfo (Guyana) Inc. received the license to operate Guyana’s First Credit Bureau with effect from July 15, 2013. Over the ensuing eighteen month period and consistent with investments to date of in excess of half a million united states dollars the company has undertaken a number of internal capacity development and external stakeholder support activities that included the development of a wide range of credit reporting products. Of significance are the SeeRisk International Business Report, the SeeID identity verification and fraud prevention module for the business sector, our Negative Data clearance report and the Creditinfo Clearance certificate.
Scotiabank in Guyana received two prestigious international awards in 2014 - the Financial Times’ Bank of the Year award for the fifth time and Global Finance Magazine’s Best Consumer Internet Bank for the fourth consecutive year.
In addition, hosting of risk management training workshops for stakeholders in the financial sector and the launch of our Public Education Campaign in collaboration with the GCCI were highlights of our activities over the past year. Creditinfo is now in live operation with the First Credit Report being used by IPED in January 2015 to assess a client’s creditworthiness.
Under the philanthropic Bright Future Programme, Scotiabankers in Guyana completed 79 events, volunteered over 1200 hours and raised over $1.2M for charitable causes benefitting children and the under-privileged generally. The Bank contributed over $14M to Bright Future initiatives which benefitted over 28,000 children and more than 500 organisations, including schools, orphanages and homes for the elderly.
Creditinfo Guyana: Making Access to Credit Easier
Locally, Scotiabank won the Guyana Business Coalition on HIV/AIDS (GBCHA) Awards for Business Excellence for Community Investment for the sixth time and Honourable Mention for Workplace Programme for the second time.
Scotiabank, with five branches across Guyana,recorded an after tax profit of $2.14B.
Senior Business Development Manager, Creditinfo Group, Mr. Kristinn Agnarsson receives the license from (late) Governor of the Bank of Guyana in the presence of Minister of Finance, Dr. Ashni Singh
In 2015, we will bid farewell to our longestserving employee in Guyana, Amanda V.M.L. St Aubyn, who is a Scotiabanker for 31 years, the last eightas Country Manager. We welcome our new Country Manager, Raymond Smith, who comes with over 3 decades of cumulative experience in field audit, branch management, sales and lending services.
53 2014 2015
GT&TMyAccount e-billing service offers effective account management
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Raj Singh Insurance Brokers 2014-2015 Highlights
GT&T continues to provide leadership in changing the way business is conducted in Guyana with the introduction of its MyAccount ebilling service. The service was launched in July, 2014 and gives GT&T’s landline, mobile and internet customerseasy access to their account details on a 24 hour basis from any internet enabled device. Individual and corporate customers have embraced this service that allows them to view their bills, check their account balances, payment due dates, and payment history. Customers also have the option to download, save or print their bills. Prepaid mobile customers can also view their last three data subscription periods and also subscribe for their data service using the MyAccount service. Another feature of the service is live chat with GT&T’s Customer Care Representatives. For easier access the GT&T MyAccount App can be downloaded from Google Play Store. GT&T will continue to deploy new features to this account management platform to offer greater customer care through self -management.
RSI is a very dynamic Firm; always adapting to the growing needs of our valued customers. In 2012, RSI opened the very first branch office for a broker in Berbice. Now entering our 17th year, we have embraced the technological/social media age through our website www.rsi.gy&www.facebook.com/rajsinghinsurance making it convenient and easier for our customers to communicate with us. In December 2014, our innovative CEO, Mr Raj Singh, collaborated with Alan Thomas, UK Marine Insurance Broker to host a Marine Seminar, which attracted the attendance of insurance companies, brokers, and other marine stakeholders in Guyana, Trinidad and Suriname. RSI is strongly committed to improving its service to customers by ensuring its employees are highly trained and qualified. In 2015, RSI’s staff became certified by the American Institute for CPCUs in Ethical Guidelines for Insurance Professionals; enhancing the confidence of our customers and the insuring public with the competence and ethical standards of our employees.
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Metro
aiming to raise its service bar even higher Twenty years after it first opened its door, Metro asserts that its intervention in the local market could hardly have come at a more strategically important time. Arguably, the launch of the company coincided with a period during which both the public and private sectors were beginning to aspire to higher services were concerned.
Accomplishment, the company says, has not meant an absence of challenges, the most serious of which it requires to retain a coveted reputation as a leader in the market. That reputation, Metro says, has been earned on account of its operational culture of not cutting corners and of offering reputable service using brands.
A new generation of forward-looking professionals, businessmen and women, state bureaucrats and academics were beginning to use the vehicle of high-quality visual presentations to make statements about the quality of services that they offered.
The market demands that it secure seventy percent of its goods from the United States. That is the surest way, the company says, of sustaining customer support won over years of confidence in what it says are tried and tested brands of stationery and equipment like Crayola, Universal, Bostich, Hewlett Packard, Hammermill and Croxley which arevery much a part of the company’s 1500-item product line and which have been critical to the gradual building of a customer base that currently numbers in the region of 3,000.
Metro believes that it stepped into a critical breach, bridging the gap between the sub-standard paper and antiquated copier culture that degraded presentation by leaving telltale traces of its inferiority behind. At this time too, a few foreign investors were beginning to show signs of serious interest in Guyana, a development which pointed to the need for the local services sector to raise its game. The market for the services which Metro sought to offer promised to be even more lucrative in the face of the demands that were being made of secondary, tertiary and university students to strive for higher standards of presentation so that voluminous copying, binding and lamination became a serious growth industry in the service sector and Metro, beginning as it did with a near captive market fared well in the niche that it had opted to explore.
The company’s four main locations are at Quamina Street and Croal Street in Georgetown; Chateau Margot, East Coast Demerara and New Amsterdam, Berbice and like so many other local enterprises in the private sector it is keen on the development of a highway between Guyana and Brazil, a development which it says will cut its own import costs and reduce the costs of services to its customers. The company’s Berbice-born Company President, Ron Ramnarayan is associated with various philanthropic initiatives in the education sector in Berbice a pursuit which the local management says has extended to supporting education else-where in the country by providing various concessions to students.
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Doerga Business Enterprise announces its acquisition of the ActionCOACH business coaching franchise for Guyana. ActionCOACH is the world’s number one business coaching and executive coaching firm, with more than 1,000 offices in over 50 countries, coaching more than 15,000 businesses every week. To learn more about ActionCoach Guyana go to http://www.actioncoach.com/vishnudoerga The role of a Business Coach is to coach business owners through guidance, support, accountability and encouragement. Business coaching helps owners of small and medium sized businesses with their sales, marketing, management, team building and so much more. As the world of business moves faster and gets more competitive it is difficult to keep up with both the changes in your industry as well as the innovations in sales, marketing and management strategies. Having a Business Coach isn’t a luxury you don’t need, it is a necessity your company must have. Call ActionCoach Guyana now on 223-5583 to receive your FREE Business Health Check!
UMAMI Incorporated - Positively disrupting the Local Agro Processed Industry –
342 Cummings Street, South Cummingsburg, Georgetown, Guyana. Tel: +11 (592) 220 9117 Email: admin@umamiltd.com Web: www.umamiltd.com UMAMI Incorporated is a local manufacturer of value added sauces and condiments that blasted onto the local manufacturing scene in December 2013. The company changed the dynamics of the industry with its sleek, modern packaging, which was a complete deviation from the norms of the traditional Caribbean manufacturer. With consistent quality and attractive packaging, the company’s products were graced with the “Made in Guyana” badge prominently and proudly displayed on the center panel of every label. Within its first year of operations, the company’s range of products through aggressive marketing, achieved local brand equity in excess of 75%, proving that the Guyanese consumer’s demand for local products of high quality and packaging
is present and growing. From the major retail chains of Georgetown to the smallest outlets of Guyana’s interior and hinterland region, UMAMI products are present. The company intends to pursue export markets regionally and internationally in 2015 with the same aggression to ensure that the quality associated with the “Made in Guyana” badge is available beyond our national borders.
Georgetown Chamber of Commerce & Industry
124
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th
Annual General Meeting The Georgetown Chamber of Commerce and Industry (GCCI) held its 124th Annual General Meeting (AGM) on Thursday, March 27th, 2014 at Duke Lodge, Duke Street, Kingstown, Georgetown, Guyana. Following the opening ceremony, twenty five (25) members were elected to vie for the twenty one (21) members Council for the year 2014/2015. No
Councillors:
Proposed by:
Seconded by:
1
Lance Hinds
Clinton Urling
Komal Ramnauth
2
Clinton Urling
Komal Ramnauth
Padma Prashad
3
Padma Prashad
Lance Hinds
Nicholas Boyer
4
Abdool Kadir
Jason Wang
Lloyd Austin
5
Jennifer Cipriani
Molly Hassan
Doris Lewis
6
Jason Wang
Abdool Kadir
Nicholas Boyer
7
Komal Ramnauth
Lance Hinds
Jason Wang
8
Vishnu Doerga
Rawle Dundas
Rajeshwer Ramrattan
9
Nicholas Boyer
Padma Prashad
Randolph Williams
10
Eon Grant
Rajeshwer Ramrattan
Rawle Dundas
11
Andrew Astwood
Abdool Kadir
Nicholas Boyer
12
Christopher Ravindra Ram
Nicholas Boyer
John Lewis
13
Rajendra Singh
Omawattie Singh
Jason Wang
14
Molly Hassan
Lance Hinds
Jennifer Cipriani
15
Coleen Patterson
Lance Hinds
Padma Prashad
16
Rajeshwer Ramrattan
Jason Wang
Komal Ramnauth
17
Eon Caesar
Doris Lewis
Andrew Astwood
18
Alfonso De Armas
Nicholas Boyer
Padma Prashad
19
Balakumar Sree
Clinton Urling
Rajeshwer Ramrattan
20
Gerald Gouveia
Komal Ramnauth
Abdool Kadir
21
Doris Lewis
Lisa Lewis
Joseph Hoyte
22
Jagmohan ‘Trevor’ Bassoo
Clinton Urling
Doris Lewis
23
John Lewis
KomalRamnauth
RajeshwerRamrattan
24
Shanti Persaud
Padma Prashad
Rajeshwer Ramrattan
25
Jean Francois-Gerin
Komal Ramnauth
Rajeshwer Ramrattan
Notes: 1. The following members were nominated in their absence: 1) Mr. Vishnu Doerga, 2) Mr. Rajendra Singh, 3) Mr. Gerald Gouveia and, 4) Mr. Jean Francois-Gerin. 2. Mr. Lloyd Austin moved the motion to close nominations and it was seconded by Ms. Lisa Lewis. Since there are only 21 seats on the Council of the Chamber (Rules: Section 8:1) voting papers and a voting register along with a locked ballot box were prepared by the Office of the Chamber (Rules: Section 8:3) to allow members to vote on the 25 nominees for the election of the 21 members of the Council for the year 2014/2015 at the meeting. Thereafter, the locked ballot box was opened and the votes were counted. Ms. Jennifer Ciprianiand and Ms. Padma Prashad helped facilitate the process for verification. After counting the ballots, the names of those elected according to the ballot were announced. The following members were elected as the new Council of the Chamber for the year 2014/2015:
57 2014 2015
No.
Name
Organisation
1
Lance Hinds
The BrainStreet Group
2
Clinton Urling
German’s Restaurant
3
Komal Ramnauth
Kojac Marketing Agency
4
Shanti Persaud
Silvie’s Variety Store
5
John Lewis
John Lewis Styles
6
Molly Hassan
Unicomer
7
Vishnu Doerga
Doerga Business Enterprises
8
Abdool Kadir
GUYOIL
9
Padma Prashad
Ansa McAl Trading Limited (Guyana)
10
Coleen Patterson
Grace Kennedy Remittance Services
11
Jason Wang
China Trading
12
Jennifer Cipriani
Scotiabank
13
Nicholas Boyer
National Hardware
14
Eon Grant
Republic Bank (Guyana) Limited
15
Rajendra Singh
Raj Singh Insurance
16
Rajeshwar Ramrattan
RRT Enterprise
17
Gerald Gouveia
Roraima Airways Limited
18
Doris Lewis
The Gift Centre
19
Jean Gerin-Francois
Amazon Caribbean Guyana Limited
20
Christopher R. Ram
Ram & McRae
21
Trevor Bassoo
New GPC
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Members of the new Council pose with Special Invitees of the 124th AGM.
In keeping with Section 9: (a) of the Rules of the Chamber, the duly elected Council shall elect out of its own body an Executive Management Committee comprising a President, a Senior Vice-President, a Junior-Vice President, a Treasurer and, a Secretary…. Following the election of the Council of the Chamber for the year 2014/2015 on Thursday, March 27, 2014, the Council held its first Statutory Meeting on Thursday, April 3, 2014 to elect out of its body, its new Executive Management Committee for the year 2014/2015. The following Councilors were elected on Thursday, April 3, 2014 as the new Executive Management Committee of the Chamber for the year 2014/2015. Name
Appointed Position
Organisation
Lance Hinds
President
The BrainStreet Group
Vishnu Doerga
Senior Vice President
Doerga Business Enterprises
Padma Prashad
Junior Vice President
Ansa McAl Trading Limited (Guyana)
Nicholas Boyer
Secretary
National Hardware (Guyana) Limited
Eon Grant
Treasurer
Republic Bank (Guyana) Limited
Additionally, the immediate Past President, Mr. Clinton Urling was invited to sit on the Executive Management Committee (Rules: Section 9: (b)) for the new Chamber year.
Featured Speaker, High Commissioner of Canada, Dr. Nicole Giles delivering her remarks at the AGM.
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Group photograph of the Council of the Chamber for the year 2014/2015.
Group photograph of the Executive Management Committee of the Chamber for the year 2014/2015.
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Gala Dinner
Georgetown Chamber of Commerce & Industry
Annual
& Awards Ceremony 2014
On Thursday, December 4, 2014, the Chamber held its Annual Gala Dinner & Awards Ceremony at the Pegasus Hotel. The Guest Speaker of the esteemed event was the High Commissioner of Canada to Guyana, Her Excellency, Dr. Nicole Giles. With over 250 guests comprising members of the business community, leading politicians, academics and community leaders, the event certainly provided an invaluable opportunity to network with like-minded business figures. This high profile event was an exquisite one, whereby, extraordinary individuals and business organizations were recognized for their instrumental contributions to the local business community and Guyana at large. The Awards Ceremony served as an apt opportunity for the local community to honour the outstanding achievements of Guyana’s very best. The evening events included a cocktail, speeches by esteemed speakers, dinner, music, and the presentation of fourteen (14) awards, comprising: Media Award, Award for Innovation, Lifetime Achievement Award, Corporate Citizenship Award, Public Service Award of Excellence, Young Business Executive, Business of the Year (Large), Business of the Year (Small to Medium), President’s Award, Long Service Award, Chamber and Past President’s Award. “This is a great time to reflect on the progress we’ve made in 2014 and look forward to the great work we will do in 2015. It is a time for our Councilors and members to come together and celebrate our success”, said the GCCI’s President, Lance Hinds.
The 2014 Award Categories and Recipients were:
1.
Past President’s Award
This award is given in recognition of the individual’s innovative leadership while serving as President of the Georgetown Chamber of Commerce & Industry. Recipient: Mr. Clinton Urling who served as President for the period 2012-2014
Mr. Lance Hinds, President of the GCCI presented the award to Mr. Clinton Urling who served as President for the period 2012-2014.
Georgetown Chamber of Commerce & Industry
2.
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Media Award
This award is given for the outstanding media coverage of the work of the Chamber and Business Community.
4.
Public Service Award of Excellence
This award is given for effectively facilitating the work of the business community by exhibiting the highest standard of service.
Recipient: The Stabroek News Recipient: Food and Drug Analyst Department of the Ministry of Health
Mr. Vishnu Doerga, Senior Vice President of the GCCI presented the Media Award to a representative from Stabroek News.
3.
Long Service Award
This award is given in recognition of long and outstanding membership, dedication and commitment to the Chamber since 1957. Recipient: Modern Industries Limited
Mr. Nicholas Boyer, Secretary of the GCCI presented thePublic Service Award of Excellence to Mr. Marlon Cole, Director of the Food and Drug Department.
5.
Corporate Citizenship Award
This award is given in recognition of the Company’s demonstration of ethical leadership, good corporate governance and community investment. Recipient: Republic Bank (Guyana) Limited
Mr. Carl Greenidge of A Partnership for National Unity (APNU) presented the Long Service Award to Mr. Hemraj Kissoon, Chief Executive Officer of Modern Industries Limited. Mr. Clinton Urling, Immediate Past President of the GCCI presented the Corporate Citizenship Award to Ms. Michelle Johnson, Marketing and Communications Manager of Republic Bank (Guyana) Limited.
61 2014 2015
6.
Award of Innovation
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Recipient 2: Mr. Christopher Ram
This award is given for recorded breakthrough achievements in technology, processes, marketing campaigns and development that have impacted positively on quality of products, services, customer satisfaction, process efficiencies, employee satisfaction and company/product image. Recipient: Sterling Products Limited
Mr. Eon Grant, Treasurer of the GCCI presented the Chamber Award to Mr. Christopher Ram, Managing Partner of Ram and Mc Rae.
8.
Young Business Executive Award
This award is given for demonstration of ambition, skill, vision and tangible business success under the age of forty. Mr. Komal Ramnauth, Past President of the GCCI presented the Award for Innovation to Mr. Dwayne Yan, Export Sales Manager of Sterling Products Limited.
7.
Recipient: Mr. Jun (Jason) Wang
The Chamber Award
This award is given in recognition of the company/individual’s demonstrated and continued active interest in the well-being of the Chamber and significant contributions to the overall success of the organization and its work. Recipient 1: Mr. Patrick Sukhlal
Honourable, Dr. Ashni Singh, Minister of Finance presented the Young Business Executive Award to Mr. Jason Wang, Chief Executive Officer of China Trading.
Ms. Padma Prashad, Junior Vice President of the GCCI presented the Chamber Award to Mr. Patrick Sukhlal, Chief Executive Officer of Impressions.
Georgetown Chamber of Commerce & Industry
9.
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Lifetime Achievement Award
11. President’s Award
This award is given for contributions to the development of the Business Environment in Guyana which present opportunities for learning in future generations.
This award is given in recognition of the company’s achievements, significant investments, growth and good corporate citizenship.
Recipient: Mr. Gordon Lyken
Recipient: CAMEX Restaurants Incorporated
Honourable, Mr. Raphael Trotmon, Speaker of the National Assembly presented the Lifetime Achievement Award to Mr. Gordon Lyken, Managing Director of Lyken’s Funeral Home.
Mr. Lance Hinds, President of the GCCI presented the President’s Award to Ms. Dawn Braithwaite, Director of Training of CAMEX Restaurants Inc.
10. Award of Achievement (Posthumous) This award is given in recognition of the individuals tangible achievements in a particular sector. Recipient: Mr. Ronald Webster
12. Business of the Year Award This award is given in recognition of the company’s demonstration of good overall performance in the areas of financial growth, customer satisfaction, internal processes improvements, employee relations, development and corporate citizenship Small to Medium Category Recipient: The New Guyana School
Mr. Lance Hinds, President of the GCCI presented the Award of Achievement (Posthumous) to Mrs. Bibi Webster, the wife of the late Mr. Ronald Webster. Honourable, Mr. Raphael Trotmon, Speaker of the National Assembly presented the Business of the Year Award (Small to Medium Category) to Ms. Krysten Sewett of the GCCI on the behalf of the New Guyana School.
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Large Category Recipient: Massy (Guyana) Limited
Mr. Khemraj Ramjattan, Leader of the Alliance for Change (AFC) presented the Business of the Year Award (Large Category) to Mr. Stuart May, Senior Brand Manager of Massy Distribution.
Honourable Dr. Ashni Singh, Minister of Finance delivering remarks on behalf of the President of Guyana at the Gala Dinner and Awards Ceremony 2014.
Group photograph of recipients of Awards
Her Excellency, Dr. Nicole Giles, High Commissioner of Canada to Guyana delivering her remarks at the Gala Dinner and Awards Ceremony 2014.
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President's Speech at the Annual Gala Dinner & Awards Ceremony 2014 Thursday, December 4, 2014 at the Pegasus Hotel
The Honorable Mr. Rafael Trotman, Speaker of the National Assembly The Honorable Dr. Ashni Singh, Minister of Finance Ministers of Cabinet The Honorable Mr. David Granger, Leader the Parliamentary Opposition Her Excellency Dr. Nicole Giles, High Commissioner of Canada to Guyana Members of the Diplomatic Corps Members of sister business support organisations Colleagues in the Georgetown Chamber of Commerce and Industry Invited Guests, Ladies and Gentlemen... Let me on behalf of the Executive, Council and members of Georgetown Chamber of Commerce and Industry thank all of you for the taking the time to be with us on this special occasion. For the benefit of some of you in the audience who might not know us, the GCCI was established in 1890 and is the oldest
private sector representative organization in Guyana. We are a member-driven and professionally staffed non-profit association of business people committed to improving the economic climate and quality of life in Guyana. We represent a significant voice of the business community and strive to advocate policies, stimulate trade and investment, connect businesses, sustain economic growth and expand member opportunities with the aim of contributing to a stable and sustainable economic and social environment. It is this philosophy that is the underpinning of what we are doing here this evening. Because if our role is to support the growth, evolution and sustainability of the private sector, It is important that we always recognize and salute those businesses that perform exceptionally in their various business endeavors. I don’t think I need to tell anyone in this room that our business environment has its challenges and some might argue it is not for the faint of heart. Therefore, those companies who push ahead, continue to expand their product offerings and horizons are more than deserving of our respect and admiration.
65 2014 2015 Quite a few of our members have expanded their operations during this year. A few weeks ago Courts Guyana opened a technologically advanced distribution facility. A new supermarket TruValue, was opened during the same period. The Massy Group also opened new distribution and logistics facility with a promise from their group CEO about a further expansion of their operations and new product offerings. We clearly live in interesting and potentially exciting times in Guyana. And as I said a few weeks ago at the opening of a new Courts facility, It seems like every time we turn around there is a delegation or a large company seeking to visit the Chamber to discuss the possibilities of entering the market and also to get a complete picture of the local business environment. What all of this means is that Guyana has become a place of significant interest. The Caribbean Export Outlook magazine in their 2014-2015 edition wonders in one their articles if Guyana is going to become the next economic tiger and reflects extensively about how that can become a reality. All of this, for all instances and purposes, augurs well for Guyana in the medium and long term. It promises growth, diversification and modernisation of our economy. It should lead to more employment, upstream and downstream business opportunities. We imagine that this kind of growth over time would reduce the level of migration of our young people because of the level and nature of employment that will be available within this new and exciting paradigm. The eternal question before us now therefore, is this. If all of these businesses, Courts, Massy, Real Value, Esso and others are expanding and investing in their facilities and services, and investors continue to show interest and make inquiries, Do we not have a responsibility as national stakeholders to ensure that this investment in Guyana that is currently in progress is justified and secure? That the faith shown in this economy is rewarded, and the excitement that is being generated inside and outside Guyana continues, and is turned into our national advantage.
Annual Report
Georgetown Chamber of Commerce & Industry
The Chamber is of the view ladies and gentleman is that now more than ever, we need to be prudent and responsible. We are all aware of the current political challenges that we face. We are in, as it said, in previously uncharted waters. Everybody is watching us now to see we conduct ourselves during this period of some uncertainty. As stated recently by one of our sister business support organizations, The Chamber believes that this is a time for maturity and level headedness, and not some of the political mechanisms that have characterized our landscape in the most recent past. We are at the crossroads of our history and our future. In 2016, we are going to be fifty years old as an independent nation. How we manage our national affairs, our political and democratic processes, now will set the tone and direction of this nation for many years to come. It is in this vein that we at the Chamber have some hopes and dreams for the New Year and beyond. It would be nice to find a way to be less consumed by politics and concentrate more on how we make the policy adjustments necessary to make this economy grow even further and become more diverse. There is no question that this economy has been growing at quite a pace but we still need to catch up with some of our Caribbean brethren in terms of overall GDP net worth. We as stakeholders have to work together to build an enabling, progressive environment that will convince our citizens to remain and provide significant inputs into the local economy. It is critical that we continue to work on the framework under which further Private Sector expansion will be conceptualized and delivered. This concept must focus on the growth of the small business sector and the active, if not aggressive, encouragement of entrepreneurship and innovation. We need to work on modernizing our legislation. The nature of the current investments in this economy and the varied types of interest means that there is going to be level of complexity
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which is not necessarily supported in our current operational environment. As an example, the development, management and distribution of intellectual assets is a billion dollar industry. We need to upgrade ourselves to participate fully and compete successfully in this area‌especially when one takes into account the enormous potential of the Cultural Industries and Technology sectors. Affordable, reliable power is critical to the nation’s future development but in 2014 still remains a very elusive quest. We continue to hope that a comprehensive solution is found soon to what has been a decades old problem. We had hoped for telecoms liberalization this year. This is critical to the growth of information technology 1) as a crosscutting component for all the productive and social sectors and 2) for the development of the ICT as a new, viable business sector in its own right. Recent events however, have prevented this.
So ladies and gentlemen these are some of the Chamber’s hopes, dreams and aspirations for the New Year and beyond. I hope that they in some way contribute to a sensible multistakeholder national discussion that is so badly needed at this time.
Let me once again congratulate the nominees for awards this evening and wish all of you very best of luck. Regardless of who receives awards this evening we believe that all of you are winners and let me assure all of you that you will always have the support of the Georgetown Chamber of Commerce and Industry as you grow from strength to strength. Let me also take this opportunity to wish all of you a Merry Christmas, happy holidays and the very best for 2015. Thank you very much.
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Export Earnings Minister of Finance, Dr. Ashni Singh in his presentation of the Mid-Year Financial Report for 2014 announced that Budget 2014 projected a continuation of positive economic growth throughout 2014.
performance of key sectors within the economy over the first six months of the year, overall growth for 2014 was projected at 4.5 percent, of which non-sugar GDP was projected to grow by 3.6 percent.
During the first half of the year, the economy recorded overall growth of 3.2 percent in real gross domestic product (GDP), within which non-sugar GDP grew by 2 percent. Given the
Data received from the Bureau of Statistics for the period January to September 2014 indicated that Guyana’s major exports were gold, rice and paddy and, bauxite.
Figure 1. Exports by Item (Including Re-Exports) ITEM
VALUE
CONTRIBUTION
(US$’000)
(%)
Gold
337,571.6
40.5
Rice & Paddy
170,463.3
20.4
Bauxite
98,337.3
11.8
Sugar
49,551.7
5.9
Timber
35,213.9
4.2
Shrimp and Prawns
28,236.9
3.4
Fish and By-Product
20,809.6
2.5
Prepared Foods
18,845.8
2.3
Bottled Rum & Spirit
16,312.4
2.0
Diamond
10,502.2
1.3
Other Exports
37,813.1
4.5
Re-Exports
9,913.0
1.2
833,570.8
100.0
TOTAL Source: Bureau of Statistics
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Figure 2. Exports by Item (Including Re-Exports)
Exports by Item (Including Re-Exports)
Customs Average R.O.E for January - September, 2014 is G$ 206.47 to US$ 1.00 Source: Bureau of Statistics
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Figure 3. Exports by Country of Destination COUNTRY
VALUE
CONTRIBUTION
(US$’000)
(%)
UNITED STATES OF AMERICA
237,844.2
28.5
UNITED KINGDOM
99,467.9
11.9
VENEZUELA
86,912.4
10.4
CANADA
72,158.4
8.7
GERMANY
50,836.5
6.1
JAMAICA
48,833.2
5.9
TRINIDAD & TOBAGO
39,889.4
4.8
UKRAINE
22,520.0
2.7
BELGIUM
17,528.0
2.1
PORTUGAL
15,956.1
1.9
OTHER COUNTRIES
141,624.7
17.0
TOTAL
534,155.9
100.0
Source: Bureau of Statistics
Figure 4. Exports by Item (Including Re-Exports)
Exports by Item (Including Re-Exports)
Source: Bureau of Statistics
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2014 2015 70
INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014
Report on the Financial Statements We have audited the accompanying financial statements of The Georgetown Chamber of Commerce and Industry which comprise the statement of financial position as at 31 December 2014 and the statement of income, statement of changes in equity and statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory notes as set out on pages 2 to 13. Directors’/Management’s Responsibility for the Financial Statements The Directors/ Management are responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view, in all material respects of the financial position of The Georgetown Chamber of Commerce and Industry as at 31 December 2014 and of its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards. Report on Other Legal and Regulatory Requirements The financial statements comply with the requirements of the Georgetown Chamber of Commerce and Industry Act.
TSD LAL & CO. CHARTERED ACCOUNTANTS 77 Brickdam, Stabroek, Georgetown, Guyana
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THE GEORGETOWN CHAMBER OFCOMMERCE COMMERCE AND INDUSTRY THE GEORGETOWN CHAMBER OF AND INDUSTRY (an entity incorporated by an act of parliament) (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) STATEMENT OF INCOME STATEMENT OF31INCOME FOR THE YEAR ENDED DECEMBER 2014
FOR THE YEAR ENDED 31 DECEMBER 2014 2014 Notes G$
2013 Restated G$
Income Subscription 125th Anniversary Commemoration After Hour Business Forum Annual Awards Annual Report Adverts Business Directory Anti money laundering seminar Breakfast forum Breathalyzer drive Business Guyana Magazine Business TechSeminar - Sponsorship Guyana Cine Film Premier Customer Service Seminar Dale Carnegie Seminar Entrepreneurship Workshop Fire Prevention seminar GCCI logo pins GCCI/ UG partnership Leadership Seminar PRONET Seminar Security Seminar Small Businee Seminar Other Income Total Income
7,052,000 3,000 3,280,000 1,125,000 200,000 1,000 9,045 13,223,876 350,000 271,000 9,000 (80,000) 390,000 726,049 26,559,970
6,809,000 3,420,000 1,599,725 4,397,863 13,556,282 365,500 20,000 211,000 565,524 36,000 80,000 184,400 125,000 510,000 641,357 32,521,651
6,323,998 11,012,152 11,522,554 579,444 792,549 30,230,697
6,887,507 9,260,978 18,030,515 66,676 602,113 34,847,789
(3,670,727)
(2,326,138)
Expenditure Administration expense Employment expense Fund Raiser expense Repairs and maintenance Utility expense Surplus/(deficit) of income over expenditure
4 5 6 7 8
"The accompanying notes form an integral part of these financial statements"
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) STATEMENT OF CHANGES IN EQUITY
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2014 FOR THE YEAR ENDED 31 DECEMBER 2014 Accumulated fund
Capital reserve
Total
G$
G$
G$
Balance at 31 December 2012
19,478,093
Deficit for the year (restated)
(2,326,138)
Balance at 31 December 2013 (restated)
17,151,955
Deficit for the year
(3,670,727)
Balance at 31 December 2014
13,481,228
36,140,654 -
36,140,654 36,140,654
55,618,747 (2,326,138)
53,292,609 (3,670,727) 49,621,882
"The accompanying notes form an integral part of these financial statements"
3
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2014
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) STATEMENT OF CASH FLOWS STATEMENT CASH FLOWS FOR THE YEAR ENDED OF 31 DECEMBER 2014
FOR THE YEAR ENDED 31 DECEMBER 2014 2014 G$
2013 Restated G$
Operating activities Surplus/(deficit)for the year
(3,670,727)
(2,326,138)
Adjustment for: Depreciation
393,670
288,144
Operating surplus/(deficit) before working capital changes
(3,277,057)
(2,037,994)
(Increase)/decrease in debtors Increase/(Decrease) in creditors and accruals Decrease in stock Increase in Prepayments Increase/(Decrease) in Deferred Income Net cash provided by/(used in) operating activities
6,172,297 5,800 (1,525,000) (7,309,973) (5,933,933)
(3,655,800) (1,951,367) 9,000 8,809,925 1,173,764
Purchase of fixed assets
(1,041,193)
(294,300)
Net cash used in investing activities
(1,041,193)
(294,300)
Net increase/(decrease) in cash and cash equivalents
(6,975,126)
879,464
Cash and cash equivalents at beginning of period
18,787,713
17,908,249
Cash and cash equivalents at end of period
11,812,587
18,787,713
11,812,587
17,262,713
Investing activities
Cash and cash equivalents at end of period Comprising: Cash on hand and at bank
"The accompanying notes form an integral part of these financial statements"
5
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) NOTES ON THE ACCOUNTS
Incorporation and activities The Georgetown Chamber of Commerce was established in 1889. In 1982, by an Act of Parliament, the name was changed to Georgetown Chamber of Commerce and Industry. If the Chamber is wound up, every person who is a member at the time of winding-up, or has ceased to be a member within the twelve months proceeding the winding-up, shall be liable to contribute to the assets of the Chamber, for payment of the debts and liabilities of the chamber contracted before the time at which he ceased to be a member. The objectives of the Chamber are:(a) the promotion and protection in Guyana of trade and services, local, regional and foreign; (b) to promote and encourage the development in Guyana of primary industries and manufacturing and processing operations with the use as far as possible of local raw materials and expertise and the application of modern and efficient methods of maintenance standards of safety and labour relations; (c) to encourage adherence by manufacturers to proper qualitative standards in their products; (d) to promote within and outside Guyana by means of advertisement, trade fairs and in any other manner, the consumption and the use of goods manufactured or produced in Guyana; (e) to assist in the procurement of overseas markets for goods produced in Guyana; (f)
to collect and disseminate statistical and other information relating to commerce, trade, manufacture and industry;
(g) to use its good offices in the settlement of disputes involving members of the local commercial and industrial community;
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) NOTES ON THE ACCOUNTS
1.
Incorporation and activities -cont’d (h)
to consider all matters connected with trade, manufacture, industry and commerce and where appropriate, to make representations and express an opinion or take a position on any such matters;
(i)
to initiate, promote or to comment on actual or proposed legislative, regulatory or administrative measures affecting trade, manufacture or industry and to communicate or co-operate with the appropriate governmental institutions in respect of such measures;
(j)
to encourage generally but more particularly among the membership, the adherence to ethical standards in trade, manufacture, industry and commerce and to aid and support in any manner other associations or bodies having objects similar to those of the Chamber;
(k)
to amalgamate or affiliate with any institution having objects similar to those of the Chamber, and in the event of an amalgamation to transfer the property of the Chamber to any such institution; and
(l)
to do all such things as may be requisite and necessary for the attainment of the objects of the Chamber, including the receiving and donation of gifts, investing the income and funds of the Chamber and the borrowing of money.
2.
Accounting policies
(a)
Accounting convention
(b)
The financial statements have been prepared under the historical cost convention as modified by the revaluation of fixed assets.
None of the new standards, interpretations and amendments to standards is expected to have a significant impact on the entity’s accounting policies.
During the year new and revised standards, amendments and interpretations came into effect. There was no major standards and amendments adopted by the entity.
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) NOTES ON THE ACCOUNTS
2
Accounting policies cont’d
(c)
Fixed assets and depreciation
No depreciation is provided on freehold property.
The estimated value and useful life of the building is such that any depreciation would be immaterial.
Depreciation is charged on the straight line method at the rate of 10 – 50% on office furniture, fittings and equipment.
(d)
Revenue and expense recognition
Income and expenses are recognized in the statement of income on an accrual basis.
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY
THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) NOTES ON THE ACCOUNTS
NOTES ON THE ACCOUNTS
3
Deferred Income
2014 G$
2013 G$
1,499,952
8,809,925
2014 G$
2013 G$
25,000 345,714 287,000 56,908 42,000 393,670 182,000 353,510 85,258 499,500 7,546 2,032 868,742 45,100 6,060 826,392 598,754 26,280 (17,460) 8,400 575,000 648,830 33,363 139,192 10,262 255,920 13,800 5,225 6,323,998
20,000 143,376 237,502 1,277,000 42,219 288,144 136,000 127,673 72,003 170,909 828 5,000 5,975 864,224 3,339 61,000 66,575 729,533 1,674,915 26,480 (42,918) 8,400 93,875 75,000 110,000 191,010 499,445 6,887,507
This represents income received in advance
4
Administration Expense 125 Anniversary Exp Accounting Service Advertising AGM Expenses Bad Debts Bank Charges Cleaning Depreciation Dinner and Luncheon Expenses Entertainment Expenses GCCI Cocktail Insurance Intellectual Property Rights Interest on Overdue Taxes Meals Exp Miscellaneous Expenses Office Expenses Payroll Penalty Revenue Stamps Postages & Stamps - Other Printing & Stationery Promotional and Advertising Rates and Taxes Reconciliation Discrepancies Rental Post Box Research History of GCCI Security Chgs Statutory Meeting Expenses Subscription Training Expenses Transportation Trinidad & Tobago Manufact. Ass Website Development Exp.
5 Employment Expense Leave Passage Allowance NIS(ER) Salary Stipend Uniforms
295,080 644,307 9,632,765 360,000 80,000 11,012,152
9
522,264 8,358,714 300,000 80,000 9,260,978
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THE GEORGETOWN CHAMBER OF COMMERCE THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRYAND INDUSTRY (AN ENTITY INCORPORATED AN ACT OF PARLIAMENT) (an entity incorporated by an act ofBY parliament) NOTES ON THE ACCOUNTS
NOTES ON THE ACCOUNTS 2014 G$ 6 Fund Raiser Expense After Hour Business Forum. Annual Dinner & Awards Expenses Annual Report Expenses Anti Money Laundering Seminar Business Directory Magazine Business Guyana Magazine Business Technology Seminar Exp Carib Export Expenses CESO-Training Exp. Cine Premiere Film Festival Customer Service Seminar Dale Carnegie Seminar. Entrepreneurship Workshop Fire Prevention Seminar GCCI Logo Pins Exp GCCI/Cine Premiere Film Fest Leadership Seminar Local Gov't Seminar PLA Seminar PRO NET Seminar Security Seminar Exp. Small Business Seminar
7 Repairs & Maintenance Compound Maintenance R&M- Building & Compound R&M Office Equipment & Furn. Website Maintenance
8 Utility Expenses Electricity Internet Services Rates-Water Telephone
10
2013 Restated G$
47,802 1,966,320 689,426 257,957 6,984,349 6,475 110,454 439,512 168,680 154,259 697,320 11,522,554
2,878,478 1,234,568 3,640,714 7,001,614 411,280 108,294 366,177 27,120 299,064 669,709 156,180 153,689 275,000 194,200 614,428 18,030,515
10,000 324,504 117,440 127,500 579,444
13,000 51,060 2,616 66,676
429,150 99,800 32,156 231,443 792,549
212,346 119,680 26,092 243,993 602,111
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY NOTES ON THE ACCOUNTS (an entity incorporated by an act of parliament) NOTES ON THE ACCOUNTS
9
Fixed assets
Office furniture, fittings and equipment
Freehold property G$
Total G$
Cost/ valuation At 1 January 2014
37,500,000
Additions
-
At 31 December 2014
37,500,000
3,004,419
40,504,419
1,041,193
1,041,193
4,045,612
41,545,612
Comprising: Valuation
37,500,000
Cost
37,500,000
-
37,500,000
4,045,612
4,045,612
4,045,612
41,545,612
Accumulated depreciation At 1 January 2014
-
2,371,033
2,371,033
Charge for the year
-
393,670
393,670
At 31 December 2014
-
2,764,703
2,764,703
Net book values: At 31 December 2014
37,500,000
1,280,909
38,780,909
At 31 December 2013
37,500,000
633,386
38,133,386
Note: (a)
Land and Building was revalued by Mr. David Patterson, Valuation Officer in April 2010. The surplus arising on the revaluation was credited to Capital Reserve.
(b) At 31 December 2014, had the assets been carried at historical cost, the carrying value would have been G$633,386 (2013- G$627,230).
10
Debtors
2014 G$
Debtors- luncheon
1,447,003
11
2013 G$ 7,619,300
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (an entity incorporated by an act of parliament) (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) NOTES ON THE ACCOUNTS NOTES ON THE ACCOUNTS
11
Creditors and accruals Other creditors Accruals
12
2014
2013
G$
G$
2,238,499 5,800
2,238,499 -
2,244,299
2,238,499
Contingent liability An application was made to the Ministry of Finance and the Ministry of Local Government for the exemption from taxation and rates and taxes respectively. If this exemption is not granted, the Chamber will be liable to taxes, interest and penalty charges, the extent of which is not presently determinable.
13
Financial risk management Financial risk management objectives The entity's management monitors and manages the financial risks relating to the operations of the entity. These risks are minimal. (i) Credit risk
Credit risk refers to the risk that a customer or counterparty will default on its contractual obligations resulting in financial loss to the company. The entity faces credit risk in respect of its receivables and cash. However, this risk is controlled by close monitoring of these balances by the entity. The maximum credit risk faced by the entity is the balance reflected in the financial statements.
Debtors
Prepayments
2014
2013 Restated
G$
G$
1,447,003 1,447,003
7,619,300 1,525,000 9,144,300
359,003 1,088,000
4,174,800 4,969,500
1,447,003
9,144,300
-
The above balances are classified as follows:. Current Past due but not impaired
Ageing of trade and other receivables which were past due but not impaired
1-30 days 31-60 days 61-90 days Over 90 days
2014
2013
G$
G$
487,500 120,000 480,500
3,982,000 987,500
1,088,000
4,969,500
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THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY. THE GEORGETOWN CHAMBER OF COMMERCE AND INDUSTRY (AN ENTITY INCORPORATED BY AN ACT OF PARLIAMENT) (an entity incorporated by an act of parliament)
NOTES THE ACCOUNTS NOTES ON THE ON ACCOUNTS 13
Financial risk management cont'd (ii) Liquidity risk Liquidity risk is the risk that the entity will encounter difficulty in raising funds to meet its commitments associated with financial instruments. The entity manages its liquidity risk by maintaining an appropriate level of resources in liquid or near liquid form. The following table shows the distribution of assets and liabilities by maturity: Within 1 year G$
Assets Debtors Cash and bank Prepayments Liabilities Creditors and accruals Taxation
Net current assets
Debtors Cash and bank Liabilities Creditors and accruals Taxation
Net current assets 14
Total G$
1,447,003 11,812,587 1,525,000
1,447,003 11,812,587 -
14,784,590
14,784,590
2,244,299 199,366
2,244,299 199,366
2,443,665
2,443,665
12,340,925
12,340,925
Within 1 year G$
Assets
2014
2013
Total G$
7,619,300 18,787,713
7,619,300 18,787,713
26,407,013
26,407,013
2,238,499 199,366
2,238,499 199,366
2,437,865
2,437,865
23,969,148
23,969,148
Restatement In 2013, certain amounts which related to income for 2014 was taken up in 2013. The Financial Statements were restated to correctly account for the transactions The effect of the restatement is shown below : Business Guyana Magazine decreased by
2013 G$ 8,809,925
Deffered Income increased by
8,809,925 13
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GCCI Membership List
ABDOOL & ABDOOL INC. 11 Avenue of the Republic, Georgetown, Guyana. Tel: (592) 226-9094 / (592) 225-3985; Fax: (592) 225-8911
BANKS DIH LIMITED Thirst Park, Ruimveldt, Georgetown, Guyana. Tel: (592) 225-0910; Fax: (592) 226-6523
AMAZON CARIBBEAN GUYANA LIMITED 46 1st Avenue, Subryanville, Georgetown, Guyana. Tel: (592) 226-2828 / (592) 226-5238; Fax: (592) 226-9883
BEAUTY & HOME SYSTEM (GUY) INC. 219 N 1/2 Camp Street, Georgetown, Guyana. Tel: (592) 227-2447 / (592) 227-2443; Fax: (592) 225-8565
ANSA McAL TRADING LIMITED (GUYANA) 60 Beterverwagting, East Coast Demerara, Guyana. Tel: (592) 220-0455; Fax: (592) 220-0796
BEHARRY AUTOMOTIVE LIMITED 191 Wellington & Charlotte Sts., L/t, Georgetown, Guyana. Tel: (592) 227-2526 / (592) 227-1349; Fax: (592) 225-0956
ARUWAI ENTERPRISE INC. 13 A Public Road, Huston, East Bank Demerara, Guyana. Tel: (592) 223-2097 / (592) 227-1987; Fax: (592) 223-2091
BEYOND IT SOLUTIONS 23 Brickdam, Georgetown, Guyana. Tel: (592) 223-0503
ASSOCIATED INDUSTRIES LIMITED D4 Starlite Square Montrose, East Coast Demerara, Guyana. Tel: (592) 226-7291-2 / (592) 226-8491-5; Fax: (592) 225-7676
CALIFORNIA STUCCO GUYANA INC. 96 Bonasika & Sheriff Streets, Campbellville, Georgetown, Guyana. Tel: (592) 225-5254
ASSURIA GENERAL (GY) INC. 18 Church Street, South Cummingburg, Georgetown, Guyana. Tel: (592) 226-7052 / (592) 226-7074; Fax: (592) 226-7123 AUSTIN’S BOOK STORE 190 Church Street, Georgetown, Guyana. Tel: (592) 226-7350 / (592) 226-7377; Fax: (592) 227-7396 B. BHAICHANDEEN LIMITED Church Street, P.O.Box 10394 Georgetown, Guyana. Tel: (592) 225-6361; Fax: (592) 227-4480 B.E.V PROCESSORS INC. Area ‘K’ Houston, East Bank Demerara, Guyana. Tel: (592) 225-2111 / (592) 226-5738 / (592) 226-7173; Fax: (592) 225-0015 BANK OF NOVA SCOTIA 65 Robb Street, Georgetown, Guyana. Tel: (592) 225 9222 Ext. 226 / (592) 223-6096 Ext. 268; Fax: (592) 225-9309
CAMEX RESTAURANTS INC. Parade Street, Fedex Building, Georgetown, Guyana. Tel: (592) 225-4923 / (592) 231-8769 / (592) 231-8768 / (592) 231-2243; Fax: (592) 231-8768 CAR CARE ENTERPRISE 43 Hadfield Street, Stabroek, Georgetown, Guyana. Tel: (592) 225-6888 / (592) 226-6162; Fax: (592) 227-6136 CARIBBEAN CHEMICALS (GUYANA) LIMITED 45 Croal Street, Stabroek, Georgetown, Guyana. Tel: (592) 225-4178 / (592) 225-9639; Fax: (592) 226-8935 CARIBBEAN CONTAINER INC. Public Road, Farm, East Bank Demerara, Guyana. Tel: (592) 265-4224 / (592) 265-4240; Fax: (592) 265-4251 CARIBBEAN INTERNATIONAL DISTRIBUTORS INC. Lot D Rome Street, Mc Doom, East Bank Demerara, Guyana. Tel: (592) 233-0867 / (592) 233-0911; Fax: (592) 233-0912
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C-G CHINA TRADING 32 Robb Street, Georgetown, Guyana. Tel: (592) 231-5878; Fax: (592) 226-3778 CHRISTIAN FRIENDSHIP INTERNATIONAL 724 Kuru Kururu, Soesdyke, Linden Highway, Guyana. Tel: (592) 261-6050 COMPUTRAIN BUSINESS SERVICE SOLUTIONS 87 'C 'Barrack Street, Kingston, Georgetown, Guyana. Tel: (592) 226-7712 CREDITINFO (GUYANA) INC. 267 New Market Street, Georgetown, Guyana. Tel: (592) 227-7005 / (592) 227-7009 D & J SHIPPING SERVICE 61 Fifth Street, Alberttown, Georgetown, Guyana. Tel: (592) 223-6056-7; Fax: (592) 223-8479 DABI'S VARIETY 40 Robb Street, Bourda, Georgetown, Guyana. Tel: (592) 231-2002 / (592) 231-3224 / (592) 226-7723; Fax: (592) 225-6309 DENMOR GARMENTS MANUFACTURERS INC. 7-9 Coldingen Industrial Estate, East Coast Demerara, Guyana. Tel: (592) 270-4513 / (592) 270-4516; Fax: (592) 270-4500
DIDCO TRADING COMPANY LIMITED Ramp Road, Ruimveldt, East Bank Demerara, Guyana. Tel: (592) 225-1994 / (592) 225-2475 / (592) 225-8837; Fax: (592) 225-2316 DIGITAL TECHNOLOGY 20 Public Road, Diamond, East Bank Demerara, Guyana. Tel: (592) 265-2932 / (592) 265-2933; Fax: (592) 265-2933 DILIP'S VARIETY STORE 7-9 Avenue of the Republic, Georgetown, Guyana. Tel: (592) 225-8123 / (592) 223-0100 DOERGA BUSINESS ENTERPRISE 120 Parade Street, Kingston, Georgetown, Guyana. Lot 52 'B', #78 Village, Corriverton, Berbice, Guyana. Tel : (592) 335-3394 / (592) 223-7766 / (592) 223-5555 ESSO EXPLORATION & PRODUCTION GUYANA LIMITED Lot 99 New Market Street, Georgetown, Guyana. Tel: (592) 231-4187 EXCEL MINERALS INC. 138 Light & Sixth Streets, Alberttown, Georgetown, Guyana. Tel: (592) 231-1701; Fax: (592) 223-7967 FIRST GLOBAL MONEY (GUYANA) INC. Lot 230 Camp Street, Lacytown, Georgetown, Guyana. Tel: (592) 223-7929
DEMERARA TOBACCO COMPANY LIMITED 90 Carmichael Street, South Cummingsburg, Georgetown, Guyana. Tel: (592) 225-1900 / (592) 225-1902; Fax: (592) 226-9322
GAME XPRESS 25 North Road, Lacytown, Georgetown, Guyana. Tel: (592) 227-8902; Fax: (592) 231-3627
DESINCO TRADING COMPANY LIMITED 48 John & Sheriff Street, Georgetown, Guyana. Tel: (592) 226-7109 / (592) 226-1805; Fax: (592) 227-6008
GAICO CONSTRUCTION & GENERAL SERVICES INC. 225 New Market Street, Georgetown, Guyana. Tel: (592) 226-5165
DESIGNER'S TREND 105 Regent Road, Bourda, Georgetown, Guyana. Tel: (592) 223-2840 / (592) 231-8474
GEB SECURITY SERVICES INC. 8-10 Providence, East Bank Demerara, Guyana. Tel: (592) 233-6607 / (592) 233-6609; Fax: (592) 233-6608
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G-H GEOTECH VISION GUYANA INC. 87 Collingswood Venue, Nandy Park, East Bank Demerara, Guyana. Tel: (592) 233-6355 GERMAN’S RESTAURANT 8 New Market Street, Georgetown, Guyana. Tel: (592) 227-0079 / (592) 225-3972 GIO TECH 64 Middle & Main Streets, South Cummingsburg, Georgetown, Guyana. Tel: (592) 226-0378 / (592) 226-0397 / (592) 231-8749 / (592) 231-8750 GRACE KENNEDY REMITTANCE SERVICES 19 C Water Street, Georgetown, Guyana. Tel: (592) 227-5147 / (592) 227-5141; Fax: (592) 227-5137 GREEN TRADE IMPORT INC. 13 North Road & Wellington Street, Lacytown, Georgetown, Guyana. Tel: (592) 223-6006 GUYANA BANK FOR TRADE & INDUSTRY High & Young Street, P.O.Box 10280, Georgetown, Guyana. Tel: (592) 231-4400/8 GUYANA ENVIRONMENTAL HEALTH & SAFETY FOUNDATION Business Address: Lot 30-31 Regent & Hincks Street, Robbstown, Georgetown, Guyana. Mailing Address: Lot 12 Farm, Mahaicony, East Coast Demerara, Guyana. Tel: (592) 221-2311 GUYANA LOGISTICS AND SUPPORT SERVICES INC. 44 B High Street, Kingston, Georgetown, Guyana. Tel: (592) 226-8041 / (592) 226-8034 GUYANA METAL RECYCLERS’ ASSOCIATION 176 Waterloo Street, South Cummingsburg, Georgetown, Guyana. Tel: (592) 231–5736 / (592) 231-5776
GUYANA NATIONAL SHIPPING CORPORATION LIMITED 5-9 Lombard Street, La Penitence, Georgetown, Guyana. Tel: (592) 226-3365 / (592) 226-1732; Fax: (592) 225-3815 GUYANA OIL COMPANY LIMITED 191 Camp Street, Georgetown, Guyana. Tel: (592) 225-1595 / (592) 225-1598; Fax: (592) 225-2320 GUYANA POWER & LIGHT 91 Duke Street, Kingston, Georgetown, Guyana. Tel: (592) 225-4618 / (592) 226-7408 / (592) 226-2601 / (592) 226-2608; Fax: (592) 227-1978 GUYANA PUBLICATIONS INC. 46-47 Robb Street, Lacytown, Georgetown, Guyana. Tel: (592) 226-2406 / (592) 227-8527; Fax: (592) 226-3237 GUYANA TELEPHONE & TELEGRAPH COMPANY LIMITED 79 Brickdam, Stabroek, Georgetown, Guyana. Tel: (592) 225-1315 GUYANA & TRINIDAD MUTUAL FIRE & LIFE INSURANCE GROUP 27-29 Robb & Hincks Streets, Georgetown, Guyana. Tel: (592) 225-7912 / (592) 225-7919; Fax: (592) 225-9397 GUYANA QUICKBOOKS AND BIND ADVISORS INC. 23 Brickdam, Georgetown, Guyana. Tel: (592) 223-0503 GX MEDIA 38 Hibiscus Place, Blankenburg, West Bank Demerara, Guyana. Tel: (592) 276-3807 HAND IN HAND MUTUAL FIRE & LIFE INSURANCE COMPANIES 1-4 Avenue of the Republic, Georgetown, Guyana. Tel: (592) 225-1865 / (592) 225-1867 / (592) 227-0668; Fax: (592) 225-7519
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H-L HARRIS PAINTS GUYANA LIMITED 10 Water Street, North Cummingsburg, Georgetown, Guyana. Tel: (592) 226-5156 / (592) 225-5630; Fax: (592) 226-7002
KAIZEN ENVIRONMENTAL SERVICES (GUYANA) INC. 263 Earl's Avenue Subryanville Georgetown, Guyana. Tel: (592) 231-0346 (592) 231-0348 / (592) 231-0348
HAB INTERNATIONAL Swiss Machinery Building - 1 Public Road, Eccles, East Bank Demerara, Guyana. Tel: (592) 233-2496 / (592) 233-2498; Fax: (592) 233-2499
KANHAI'S ELECTRICAL WORLD 42 Sandy Babb Street, Kitty, Georgetown, Guyana. Tel: (592) 602-8669 / (592) 617-3482
IMPRESSIONS 149 Crown Street, Queenstown, Georgetown, Guyana. Tel: (592) 227-7757 INTERNATIONAL RECRUITERS 195 F Camp Street, Georgetown, Guyana. Tel: (592) 654-3825 / (592) 679-0170 INSPIRE INC. 62 Area Q, Turkeyen, Greater Georgetown, Guyana. Tel: (592) 222-2042 JAPARTS 38 Croal Street, Stabroek, Geogetown, Guyana. Tel: (592) 227-3444, Fax: (592) 227-3460 JERRIES 177 Waterloo Street, South Cummingsburg, Georgetown, Guyana. Tel : (592) 231-8709
KANHAI’S GUYANA ELECTRICAL AGENCY 146 Regent Street, Lacytown, Georgetown, Guyana. Tel: (592) 227-2200; Fax: (592) 227-8652 KING'S JEWELLERY WORLD 141 Quamina Street, Georgetown, Guyana. Tel: (592) 226-0704; Fax: (592) 225-2524 KOJAC MARKETING AGENCY 140 B Quamina Street, South Cummingsburg, Georgetown, Guyana. Tel: (592) 225-5366 / (592) 227-5095 / (592) 225-2387; Fax: (592) 227-5094 LAPARKAN HOLDINGS (GUYANA) LIMITED 34-37 Water Street, Georgetown, Guyana. Tel: (592) 225-6870-9; Fax: (592) 225-6874 LASEDEL CONSULTANCY INTERNATIONAL 254 Thomas Street, South Cumminsgburg, Georgetown, Guyana. Tel: (592) 225-7154
JOHN FERNANDES LIMITED 24 Water Street, Georgetown, Guyana. Tel: (592) 225-6294 / (592) 226-3241-2 / (592) 227-3344; Fax: (592) 226-1881
LENRAY'S INVESTMENT ENTERPRISE 53 Robb Street, Lacytown, Georgetown, Guyana. Tel: (592) 227-0886
JOHN LEWIS STYLES 186 Waterloo Street, South Cummingsburg, Georgetown, Guyana. Tel: (592) 231-7321; Fax: (592) 231-3941
LEN’S 136 Sheriff & 4th Street, Campbellville, Georgetown, Guyana. Tel: (592) 227-1511 / (592) 227-2486; Fax: (592) 226-3750
JTW & ASSOCIATES MANAGEMENT INSTITUTE 157 Waterloo Street, Georgetown, Guyana. Tel: (592) 223-5148
LYKENS FUNERAL PARLOUR 18 North & John Sts.Werk-en-Rust, Georgetown, Guyana. Tel: (592) 225-9263 / (592) 227-6815; Fax: (592) 225-9263
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M-P M.P. INSURANCE BROKERS & CONSULTANTS LIMITED 46 F Brickdam & Boyle Place, Stabroek, Georgetown, Guyana. Tel: (592) 227-7782; Fax: (592) 227-7783
NEW GPC INC. A1 Farm, East Bank Demerara, Guyana. Tel: (592) 265-4261; Fax: (592) 265-2229
MACHINERY CORPORATION OF GUYANA LIMITED Lot Providence, East Bank Demerara, Guyana. Tel: (592) 265-7315 Ext 243; Fax: (592) 265-4885 / (592) 265-6004
NEW THRIVING CHINESE RESTAURANT 32 Main Street, Georgetown, Guyana. Tel: (592) 225-0038; Fax: (592) 225-1752
MARICS & COMPANY LIMITED 186-187 Charlotte Street, Lacytown, Georgetown, Guyana. Tel: (592) 226-1306 / (592) 226-1482 / (592) 231-9446 METRO OFFICE AND COMPUTER SUPPLIES Street: 127 Quamina Street, Georgetown, Guyana. Te:l: (592) 223-9870 / (592) 223-9879; Fax: (592) 223-9877 MMC SECURITY FORCE INC. 95-99 Commercial Blvd., Happy Acres, East Coast Demerara, Guyana. Tel: (592) 220-5426 / (592) 220-5416 / (592) 220-6691 / (592) 220-5203; Fax: (592) 220-6545 / (592) 220-5426 MODERN INDUSTRIES LIMITED 3-6 Industrial Site, Ruimveldt, Guyana. P.O. Box 10848, Georgetown, Guyana. Tel: (592) 223-0958 / (592) 223-0959 / (592) 225-4705; Fax: (592) 227-5265 NATIONAL COMMUNICATIONS NETWORK Homestretch Avenue, Georgetown, Guyana. Tel: (592) 223-5162 / (592) 225-8745 / (592) 227-1566 Ext 250; Fax: (592) 223-5163 NATIONAL HARDWARE (GUYANA) LIMITED 15 ‘A’ Water Street, Georgetown, Guyana. Tel: (592) 226-6569 / (592) 227-1964; Fax: (592) 226-5280 / (592) 227-0102 NAVIGANT BUILDERS 36 Barima Avenue, Bel Air Park, Georgetown, Guyana. Tel: (592) 231-5191
NOWMAIL PACKAGE-POSTAL SERVICES 41 Howes Street, Charlestown, Georgetown, Guyana. Tel: (592) 223-1788 N&S ALGOO LICENSED CUSTOMS BROKERAGE Lot 49 Public Road, Kitty, Georgetown, Guyana. Tel: (592) 225-5495 / (592) 231-1746; Fax: (592) 225-5497 NT COMPUTEAC 175 Middle Street, North Cummingsburg, Georgetown, Guyana. Tel: (592) 223-7442; Fax: (592) 223-7443 PREM'S ELECTRICAL STORE 177 Alexander Street, Lacytown, Georgetown, Guyana. Tel: (592) 227-7765; Fax: (592) 225-0394 PROFESSIONAL DEVELOPMENT ENTERPRISE 3864-3865 Cane View Avenue, South Ruimveldt Gardens, Georgetown, Guyana. Tel: (592) 218-1695 PATSAN TRADING 282 Sheriff & John Streets, Campbellville, Georgetown, Guyana. Tel: (592) 225-9832; Fax: (592) 227-7624 PEGASUS HOTEL GUYANA Old Road, Kingston, Georgetown, Guyana. Tel: (592) 225-8176 / (592) 225-2853; Fax: (592) 225-8176 POMEROON OIL MILL INC. 16 Mudlot Kingston, Georgetown, Guyana. Tel: (592) 223-5273-4; Fax: (592) 223-5266
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P-T PRINCESS HOTEL GUYANA Track 'BS' Block 2 Plantation Providence, East Bank Demerara, Guyana. Tel: (592) 265-7009-30; Fax: (592) 265-7002 PYRAMID NETWORKS 1831 Unity Place, Festival City, North Ruimveldt, Georgetown, Guyana. Tel: (592) 218-2871-2 RAJ SINGH INSURANCE BROKERS & RISK MANAGEMENT CONSULTANTS INC. Lot 86 First Street, Alberttown, Georgetown, Guyana. Tel: (592) 227-2880 / (592) 227-0294; Fax: (592) 227-3096 RAMPS LOGISTICS GUYANA INC. 23 Brickdam Stabroek Georgetown, Guyana. Tel: (592) 223-3770; International: 1-868-620-2525 RAM & MCRAE 157 ‘C’ Waterloo Street, P.O. Box 10148, Georgetown, Guyana. Tel: (592) 226-0322 / (592) 226-1301; Fax: (592) 225-4221 RAMBARRAN’S ENTERPRISE 10 Meadow Bank, East Bank Demerara, Guyana. Tel: (592) 225-9304 / (592) 227-5222 / (592) 226-0772 RENT-A-TENT 1 Rahamans Park, East Bank Demerara, Guyana. Tel: (592) 225-7063 / (592) 225-3763; Fax: (592) 225-3763 REPUBLIC BANK GUYANA LIMITED 155-156 New Market Street, Georgetown, Guyana. Tel: (592) 223-7938 / (592) 223-7940 / (592) 226-2010; Fax: (592) 223-8619 / (592) 227-4506 RORAIMA AIRWAYS LIMITED R8 Eping Avenue, Bel Air Park, Georgetown, Guyana. Tel: (592) 225-9647 / (592) 225-9648; Fax: (592) 225-9646 RRT ENTERPRISES 107 Regent Road, Bourda, Georgetown, Guyana. Tel: (592) 225-1290 / (592) 225-2237; Fax: (592) 225-1290
SAFEWAY SECURITY 153 Oronoque & Regent Streets, Bourda, Georgetown, Guyana. Tel: (592) 227-6465 / (592) 227-6473; Fax: (592) 227-6249 SILVIE'S GENERAL STORE 44 High Street, Werk-En-Rust, Georgetown, Guyana. Tel: (592) 225-4360 / (592) 227-6241-3; Fax: (592) 227-6240 SPR ENTERPRISES 45 Brickdam, Georgetown, Guyana. Tel: (592) 223-5699; Fax: (592) 223-5687 STARR COMPUTER INC. 59 Brickdam, Stabroek, Georgetown, Guyana. Tel: (592) 225-4846 / (592) 223-7773 STERLING PRODUCTS LIMITED Providence, East Bank Demerara, Guyana. Tel: (592) 265-7403-8; Fax: (592) 265-4956 THE NEW GUYANA SCHOOL Lot NGS, Houston Gardens, East Bank Demerara, Guyana. Tel: (592) 225-2135 TEXILA AMERICAN UNIVERSITY Lot "A" Goedverwagting, East Coast Demerara, Guyana. Tel: (592) 222-5224 / (592) 222-5225; Fax: (592) 231-8118 TCL GUYANA INCORPORATED GNIC Compound, 2-9 Lombard Street, Georgetown, Guyana. Tel: (592) 225-7520; Fax: (592) 225-7347 TONY’S VARIETY STORE 66 Middle Road, La Penitence, Georgetown, Guyana (Showroom). 53 Sandy Babb Street, Kitty, Georgetown, Guyana (Warehouse). Tel: (592) 227-3300 TRADE-LINC Maraj Building, 3rd Floor, Room G-8 185 Charlotte and King Streets, Georgetown, Guyana. Tel: (592) 226-0395
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T-Z TRANS PACIFIC MOTOR SPARES & AUTO SALE INC. Lot 58 Good Hope, East Coast Demerara, Guyana. Tel: (592) 220-9293 / (592) 220-9284 / (592) 220-9293 / (592) 220-9284; Fax: (592) 220-9796 / (592) 220-3171
UMAMI INCORPORATED 342 Cummings Street, South Cummingsburg, Georgetown, Guyana. Tel: (592) 220-9117
TSD REGIONAL MANAGEMENT SERVICES LIMITED 77 Brickdan, Stabroek, Georgetown, Guyana. Tel: (592) 226-3226-8; Fax: (592) 225-7578
U MOBILE (CELLULAR) INC. 9 Fort & Barrack Streets, Kingston, Georgetown, Guyana. Tel: (592) 690-0000
THE GIFT CENTRE 46 Hadfield Street & Boyle Place, Stabroek, Georgetown, Guyana. Tel: (592) 225-2609 / (592) 227-7217; Fax: (592) 225-0360
UNICOMER GUYANA INC. 25-26 Main Street, Georgetown, Guyana. Tel: (592) 225-5886; Fax: (592) 227-8751
THE BRAINSTREET GROUP 287 C Albert Street, Queenstown, Georgetown, Guyana. Tel: (592) 225-5353
ZE SCRIBE PLUS 3 Avenue of the Republic, Georgetown, Guyana. Tel: (592) 227-8304 / (592) 226-2324
THE HARDWARE DEPOT 182 Charlotte Street, Georgetown, Guyana. Tel: (592) 226-4165; Fax: (592) 226-4050
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NOTES
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