As the prospects which oil and gas hold for the Guyana economy grow increasingly apparent, potential investors from both within and outside the region are casting a contemplating eye on Guyana as the biggest single potential investment target in the region and even in the hemisphere, at this time.
In June, the Jamaican micro-finance company, Dolla Financial Services, expanded its operations into Guyana, establishing an outpost here, which, from all appearances, is being positioned for aggressive expansion. In the first instance the company is reportedly investing US$1 million in its venture, which amount will include capital expenditure and loanable funds.
With an eye to taking advantage of what will be an incremental increased in demand for investment capital here in the period ahead, Dolla, part of Jamaica’s FirstRock Capital Holdings Group and the first micro-finance outlet to open operations in Guyana says that its move here seeks to align with what the company says is its wish to bring financial inclusion to the people of Guyana.
Dolla Financial Group CEO, Kadeen Mairs, says he is excited about the company’s Caribbean expansion while asserting that “the reception received from Guyana’s private and public sectors is truly motivating. We are now ready to play our part in the economic growth of Guyana by providing access to credit.” Mairs told the Jamaica Observer that Dolla will be seeking to target the micro-, small- and medium-sized enterprises (MSME), where the loan range is from a low of US$100 to a high of US$50,000 or the Guyanese equivalent, for medium enterprises. “The receivables financing market in Guyana is under-penetrated and this is a large market for the company, which it is already penetrating,” Mairs added.
