African private sector group expresses interest in Guyana’s oil and gas

Nov 20, 2022 News

…to form joint ventures with local companies

From Left: Mr. Standiford Edwards; Technical Expert, CARICOM Private Sector Organization, Ms. Mahitab Bakr; Associate, Intra-African Trade Bank, Ms. Christine Beblawy; Regional Sales Director, ELSEWEDY Electric, Mr. Richard Rambarran; Advisor and Economic Consultant, GCCI, Mr. Timothy Tucker; President, GCCI, Mr. Rene Awambeng; Director and Global Head of Client Relations, Afreximbank, Mr. Kester Huston; Junior Vice President, GCCI, Ms. Naeemah Hazelle; Permanent Secretary Ag., Prime Minister’s Office and Mr. Gerald Nsomba; Consultant, Senior Specialist Trade and Corporate Finance, Afreximbank. (Photo credit and caption: GCCI)

Kaieteur News – The Georgetown Chamber of Commerce and Industry (GCCI) on Friday met with delegates from the Africa Caribbean Business Council Private Sector, comprised of representatives from the African Export–Import Bank (Afeximbank) and other African Private Sector investors interested in partnering with locals on oil and gas, mining and the construction sector.

President of the Chamber, Timothy Tucker welcomed the delegation and highlighted the body’s role in taking Guyana’s products cross-country, receiving/welcoming incoming delegations and supporting them in terms of partnerships and navigating Guyana.

Rene Awambeng, Director and Global Head of Client Relations, at Afreximbank, introduced the bank as a multilateral government financial institution, established by a treaty, providing trade-enabling infrastructure.

The bank performs a full range of duties including bank advisory, strategy and international cooperation, finance, credit services and trade financing. During interactions with the GCCI, he shared that the bank’s interest is not to compete with local banks but to simply facilitate industrialization and export development in Guyana.

“He mentioned the existence of investors in Africa interested in the mining, oil and gas, and construction sectors and the need for the Chamber’s help in identifying key institutions for joint ventures,” the GCCI said in a statement.

Further, Awambeng expressed interest in understanding the Chamber and how foreign investors can collaborate with its 700 member companies.