Africa Business table consults for Budget 2018

DPI, Guyana, Friday, September 29, 2017

The Ministry of Finance today hosted the African Business Roundtable (ABR) in discussions for Budget 2018, at the Ministry of Finance’s Boardroom, Main Street.

President of African Business Roundtable (ABR) Eric Phillips, and a member of the organisation.

“We spoke of our community African entrepreneurs and African business community… The discussion was intense and educational”, the President of ABR, Eric Phillips told the Department of Public Information (DPI).

Phillips said he is hopeful that the 2018 Budget will include ways that the African communities can be more involved in the development of Guyana’s economy. He said that requests were made to have a review of the procurement process so that small companies have a chance to bid, and acquire contracts.

The ABR President recalled that President David Granger had spoken about village diversification earlier this year, he said the body is of the view that “local procurement in the village begins village diversification”. Phillips pointed out that for the majority of the procurement requirements, “one is required to own your own equipment, and possess five to ten years of experience…Most of our companies don’t have that so we spoke about pooling in terms of getting equipment, and joint ventures with other communities.”

Minister within the Ministry of Finance Jaipaul Sharma.

The body will also be seeking to have training sessions countrywide to expose persons to business practices, markets, new business and product development.

The ABR is also known as the African Business Chamber of Commerce (ABCC) and was established partly out of a need to strengthen the economy of Guyana and through the influence of the United Nations General Assembly Resolutions A/Res/68/237 and A/Res/69/16 which deal with the International Decade for People of African Descent and the Programme of Action associated with it.

In an earlier interview with DPI, Minister within the Ministry of Finance, Jaipaul Sharma said the consultations are part of the process of formulating Budget 2018, to ensure that every agency has a voice in Budget 2018.

The Ministry of Finance officially began Budget 2018 consultations September 4, 2017, and it will conclude on October 11, 2017.


By: Zanneel Williams


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