Guyana advancing rapidly toward a fully digital economy – President Ali
President Dr Mohamed Irfaan Ali announced major strides in Guyana’s move toward a digital economy, noting the launch of a national payment platform and the readiness of two local banks to begin fully digital operations.
Delivering the feature address on Tuesday at the opening of the Guyana Energy Conference and Supply Chain Expo at the Guyana Marriott Hotel, Georgetown, the head of state said digital transformation is central to improving efficiency, transparency and access to services.
“We want our economy to run on a digital backbone,” President Ali stated. “Today, I am pleased to tell you that we have completed the process at the central bank of building out a national payment platform, and two local banks are ready to go completely on the digital platform.”
According to the president, approvals have already been granted by the Bank of Guyana, paving the way for digital wallets, electronic transfers and modern payment systems to become the new standard in financial transactions.
The president explained that the expansion of digital banking will improve financial inclusion, particularly for small and medium-sized enterprises and individuals who previously faced barriers to accessing credit and financial services.
He noted that government initiatives are also supporting entrepreneurship through collateral-free and interest-free financing, coupled with technical assistance to help small businesses develop viable proposals and manage operations effectively.
“These measures bring a whole new generation into entrepreneurship and help transform ideas into reality,” he said.
Beyond banking, President Ali emphasised that the entire public sector is being transformed through technology to deliver faster and more accurate services.
He said government systems are being modernised to reduce processing times, improve transparency and minimise human bias, forming part of a broader citizen-centric digital ecosystem.
This transformation includes digital identification systems, expanded e-government services, cybersecurity safeguards and data protection measures designed to support a modern economy.
President Ali also underscored the importance of building digital skills from an early age, noting that coding and technology training are being introduced to prepare young Guyanese for the demands of a global digital economy.
“We are not sleepwalking through this journey,” he said. “Technology is critical, and we have to adopt it in a way that allows us to sustain our success.”
The president added that investments in data infrastructure and emerging technologies such as artificial intelligence will support sectors ranging from healthcare and education to security and commerce.
He said the goal is to ensure that digital transformation improves everyday life for citizens, allowing transactions, services and opportunities to be accessed quickly and efficiently across the country.