Source: NewsRoom

Guyana’s Telecommunications Sector was formally liberalised on Monday with the Government issuing the Commencement Orders to fully bring into force the Telecommunications Act 2016 and the Public Utilities Commission Act 2016.

Both laws were passed in the National Assembly since 2016 but were never brought into force by the previous APNU+AFC Government.

But within two months of assuming office, the People’s Progressive Party Government has sought to move the process forward with Prime Minister Brigadier (Retired) Mark Phillips issuing the orders and putting aside a Memorandum of Understanding (MoU) the Coalition Government had signed with the Guyana Telephone and Telegraph Company (GTT).

The liberalisation, while allowing for completion and an expansion of services, essentially ends the monopoly GTT holds.

“The commencement of these Acts is nothing less than historic, aligning Guyana’s telecommunications regime to those found in other countries in the world, including most Caribbean countries, ending a thirty-year-old anti-competitive telecommunications monopoly, that has left Guyanese weary, frustrated and lagging behind in the telecommunications arena,” the Prime Minister noted in a statement.

It is anticipated that Guyanese will feel an immediate positive impact from the implementation of these legislation, which create a modern and competitive environment for telecommunications, and which will immediately result in greater choices, better quality of service and lower prices for consumers.

The liberalisation also seeks to ensure that all operators continue to enjoy all benefits conferred under the old legislative regime.

“This decisive step is consistent with our Government’s vision of furthering national and regional social and economic development. The legislation specifically addresses the expansion of telecommunications networks and services into unserved and underserved areas through the institution of a new universal access/universal services programme,” the statement added.

The legislation creates a clear, harmonised framework and a level playing field for the sector that is currently lacking, and which are characterised by transparency and non-discrimination in the issuance and monitoring of licences and authorisations to use the spectrum, seamless interconnection and access between and among telecommunications networks and services, and price regulation where required to ensure competition and at the same time guarantees equal treatment of stakeholders, to the ultimate benefit and protection of consumers.

The Telecommunications Act 2016 was first laid by the PPP Government in the 9th Parliament in August 2011, and laid again in the 10th Parliament in 2012, after extensive consultations with both the public and operators.

During the life of both Parliaments, the Act enjoyed bipartisan support. It spent considerable time before a select committee, chaired by Carl Greenidge, and included Former Prime Minister Samuels Hinds, and then Minister Mohamed Irfaan Ali.

The Act was finalised before the 2015 elections and was enacted by the Coalition Government in 2016 by Minister Catherine Hughes, again with bipartisan support.

Source: NewsRoom

Prominent Attorney-at-law Devindra Kissoon has been appointed to chair the board of Atlantic Hotels Incorporated, the company which was formed to oversee the operations of the Marriott Hotel, which was built using State funds under the PPP/C Government prior to 2015.

The appointment of the Board was announced in the official gazette on October 2, 2020. The others on the board are attorneys-at-law Yolander Persaud and Marcia Nadir-Sharma, Dr Asha Kissoon of the new party The New Movement (TNM), businessman Maurice Gajadar, and Vanelda Harris, Rabin Chandarpal, and Ariane McLean.

Source: NewsRoom

A Washington based US firm, SEAF Caribbean SME Growth Fund has acquired majority ownership interest in Camex Restaurants Inc. in Guyana, which will enable the fast-food restaurant franchisee to push its growth and expansion plans.

The transaction will be completed over the coming week and was made public by a statement from The American Chamber of Commerce (AMCHAM) Guyana Inc. on Tuesday.

Camex Restaurants Inc. is recognized as Guyana’s largest restaurant operator boasting some 28 franchise/locations spread across Guyana with five, brands including Church’s Chicken, Dairy Queen, Pollo Tropical, Mario’s Pizza and Quiznos.

“Founded in 2006, Camex has grown from strength to strength employing at its peak a staff complement of over 380 team members of which approximately 80% are women. It is recognized as a good corporate citizen and has developed a reputation for delivering service and quality products that Guyanese love,” the statement noted.

Having established a presence in Guyana at a strident pace, CAMEX founder Terrence Campbell felt that it was time to bring in an international partner to drive through the next phase of growth.

Mr Campbell is expected to remain very actively involved in the business as Executive Director and Ms. Lisa Insanally will assume the role of Chief Operating Officer.

The new Board of Camex Restaurants Inc. will be Chaired by the Managing Director of SEAF, Mr Kurt Kisto and comprise Directors Terrence Campbell, Jennifer Cipriani, Leo Williams, Floyd Haynes and Zulfikar Ally.

The investment in Camex is the first for the SEAF Fund which was launched last October with its regional office in Kingston Jamaica.

With this new partnership, Camex plans to develop and add new brands to its portfolio, whilst simultaneously expanding operations across the Caricom region.

The SEAF Caribbean SME Growth Fund is a private equity fund which invests growth capital in fast-growing small and medium-sized enterprises throughout the countries of the Caribbean Common Market (Caricom).

SEAF is an investment management group headquartered in Washington D.C. which provides growth capital and business assistance to small and medium enterprises (SMEs) in emerging and transition markets, underserved by traditional sources of capital.