–Finance Minister lauds initiative as ‘significant’

FOLLOWING the successful launch last year of the Guyana Telephone and Telegraph (GT&T) Company’s Mobile Money Guyana (MMG), the telephone company last evening launched the second phase of this service called “Shop n go”.This means that GT&T’s customers will now be able to pay for their goods and services at a wide range of places, from supermarkets, service stations, hospitals, pharmacies, restaurants, to hardware and general stores, and boutiques, just to name a few.
Minister of Finance, Dr. Ashni Singh during brief remarks at the launch held at Herdmanston Lodge in Queenstown, lauded the telephone company for its significant contribution to the economic growth of Guyana.
Minister Singh said that the launch is significant, in that it offers financial services to citizens throughout the length and breadth of Guyana. He said that Government will welcome more of such initiatives.
“It would be easy to regularise this as just the launching of another service being offered. I would want to say that this event is important and symbolic. Today’s launching is a good reminder of how much our world and country has changed,” Minister Singh pointed out.
The Finance Minister recalled a time when one had to use Telephone House and request an overseas call, or join a line at the Bank of Guyana to make telephone calls.
Today, not only do persons have the telephone in their pockets, but they can also pay bills or shop goods and services by way of telephone. Moreso, companies like GT&T had to have confidence in the future of Guyana in order to invest in such an initiative.
Minister Singh said that this development is testimony of how much people’s lives have changed over the years.
“It didn’t happen by accident; an environment was created and conducive for investment and companies like GT&T and others to invest in Guyana. The conditions were created for economic growth and prosperity for persons to have greater disposable income, so they are able to afford more goods and services,” Minister Singh stressed.
The concept of mobile money is not only about changing lives, but it is a greater revolution, he asserted.
There are over 600,000 cellular subscribers in Guyana. Minister Singh emphasised that the evolution of this industry to the country is the introduction of a new era, and that any initiative that allows for a non-cash service is commended and welcomed by Government.
He said that there is no reason why a business person should carry large sums of cash around as the risk of such a move is significant.
The Minister underscored that the industry needs to be engaged to ensure a more suitable regulatory environment is put in place.
Meanwhile, GT&T’s Chief Executive Officer (CEO) R.K Sharma said the past 20 years has brought unprecedented development increase in access to telephone service, not only in Guyana, but other developing countries.
Mobile technology and wireless Internet offer access to people, goods, services and economic opportunities that are continuously growing, promising changes in the way business is being developed and conducted.
Sharma said that the concept of electronic money, integrated in the company’s mobile phone infrastructure is of tremendous significance for the commercial, retail and financial sector.
MMG- ‘Shop n go’ can be accessed through 70 merchant locations across Guyana, including Ashmins, Giftland Office Max, New Thriving Restaurant, Jerries, Bel Air Service Station, DeSinco, Nirva’s, Gizmos and Gadgets, Cell Phone Shack,  Woodlands Hospital, A and S complex, Charity Essequibo, among others.

(GINA)