–with opening of New Hayven Merchant Bank

GUYANESE now a have new pool of financial resources to explore, with the official launch of the New Hayven Merchant Bank at the Marriott Hotel, on Thursday.

At the launch of the new financial institution, President, Dr. Irfaan Ali, said the aim of such investments is to ensure that Guyana is ready for the opportunities coming its way and that the people of the nation are better position to benefit from those opportunities.

“…what we want to achieve is the shared prosperity, prosperity in which we can all see, in good sense, in uplifting each other, prosperity in which we could celebrate success in a shared way,” the Head of State said.
Dr. Ali went on to say: “There are many opportunities coming our way, but there are some institutional things that must be fixed if people are to benefit from those opportunities.”

To this end, he noted that partnerships and investments for the development of Guyana must be built on a foundation that delivers equal opportunities.
Dr. Ali further related that while the government is creating an enabling environment for business, the private sector must play its role in achieving the goal of national development.

“The government has to create an enabling environment, we have to invest in infrastructure, we have to open up new lands for farm-to-market roads, we have to open up areas for new housing, we have to create enabling environment,” Dr. Ali said, adding: “When we create the enabling environment, the private sector must pick the slack up, the private sector must be in a state of readiness to take it forward and implement it and bring home the results for the country.”

New Hayven, the President said, will help in this regard, as the financial institution will provide the capital needed to advance local development.
“… we are celebrating the strategic positioning of the institution to support the growth and development of the private sector and the government,” Dr. Ali said.

Meanwhile, Business professor, accountant, financial analyst and owner of New Hayven Inc., Floyd Haynes, said that while Guyana is now more than ever poised for great opportunities, the lack of financing opportunities for business has decelerated development in some areas.

“There has never been a time in the history of Guyana when there are more opportunities for Guyanese and Guyanese business,” Haynes said, adding: “What is missing in that equation is the ability to finance ventures, the ability to bring much needed capital to help finance this kind of growth, expansion, transformation and none of that could happen without the much-needed finance and that gap we sought to fill.”

Addressing the bank’s specific objectives, Chief Executive Officer (CEO) of the bank, Kurt Kisto, said the institution aims to create value for clients by providing investment services with innovative solutions, utilising global strategies to connect them with the local opportunities and ensure all dealings are grounded in, honesty, integrity and fairness.

“With a full array of investment services, [we will facilitate] solutions through management, building meaningful and sustainable partnerships within Guyana and between Guyana the Caribbean and the rest of the world,” Kisto said.

He added that with first-hand knowledge of the country’s culture and socio-economic realities, as well as its challenges and the growth trajectory, New Hayven is well positioned to supplement Guyana’s development.

The institutions range of services include, asset management; investment banking, which is an acquisition advisory service; wealth management; equity, debt and investment financing solutions; invoice factoring; leasing real estate development; financing solutions, and, importantly, offering investment opportunities for all to participate in the country’s economic growth.

“It is, therefore, our vision to be the merchant bank of first choice. Delivering impact and value for investors and clients serving as a catalyst for positive change for the country and the people of Guyana,” Kisto said.