– President Ali highlights growth in female entrepreneurship, lending access and targeted agro-processing policies

PRESIDENT Dr Irfaan Ali has hailed the growing role of women-led enterprises in Guyana’s economy, noting that female entrepreneurs are driving investment, development and innovation across several key sectors.
The head of state made this known while responding to questions at a recent Canada-Guyana business forum during which he stated that women in Guyana were increasingly leading businesses and industries, while benefitting from expanded access to financing and government-backed initiatives aimed at boosting entrepreneurship.
Dr Ali stated that women should not be viewed through the lens of dependency or special treatment, but rather as major contributors to economic growth.
“Women are not looking for handouts,” the President said.
He added, “Women are leading. Women are empowering. Women are making the difference in our society.”
Against this backdrop, he pointed to the rapid expansion of women-owned businesses in Guyana, particularly within the contracting and agro-processing sectors. According to Dr Ali, some of the country’s leading enterprises are currently being led by women.
“We have the most women-owned contracting company in all of the region, all of the Caribbean,” he stated.
He went on to highlight the policy, which requires that 35 per cent of all new agro-processing businesses be owned by women, indicating that female participation in the sector has grown significantly in recent years.
The president further revealed that lending from commercial banks to women-owned businesses is now at its highest level in the country’s history, attributing the increase to the success and credibility of female entrepreneurs.
With this, he noted that women account for more than 70 per cent of graduates from Guyana’s universities, while more than 70 per cent of the country’s food industry is driven by women.
Along with traditional business sectors, the President outlined plans to expand opportunities for women through a new “care economy” initiative focused on childcare and elderly care services.
Under this programme, thousands of women are being trained in caregiving services. “We are now co-investing with them so they can build out their facility,” he said.
He went on to speak on the launch of a small business development programme through the Guyana Development Bank, which is aimed at removing barriers to financing for women and young entrepreneurs.
This initiative, he said, will provide interest-free and collateral-free loans to small business operators, allowing them to access additional financing from commercial banks.