Republic Bank commits to Empretec’s venture out

Collateral-free Republic Bank loans for best business plans from 2013 Venture Out programme

Citing what it says have been “positive results and evident business growth and success among participants, Republic Bank Guyana Ltd has announced that it will further extend its support for EMPRETEC’s Venture Out For Women 2013 programme, by facilitating a total of $1 million in collateral-free loan prizes to the three participants in this year’s programme with the best business proposals.  EMPRETEC’s Venture Out programme which has benefited from Republic Bank sponsorship since 2010 is credited with embracing a two-pronged approach to empowering women engaged in small business ventures, the first component being providing participants with practical training in the effective management of businesses and the second being imbuing participants in the programme with a sense of self-confidence by promoting what ERMPRETEC has described as “entrepreneurial awareness and determination.”

Apart from removing the requirement of collateral security from the winners of the loan prizes, Republic Bank says that the loans will attract lower rates of interest. Local commercial banks have been seeking to identify themselves with initiatives that support small business development in Guyana and in a release issued late last year Republic Bank describes itself and EMPRETEC as “partners” in Venture Out, having recognized the need for initiatives of this nature. The bank says that “both global research and local experiences reveal that the needs of women entrepreneurs differ significantly from that of men.” It says the programme “allows for the education, motivation, empowerment and networking among groups of women with a view to creating and developing confident and successful business persons.”

Venture Out has secured recognition among initiatives undertaken to enhance the growth of the small business sector particularly given its focus on rural and interior women and communities and Republic Bank says that its support for Venture underscores its social investment objective  of building stronger communities.

More in Business

GO-Invest Headquarters

GO-Invest not equipped to fulfil its mandate, PSC says

Private Sector Commission (PSC) believes that the Guyana Office for Investment (GO-Invest) is ill-equipped to effectively execute its mandate at this time and is unlikely to be able to do so unless it becomes free to attract its own international funding.

Central bank rules limit commercial bank lending

Development Bank still relevant – PSC

While the risk-averse nature of commercial banks’ lending policies have helped to keep the country’s financial system viable and sound in the face of banking crises in other countries, “rigid central bank restrictions” on commercial bank lending have limited expansion, the Private Sector Commission (PSC) says.

David Falconer

Reflecting on three years of the Credit Bureau

By David Falconer Three years into its introduction the local Credit Bureau seems set to reshape the country’s financial landscape, more particularly, to forever alter the procedures associated with lending.

Parliament View Vendor Oneika Douglas

Parliament View vendors see the over reduced conditions

What has come to be known as Parliament View Mall—the description could hardly be more inappropriate—is a hotbed of muted but ill-concealed resentment amongst the more than 100 vendors evicted from the Stabroek Market Square three months ago to their new, decidedly unappealing location.

Raymond Trotz

October festival poised to raise profile of local coconut industry

Guyana’s first ever coconut festival, billed for October, is poised to do more than any previous initiative to raise awareness of the importance of the product, Chairman of the National Stakeholders Forum for Coconut Development Raymond Trotz has said.

default placeholder

Corruption present in counterfeit, expired goods import – Public Health Ministry source

As increasing numbers of cases of importation of counterfeit and/or expired goods, particularly milk, drugs, items of food and medical devices continue to show up on the local radar, a reliable Public Health Ministry source has told Stabroek Business that it is rife with corruption, adding that the authorities no longer appear to have “reliable control” over the integrity of several consignments of consumer goods imported into the country.

Comments

About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.



Stay updated! Follow Stabroek News on Facebook or Twitter.

Get the day's headlines from SN in your inbox every morning: