The Private Sector Commission (PSC) recently met with a representative of the newly-formed African Business Council to discuss ways in which the two groups could collaborate.
Eric Phillips, the Council’s representative, said it will seek to provide access to finance for African businesses and it is looking to set up an investment fund. “It will be an equity fund that will also provide management accounting and other skills to businesses,” a press release from the PSC said.
According to the release, the Council was formed by the All African Guyanese Council, which is a group of the 16 largest African organisations in Guyana, including the Pan African Movement, the Guyanese Rastafarian Council and the African Cultural and Development Association. It was registered in July 2011 and will have business councils in each region that will report to the central body. The Council has 10 trustees and is chaired by Jonathan Adams.
PSC Chairman Ramesh Dookhoo said the Commission stands ready to work with any organisation focusing on developing the private sector and creating jobs and opportunities for the nation’s youth. The Council will seek to become a member of the PSC, the release noted.