UG students weigh in on future of business financing

See below the full statement issued:

As Guyana continues to emerge as a key player in the global business landscape, NCB Capital Markets Limited is giving University of Guyana students a chance to have their voices heard through a recently launched essay competition.

This initiative seeks to inspire the next generation of leaders to think critically about the future of financing for local businesses, a crucial topic as the nation experiences unprecedented economic growth.

“With the rapid growth of the Guyanese market, our students will soon be the ones driving the nation’s economy forward,” observed Richard Rambarran, NCB Capital Markets Limited’s Country Manager for Guyana and Suriname as he reflected on the importance of youth involvement. He continued, “We see this competition as an opportunity to engage young minds in considering the role of financing in this growth story.”

Launched on September 20, 2024, the competition asks students to tackle a complex yet timely question: “While debt remains a key financing tool, businesses worldwide are increasingly tapping equity financing, with some transitioning to public listings. Should Guyanese businesses consider this path?”

According to Rambarran, the topic is designed to encourage students to explore business financing opportunities that could unlock new potential for Guyanese enterprises.

Rambarran also believes the initiative goes beyond a simple academic exercise. “We’re not just looking for good essays. We’re looking for ideas that can shape the future of Guyana’s capital markets.

By tapping into the innovative thinking of these students, we’re hoping to bolster a culture of financial leadership that will benefit the entire country.”

In expressing their support for the initiative, officials at the University noted how timely and relevant the topic is for students.  Head of the University’s Economics Department, Dr. Sydney Armstong shared, “I fully support this initiative, as it is highly relevant to students.

Given Guyana’s economic trajectory, there is a growing need for capital market development. This initiative will help students understand the importance of capital markets and enhance their knowledge and involvement in the world of finance.

Dr. Cecil Boston, Dean at the University of Guyana, praised the initiative for its forward-thinking approach. “This competition allows our students to grapple with real-world financial issues that are directly linked to Guyana’s future economic development.

It’s a powerful opportunity for them to bridge academic learning with practical insights, all while contributing to the national conversation.”

The essay competition is open to both undergraduate and postgraduate students at the University of Guyana. First and second place winners will receive cash prizes of GYD $150,000 and GYD $100,000, respectively, along with vouchers for the Caribbean Stocks and Securities course, offered by the Jamaica Stock Exchange.

All essays must be original and adhere to a 1,500-word limit, with entries submitted to [email protected] by September 30, 2024.

The winners will be announced during the  2^nd Regional Investments and Capital Markets Conference, scheduled for October 8-9, 2024.

As part of the prize, they will also get the opportunity to present their ideas at this prestigious event, showcasing the next generation of thought leaders in Guyana.

Rambarran is optimistic about the impact this competition could have. “At NCB Capital Markets Limited, we’re committed to supporting a sustainable and inclusive financial future for Guyana.”