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Talking Dollars & Making Sense: Demystifying the Balance Sheet Sep 08, 2024 News Kaieteur News – Welcome back to Talking Dollars & Making Sense. Today, we’re unraveling the mysteries of the Balance Sheet—a fundamental financial statement that every entrepreneur should understand. Whether you’re starting out or looking to expand your business, grasping the Balance Sheet is crucial for making informed decisions. We’ll use real examples from Demerara Distillers Limited’s (DDL) 2023 Annual Report to bring these concepts to life. What is a Balance Sheet? Imagine taking a financial snapshot of your business at a specific moment in time. The Balance Sheet is exactly that—a picture showing what your business owns, what it owes, and the owner’s equity (your stake in the company) at a particular date. It’s called a “balance sheet” because it balances out: Assets = Liabilities + Equity This equation must always be in balance. Think of it like weighing scales where both sides need to be equal. Why is the Balance Sheet Important? The Balance Sheet is essential for assessing the financial health of your business. It tells you if you have enough resources to cover your debts, whether you’re growing, and whether you’re on track for long-term success. Understanding your Balance Sheet also helps you communicate with investors and lenders—they want to know your business is stable before giving you money. The Key Sections of a Balance Sheet Now, let’s break down the three key parts of a Balance Sheet—assets, liabilities, and equity—and use DDL’s 2023 Annual Report to bring these concepts to life. Assets: What Your Business Owns Assets are the resources your business controls that can provide future economic benefits. Think of assets as everything that your business can use to grow or pay off debts. Types of Assets There are two types of assets: current assets and non-current assets. Current Assets: These are assets that your business expects to convert into cash or use within a year. They are the “liquid” parts of your business—things you can quickly turn into cash to pay your bills. For DDL, current assets in 2023 were G$25.93 billion, an increase from G$22.98 billion in 2022. Key current assets include: Cash: G$927.7 million, down from G$1.29 billion in 2022. This represents the cash DDL has in hand or in the bank. Cash is crucial because it helps a business stay flexible and responsive. Inventories: G$20.71 billion, up from G$17.49 billion in 2022. Inventory is the stock of goods ready for sale. A growing inventory can be a good sign if sales are expected to increase but could be a problem if goods are not selling as expected. Trade Receivables: G$2.78 billion, down from G$3.05 billion in 2022. This represents money customers owe to DDL. A decline here could mean customers are paying faster, which is good, or that DDL is selling less on credit. Non-Current Assets: These are long-term assets that your business will use for more than a year. They include things like equipment, buildings, and long-term investments. DDL’s non-current assets in 2023 were G$41.12 billion, up from G$37.83 billion in 2022. Examples include: Property, Plant, and Equipment: G$22.73 billion, up from G$17.15 billion in 2022. This includes factories, machines, and other physical assets that help produce goods. Investments: G$9.79 billion, slightly down from G$10.11 billion in 2022. These are long-term investments, which might be shares in other companies or bonds. Retirement Benefit Assets: G$8.46 billion, down from G$10.43 billion in 2022. This is the amount DDL has set aside to cover future pension obligations for its employees. Why Assets Matter Assets are your business’s tools and resources. The more valuable and well-managed your assets, the more power you have to grow, pay off debts, and stay competitive. It’s essential to regularly review your assets to ensure they’re working for you efficiently. Liabilities: What Your Business Owes Liabilities are your business’s debts—what you owe to others. Just like with assets, liabilities are split into current liabilities and non-current liabilities. Types of Liabilities Current Liabilities: These are debts your business needs to pay off within the next year. Think of them as your short-term financial obligations, like rent, utility bills, or money owed to suppliers. DDL’s current liabilities in 2023 were G$8.39 billion, up from G$6.71 billion in 2022. Some of the key components include: Trade Payables: G$4.05 billion, up from G$4.16 billion in 2022. This is the amount DDL owes to suppliers for goods and services they’ve already received. Current Borrowings: G$3.96 billion, up from G$1.98 billion in 2022. This represents short-term loans or debt DDL must repay within the year. Non-Current Liabilities: These are long-term debts, typically due in more than a year. These liabilities might include bank loans, bonds, or future tax payments. In 2023, DDL’s non-current liabilities totaled G$5.3 billion, up from G$3.17 billion in 2022. These include: Long-Term Borrowings: G$2.69 billion, up from G$0 in 2022. This shows DDL is taking on more debt, likely to finance expansions or new projects. Deferred Tax Liabilities: G$2.6 billion, up from G$3.16 billion in 2022. These are taxes DDL will need to pay in the future, but not within the next year. Why Liabilities Matter Liabilities represent what you owe to others and managing them carefully is essential for business survival. Too much debt can strain a business, especially if it can’t generate enough revenue to cover the costs. However, some debt is often necessary to grow a business, like taking out loans to invest in new equipment or expand operations. Equity: What’s Left for the Owners Equity is the value left over after subtracting liabilities from assets. In simple terms, it’s what belongs to the business owners (or shareholders, in the case of larger companies). Equity reflects the net worth of your business at any given time. Types of Equity For DDL, total equity in 2023 was G$53.35 billion, up from G$50.93 billion in 2022. Key components include: Issued Capital: G$770 million. This is the money that shareholders have invested in the business. It doesn’t change unless new shares are issued. Retained Earnings: G$44.10 billion, up from G$41.30 billion in 2022. Retained earnings represent profits that the company has decided to reinvest in the business rather than paying them out as dividends to shareholders. The growth in retained earnings shows DDL is keeping more profit within the company to fund future growth. Why Equity Matters Equity is a critical indicator of your business’s financial health. As your business grows, your equity should increase, showing that you’re building value. Investors and lenders pay close attention to equity because it reflects how much of the company is truly owned by its shareholders, as opposed to being financed by debt. How the Balance Sheet Works The Balance Sheet works by ensuring that the total value of what a company owns (assets) always equals the total amount of what it owes (liabilities) and what’s left for owners (equity). This balance is a crucial financial check—if the Balance Sheet doesn’t balance, there’s likely an error in the accounting. In DDL’s case, their Balance Sheet shows a healthy business. Their total assets in 2023 were G$67.05 billion, up from G$60.81 billion in 2022. This growth in assets, coupled with a rise in equity, demonstrates a financially strong company that is expanding its operations while managing its liabilities. Why Entrepreneurs Should Care As a business owner, understanding your Balance Sheet helps you make informed decisions about managing cash, paying off debts, and reinvesting profits. It shows you whether your business is growing or shrinking, whether you’re carrying too much debt, and how much value you’re creating for yourself or your shareholders. The Balance Sheet can also help you prepare for future financial needs, like applying for loans, attracting investors, or selling your business. Banks and investors often look at a business’s Balance Sheet to determine whether it’s financially stable enough to invest in or lend money to. Wrapping Up Understanding your Balance Sheet is crucial for managing and growing your business. It gives you a clear view of what your business owns, what it owes, and what’s left for the owners. With this information, you can make smarter decisions that will help your business thrive. In the next column, we’ll dive into more aspects of a company’s financial statements to make strategic business decisions. Until then, keep learning and keep making sense of every dollar. Related Similar Articles

Guyana’s Dr. Rita Persaud cops prestigious “Women Changemaker of the Year Award” Sep 08, 2024 News Kaieteur News – Dr. Rita Persaud, a Canada-based Guyanese University Professor, has been awarded the prestigious “Women Changemaker of the Year Award” by the Girl Child Education (GISR) Foundation of India. Canada-based Guyanese University Professor, Dr. Rita Persaud This recognition, which highlights exceptional women in various fields, was presented during the Fifth International Inspirational Women Awards (IIWA) 2024, held on July 27 in Delhi, India. The GISR Foundation is a non-government, not-for-profit organization registered under the Central Government’s Ministry of Corporate Affairs in India. The organization plays a proactive role in India’s development process by providing education to underprivileged Girl Children. GISR helps students find their passion, their aim and help them to have a better future. The organization notes that in a country where girls are worshipped as goddesses, for some reasons they are deprived of their basic rights such as an education. As such, the GISR Foundation, is dedicated to supporting girls’ education, selects only a few individuals each year to receive this distinguished award. The honour is part of an international initiative aimed at acknowledging individuals with outstanding achievements, exceptional performance, and extraordinary talent across various roles, including researchers, academicians, mentors, advisors, trainers, and thought leaders. In a congratulatory letter, the foundation praised Dr. Persaud for her remarkable contributions and unwavering commitment to excellence. “Your remarkable achievements have earned you this coveted recognition, and we are truly proud of you,” the letter stated. Dr. Persaud is a Professor, employed at Wilfrid Laurier University (WLU), Waterloo, and George Brown College (GBC), Toronto where she teaches human resources and business. Born in Guyana, South America, Dr. Persaud migrated in the 1980s to Canada, lived most of her life in Canada and has been continuing her education ever since. In Guyana, Dr. Persaud has become known for her philanthropic efforts and for generously donating millions of dollars worth of education material to the Ministry of Education, and the University of Guyana. Related Similar Articles

‘Kenthings’ for uniquely crafted jewellery Sep 08, 2024 News “These ideas [from entrepreneurs] propose new ways of catering to customers’ needs, and in several cases, these ideas are well received, and small businesses experience exponential growth…” By Allyiah Allicock Kaieteur News – As we at this publication continue to uncover the multifaceted talent of our young men and women from various communities of our country, today we shed light on yet another individual who expressed her creative skills through jewellery making. Owner of ‘Kenthings’, Kenita Roberts. This young entrepreneur is 24-year-old Kenita Roberts, the proud owner of ‘Kenthings’, a popular jewellery business. Before we get into the business side of Roberts, you should know this young woman is not only an entrepreneur but she is also an Environmental Consultant with EES INC., she holds a BSC in Environmental Sciences from the University of Guyana and is currently pursuing her Master’s in Project Management through the GOAL scholarship programme. Roberts also completed Jewellery Making 1 and Wedding and Décor 1 courses at the University of the West Indies Open Campus in 2021. In a recent interview with The Waterfalls, Roberts said Kenthings is co-owned by Simone Roberts, her mother, who is also a creative person. Her mother specializes in paintings, wood burning, floral arrangements, and has a general creative perspective. According to Roberts, Kenthings officially started in March 2017 while she was in 6th Form at Queen’s College. She noted however, that mid-2016, she made cloth chokers and loc jewellery with copper wire and rings. “I posted it on Facebook and received a few sales. From there, I decided to continue making pieces and selling them,” she recalled. Questioned what inspired her to start this venture, Roberts said she has always been a creative person and loved arts and crafts. “I did Art for CXC, which required much dedication. My business was inspired by my desire to be innovative and creative; it just happened that I expressed this creativity through jewellery, and people liked it and supported me throughout the years,” she explained. For those who have never heard about Kenthings, the business is a handmade jewellery business mainly using wire and beaded products. It provides jewellery such as earrings, bracelets, arm cuffs, waist beads, nose cuffs, anklets, rings, and necklaces, just to name a few. “I started with loc jewellery and rings and progressed as the years passed,” she added. Not limiting herself to only jewellery making, the young woman said she is open to other creative projects, such as floral arrangements, flower crowns, and other customizations. Having been operating for quite a while now, Roberts revealed that it was always easy, as there have been some challenges faced over the years. Elaborating further, she explained that one of the challenges was the availability of attractive beads and consistent jewellery supplies in Guyana that deteriorated over the years. “Therefore, jewellery supplies would need to be procured internationally, increasing the product’s waiting time and cost,’ she shared. Another challenge she disclosed has to do with time. “This is a personal challenge that I am working on. If I could, I would put all of my time into making jewellery because I enjoy it. My favourite product to make is the Kenthings signature earrings,” she pointed out. Notwithstanding these challenges, Roberts related that she understands that there would be good and bad times when operating a business but it would not stop her from taking her business to higher heights. She stated that while there have been challenges, there have been tremendous support for her craft. “My support base has been good. People always reach out to me and look for me at events I advertise to be present at. It is always a heartwarming experience to know that friends and total strangers are rooting for you and looking out for you,” she expressed. When asked what she hopes to achieve for Kenthings moving forward, she noted that she sees the growth of her business as a slow and steady process. “I am not giving up on it. I’d love to have my pieces on shelves for people to pick up at any time and offer a luxurious aspect to Kenthings, to name a few,” she revealed. She also is hoping to open up a store front, to showcase her products. As Roberts continue to contribute to society in a meaningful way through her business, she is of the view that young entrepreneurs in Guyana bring innovative and new ideas to the Guyanese market. “These ideas propose new ways of catering to customers’ needs, and in several cases, these ideas are well received, and small businesses experience exponential growth. New ideas are not easy to bring into a new market, but with consistency and the right audience, things can change for the better,” she explained. Some of the creative pieces produced by Kenthings. When asked what she thinks can be done locally to boost small businesses, she explained exposure through events, newspapers, features, grants and public recognition can help a good way. “However, what I believe goes a long way is the friends and families of small business owners publicly supporting their businesses through social media shares, likes, comments, and word of mouth. This costs zero dollars and helps a small business reach the right audience. I appreciate everyone who has done this for me,” she related. In addition to Kenthings, Roberts also co-owns ‘Infuzed’, a cocktail business, and ‘Ignium’, an event decorating business. For persons interested in connecting with Kenthings, they can be contacted on Instagram as kenthings592, Facebook as Kenthings, WhatsApp at (592) 662-6341, and TikTok as Ms. Kenthings. Their pick-up location is currently in Alberttown. Related Similar Articles

Internationally acclaimed Guyanese Educator Dr. Julie Jailall is a Special Person Sep 08, 2024 News Cementing her legacy as a valued professional… Kaieteur News – History was created on July 9, 2024 when author, University instructor, and an internationally recognized Guyanese educator Dr. Julie Jailall was bestowed by the Governor of the State of North Carolina, USA with that state’s highest honour – “The Order of the Long Leaf Pine” – for excellence in education leadership and service. Internationally acclaimed Guyanese Educator Dr. Julie Jailall The prestigious Order of the Long Leaf Pine award established in 1963 has been reserved by North Carolina governors to honor individuals who have made significant contributions to the state and their communities through exemplary service and exceptional accomplishments. The Order of the Long Leaf Pine Society of which Dr. Jailall is now a member, stands as the state’s highest honorary society, promoting the ideals of civic leadership, service, and accomplishment. The award was a just a suitable addition to list of honours that Dr Jailall has amassed over the course of three decades of her illustrious career.    It is believed Dr. Jailall, who is the current Director of the Cyril Potter College of Education might be the only Guyanese to have received this feat. She has been lauded for her stellar contribution in the education sector in North Carolina (NC) as well as her home country, Guyana. Dr. Jailall’s journey in education spans decades from her beginnings as an educator in Guyana to earning her Doctorate in Education from the North Carolina State University. Her impressive resume is replete with professional experience and credentials inclusive of six degrees.  After contributing significantly to Guyana’s education system, Dr Jailall migrated to the US, where she spent over 30 years investing her time and efforts in academic field. Dr. Julie Jailall receiving Order of the Longleaf Pine from Secretary (Minister) of the Department of Adult Correction, on behalf of the Governor of North Carolina According to Education Digest, a North Carolina Dr. Jailall is lauded for her tenure across the State of North Carolina. She held various pivotal roles, including teacher, Assistant Principal, Principal, and Executive Director for public and charters schools across the state. Her leadership and vision as the Superintendent of Prison Education Services were instrumental in creating new positions within the North Carolina Department of Adult Correction (NCDAC) advocating tirelessly for offender education across 54 correctional institutions. The NC publication noted that the award bestowed on the valued educator stated: “Dr. Julie Jailall, recently retired as the Education Superintendent for the North Carolina Department of Adult Correction (NCDAC), has returned to her homeland of Guyana after an illustrious career in North Carolina…” “As Dr.Jailall transitions back to Guyana, her legacy of educational leadership and commitment to enhancing the lives of others through education will continue to inspire generations. Her impact on North Carolina’s educational landscape and her advocacy for offender education leaves a lasting imprint on the state’s educational and correctional systems.” In her current capacity as Director of CPCE, Dr. Jailall manages at least 20 satellite college centres across Guyana.  She told The Waterfalls that it is honour to return to serve her country in this capacity. ‘BETTER THAN GOLD” Dr. Jailall hails originally from Hague Backdam West Coast Demerara (WCD), and then her family moved to Unity Village in the Hubu Parika, East Bank Essequibo (EBE). As a result, she attended Hague Backdam Nursery School and Blake Primary (EBE) and because there was no high school in her village, she was the only student continuing in the “primary top.” Dr. Jailall is pictured with her husband and their three sons This era of her life is reflected in her book, “Sharda: A World Caribbean-Guyana literature series.” Dr. Jailall recalled “my family farmed rice and cash crops and on Saturdays, my mother would sell our produce at the Leonora Market.” She noted that her father on the other hand loved to teach. He spent a lot of his time to teaching children from their village Hindi and English.  She said “he would often tell us ‘education is greater than gold.’ This resonated with me as a child.” Ironically, Dr. Jailall recalled that her father did not see the need for his “girl child” to achieve the highest level of education.” She said “I really had to beg them to continue to go to school because we were a staunch Hindu family and culturally, this is just not something that was a norm.” As a result, after passing the Preliminary Examination and CP (College of Preceptors examinations) at age 13, Dr. Jailall earned a place to Zeeburg High School but her mom did not want to send “a girl child to high school.” Dr. Jailall, however, was determined to go on to high school.  She later enrolled in a private school called Uitvlugt College, which, unfortunately, closed after a year. Dr. Jailall, then, persisted through many hunger strikes until her mother relented and later sent her to Tutorial High for one and a half years where she passed enough GCEs (London University General Certificate of Education Exams) qualifying her for enrollment at the University of Guyana.  It took a lot more persuasion than mere “hunger strikes” to convince her mother to finally send her to UG. Dr. Jailall became the first and the only child of her 10 siblings to earn a college degree, or more accurately, five accredited college degrees. Dr. Jailall credits her teacher – the late Henry Rahaman as the person who influenced her the most and was her inspiration towards excellence. Mr. Rahaman, who later became Principal of St. Roses High, recognized Dr. Jailall’s potentials as a gifted child and he introduced her to her first book, Kidnapped by RL Stevenson borrowed from the Salem Public Library located in the Parika area on the East Bank of Essequibo. Dr. Jailall, the voracious reader that she was, ended up reading every book in her school’s library. TEACHING EXPERIENCE Before she was recommended by the NCDAC for the highest award Dr. Jailall worked at all levels of education from kindergarten to university levels. She worked in various schools in Guyana in the 1970s – Blake Primary School, St. Lawrence Primary School, Parika-Salem Primary, and Greenwich Park Primary East Bank Essequibo. Dr. Jailall was featured in a news article about educators who change lives She also worked at Cummings Lodge Secondary School as an English teacher. She moved to Grand Bahamas, Bahamas where she worked as an English teacher at the Hawksbill High School, Bahamas. In her early 30’s, Dr. Jailall migrated to North Carolina, USA where she worked at all levels of education in four different counties as an English Teacher, and a Special Education teacher working with students with learning disabilities and students who were described as behaviorally and emotionally handicapped. Dr. Jailall was a teacher with passion and deep empathy. Although she was licensed to teach regular education, she instead took the challenge to teach special education at a time when her school district couldn’t find candidates for special needs students. Her approach was “to teach students with special needs as though they were gifted!” She helped each student to find their gift and then she celebrated them as “blossoms of the school!” Due to her service to students with special needs, she won several grants, especially to serve disadvantaged students. It was no surprise when Dr. Jailall received the flagship, prestigious “Flame for Learning” Award from Johnston County Schools, North Carolina (NC), for her dedication and passion as an educator for the neediest of students. The cover of Dr. Jailall’s book “Sharda”: A World Caribbean-Guyana literature series.” Dr. Jailall also worked in NC as a school principal for several elementary schools, middle schools, and high schools. Dr. Jailall’s experience included that of Executive Director of two large Charter Schools, and Assistant Director of a “Montessori” School. She also served as a College Instructor at the Brunswick County Community College in Washington, NC, USA, and at the Berbice Campus of the University of Guyana. Additionally, she served as the Education Consultant as the Learning Disabilities specialist at the North Carolina Department of Public Instruction. Dr. Julie Jailall and her husband Dr. Jerry Jailall then moved to Abu Dhabi (near Dubai) in the United Arab Emirates where she taught at an all-girls public School in Al Mafraq, and she also taught in the Masters in Education programme at the Abu Dhabi University. In addition to her wealth of work experience, Dr. Jailall has completed five fully accredited face-to-face degrees – a Bachelor of Arts degree in English and Visual Art and a postgraduate Diploma in Education from the University of Guyana; a Master of Arts degree in Education Leadership and Curriculum Studies and a post-graduate Certificate of Advanced Studies in creative writing and English as Second Language from the East Carolina University; and a Doctor of Education Degree in Education Leadership and Policy Studies from the North Carolina State University. Dr.  Jailall recalled as she moved from various leadership positions in NC, she saw the vacancy for superintendent at NCDAC and decided to take on the challenge of ensuring that inmates were educated. “…I was supervising the education in 54 prisons and I did this for four years. It was a very expansive job to be honest; I had to overlook the programmes for 15000 inmates in school” TRANSFORMATIONAL LEADERSHIP   Dr. Jailall was bestowed by the Governor of the State of North Carolina, USA with that state’s highest honour – “The Order of the Long Leaf Pine” – for excellence in education leadership and service In 2009, Dr. Jailall published her first book, “Sharda”, and then later co-authored a bestselling book used in school districts and colleges around the world, “The Principal as Curriculum Leader: Shaping what is Taught and Tested” published by the international Corwin Press. Dr. Jailall has been awarded as a school transformation and reform expert for successfully turning around low-performing schools into high performing schools. Her service as a transformational school leader for decades included being a driving force for change and transformation for two elementary schools. During her leadership, both of these schools made tremendous jumps in exemplary student achievement in a short time. Cooper Elementary School was the most featured school in the local newspaper. Transformational leadership is her trademark and that was why she was recruited as a Superintendent of Schools for the North Carolina Prison System in the North Carolina Department of Adult Correction where she had education programmes in 54 state prisons for adults and four special schools for inmates under 18 years old. She partnered with seven universities and 41 community colleges to strengthen education programmes in the prison schools. Under her leadership, each inmate was provided a digital tablet to access education services. Inmates complete special programs, micro credentials and certifications, and can obtain associate and Bachelor’s degrees while in prison. Dr. Jailall is pictured with her husband and grandchildren In their nomination of Dr. Jailall for the “Order of the Long Leaf Pine,” the North Carolina Department of Adult Correction wrote, “It is with great delight that we nominate Dr. Julie Jailall, former Superintendent of Education, North Carolina Department of Adult Correction for The Order of The Long Leaf Pine Award for her exceptional accomplishments and exemplary service to the State of North Carolina…” “She was a deeply committed, hard-working, enthusiastic and transformative leader who made significant and positive changes within the agency for the rehabilitation of offenders through education. Dr. Jailall’s legacy as a change agent within the agency and her long history of exemplary service in education in several counties – Brunswick, Beaufort, Johnston, Alamance-Burlington, and Wake – makes her a deserving candidate for the Order of the Long Leaf Pine award.” NCDAC said. Dr. Jailall has three sons and two grandchildren. Her hobbies include gardening, traveling, visual art and badminton. For all these accomplishments and the historic award of the Order of the Long Leaf Pine, Dr. Julie Jailall is truly a “Special Person.” Related Similar Articles

Worksite Guyana/5veFinga Architects partner to construct Guyana’s Future Sep 08, 2024 News New building era in Guyana… Kaieteur News – Ever since discovering ‘Black Gold,’ Guyana has attracted entrepreneurs and investors at an amazingly rapid pace. ‘Worksite Guyana’ (WSG), a local company is among those entities that demonstrated a high level of trust and confidence in the economy, endorsing this by way of a large investment in the providence of efficient and effective customer services. Narifa Singh ‘Worksite Guyana’ has now taken another bold step and has partnered with ‘5veFinga Architects’, in continuance of its mission and objectives to provide the same level of qualitative services to its valued customers in Guyana. The administrators of WSG/5veFinga Architects are confident that Guyana is fertile for the realization of their lofty objectives and services and their partnership is indeed a groundbreaking union that is geared to redefine the landscape of construction services in the Cooperative Republic. Narifa Singh, a key force in the initiative told The Waterfalls that “This is a collaborative effort that represents a bold step forward, uniting two of Guyana’s most promising businesses in a shared vision of innovation, excellence, and growth,” Ms. Singh assured. She stated that her firm is renowned for its excellence in architectural design. According to her, “5veFinga Architects are reliable, experienced, and affordable.” “We have some of the best practitioners in Guyana and are known for our innovative house plans, modern homes, and diverse project portfolio,” she said. Singh further assured prospective clients that irrespective of whether the erections are for residential, commercial, or industrial purposes, 5veFinga Architects is geared to provide unparalleled expertise in designing comprehensive plans tailored to its clients’ unique needs and aspirations. “Confidentiality and efficiency are the watchwords and the driving forces behind this initiative and we are working assiduously to deliver top quality finishes,” asserted Singh. She also assured that through the alignment of their resources, networks, and expertise, Worksite Guyana/5veFinga Architects is poised to enhance the construction experience for their valued customers while ensuring that each project is executed to the highest standard. “Homeowners and developers can now look forward to comprehensive solutions, from the initial design phase with 5veFinga Architects,” she said. The young entrepreneur further reveals that Worksite Guyana is known for its construction competence, bolstered by reliable professionals throughout the construction phase. According to her, the collaboration between Worksite Guyana/5veFinga Architects marks a significant milestone in the evolution of Guyana’s construction sector. Both companies have already demonstrated a commitment to innovation and quality and boast of their ability to make a profound impact on the local market. Further, they aim to foster a new era of trust, efficiency, and creativity, commendable variables that are glaringly missing in local construction services. “Homeowners, developers, and business entities are urged to support their efforts, not necessarily based on sentiments, but because they are benefiting from the synergy of two of the most forward-thinking companies in the industry,” said Singh. She noted that “Guyanese can now relax as these two market leaders combine their strengths, not just building structures but also building a stronger, more resilient construction industry for Guyana. “Here is where vision meets execution, and trust meets innovation!”     Related Similar Articles

PROMOTING STANDARDS FOR THE SUSTAINABLE PRODUCTION OF QUALITY INDIGENOUS PRODUCTS – HERITAGE MONTH Sep 08, 2024 News GNBS IN FOCUS Kaieteur News – As our nation observes Amerindian Heritage Month, the Guyana National Bureau of Standards (GNBS) is placing the spotlight on Standards available for Indigenous products which are produced to help sustain the local economies of many Indigenous communities. This year’s theme, “Many Voices, One Song. Celebrating Amerindian Heritage 2024”, resonates with GNBS’ commitment to ensuring that Indigenous traditions are preserved while they utilize standards to guide their production of food, art and craft products for sustainability. In outlining the requirements, the available standards by far encapsulate the traditional knowledge, practices and craftsmanship of our Indigenous people and offer a benchmark for Indigenous products to meet national, regional and internationally accepted quality. Importantly, standards related to Indigenous food products help safeguard traditional recipes and methods of preparation, while also ensuring food safety and nutritional value. Standards for Indigenous products include the Specification for Cassava Bread, Specification for Indigenous Furniture (bamboo, rattan, wicker and nibbi), and the Code of Practice for Manufacture of Wooden Craft Items. The following provides an overview of these standards: The Specification for Cassava Bread (GYS 246:2010) specifies requirements for cassava bread and related products, intended for human consumption, obtained from the processing of bitter cassava. The standard offers guidance to makers of the product on quality requirements, contaminants, sampling, packaging, labelling, hygiene and production. The Specification for Indigenous furniture (GYS 509:2013) is a CARICOM Standard, which was adopted by the GNBS. The standard was developed to benefit manufacturers by the harmonization of requirements for the manufacture of various types of furniture, suitable for both domestic and commercial use. It covers material requirements, which are selected for bamboo, rattan, wicker, tibisiri and nibbi furniture and these shall be characterized by lightness, flexibility, durability and smoothness with no hair-like strands hanging from them. Based on the standard, Indigenous furniture shall be constructed with good workmanship components which shall be of quality and uniformity; and the furniture shall remain stable in an upright position when empty. Lastly, the Code of practice for manufacture of Wooden Craft items (GCP 31:2010) is also a CARICOM Standard, which establishes the minimum requirements for the manufacture and production of wooden craft items. The standard is focused on performance rather than prescriptive requirements and may be applied to all wooden craft items in the manufacturing stage or at the point of sale to retailers and end consumers. The standard stipulates requirements for materials used in manufacture including wood, adhesives, finishes or finishing material, and hardware. It also includes health, safety, storage, environmental, packaging, and labelling requirements. As a nation, we must be appreciative of the contributions made by our Indigenous people to our cultural and economic fabric, from traditional crafts and artisanal products to sustainable agricultural practices. Standards are useful tools for guiding the production and advancement of Indigenous products, ensuring they meet quality requirements while maintaining authenticity. As we celebrate Amerindian Heritage Month 2024, the GNBS takes this opportunity to recognize three local manufacturers; Sand flower Products, Marcia’s Products and Luke’s Manufacturing whose locally made cassava bread and cassava cassareep are GNBS Made in Guyana Certified. The GNBS invites all stakeholders to join this mission to ensure the contributions of our Indigenous people are celebrated and their products recognized. The Bureau will continue to do so through the development and promotion of standards. For further information, please contact our GNBS Standardisation Department on 219-0064-66 or visit our standards portal: gnbsguy.com Related Similar Articles

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