African Import-Export Bank may finance Guyanese oil exploration company

Last Updated on Monday, 30 October 2023, 17:14 by Denis Chabrol

The Guyanese oil exploration company, SISPRO Inc; is likely to source some of its financing from the African Export–Import Bank (AFREXIMBANK) through the local merchant bank, NewHayven, President Irfaan Ali announced on Monday.

NewHayven , which is headed by United States-based Guyanese Floyd Haynes, was launched in July 2022.

Addressing the opening of the 3rd African-Caribbean Trade and Investment Forum (ACTIF) being held in Guyana from October 30 to 31, 2023, Dr Ali said, Mr Haynes’ “bank is also working with the EXIMBANK, I’m advised, in support of one of the first local groups- all women- who won one of the oil blocks here in Guyana.”

SISPRO INC (Guyana) is chaired by Dr. Melissa Varswyk. Other team members are Secretary and Executive Director, Abbigale Loncke- Watson; Executive Director, Ayodele Dalgety-Dean, and Executive Director, Dee George. That company has successfully bid for one shallow water block and one deepwater block.

Turning his attention to Mr Haynes, the President remarked that, “I must acknowledge the work of Floyd.”

Meanwhile, he announced that well-known businessman, Hamley Case, has been appointed Ambassador to interface directly with African nations. Mr Case and the previous People’s Progressive Party Civic administration had been at odds for several years. Mr Haynes has over the years enjoyed good relations with both the opposition and the People’s Progressive Party Civic .