Black Entrepreneurs Association-Atlanta Black Chambers accord a boost for Black-owned businesses – US envoy

Last Updated on Saturday, 2 November 2024, 9:15 by Writer

A memorandum of understanding (MoU) between Guyana’s Black Entrepreneurs Association (BEA) and the United States’ Atlanta Black Chambers (ABC) is expected to be the backbone of stimulating Black-owned businesses in noth countries, according to United States Ambassador to Guyana, Nicole Theriot.

She said the MoU between the BEA and the Global Opportunities Committee of Atlanta Black Chambers marked the beginning of a powerful partnership, bringing together the energy, talent, and vision of black entrepreneurs from both the US and Guyana to create new opportunities and strengthen both communities.

“Through collaboration, shared resources, mentorship programs, and access to regional and global markets, we will create new avenues for black-owned businesses to thrive, both in Guyana and in iconic U.S. cities like the fabulous Atlanta,” she said.

The American envoy said that partnership represents more than just business. “It represents our shared commitment to uplifting Black excellence and investing in a future where opportunity is not limited by geography or circumstance,” she added.

Secretary of the BEA Board, Lance Hinds said due to significant growth of Guyana’s gross domestic product (GDP) from US$4 billion in 2021 to US$34 billion by the end of 2024, a decision was taken to establish a mechanism to carve out space for Blacks in the economy. “By the time we got to 2020, as a grouping of Black entrepreneurs or Black businesspersons, it was time to make a decision about how we are going to participate and stop expecting others to represent us in this effort and begin to represent ourselves and that primarily was the genesis of the Black Entrepreneurs Association,” he said.

Acknowledging that some of the projects were “extremely big”, Mr Hinds said the BEA opted t0 reach out to the Diaspora and “our American brothers and sisters” to work together. “We have the talent, we have always had the talent. The question is how we harmonise and how we harmonise for our benefit,” he added.

BEA Chairman and Founding Member, Rowen Willabus says his organisation is laying the groundwork for a real estate investment and hopes to work closely with the ABC in developing businesses in both countries.

“Together, as an organisation, we have been pursuing investment opportunities, be it real estate. I’m not sure if I should say it, but a sizeable real estate deal that we’re doing now so we will like for our cousins (ABC) to ensure that we participate again in terms of a mutually beneficial relationship,” he said at the recent signing of an MoU between the BEA and ABC.

The Americas and Guyana Regional Lead for the ABC, Stacey Mollison said her organisation’s Global Opportunities Committee said the MoU is the framework for the BEA and ABC to work on business deals. “What this MoU for us will do is really create a stronger engagement process for how we collaborate and look at opportunities that we can pursue together,” she said. Among the plans are consistent business trade mission trips to and from Atlanta, the number one city for doing business.