Indigenous communities are being encouraged to embrace financial literacy and formal financial services as a key step towards building stronger village economies and expanding business opportunities.
Addressing the 2026 National Toshaos Council Conference at the ACCC on Friday, Senior Minister in the Office of the President with responsibility for Finance Dr Ashni Singh pleaded with toshaos to encourage their villagers to be part of the formal banking services.
He said investments in village development, including LCDS-funded projects, skills training, agriculture and tourism initiatives, must be matched with greater access to banking services and financing.
The government’s focus on financial inclusion is to ensure every Guyanese, regardless of where they live, can access modern financial services, conduct transactions and obtain financing for business ideas.
Dr Singh highlighted measures including improved connectivity, simplified bank account opening procedures, digital banking solutions and the planned Guyana Development Bank, which will provide small loans of up to $3 million without collateral or interest.
He urged toshaos to encourage residents to join the formal banking system, noting that having a banking relationship can help villagers build financial histories, access loans and grow enterprises.
“Those small loans are not the end of the journey. They are the beginning of your economic journey,” Dr Singh said.
He also encouraged entrepreneurs to use digital platforms and tools such as social media and mobile payment services to market and expand their businesses.