New Hayven Merchant Bank, a prominent Guyanese-owned financial institution, is set to inject vital capital into the local economy through a US$15 million funding initiative from the African Import-Export (Afriexim) Bank.
During a recent interview on Kaieteur Radio’s Guyana’s Oil & You Programme, Chairman of NewHayven Merchant Bank, Floyd Haynes highlighted the significance of the US$15M initiative and elucidated the tangible benefits for local businesses.
Haynes acknowledged Vice President, Dr. Bharrat Jagdeo for facilitating connection with the African bank as well as with several other influential individuals during a trip to Ghana last year.
“I was invited to Ghana at the AfriExim conference that was held there (last year) and we subsequently signed a Memorandum of Understanding (MoU) between AfriExim Bank and NewHayven,” said Haynes.
Prior to the recent conference held by the bank in Guyana, both teams initiated the establishment of a warehouse facility/ a line of credit. Haynes explained, “They (AfriExim) provide a line of credit, and we, in turn, lend to the local business community, infusing additional capital into the economy to assist more local businesses. We are currently in the process of implementing this facility.”
Launched in 2022, New Hayven aims to create value for clients through innovative investment services. New Hayven’s comprehensive range of services includes asset management, investment banking, wealth management, financing solutions, and real estate development.
