-shifting focus to wealth creation
-by NaAsia Bristol
As Guyana’s economy shifts into high gear, the Institute of Private Enterprise Development is adjusting its strategy to keep pace.
With a move away from unemployment concerns to labour shortages, the organization is now focusing on helping businesses move beyond survival to building long-term wealth.
Chief Executive Officer Jagdesh Haripershad says the country has moved from concerns about unemployment to facing labour shortages, signaling a major shift in the economic landscape. In response, he says IPED is adapting its approach to remain relevant and impactful.
“Now, fast forward to 2026, this is a new Guyana. This is a new environment. There is no such thing as unemployment or underemployment anymore. There are shortages of employment. So, IPED’s role has to evolve and will evolve to reflect or to be in alignment with this new economy of Guyana,” he said.
Last year, IPED supported approximately 5,000 businesses, disbursing $5.7 billion in loans.
This year, the organisation is aiming to increase that figure with a higher target of $7 billion, reflecting the growing needs of businesses in an expanding economy. With more money circulating in the system, IPED is now shifting its focus beyond helping businesses survive, toward helping them build wealth and long-term success.
“We want to play a role now to move people from sustainability to wealth creation. How do you use this money now to create wealth and create wealth, generational wealth? So, that is the role IPED will play in terms of still advising people and supporting people with their businesses, because with the new economy comes new challenges,” Haripershad said.
IPED is also looking to expand its services by increasing credit limits, improving efficiency, and offering more competitive interest rates to better support growing businesses.