Grace Kennedy looking to expand services in Guyana − as company celebrates 20th anniversary

Grace Kennedy Remittances Services (GKRS), under the Western Union brand, celebrated its 20th anniversary of doing business in Guyana on Saturday with a gala dinner at the Pegasus Hotel.
Group Chief Executive Officer (CEO) Don Wehby told Guyana Times International that Grace Kennedy has served Guyana for 20 years in the remittance services business and the Guyanese people in response have shown tremendous support. He recalled that the GKRS’s vision was and still is to provide excellent money services to the Guyanese populace, noting that remittance services in Guyana are a vital part of the country’s economy.

Wehby noted: “Our mission is to increase our contribution to shareholders over the long-term by satisfying the customers’ money services needs,” he said, adding “over time, we have fostered immense relationship with the Guyanese society and we are looking forward for further growth in relationship and future investments within the area.”
He also noted that the GKRS is seeking to expand in the financial banking services, but this is dependent on approval by the regulatory body – the Bank of Guyana.
“It’s difficult to give a timeframe because of the regulatory issues, but if we get approval, I would say within the first 12 months of having gotten approval, we’ll be ready to go,” Wehby said. According to him, preliminary discussions are ongoing with Bank of Guyana Governor Lawrence Williams about the requirements for opening a branch of First Global Bank. He said First Global is looking at offering small business loans in United States dollars at competitive rates.
He said the group’s divisional director for financial services; Courtney Campbell has been conducting the necessary research on Guyana, Trinidad and Tobago, and Barbados, where the company has offered banking and insurance services.
Wehby also disclosed that Grace Kennedy is looking at offering mobile money services. However, he said this would require a custodian bank in keeping with international best practices. He spoke about the falling price for gold, noting that he was optimistic about the performance of the Guyana economy. Government has projected growth rate in the vicinity of 5.3 per cent this year.
The Grace Kennedy Group of Companies also awarded local businesses for their service and loyalty and honoured its long-serving employees for the effort, time, service and energy they invested in the company to provide efficient services to the Guyanese people.
The GKRS Guyana Limited was registered in 1992 to serve as an exclusive agent of Western Union Financial Services – one of the most trusted money transfer companies in the world. The company further expanded its services with a one-stop bill payment service – Bill Express. Currently, the money services of GKRS extend from Corriverton to New Amsterdam, Rosignol to Linden and from the Essequibo Coast to Lethem, with more than 60 locations countrywide.