President Granger addressed the Inaugural General Members Meeting of the IDPADA-G Credit Union on June 2nd, 2020. The Meeting, held online to adhere to social distancing guidelines, engaged over 450 credit union members and special guests. The excerpts below are taken from President Granger’s remarks. The full speech can be found at www.idpada-g.gy and on IDPADA-G’s Facebook pages.
“. . . The ‘International Decade’ acknowledges that Africans were the victims of the greatest crime against humanity and continue to suffer from dispossession, discrimination and intergenerational poverty. The ‘International Decade’ recognises that people of African descent have not yet fully overcome the legacy of colonial underdevelopment, which continues to contribute to their present condition.
The Programme of Activities, proposed by the United Nations, rests on 3 pillars – Recognition, Justice and Development. The ‘Programme’ recognizes that poverty is both a cause and consequence of discrimination. It urged that states should take appropriate steps to: “… strengthen national programmes for eradicating poverty and reducing social exclusion that take account of the specific needs and experiences of people of African descent…”
I proposed a five-point Plan of Action for the International Decade, in my address to the Cuffy 250 Forum in August 2016. I urged that the ‘Plan’ include efforts aimed at African economic empowerment.
The registration of a Co-operative Credit Union, by the International Decade of People of African Descent Assembly – Guyana, is a step in the direction of economic empowerment and eradicating poverty. It is in accordance with the objectives declared in the Programme of Activities of the ‘International Decade’ and the five-point ‘Plan’ which I had proposed in 2016.
Co-operative Credit Banks existed in British Guiana over a century ago. These institutions first emerged in response to African subsistence farmers’ need for loans.
The ‘old model’ Co-operative Credit Banks catered primarily for small loans for small-scale agricultural production and for meeting basic household and emergency needs. The ‘old model’ did serve the purpose for which it was intended. A ‘new model’ is needed to become an engine of economic development. . . .
. . . Co-operative Credit Unions were the successors of the Co-operative Credit Banks. The Co-operative Credit Unions have declined, with only 30 such institutions existing as at October 2019. Credit unions today account for slightly more than 24,000 members with estimated assets of US$28.9M.
The ‘new model’ of Co-operative Credit Unions must become an engine of enterprise development. Co-operative Credit Unions should graduate beyond catering only for the elementary stage of development – the provision of personal and subsistence loans. The ‘new model’, I suggest, should cater for four stages of economic enterprise development:
- traditional or subsistence;
- commercial or retail;
- industrial or manufacturing; and
- internationally-competitive stage
Co-operative Credit Unions should aim at financing not only small-scale agriculture, agro-processing and craft ventures but also commercial enterprises – the second stage of development. The third stage of development – the industrial stage, would involve the provision of capital for industrial development. The fourth stage would result in a co-operative credit union providing support for the production of internationally- competitive commodities.
The ambition of a new model is to provide financial services from the level of the small farmer and household, right up to the level of industry. Financing is needed at the levels of micro, small and medium-scale enterprises, particularly in the agriculture and agro-processing sector.
Government has launched a number of initiatives aimed at stimulating these sectors. The G$50M agro-processing plant at Parika, Essequibo Islands-West Demerara Region, was established in March 2020. The investment allows for the processing of 130 kg of produce per hour, benefits some 100 small farmers and provides employment for 20 persons.
The Regional Agricultural and Commercial Exhibitions (RACE) has become a catalyst for economic diversification led by micro, small- and medium scale enterprises. The Rural Entrepreneurial Agricultural Project (REAP) aims to revitalize rural village economies.
The ‘new model’ which I propose, envisages Co-operative Credit Unions as financial institutions with increasing assets, reserves, savings and shareholdings. The model is one which would see shareholding and savings widened and with a more diversified lending portfolio. All of this would necessitate legislative and regulatory changes.
The ‘new model’ is necessary for economic empowerment. Its development should be a priority for the remaining years of the International Decade of People of African Descent.
I urge the International Decade of People of African Descent Assembly – Guyana to consider carefully the adoption of a new model of Co-operative Credit Unions that will not be marginalized within the overall financial sector, but which has the potential to compete eventually with the formal financial sector and to stimulate enterprise development at the subsistence, commercial, industrial and internationally competitive stages.
I commend the International Decade of People of African Descent Assembly – Guyana on the establishment of the Co-operative Credit Union. The Credit Union is one of the many projects which will be undertaken by the Assembly but it has special significance for local economic empowerment.
I congratulate the Union on its Inaugural General Meeting. I wish it every success, beyond 2024 and for decades to come.
During the January General Assembly Meeting, member organizations selected committee members for IDPADA-G’s revamped committee structure. Chairman – Mr. Vincent Alexander reminded members that the committees reflect the central pillars of IDPADA-G’s work and keep it focused on serving the interests of the African community in the areas of Education, Employment, Economics, Equality and Expiation.
Meetings were subsequently held to elect chairpersons of each committee. The newly elected Committee Chairs form the IDPADA-G Coordinating Council alongside the Chairman, CEO and co-opted members. Download to learn more about the Council members.
UNDER the ”Development” theme of the United Nations Interna tional Decade for People of African Descent, IDPADA-G is es tablishing a credit union to provide access to credit and financial services to individuals and small business owners throughout the country. To date over 500 persons have completed the application process to join the proposed IDP ADA-G Credit Union, and several others are in the process of finalizing their membership documents. Sign-up events have been conducted in Georgetown, Bagotsville, WED and at No. 53 Village, Corentyne. At the first sign-up event held at Critchlow Labour College on July 6th and 8th 2019, a total of one hundred and eighty-five persons applied for membership, many others gathered information and expressed interest in joining. On the West Bank Demerara, Pastors organized a sign-up event at the Rattray Congregational Church on Saturday 27th July. Over one hundred persons came ready with their required documents and joined the Credit Union. IDPADA-G also conducted successful sign-up in No. 53 Village for residents of villages from Fyrish to Corriverton with one hundred and seven persons signing up. Applications continue to be processed daily at the Secretariat. Sign up events will be held throughout October – Credit Union Month. We look forward to opening our doors in early 2020.
IDPADA-G was pleased to contribute to making the recent visit of Ghanaian President Akufo-Addo to Guyana 2019 memorable and valuable for our community. IDPADA-G sponsored nation-wide coverage of the visit from the President’s arrival to his departure. Chairman Vincent Al- exander was accorded the privilege of escorting President Akufo-Addo as he lay a wreath to honour Guyana’s national hero, Kofi, at the 1763 Monument in the Square of the Revolution. As they toured the monument, President Akufo- Addo remarked that, “a national hero of Guyana with the name Kofi, an Akan name, clearly demonstrates the strong links between Guyana and Ghana.” The visiting Ghanaian President also laid a wreath at the Non-Aligned Movement Monument where there is a bust of Ghana’s first Prime Minister and President and co-founder of the Non-Aligned Movement, Dr. Kwame Nkrumah. IDPADA-G executives, Chairman Mr. Vincent Alexander, CEO Ms. Olive Sampson and elected Coordinating Council members held a meeting with the Ghanaian President and invited the Ghana Day Organization and the Pan African Movement to participate. Topics discussed included the development of having closer ties between Guyana and Ghana through educational and cultural exchanges for African Guyanese students, academics, scientists, artists, musicians, dancers and business people.
IDPADA-G took advantage of this visit to inform educators and students about Ghana and the Akan contribution to our history by preparing education- al resources presented to the Ministry of Education. The IDPADA-G’s teaching materials were distributed to the teachers and students who welcomed the
President at the 1763 Monument with shouts of Akwaaba (Welcome)!
The International Decade for People of African Decent Assembly-Guyana (IDPA DA-G) has noted great accomplishments in reaching thousands of African Guyanese in ber organisations in January. Participants who complete this training will participate in a training programme on project design, proposal writing, project management and co-operative development in February, 2019. challenges they face and must surmount today.
IN 2019 THE IDPADA-G WILL: Host Economic Empowerment conferences as a fol low -up those business conferences conducted across the country in 2018. These conferences will focus on financial education, explore funding opportunities, aid with business plans and access to resources among other empowerment features. Offer leadership training for African Guyanese organizations, youth groups, villages and communities, · just months of commencing service under the United Nations resolution dedicating a decade to addressing challenges confronting people of African Descent worldwide. Arriving at 2019, the Decade’s half-way mark, ID PADA-G is planning to roll out a number of programs, outreaches and other activities that provide service to and directly address issues confronting the African Guyanese community,
SPECIAL PROJECTS [1ST QUARTER]: Following through on its commitment to the growth and development of African Guyanese organizations, ID PADA-G will continue its Organizational Development training program – with two training programs for men- ”Mega One Stop Business and Family Welfare Conferences” will be held across the country in January and February; the first two conferences will be held in South Georgetown and Pattensen, Turkeyen (Sophia) respectively. These conferences will offer econo1nic and other assistance to business owners and offer aid to families to relieve education expenses and address health care needs. In February, as we prepare to celebrate our nation’s Re public Day and to commemorate the Berbice Slave Revolt, IDPADA-G will host a major Heritage and Culture Conference. It will include a separate youth component to further acquaint 150 young people with their African roots. This engagement will offer young people an opportunity to learn more about their often hidden history and to understand the legacies of enslavement and colonial rule that lead to many Work with educators in rewriting the African narrative to paint a true and holistic picture of the African experience and contribution to Guyana. · Partner with various agencies to bring relevant vocational and academic training to target groups. · Sponsor drumming, poetry, art, sporting and other competitions and events to encourage creativity and development in various fields.