Major Healthcare Expansion: Six New Regional Hospitals Underway in Guyana

In a move to enhance healthcare accessibility, Guyana is on track to complete six new regional hospitals by early 2025, including the G$7 billion Lima Regional Hospital. This nationwide project, funded through the Ministry of Health’s G$15.5 billion budget for healthcare infrastructure, aims to decentralize healthcare, making specialized services like digital imaging and emergency care more accessible. This development reflects a commitment to improving healthcare infrastructure to meet the needs of Guyana’s growing population and rural communities.

Demerara Bank’s Loan Growth Powers Guyanese Economy, Achieves Zero Non-Performing Loans

Demerara Bank Limited (DBL) has set a record in Guyana’s banking sector with its loan portfolio skyrocketing to G$95.36 billion, marking a 34% increase in 2024. This expansion, representing 38% of all industry lending growth over the past year, supports pivotal sectors such as agriculture, real estate, and small-to-medium enterprises (SMEs), driving national economic growth. The bank reported zero non-performing loans for the third consecutive year, reinforcing its disciplined credit management. DBL’s net profits also rose by 37%, and deposits surged by 25% to G$174.56 billion. With its 30th anniversary on the horizon, DBL plans further technological innovations to meet evolving customer needs and maintain its stronghold in the banking sector.

Business Opportunities Based On Today’s Developments

Small Enterprises (SEs)

1. Mobile Power Solutions
   Small businesses can fill a pressing need by offering mobile power solutions, such as renting small generators or selling solar chargers. Power instability remains a challenge, so SEs can leverage affordable and portable power solutions, especially in rural areas. Focusing on sustainable and mobile energy sources would cater to the local demand for reliable electricity, appealing to environmentally-conscious consumers as well.

2. Local Event Catering and Diwali Decor
   With Diwali and other community festivals celebrated widely, small catering and decor businesses can offer ready-made sweets, festive decorations, and catering for Diwali events. Creating “Diwali Packages” that bundle these products or services provides a one-stop solution for customers. Marketing through social media and pop-up shops can help tap into Guyana’s festive spirit and growing appetite for authentic, locally-made products.

3. Health and Wellness Retail
   The healthcare sector’s growth brings an opportunity for SEs to supply items like medical scrubs, sanitizers, and cleaning products to local hospitals and clinics. Additionally, small health retail shops can cater to local consumers with wellness products such as supplements and organic foods. Collaborating with local producers for unique, healthy products could enhance the SE's brand while boosting Guyana’s wellness industry.

Medium Enterprises (MEs)

1. Telecom & Digital Connectivity Solutions
   ENet’s status as the fastest network signals the growth of digital infrastructure. MEs can provide telecom support services, including fiber-optic installation, network maintenance, and digital connectivity solutions in remote areas. Offering data management solutions tailored for healthcare facilities, which are on the rise, can be a strategic step into a growing sector, making digital healthcare access more reliable.

2. Healthcare Equipment Supply & Maintenance
   With six regional hospitals under construction, MEs have an opportunity to supply essential equipment like X-rays, diagnostic tools, and CT scanners. Securing service contracts for equipment maintenance can create long-term revenue streams. Partnering with international medical suppliers could allow MEs to offer high-quality, cost-effective solutions, particularly as healthcare infrastructure becomes a national priority.

3. Event Management for Seasonal Festivals
   Diwali’s importance presents a perfect opening for MEs to expand into large-scale event management. Offering full-service packages for community and corporate Diwali events, including decor, catering, and entertainment, could be a profitable seasonal venture. Creating eco-friendly and culturally authentic event experiences would meet demand while appealing to customers’ cultural pride and environmental awareness.

Large Enterprises (LEs)

1. Renewable Energy Projects
   Given the Prime Minister's commitment to energy improvements, LEs can invest in renewable energy infrastructure, such as solar farms or wind energy projects. Long-term partnerships with the government could yield significant returns, while also fulfilling corporate social responsibility goals. Implementing large-scale energy solutions in conjunction with battery storage technology could support not only rural areas but also bolster industrial zones.

2. Telecom Infrastructure Expansion and 5G Development
   ENet’s advancements highlight the potential for expanding telecom infrastructure. Large enterprises can invest in 5G infrastructure development, including the expansion of fiber optics to support remote areas. Such investments align with Guyana’s rapid economic growth and increasing demand for reliable connectivity, opening up extensive business opportunities for telecommunications providers and related industries.

3. Construction and Real Estate Development near New Hospitals
   With six regional hospitals underway, large real estate developers can capitalize on nearby land by developing mixed-use properties that include retail, residential, and healthcare services. Eco-friendly construction methods and green building certifications could add value and attract both residential tenants and commercial clients. By building close to healthcare hubs, enterprises can create integrated communities that appeal to healthcare workers, patients, and families.

Side Hustle Ideas Based On Today’s Developments

1. Medical and Wellness Tourism Guide Service

Opportunity: With new hospitals being built and Guyana’s healthcare system expanding, the country is becoming more accessible for regional medical and wellness tourism. What It Involves: A local guide can offer packages that help foreign patients navigate local healthcare facilities, find accommodations, and explore wellness options (like herbal and traditional remedies). The service could include airport pickups, translations, and personalized itineraries for relaxation and recovery. Why It Works: As healthcare services improve, more people will come for treatments, especially those looking for cost-effective options. This side hustle would tap into the tourism and healthcare boom without a high initial investment.

2. Mobile Power and Tech Repair Service

Opportunity: Given Guyana’s ongoing power stability issues and rising use of digital devices, there’s a demand for small-scale, reliable power solutions and tech repair. What It Involves: Invest in portable generators or power banks for short-term rentals and a basic toolkit for phone and laptop repairs. Service can be marketed as a mobile solution for home or business users who need quick power access or device repairs on demand. Why It Works: Power cuts are still common, and having a reliable tech repair and backup power source will be valuable to individuals and small businesses. This hustle has minimal overhead and flexible hours, allowing a person to manage it after regular working hours.

3. Customized Event Packages for Corporate Celebrations and Festivals

Opportunity: With the economy booming and Diwali’s popularity, there’s an opportunity for customizable event decor and gift packages tailored for busy professionals and corporate events. What It Involves: Offer pre-made event kits, including Diwali or cultural festival decor, corporate gift baskets, or event favors. These kits can include locally sourced products, handmade decor, and festive foods, marketed through social media and community channels. Why It Works: Businesses and professionals want easy, culturally meaningful ways to celebrate, and ready-made kits make it convenient. The flexibility of selling online or through WhatsApp makes it manageable as a side hustle.