Diasporic Entrepreneurship in the Caribbean - Firm Profiles.pdf Vol 2 | Page 48

Remittance Firms

Diasporic Market Analysis:
GraceKennedy is a leader in diasporic market
expansion. GKRS assesses world trends in
banking and remittances service and locations
which demand remittances service to cater
to the Caribbean diaspora. Currently, GKRS
is seeking to expand into the Guyanese
market. This banking push has resulted from
an assessment of the country’s fast growing
economy; International Monetary Fund
predicts that the economy will expand by
5.5% in 2014. GKRS is presently awaiting
response from the Guyanese government
on its application for a commercial banking
operating license. GKRS is also considering
expansion into the Eastern Caribbean.
GKRS is planning to offer small business USdollar loans at competitive rates in Guyana
and is also reviewing opportunities in mobile
money services for that market.
Notes
* This firm was included giving its level of activity
within the Diasporic community. In absence of
an interview, the information was collated from
desk research

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