Broker-dealers are essential for transforming capital markets in Guyana, enabling wider public access to investment opportunities as oil wealth increases. Their role in democratizing finance is crucial for fostering inclusive economic growth and reducing inequalities. Angus Young of NCB Capital Markets emphasized the need for broker-dealers to offer diverse investment options that cater to all citizens, enhancing the overall economic landscape.
Broker-dealers play a pivotal role in the capital markets, facilitating seamless transactions of securities for investors. As the presence of wealth expands among the Guyanese population, there is a concerted effort among stakeholders to cultivate a supportive environment for these firms within the country. The influx of revenue from the burgeoning oil sector is propelling the Guyanese economy, creating a myriad of investment prospects. This evolving economic landscape is encouraging a growing number of citizens to seek avenues for wealth accumulation. As Guyana endeavors to fortify its capital market framework, the integral contribution of broker-dealers becomes increasingly apparent. According to Angus Young, CEO of NCB Capital Markets, during a recent address at the Jamaica Stocks Exchange’s 2nd Regional Investments and Capital Markets Conference in Guyana, broker-dealers have a crucial obligation to democratize access to wealth creation opportunities for all Guyanese citizens. He emphasized that broker-dealers would facilitate the inflow of fresh regional capital into Guyana as it emerges as the fastest growing economy globally. Mr. Young elaborated on the common perception that capital markets are often reserved for a privileged elite, resulting in a disconnection among the wider population from potential wealth-building opportunities. He remarked, “An economy that grows without the full participation of all, a wide base of its citizenry, is also one where inequalities will thrive. To truly democratise wealth, we need an inclusive capital market ecosystem where every citizen can participate and benefit.” He further pointed out the advantages of making capital markets accessible to local businesses and individual investors, noting that this accessibility would yield benefits for the broader economy. Ordinary citizens should have the chance to invest in enterprises, own shares, and engage actively in the economic growth of their nation. Consequently, broker-dealers bear the responsibility of developing investment products that cater to a spectrum of investors, from small to large, accommodating various risk tolerances and capital levels. The limited access to capital has long been cited as a significant barrier to the expansion of the private sector, and broker-dealers are uniquely structured to manage greater risk.
The role of broker-dealers in capital markets is significant as they serve as intermediaries facilitating the buying and selling of securities. In light of the burgeoning wealth associated with Guyana’s rising oil revenues, there is a heightened focus on ensuring that more citizens can engage with and benefit from the capital market. This regard emphasizes the need for an enabling environment where broker-dealers can flourish and promote wealth democratization among the population. The ongoing improvements in the regulatory framework by the Guyana Securities Council aim to bolster the broker-dealer sector, enhancing its capacity to support both local businesses and individual investors.
In summary, broker-dealers hold a vital position in empowering citizens of Guyana to participate in the growing economy through access to capital markets. Their ability to provide diverse investment opportunities can bridge the gap for ordinary citizens, fostering a more inclusive economic environment. As both the government and industry leaders work towards a robust capital market, the involvement and adaptability of broker-dealers will be critical in mitigating inequalities and promoting widespread wealth creation.
Original Source: radiojamaicanewsonline.com
