Excel Guyana receives local content certificate

Excel Guyana Inc and its affiliated companies – Excel Logistics & Management Services (Guyana) Inc, and Excel Construction Inc – have received confirmation of registration by the Local Content Secretariat.
This comes on the heels of the Government announcing its efforts to review the local content legislation in order to address the loopholes that foreign companies use to manipulate the systems in place to ensure that Guyanese benefit from the oil and gas sector.
As such, Excel’s Chief Executive Officer, Kris Sammy, said he is elated that the company has passed all requisite criteria and is now fully certified.
“The Excel companies are indeed honoured to be fully registered with the Local Content Secretariat alongside other great Guyanese companies. We look forward to being one of the driving forces in local capacity development. We will take full advantage of the opportunities within the petroleum sector for the benefit of our employees, partners, and the nation,” he said.
It was also expressed by the company’s representative that they are in full support of the President’s move to promote the future of the Guyanese people through the Local Content Act.
“The firm is also committed to building strategic partnerships that elevate local and international clients, partners, and the communities that Excel serves,” they expressed.
Just last month Vice President Bharrat Jagdeo said companies have now taken to using their junior Guyanese staff to fill up the legally-mandated quota for senior management staff, all while the junior staff continue to collect their original salary.
As such, he said his Government intends to deal with this issue.
Guyana passed its local content laws in December 2021, which detail a series of measures geared towards ensuring that Guyanese and locally-owned businesses benefit from the oil and gas sector.
The Act stipulates that oil and gas companies operating in Guyana, as well as their contractors and sub-contractors, must procure from Guyanese companies by the end of 2022, 90 per cent of office space rental and accommodation services; 90 per cent of janitorial, laundry and catering services; 95 per cent of pest control services; 100 per cent of local insurance services; 75 per cent of local supply of food; and 90 per cent of local accounting services. These are just some of the 40 different services outlined in the first schedule.
The Act also defines a local company as one incorporated under the Companies Act and beneficially owned by Guyanese nationals. Beneficial ownership is defined as owning 51 per cent of the company.
Additionally, a local company is expected to have Guyanese in at least 75 per cent of executive and senior management positions and at least 90 per cent in non-managerial and other positions.
Excel has more than 30 years of experience in building businesses in Guyana and the Caricom region, with more than 10 years of local presence in Guyana.