GWI boasts of turnaround in finances; renewed confidence in operations

The Guyana Water Incorporated (GWI) is reporting that there is a major turnaround in its operations, including its finances – which has resulted in renewed confidence in its operations, including from regional and international partners.
In 2022, the water company had announced that there was a major overstaffing issue that was costing the company millions of dollars. As such, it was forced to downsize its human resources to recuperate funds and restore the company’s financial viability.
During a press conference at the agency’s headquarters on Thursday, Chief Executive Officer (CEO) Shaik Baksh revealed that due to strategic management, GWI has witnessed a significant turnaround in its operations and is now increasing its staffing once again.
He also boasted that a large portion of GWI’s annual budget has been injected into ensuring that employees are working in well-equipped environments.
“We are paying our staff on a timely basis, we have refurbished all of our offices across the country fully equipped with air conditioning and computers, work stations, we have built two or three new buildings and we have to build one on the East Coast soon. We are spending a lot of money on staff welfare, protective clothing, and all of these things.”
Baksh further told reporters that the turnaround in the company’s financial situation has resulted in them paying suppliers and contractors on time.
“We don’t owe; we have 30 days from when a claim is made for works done or supplies received and I recently ordered an audit to see how effective our payment system is, and 95 per cent of the time we are meeting that deadline to pay our creditors. There is renewed confidence in GWI by all of our contractors and creditors because when we advertise for a well, we get 10 to 12, sometimes 20 bids for a distribution network and they all want to work with GWI because they are being paid on time,” he added.
The GWI CEO added that its financial status is also opening doors for investment from regional and international partners such as the Caribbean Development Bank (CDB), which helps Caribbean countries finance social and economic projects.
“The Caribbean Development Bank, the EIB (European Investment Bank), and the Japanese Financial Institute are all coming here and discussing with us loans because they have confidence in what GWI is doing.”
In 2024, the Government of Guyana approved $22.5 billion for the Guyana Water Incorporated (GWI) to improve water quality and supply systems across the country.
Last year, $16.8 billion was spent on the water sector, which resulted in the extension of transmission and distribution networks being completed for unserved areas including Experiment, Kuru Kururu, Mibicuri, No. 63 Village, Paradise, Parika Backdam, Swan, Windsor Castle and Yarrowkabra, to benefit approximately 6,500 residents.
Further, in 2023, works advanced on the upgrade of 12 existing water treatment plants, which will be completed in 2024.