There has been much uproar in the local news, particularly the printed media about the proposed acquisition of Banks DIH, the flagship company of local commerce by Ansa McAl of Trinidad. Trinidad is of course years ahead of Guyana in terms of development. Trini-dad has been swamped by American (corporate) culture and remains the number one spot for American capital in the region, boosted by its oil and gas industries. There is growing disparity between the rich and the poor, as in Guyana. Banks DIH alternatively operates in a zero growth economy of high electricity bills but vast "potential" including hydro power that remains unexplored by local corporations.
Few can argue that the assets of Banks DIH are managed how they need to be in a global world. The chairman of Banks DIH, Mr Clifford Reis (who has received an award from the Guyana Manufacturers Association) regularly complains of external problems but at the same time is unable to stretch internal resources.
The flagship product of the company, Banks Beer has low brand value in an aged industry. It still however has some recognition in a competitive market, favoured most by non-locals. As Dr. Thomas et al. have noted, Guyanese prefer foreign products such as Carib or Heineken.
As a shareholder of Banks DIH, I would be interested in better leadership at the top, investment in training and promotion on merit, something that appears to be missing from any (human resource) strategy our company may have. The company should also have funds to hire MBA graduates as senior managers and executives as a standard practice, to guide the organisation in the global arena where you must compete with the best. If it succeeds then one day its own brand of organisation culture may be exported to foreign shores.
There should be nothing to prevent the take-over of Banks DIH on any "nationalistic" grounds. It should be remembered that Rolls Royce is now owned by England's arch-rivals the Germans and the Queen of England's ancestors are from a little further north than Windsor; the most skilled Guyanese live patriotically outside these shores and our most learned scholar is of course from Trinidad but prefers to reside in Guyana. We live in a global world of paradoxes and uncertainties. Some even argue that national boundaries are playing less and less significance and smaller groups are having a greater say in terms of how they wish to be defined.
Whether Trinidadian hegemony or the inevitable tide of change, Guyana and more importantly Guyanese should open their eyes to this new reality. The PPP administration and the World Bank and IMF have laid the foundations. Foreign Direct Investment and private capital flows are the name of the game and we should be grateful for anyone who wishes to do business here, to reduce the grotesque rates of unemployment in the country. Our fundamentals are after all in place, beckoning any Price Charming that would kiss this frog.
The future is there to be grasped by all, including Guyanese. Education, knowledge and leadership are of course the key.
In closing, I would agree that it would have been preferable to have Guyanese visionaries leading such a company, however they appear to be few and far between, fostered by a national culture of mediocrity.