The issue of high-energy cost continues to plague the local private sector and RBTT Bank Grenada Limited is attempting to educate the business community on ways to address this issue.
The financial institution last week Wednesday organised a Business Banking Forum targeting business persons/owners at its Grand Anse Branch.
Emmanuel Duncan, General Manager of local electrical services company Southern Electrical, was the facilitator invited to address the issue of energy efficiency for businesses.
Duncan put on display a wide array of energy saving electrical fittings that can aid in the reduction of energy cost as he reiterated to participants in the forum that the high-energy cost in the country remains the biggest challenge to business owners.
His advice to business owners is to maintain the basic practice of conserving energy by reducing consumption, which will in turn reduce the cost of electricity and change their behavioral pattern such as switching off appliances when leaving the office.
Duncan told participants that Southern Electrical over the past years has and continues to invest in energy saving devices that can aid in the lowering of electricity costs and encouraged business owners to invest in these devices.
He explained that while it can be costly in these financially challenging times for businesses to invest in replacing regular electrical devices with more efficient energy-saving devices, it would be an investment that will result in more savings for the company over a period of time.
Bank employees, Timothy Reid and Marcus Samuel addressed the gathering on Business Banking.
Reid said that this is RBTT’s first such initiative of its kind, providing advice to clients, and the financial institution intends to look at other areas of interest to address with various sectors of the country.
He stressed that the objective of the bank should not be seen only as providing loans but also as an institution that provides full service to the people of Grenada.
Samuel reminded business owners of what is needed and points to consider such as one’s ability to pay, credit history, capital and security when meeting with a financial institution for loans.