A group of Lokono Amerindians who were enslaved on a plantation on the Essequibo coast escaped from captivity, crossed the lake, and resettled the abandoned village.

[2] The economy of Capoey is based logging, subsistence farming, gold mining,[2] and tourism has become important.

[4] The village provides free transportation to the coast for secondary and trade education.

The lake is known for its large beige beaches, black water,[4] and benabs (palm thatched hut).

There is a tiny hamlet on the northern edge of the lake called Mary Point which is part of the Capoey reserve.