The University of Warwick is bestowing an Honorary Doctorate on Yesu Persaud in recognition of his “most significant contribution to the development of business in Guyana.”
Persaud, who the late President Dr Cheddi Jagan once described as “the dynamic businessman who turns into gold everything he puts his hands on” founded the Institute of Private Enterprise Development (IPED) in 1985 and was the driving force behind the setting up of Demerara Bank.
According to a press release from the university, Persaud was born at the Diamond Sugar Estate of humble parents and through “frugality and continuous hard work he was able with the help of his wife” to save enough to pursue his studies in England. He qualified as a Chartered Certified Accountant and practised in the UK for a few years.
On returning to Guyana in 1966, Persaud joined Sandbach Parker and Company, the Sugar Estate he once worked for, which had been in existence in Guyana since the 18th century. “He steadily worked his way up the company and was appointed group finance director and finally the Chairman in 1975,” the release added. The company expanded to form Demerara Distillers Limited, which produces internationally recognised rums, and incorporated several other subsidiaries.
Persaud is also credited with contributing to the restoration of democracy in Guyana. He was involved, in the 1990s, in the pro-democracy movement, GUARD, and campaigned tirelessly for international human rights organisations to observe Guyana elections.
Persaud is also involved in a number of charitable institutions including the University of Guyana’s endowment fund, the Cheddi Jagan Children’s Fund, the Cheshire Home for Disadvantaged Children and others which help needy children obtain an education.
The university said Persaud has been an Associate Fellow for several years. He now joins former South African President Nelson Mandela, Nobel laureate Derek Walcott, Sir Shridath Ramphal, 2006 Nobel peace prize winner Mohamed Yunus, and other persons who have been given this honour.
The ceremony will be held in July.
