Georgetown: Iconic business personality and philanthropy, Dr Yesu Persaud, 93, died Monday morning at his East Bank Demerara home after suffering a period of ill health.
Described as an innovative leader the University of Guyana had launched an inaugural lecture series to mark Dr Persaud’s influential contributions to Guyana.
He was also awarded the Golden Arrow of Achievement for his works in developing and expanding the Distilling Industry in Guyana and the Cacique Crown of Honour for the development of new industries.
Internationally, Dr Persaud has also received several awards including the Pepsi Cola International-Slice, the Gandhi Organization Plaque, the inaugural Indo Male Lifetime Award and the Glory of India Award and Certificate of Excellence.
Dr. Persaud was an iconic private sector leader in the manufacturing, banking, small business, education and Indian cultural development.
He had spearheaded the buyout of the then state-owned Guyana Distillers Limited and transformed it into an internationally acclaimed rum producer before going on to obtain a licence to start up Demerara Bank.
Mr. Persaud is also credited with the formation of the Institute of Private Enterprise Development which provides loans to micro and medium entrepreneurs. He also headlined investments in Indian cultural activities such as Indian Arrival Day and education, his most recent being the Yesu Persaud Clinical Education Centre.
He dabbled somewhat in the political arena as he had been part of a loosely-knit group, Guyanese Action for Reform and Democracy (GUARD), that had in the late 1980s fought for free and fair elections and human rights.
Dr Persaud has a long and distinguished career that spans many continents, even as the Institute of Private Enterprise Development (IPED) last year unveiled a life-sized bust of Dr. Yesu Persaud, who is the Founding Chairman of IPED and served the institution from October 1985 to January 2018.
He was also a chartered accountant and a master entrepreneur who had dedicated his life to recreating and nurturing the small and micro business sector in Guyana.
His vision led to the creation of IPED and his leadership has ensured improved livelihoods and sustainable micro and small enterprises for over 4000 entrepreneurs across Guyana.
Some of his regional achievements include him becoming a Trustee of the Caribbean Latin American Action (CLAA) that looks after the interest of the Caribbean and Latin American countries and he is past President and Executive Member of this institute, which includes all CARICOM countries and is one of the most influential business organizations in the region.
Dr Persaud is also a past Chairman of the West Indies Spirits Producers Association which is one of the oldest and most respected organizations in the region.
Some highlights include his service as Executive Chairman of Diamond Liquors Limited and the Managing Director of Demerara Sugar Company. He is being credited with achieving a business miracle with regards to Demerara Distillers Limited which stands out in the economic history of Guyana.
President Dr Irfaan Ali on his Facebook page described Dr Persaud as a “true son of the soil.”
“Guyana has lost an outstanding soul in Dr. Yesu Persaud, a true son of the soil. It is with great sadness I learnt, moments ago, about his passing. To his family, friends, management and staff of DDL and Demerara Bank, and the wider Private sector, I join with you in prayers at this time. May his soul find eternal peace,” Dr Ali wrote.
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