A SIGNIFICANT Memorandum of Agreement was signed between Banks DIH Limited and the General Workers’ Union (GWU) during a ceremony held at the Ministry of Labour in Georgetown.
The agreement, which was reached after five days of negotiations spanning 30 working hours, marks a major achievement for both parties involved.

The signing event was chaired by Chief Labour Officer (CLO) Mr. Dhaneshwar Deonarine and was attended by key representatives from both the union and Banks DIH. The General Workers’ Union delegation included President Norris Witter; General Secretary, Pancham Singh; Branch Chairman, Quincy Bailey; Branch Secretary, Lawrence Drakes; Field Officer, Colin Miller; Branch Committee Member, Dennis Glasgow, and Shop Steward, Nunyam Haynes. Representing Banks DIH Limited were Finance Director, Mr. Deonarain Seepaul and HR Chief Executive/General Counsel, Mrs. Kavorn Kyte-Williams.

In his remarks, GWU President, Norris Witter, emphasised the smooth and cooperative nature of the negotiations which he described as “non-adversarial.” He praised the positive relationship between the union and the company, stating that both sides demonstrated a mutual recognition of the importance of employees.

Mr. Deonarain Seepaul, Finance Director of Banks DIH Limited, called the agreement a milestone and reaffirmed the company’s commitment to its workforce. He highlighted key outcomes of the negotiations, including a 25% wage increase and enhanced benefits for employees over the next three years. He also emphasised the company’s focus on ensuring job security, providing medical and life insurance benefits, and supporting employees in retirement, all while maintaining sustainability for shareholders, employees, suppliers, and customers.

CLO Mr. Deonarine praised the constructive engagement between Banks DIH and the General Workers’ Union, noting that the swift and amicable negotiations should serve as a model for other companies. He commended both parties for their willingness to engage in a collaborative manner.
The event concluded with the formal signing of the agreement and a photo session.

Banks DIH Limited is a leading food and beverage manufacturer in Guyana, with operations in food production, beverage manufacturing, and restaurant services. The company also offers automotive and financial services through its subsidiaries Banks Automotive and Services Inc. and Citizens Bank Guyana Inc., respectively.

The General Workers’ Union is an independent and democratic workers’ organisation that advocates for the rights and interests of its members across various sectors.
The newly-signed agreement marks a progressive step in maintaining harmonious industrial relations while promoting employee welfare and corporate sustainability.