–emphasises dangers of weaponising political rhetoric to incite division, erode trust, and destabilise local economy, society
–says financial institutions within their right to safeguard operations

The following is the full text of a statement from the Private Sector Commission:
“The Private Sector Commission (PSC) strongly condemns the recent abhorrent public call by the WIN Party to boycott several private companies operating lawfully in Guyana. This call is reckless, inflammatory, and both politically and economically irresponsible.
Let us be absolutely clear: the private sector in Guyana is not an arm of the state. Our members make decisions based on their internal risk assessments, legal obligations, and the best interests of their shareholders, employees, and clients.

These companies operate fulty within the framework of Guyana’s laws and international regulations.
We categorically reject any attempt to bully or coerce the private sector into political conflicts. The attempt by a political party, whose leader is currently sanctioned by the United States’ Office of Foreign Assets Control (OFAC), to pressure private businesses through public threats and organised boycotts is a direct attack on the democratic principles it claims to uphold.
The greatest threat to democracy is not lawful private enterprise; it is the dangerous weaponisation of political rhetoric to incite division, erode trust, and destabilise our economy and society.
Many of our member companies maintain longstanding economic relationships with the United States and other international partners. Threatening these businesses for making responsible, lawful decisions is not only misguided but also reckless, with potential consequences for the thousands of Guyanese whose livelihoods depend on them.
We urge all political actors to conduct themselves with maturity and responsibility.
The PSC will not support, condone, or remain silent in the face of any effort to destabilise our political or economic environment or to intimidate our members.
To the business community, we reaffirm this:
You have our full support.
Continue to act in good faith, uphold the law, serve your clients, and protect your employees. Do not be intimidated by political posturing.
“To the public, we urge calm and reason. Guyana’s continued progress depends on a stable, lawful, and united nation.”

The following is the full text of a statement from the Georgetown Chamber of Commerce and Industry:
“The Georgetown Chamber of Commerce and Industry (GCCI) strongly rejects and condemns calls from the ‘We Invest in Nationhood’ (WIN) party for the boycotting of several local businesses, following the closure of bank accounts of members of that party by the private sector businesses in the financial industry.
The Chamber has noted that these actions are consequent to the June 2024 Office of Foreign Assets Control (OFAC) sanctions against the presidential candidate of the WIN party, Mr. Azruddin Mohamed which outline that “Financial institutions and other persons that engage in certain transactions or activities with the sanctioned entities and individuals may expose themselves to sanctions or be subject to an enforcement action.

“The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated person, or the receipt of any contribution or provision of funds, goods, or services from any such person.”
These financial institutions, in the wake of dire implications of transacting business with sanctioned individuals and those who may benefit from financial contributions from them, are within their right to safeguard their operations from inherent risks associated with conducting business with such individuals.
To advocate for the boycotting of these banks and businesses associated with these institutions are dubious and self-serving, and such calls must be strongly rejected by the public.
Guyana’s economy and business landscape are at a crucial juncture, and it is important that this trajectory is not impeded or obstructed by penalties as a result of rogue elements instigating reckless, divisive and dangerous actions that are destructive to private sector and national development.
Weaponising the economy for political ends threatens livelihoods, undermines investor confidence, and erodes the democratic values we staunchly defend.
“Businesses are not political battlegrounds – they are vital pillars of our national economy and social stability.”
Despite the widely reported risks of association with sanctioned individuals, Mohamed, through his party, has chastised two of those institutions for their move, which involves taking precautions and safeguarding their operations.
In a statement on the Team Mohamed Facebook page, he labelled the reputable institutions as corporate footstools of the PPP/C and warned them, specifically Demerara Bank and GBTI: “This atrocity will not go unanswered.”

The statement went on to note: “WIN calls on all freedom-loving Guyanese, of all races and classes, to stand in resistance against this creeping authoritarianism. If we do not act now, we may soon find ourselves in a nation where elections are a farce, opposition is criminalised, and corporations act as the police of the ruling party.
“As a first step, we call on all Guyanese to boycott: Demerara Bank, Guyana Bank for Trade and Industry (GBTI), Demerara Distillers Limited (DDL) and all their goods and services, The Beharry Group and all its subsidiaries, goods, and services, KFC, and Pizza Hut.”
Mohamed has since faced backlash online for this move, as persons have even pointed out that ordinary individuals are facing repercussions for being on the party’s list while his sister Hana and her husband Max Dmitriyev are not listed as candidates for WIN.