The Dutch began colonizing Guyana in the early 17th century. The British and the French also sought to dominate Guyana and eventually, the British succeeded: Guyana became a British colony in 1831. In 1966, independence was declared and from then till 1992, the same party was in power (People's National Congress). The party nationalized most of the large companies in Guyana which contributed to a resource-rich country remaining relatively poor. In 1992, the People's Progressive Party took over Guyana but made little inroads into privatizing the potentially lucrative bauxite and sugar industries. After the death of party leader Cheddi Jagan in March 1997, the prime minister became president of Guyana and Jagan's widow became prime minister of Guyana . Elections held later in Guyana that year brought Mrs. Jagan into power. The PNC represents the interests of black Guyanese while the PPP is primarily the party of Flag of GuyanaGuyana's East Indians. In 1999, Mrs. Jagan resigned and was succeeded by Bharrat Jagdeo has been president of Guyana till now!