The Non-Citizens (Property Restriction)(Amendment) Act

Why this urgency ?

Government pretends that it brought these amendments to “clamp tighter controls on the purchase of real estate by foreign nationals” and thus “enable Mauritian households aspiring to home ownership to achieve their goal." They are selling this amendment as a long-due introduction of the necessary controls on foreign home ownership to give more protection to aspiring homeowners in our country and prevent foreign nationals to circumvent our legislation regulating land ownership, to acquire property in Mauritius.

Supplementary Appropriation 2020-21 Bill

The Supplementary Appropriation 2020-21 Bill provides for additional expenditure of Rs 17bn, of which the bulk relates to an equity injection of Rs11.9 bn into the National Property Fund. As I mentioned in November last when the bill was supposed to be taken up , the cost of dismantling the BAI could well reach a final amount of Rs20 bn and that the public will be footing the bill in the coming years, after having been fed with illusions of high returns from the outright sale of NIC, Maubank, Apollo Hospital, and other BAI assets."

La loi scélérate ICTA: Péna Simé !!!!

Gouvernma pas pou abondoné lor la loi scélérate ICTA, kroir moi !!!

The latest Moody’s Report ( 15 Apr 2021)- Banking System Brief

Main Highlights and impact :

Is our economic tide lifting all boats ?

Going through Sithanen's interview in the latest edition of the Week-End newspaper, the reader cannot afford not to be impressed by our master crafter’s articulate display of the right intellectual sound bites- Technical Rebound , the Scarring Effect, Business Model, Liquidity et Solvency, Creative Destruction, good money after bad money , an unprecedented crisis with direct consequences, we have to think out of the boxes and disrupt the system otherwise we will be disrupted , cette dimension d’Attractiveness, Unity of Purpose and the Collective Patriotic Effort.

Concern for Social Cohesion ?

I recall the IBL boss crossing swords with the then Minister of Economic Development, Financial Services and Corporate Affairs quite some time back in 2003.

The Minister was launching the Code of Corporate Governance for Mauritius and in his speech he had highlighted that the key objective of the corporate governance reform was to enhance shareholder value and corporate efficiency.

Ocean Economy- Emerging pillar of growth.

Instead of wasting taxpayers’ money, touring the world selling Mauritius as a business destination, which has however succeeded in only attracting investors in the real estate market, EDB could prove itself to be more useful by reactivating the “Ocean Economy “ project.