PMQT: Rs 3.69 Billion Invested in MauBank from 2015 to 2024

Vieux-Grand-Port/Rose-Belle MP Manoj Seebun asked Prime Minister and Finance Minister Navin Ramgoolam about government funds invested in MauBank between 2015 and 2024. He stated that the government has injected Rs 3.69 billion into the bank during this period, with no return on investment so far.

The Prime Minister explained that the government’s investments were made as equity capital through MauBank Holdings Ltd, which is wholly owned by the government.

MauBank Ltd is a subsidiary of MauBank Holdings Ltd.

From September 2015 to November 2024, the government made several investments:

• Rs 1.59 billion on September 17, 2015, to acquire shares in the former Mauritius Post and Cooperative Bank Ltd and National Commercial Bank Ltd.
• Rs 300 million on October 29, 2015, to help MauBank Ltd meet regulatory capital requirements.
• Rs 1.3 billion on January 13, 2016, also to support MauBank Ltd in fulfilling capital regulations.
• Rs 500 million on April 1, 2024, for the bank’s growth and expansion.

The Prime Minister noted that since MauBank Holdings Ltd’s creation in September 2015, the government has not received any return on its investment.

Source: Le Mauricien