Open Letter: Prime Minister Urged to Restore Justice in British American Investment Case

An open letter has directly challenged Prime Minister Dr. Navin Ramgoolam, demanding he restore nationalised companies, including BAI and Bramer Bank, to their legitimate owners. The letter asking the Prime Minister, “What is Holding You Back from Restoring Justice in the BAI Affair?”, focuses on the seizure of key assets following the collapse of the BAI Group.

Call for Return of Nationalised Assets

The core demand of the letter is the return of several key companies that were seized or taken over following the financial collapse and subsequent nationalisation of the BAI Group.

• The companies specifically named are:
  • BAI (now known as NIC)
  • Bramer Bank (now known as Maubank)
  • Apollo Bramwell Hospital (now known as Welkin)

The Open Letter to Dr Navin Ramgoolam:

Dear Prime Minister,

I write to you today on behalf of the tens of thousands of Mauritians who believed in your promise of change and the restoration of the rule of law. We placed our trust—and our life savings—in the former BAI Group, and we placed our hope in your government to rectify one of the most profound injustices in our nation’s recent history.

As your government approaches its first anniversary, we are compelled to ask, with respect and profound concern: What is Holding You Back from Restoring Justice in the BAI Affair?

This is more than a financial matter; it is a test of our nation’s commitment to its own laws and its citizens. You once stood with us and acknowledged the injustice. We now respectfully call upon you to act.

We ask you to consider the following points of logic and law:

1. The Question of Management and Accountability. The management team overseeing the National Insurance Company (NIC) today is the same team that led the former BAI. This presents an undeniable logical contradiction: if a genuine Ponzi scheme existed, those responsible for its day-to-day operations would have been held accountable. Conversely, if this management has been deemed «fit and proper» to run the same company now owned by Government, and the CEO’s subsequent appointment as President of the Insurance Association of Mauritius, it suggests the products we invested in were legitimate. Why, then, have only the shareholders and investors been penalised?
2. Etat de Droit—a State governed by law Our Constitution, in Section 8, guarantees that property cannot be taken without “adequate compensation.” The seizure of an entire international conglomerate for a symbolic Rupee stands in direct opposition to this foundational principle. The state’s current ownership and operation of these assets, built with our capital, constitutes a form of state capture that undermines the very «Etat de Droit» you pledged to uphold. A democratic state cannot ethically profit from assets seized from its citizens without just compensation.
3. The Failure of Fiduciary Duty vs Abandoned Assets Assets of the former BAI Group have been sold under a cloud of opacity, with the terms remaining hidden from public view. Meanwhile, other properties are neglected and allowed to fall into ruins. Why? The senior management of ex-BAI is the exact same management of NIC now. They had a fiduciary duty to us then, and that duty does not simply vanish when they are now NIC. The ongoing silence and inaction represent a continued betrayal of that duty.

Mr. Prime Minister, we are not asking for a favour. We are asking for the justice you promised and for the return of what was rightfully ours. We seek the return of companies like BAI (now NIC), Bramer Bank (now Maubank), and Apollo Bramwell Hospital (now Welkin) to their legitimate owners.

The former shareholders stand ready to cooperate. Why does the government remain silent? Why are competitors allowed to profit from the businesses our investments built? Where is the accounting for the sold assets?

The hopes of thousands of Mauritians rest on your courage to correct this historic wrong. This is your moment to demonstrate that in Mauritius, the rule of law is supreme, and a promise made is a promise kept.

We trusted you to deliver change. With the passage of time, that trust is being tested. Do not let our faith in your leadership become another casualty of this affair.

Respectfully,

Mavis Latchman,

On behalf of Citizens Awaiting Justice

Source: Defi Media