MauBank Ltd., he will state the amount of public funds invested therein by Government over the period 2015 t…
(No. B/536) Mr M. Seeburn (Second Member for Vieux Grand Port & Rose Belle) asked the Prime Minister, Minister of Defence, Home Affairs and External Communications, Minister of Finance, Minister for Rodrigues and Outer Islands whether, in regard to MauBank Ltd., he will state the amount of public funds invested therein by Government over the period 2015 to November 2024, indicating the Return on the said Investments by Government in relation thereto, if any.
Madam Speaker, I wish to inform the House that Government has injected funds in the form of equity into MauBank Ltd through the MauBank Holdings Ltd, where Government is the sole shareholder. MauBank Ltd is a subsidiary owned by Maubank Holdings Ltd. I am informed, Madam Speaker, that over the period September 2015 to November 2024, Government has injected funds amounting to Rs3.69 billion as follows – (a) Rs1.5 billion on 17 September 2015 for the acquisition of shares in Ex-Mauritius Post and Cooperative Bank Ltd and Ex National Commercial Bank Ltd; (b) Rs300 million on 29 October 2015 to enable Maubank Ltd to meet its regulatory capital requirements;
21 (c) Rs1.3 billion on 13 January 2016 to enable Maubank Ltd to meet its regulatory capital requirements, (d) Rs500 million on 01 April 2024 for the growth and expansion of the bank. Government, I must say, Madam Speaker has not yet received any return on investment from MauBank Holdings Ltd since its incorporation in September 2015.
Thank you. Yes, hon. Second Member for Rodrigues! RRA – 2025-2026 BUDGET ESTIMATES – ESTABLISHED PROJECTS & PROGRAMMES – BUDGET QUANTUM