At the Heart of the News: Recommended Strengthening of Financial Safeguards

Title: At the Heart of the News: Recommended Strengthening of Financial Safeguards

Content: According to guests on the show "At the Heart of the News," the controversial arrival of Mamy Ravatomanga in Mauritius reveals the flaws of a system plagued by influence networks.

The Mamy Ravatomanga affair is shaking the Mauritian political and financial scene. On the show hosted by Murvind Beetun, former magistrate Noren Seeburn and ex-minister of Good Governance Sudhir Sesungkur denounced the institutional dysfunctions that allowed the Malagasy billionaire to arrive in Mauritius amidst allegations of money laundering.

"What would have happened if armed terrorists had been in place of the passengers?" wondered Noren Seeburn. For the former magistrate, this security breach is particularly serious as it is the Mauritians who fund these institutions. He drew a parallel with the MV Wakashio incident, stating that in both cases, national security was compromised.

Sudhir Sesungkur pointed out "a group of individuals who control everything, regardless of the government." According to him, Ravatomanga's arrival in Mauritius was not by chance. "He was welcomed and assisted with his formalities. It’s like a mafia that has taken over the system." The former minister lamented that the same people sit on the Boards and perpetuate their methods despite regime changes.

Mafia

Noren Seeburn agreed. "Government after government, a handful of four individuals control the political power of the country." He denounced an "establishment" with international connections that successive governments have failed to shake.

Both guests lamented the absence of sanctions despite numerous scandals that have been exposed. "There have been several investigations, but nothing happens," noted Sudhir Sesungkur. Noren Seeburn sees this as a mark of an "oligarchic governance that has allowed four families to dominate the people for more than 50 years," and they have created a system for their personal enrichment.

Regarding the Ravatomanga case, the ex-minister highlighted the complexity of the setup. "If there hadn’t been complicity in Madagascar, he wouldn’t have been able to transfer such large amounts to Mauritius." He also mentioned possible collusions with banks and various entities to facilitate the transfer of colossal sums. "A minor wound has become a major abscess in our system," he lamented, highlighting the failure of financial institution supervisors. The former FCC commissioner Junaid Fakim resigned after his name was mentioned in the investigation. His lawyer, Me Urmilla Boolell, condemned a "trial by the press" and reminded that there is a presumption of innocence. She questioned the source of the circulating information and claimed that the FCC has "misled the public" through its statement indicating that it withdrew for personal reasons.

Reforms

To break this deadlock, the guests recommended several measures. Sudhir Sesungkur emphasized the need for strengthening financial safeguards, stating that the Bank of Mauritius should have detected these massive transfers. Noren Seeburn advocated for the depoliticization of recruitment in institutions and the adoption of the Freedom of Information Act, which he believes is blocked by the oligarchs. "The Constitution guarantees the right to information, but successive governments are not in a hurry to pass this law which would bring more transparency," he pointed out.