Restructuring: DBM Is Moving to Africa

9 years, 11 months ago - April 14, 2014
Restructuring: DBM Is Moving to Africa
Mauritius will soon sign an agreement with the Small Industries Development of India and Bank of Maharashtra . These have, however, already made an offer to redeem the majority of shares in the bank , said the Minister of Finance to Parliament last Tuesday, April 8.

If we know more about the redemption proposal, the Council of Ministers held this Friday, April 11th came clarify their strategy: move to Africa but also become a "one-stop shop" for small and medium enterprises.

In the DBM, it is estimated that Indian investors want exploiting the resources of the development bank to propel Africa. "They want to make the DBM an investment bank on Africa, but the Indians want to use us as a stepping stone," says Bhugurutty Dadoo, President of the Staff Association DBM .

For him, the strategic partners selected by the Ministry of Finance are " not interested in the country's SMEs, they seek a pretext for Africa". The fact that private partners are majority shareholders also concerned: among employees, we wonder who will have the many assets of the DBM, including buildings it owns.

Financially assist SMEs

According to the Council of Ministers, the DBM is also called to become " The Most preferred customer-centric bank serving the unmet financial Needs of Micro, Small and Medium Enterprises . ". This, to offer services tailored to them in areas such as tourism, agriculture, manufacturing, trade and the environment.

 

Text by lexpress.mu

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