🇲🇺MauritiusEast Africa
Mauritian real estate giant Evaco placed into receivership after 24 years of operation
via Le Mauricien5 min read
Evaco Ltd, a prominent Mauritian real estate developer and builder listed on the Stock Exchange of Mauritius, has been placed under judicial administration. Mushtaq Oosman and John Chung were appointed Receiver and Manager on May 26, 2026, with the decision officially announced on May 28. This development impacts approximately 350 employees, whose salaries reportedly have not been paid since April, and hundreds of buyers involved in off-plan sales VEFA. The company's flagship project, Cap Marina, located in Cap-Malheureux, had a potential sales value of nearly Rs 15 billion and attracted international clients. Evaco claims that the receivership was triggered by Silver Bank Limited over an outstanding amount of Rs 39.7 million, despite the company having assets valued significantly higher than the debt. Evaco also alleges that SBM Bank, a long-term banking partner, made a series of decisions between 2024 and 2026 that progressively constrained the group financially. Evaco had submitted four recovery plans to SBM between February 2025 and May 2026, including one with an investor ready to inject Rs 520 million. The company has filed a complaint with the Supreme Court of Mauritius against Terra Mauricia Ltd and its former CEO, Alexandre de Saint Pern, alleging conspiracy and deliberate actions that caused significant harm. SBM Bank has denied any wrongdoing, stating it acted in strict compliance with contractual obligations and banking practices. The future of Evaco's employees,
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Le Mauricien.
Must ReadThe Minister of Labour, Reza Uteem, announced in the National Assembly that he might recommend the revocation of ENSafrica Mauritius's operating license if a satisfactory resolution is not reached in a case involving alleged religious discrimination. This follows conclusions by the Equal Opportunities Commission EOC that two former employees, Nadrah Binte Diouman-Ameer and Mushirah Hanna Humeirah Aubdoollah, presented sufficient evidence to suggest religious discrimination after they were dismissed for wearing the hijab at work. The EOC's report, dated May 8, 2026, found no convincing proof of a formal rule prohibiting the hijab or clear communication of such a requirement to the employees. The firm's argument of a "secular character" was not found in the employee handbook, which focused on professional presentation without explicit reference to religious symbols. The absence of signed employment contracts for the complainants further weakened the employer's case. The EOC emphasized that internal company policies must respect fundamental constitutional rights, stating that dress codes or neutrality policies must be objective, proportionate, and compatible with individual freedoms. The Employment Relations Tribunal previously ruled the dismissals unjustified but did not order reinstatement. The EOC has given the parties 45 days to reach an amicable settlement. If no agreement is reached, the matter could proceed to the Equal Opportunities Tribunal or other competent courts. Mi
Must ReadA French expatriate teacher, dismissed from the French School of Seychelles in Victoria following sexual harassment allegations by 14-year-old students, was reportedly recommended by the director of the same institution for a position in Mauritius. The man, who taught physical education in Seychelles, was summoned before a disciplinary committee after student reports and parental concerns. He was suspended, and his contract was subsequently terminated. He was recruited last September by a French school in Mauritius, where he now teaches the same subject. The case has circulated in Mahé, Seychelles, and parents in Mauritius are upset and plan to speak out for their children's safety. The incident reportedly began months ago when two 14-year-old students officially reported the physical education teacher for sexual harassment to the school director. Other girls, also alleged victims, initially intended to speak out but reportedly withdrew due to concerns about how the school administration handled the matter. Following the denunciations by the two teenagers and pressure from some parents, the school established a disciplinary committee to investigate the allegations and determine actions. After reviewing the serious accusations, the disciplinary committee decided to suspend the teacher, and his contract was later terminated. However, the matter did not proceed to a police investigation in Seychelles because no official complaint was filed by the alleged victims. A source in Sey
Must ReadIréné Barahira, 51, the son of Agathe Uwilingiyimana, Rwanda's assassinated Prime Minister, recently visited Mauritius and shared his harrowing experience of the 1994 Rwandan genocide. This tragic event claimed the lives of his parents and over 800,000 people in 100 days. Iréné, along with his siblings, became exiles in Switzerland, carrying the deep emotional scars of the trauma. His mother, Agathe Uwilingiyimana, was the first woman to hold the position of Prime Minister in Rwanda. On April 7, 1994, at the onset of the genocide, she and her husband were brutally murdered by the presidential guard. Iréné and his siblings narrowly escaped death thanks to the protection of UN peacekeepers and diplomats, leading to their swift exile in Switzerland. Iréné, who was 18 at the time, was a high school student aspiring to be a social worker. He recounts a happy family life in Kigali, with his father, 43, a law professor, and his mother, 41, the Prime Minister. The family, including his sister Marie-Christine, 16, and brothers Christian, 14, Michel, 5, and Théo, 3, lived comfortably with household staff and protection from eleven Belgian peacekeepers due to their mother's position. This privileged childhood was abruptly shattered on April 6, 1994, when the presidential plane was shot down. The following morning, their home was attacked, the Belgian guards were captured and killed, and his parents were forcibly taken away and murdered. Their bodies have never been found. Iréné and his
A working meeting of the subcommittee on internal security of the Mauritius–Reunion/France "Contact Group" was held at the Central Barracks, focusing on strengthening regional security cooperation. Institutions from both Mauritius and Reunion, including the Anti-Drug and Smuggling Unit ADSU, gendarmerie, French national police, Financial Crimes Commission FCC, and the Ministry of Land Transport, participated. Police Commissioner Rampersad Sooroojebally emphasized that French presence demonstrates a commitment to making security a priority through consultation, intelligence, and concerted action against all forms of criminality. He noted that current threats, such as drug trafficking, money laundering, public disorder, and road safety risks, transcend island borders, requiring a global, integrated, and coherent response. Sooroojebally highlighted the fight against narcotics as a core priority, aiming to disrupt it from production to distribution and the reintegration of illicit funds into the economy. He also stressed the importance of combating money laundering through enhanced detection capabilities and information sharing, stating that no country or institution can act alone against transnational crimes. Road safety was also discussed, with Sooroojebally linking risky behaviors to broader issues like illicit substance use and lack of responsibility. French Ambassador to Mauritius, Frédéric Bontems, underscored that international criminal networks know no borders and that th