Paul Lismore

THE DOMAH COMMISSION D'ENQUETE ON THE BOTCHED SALE OF BRITAM HAS SO FAR PROVED ONLY 2 THINGS: THAT HALF A TRUTH IS OFTEN A GREAT LIE, AND THAT NO LAUNDRY COULD EVER MATCH THE WHITEWASHING SKILLS OF OUR SO CALLED COMMISSIONS D'ENQUETE...

Mardi 11 Septembre 2018

The wilful destruction of BAI/Bramer by a bunch of unreconstructed, vindictive, nasty individuals over 3 years ago has also served to show us that in our so called democracy with its crap education system, failed politicians, and the independence and objectivity of a press which is at best questionable and at worst non existent, propaganda can be easily manufactured on a gigantic scale resulting, in what George Orwell once called, a country where " useful lies were preferred to harmful truths".


THE DOMAH COMMISSION D'ENQUETE ON THE BOTCHED SALE OF BRITAM HAS SO FAR PROVED ONLY 2 THINGS: THAT HALF A TRUTH IS OFTEN A GREAT LIE, AND THAT NO LAUNDRY COULD EVER MATCH THE WHITEWASHING SKILLS OF OUR SO CALLED COMMISSIONS D'ENQUETE...
Only the brain dead and the zombies could now possibly refer to BAI/Bramer as a 'Ponzi', when everything clearly pointed that the assets of the company significantly exceeded its liabilities...as the BDO firm of accountants said in its audit of 2014 until it was persuaded by the head office in South Africa to change its findings following the destruction of BAI/Bramer some months later.

And no one mentions the fact that the appointment of the Senior Accuntant/partner of BDO, Yacoob Ramtoolah, as administrator of the BAI/Bramer corpse was ILLEGAL, according to the laws that the same politicians who destroyed the company had previously passed.

Judge Domah would no doubt be aware that any judge led inquiry that wishes to retain some credibility or respect (esp in the light of previous judges' led commissions of inquiry...) ought to, at the very least, seek the views and opinions of the man who created Britam.

Never mind all these 'experts', esp of the accuntant variety, crawling out of the woodwork to give their tuppence worth of opinion about the real value of Britam! Ask Dawood Rawat as he should know its real value. After all, a long time before the current opportunists and scavengers have noticed that Africa exists, he had already diversified his interests into Botswana, Kenya and other African countries.

If Judge Domah is really keen to find the truth about the sale of Britam and its real value (which is a lot more than the Rs 4.2 billions often mentioned..), then perhaps someone ought to unravel the intricacies of using WhatsApp/Skype, etc to him so that he can get the truth straight from Dawood Rawat's mouth.

After all, if the never ending Boskalis trial involving two great serviteurs du pays, Montrou and Sid Dick, has no problems (MT and Sherry darling permitting...) using Skype to cross examine the two main Dutch witnesses in that corruption scandal, why can't Judge Domah interview/cross examine Dawood Rawat about the botched sale of HIS company by corrupt, thieving arseholes?

It sure would be a lot better and more enlightening than the quite farcical and burlesque exchange of " pa moi sa, li sa" by Bhadain, Tekwa face Manraj, Wilkinson, various accuntants competing with each other in the oleaginous and reptilian stakes, etc: all of them with a vested interest to show how such apparently massively intelligent and distinctly ethical individuals with integrity as their middle names, could have possibly made such a giant cock up.

Let me refresh your memory with what I previously wrote about the real value of Britam and how selling it at a mere Rs 2.4 billions is either legalised theft, or corruption and incompetence on a massive scale:

"1/ Britam, at the time of the botched sale, owned 46% of the Housing Finance Bank (HFB) of Kenya. Britam's shares were conservatively valued at Rs 10 BILLIONS, at the very least. Both Munga and Wairegi, the chaps 'negotiating' with the politicians and accuntants in Mauritius, were directors of HFB and therefore knew the real value of Britam's shares.

2/ Britam owned 10% of the shares of Equity Bank, which is the largest bank in Kenya, with subsidiaries in various African countries.The CEO of Britam, Benson Wairegi, was also the Vice Chairman of Equity Bank, and therefore it is inconceivable that he did not know the true value of the shares of Britam. At the time of the botched sale of Britam, the shares of Equity were worth $ 2 BILLION, i.e. around Rs 70 BILLIONS. 10% of that belonged to Britam and were therefore worth around Rs 7 BILLIONS."

These are just 2 points that I raised in a previous post some eighteen months ago to show how a deliberate and quite cynical attempt was made by the arseholes in government and the vultures hovering around them to grossly underestimate the real value of Britam.

A real Commission d'enquête will ask the real question: where has the money gone? Instead of all that tedious 'pa moi sa, li sa' nonsense that insults all of us.

For those who can think objectively, do the basic maths on this and see for yourselves how some bastards have got enormously rich by stealing and desecrating the corpse of BAI/Bramer.

If Britam was sold for Rs 2.4 billions in 2016, how come Munga, the Kenyan supremo of the remnants of BAI/Bramer, a man who was nurtured like so many other ungrateful bastards by Dawood Rawat, recently sold his remaining shares in Britam (13%) to Swiss Re for Kenyan Sh 4.8 billions, roughly Rs 1.7 billions?

What do you now make of Bhadain's bullshit that the Kenyans refused to sell to any non Kenyan entity?

AfricInvest has recently bought 14.3% of Britam for $55 millions. Add the price for the two recent sales I have mentioned and you will see that a quarter of the shares of Britam have recently gone for well over Rs 3 billions...as opposed to the Rs 2.4 billions that Bhadain and co were urging us to applaud them for selling the whole of Britam for an insultingly low Rs 2.4 billions!

Which makes you wonder: what use is a commission of inquiry if the views of the main victim are ignored?

It is rather like a judge conducting an attempted murder trial and who then refuses the right of the victim to put forward his evidence of what really happened to him...In other words, this Domah Commission is worth nothing if he continues to disdainfully ignore the merit of having the main victim depone in his so called commission of 'inquiry'.

Remember, the main attributes of the Domah Commission d'enquete were, inter alia, " — de déterminer si la vente des avoirs, notamment les 23% d’actions de BAI Company (Mauritius) Ltd and Related Entities au sein de Britam Holdings Ltd (Kenya), a été réalisée dans les meilleurs intérêts financiers du vendeur ;— d’enquêter s’il n’y a pas eu de cas de fraude, de faute professionnelle, de corruption, de undue influence ou autres de la part de toute partie engagée dans les négociations pour la vente de ces actions et s’il n’y a pas eu de préjudice financier contre des intérêts à Maurice"."

How on earth can this commission d'enquete find out the truth if it does not ask the primary investor in Britam, Dawood Rawat, the man who more than anyone else would know how much the BAI shares in Britam were really worth, to give evidence?

I do not know who his current zavoka now is or whether he is still stuck with the Mohameds in their labyrinthine cavern of obfuscation and almost complete inaction since April 2015. Whoever is now representing Dawood Rawat ought to rapidly remove his finger from his arse, and to immediately write a formal letter to Judge Domah, and ask that his client must be allowed to depone.

If Judge Domah and his assessors, including the accuntant from la cuisine, really want to know the truth about the botched sale of Britam and its real value, then asking the main victim to depone can only help in their avowed search for the truth.....Assuming they really want to know the truth...

 It does not take a genius to conclude that so far the Domah Commission has failed to address the above issues; and that conducting an inquiry into a sale of a flourishing bank for Rs 2.4 billions instead of the Rs 4.3 billions we were once led to believe was the right figure, is like the proverbial Irish joke where he tells someone lost on the streets and looking for directions, " I would not start from here if I were you..."

Should the Domah Commission look at the real value of Britam, he would come to the conclusion that this was a braderie du siecle, whether by design or by sheer incompetence.

During the Great Depression of the thirties, the artist and writer Percy Wyndham Lewis claimed the masses were “hypnotised into a sort of hysterical imbecility by the mesmeric methods of Advertisement”.

In fact, propaganda, however ubiquitous and ingenious, cannot brainwash an entire people. Most individuals remained free in their heads. "But there is no doubt that propaganda was highly influential, particularly when projected on to a screen or over the airwaves, at a time when minds as well as bodies were being battered by the economic blizzard.....

Where it did not convince, it confused. It muddied the wells of knowledge and polluted the sources of understanding. It sanctioned the suspension of belief and disbelief. Propaganda helped to make the 1930s an age of obfuscation, of darkness at noon. "

This is exactly what happened to Lepep Admirab when Roshi Bhadain, Vishnu Lutchmeenaraidoo and the gang of thieves commandeered our MBC and with the help of some corrupt zourlanus, managed to convince a large number of Mauritians about a Ponzi that never was.

And Judge Domah will bring disgrace to his profession and his own sense of integrity and fairness if he does not ask Dawood Rawat to depone before his commission of inquiry. That is, if he really wants to know the truth....

Rédigé par Paul Lismore le Mardi 11 Septembre 2018

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