The investigation by the Financial Crimes Commission (FCC) into the petroleum products supply contract awarded in 2023 by the State Trading Corporation (STC) to the Singaporean company Mercantile & Maritime Investments Pte Ltd, a subsidiary of Mercantile & Maritime Group (MMG), is experiencing new developments with the arrest of two former ministers from the previous government.
This contract, relating to the supply of gasoline, diesel and Jet A1 fuel for the period from August 1, 2023 to July 31, 2024, represents an amount of approximately 691 million US dollars, or nearly Rs 32.6 billion at today's exchange rate.
The STC launched an international call for tenders on May 5, 2023 for the supply of “white oils”. Seven companies responded, and OQ Trading Ltd was selected as “lowest bidder” by the STC board of directors on June 7, 2023. The procedure was, however, canceled immediately, paving the way for the award of the contract to MMG – a company which had not participated in the initial call for tenders. The authorities at the time had justified this change of heart by conditions deemed more advantageous: a lower premium, payment facilities and settlement in Mauritian rupees rather than in American dollars, a mechanism presented as a means of reducing pressure on the country's foreign currency reserves.
The FCC nevertheless suspects serious irregularities in this process. Investigators are examining the circumstances leading to the cancellation of the initial call for tenders, the payment mechanism chosen, the criteria governing the choice of MMG, as well as the possible relationships between certain decision-makers and representatives of the company.
Several arrests have already been made. On June 13, 2025, former STC Director General Rajiv Servansingh was arrested on a provisional charge of Public Official Using Office for Gratification, under the Prevention of Corruption Act. He is accused of having taken illegal measures to favor the award of the contract to MMG, before being released on bail after his appearance before the Rose-Hill court. Kareena Neisius, local representative of MMG, was arrested on April 28, 2025 for conspiracy to commit money laundering.
The investigation, opened in 2025, also focuses on the role of certain financial institutions involved in transactions linked to this strategic contract.
For its part, MMG denounces a “politically motivated” procedure and maintains that its contract allowed Mauritius to make substantial savings on its oil imports.
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