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Composition of the Monetary Policy Committee

Dr Rama Krishna SITHANEN G.C.S.K - Governor and Chairperson

Dr Rama Krishna Sithanen was appointed Governor of the Bank of Mauritius with effect from the 16th of November 2024 for a three-year term. He was also appointed Chairperson of the Financial Services Commission, Mauritius, on the 11th of December 2024.

Dr Sithanen is an economist by training and profession. His professional career of around 46 years is split among public sector, private sector and international consultancy and advisory work.

He has acquired strong leadership skills and wide-ranging experience in the public sector and as a professional economist holding senior positions in the private sector. He has significant experience in policy making, operations and advisory work in economics, finance, global business and the financial services sector both in Mauritius and in Africa.  He has acted as an international consultant, working in Africa and the Indian Ocean, advising Governments and public sector bodies on economic and fiscal policies.

Dr Sithanen was Minister of Finance between 1991 and 1995. He was instrumental in shaping policies to diversify the economy and laid the foundation for the emergence of Mauritius as an international financial centre. 

He was Vice Prime Minister and Minister of Finance between 2005 and 2010. He introduced bold institutional, policy and fiscal reforms that turned around the economy and moved Mauritius from dependence on trade preferences to global competitiveness. He also implemented meaningful economic and financial measures to protect the Mauritian economy from the adverse impact of the great recession of 2008.

He worked as Director of Strategy at the African Development Bank in Tunis, Tunisia, in 2011. Between 2011 and 2016, he was Chairperson and Director of International Financial Services, one of the largest management companies in Mauritius, engaged in providing fund administration and corporate services for capital market and private equity/venture capital funds to global corporates and institutions.

Between 2017 and 2022, Dr Sithanen was Chairperson and Director of Sanne Mauritius, a large management company that provides fund administration and corporate services to international corporates and institutions. From 2023 to the 15th of November 2024, he was the Independent Chairperson and Director of the Apex Group of companies in Mauritius. Apex Group is the leading provider of global businesses in Mauritius.

He has acted as adviser to some countries in Africa and the Indian Ocean. He was Chairperson of the Rwanda Development Board, the economic development arm of the Government of Rwanda, between 2013 and 2017. He was adviser to the Government of Rwanda and tax, competitiveness and financial services issues between 2013 and 2015. He was equally Board Director on some companies.

Dr Sithanen was chosen by the Switzerland-based World Economic Forum in 1994, as one of the 100 Global Leaders for Tomorrow for contribution in both the public and the private sectors at the age of 40.

In 2009, he was bestowed with the title of Grand Commander of the Star and Key (G.C.S.K.), the highest mark of distinction of the Republic of Mauritius, for his contribution in the economic and political fields.

Dr Sithanen holds a BSc Economics (with First Class Honours) and an MSc Economics (with a Mark of Distinction) from the London School of Economics and Political Science. He also has a PhD in Political Science from Brunel University, London, UK.

Mr Rajeev HASNAH - First Deputy Governor

Mr Rajeev Hasnah was appointed, with effect from the 2nd of December 2024, First Deputy Governor of the Bank of Mauritius by His Excellency, the President of the Republic of Mauritius upon the recommendation of the Prime Minister.  Mr Hasnah is the Chairperson of the Board of Directors of the Mauritius Investment Corporation Ltd. He also sits on the Monetary Policy Committee.

Mr Hasnah started his career as an Economist in the City, London, where he worked at IDEAglobal, an independent economic research firm, advising traders and investment managers.

Throughout his career, Mr Hasnah has demonstrated a commitment to excellence and innovation, whilst also showcasing his competence on the front of regional diplomacy and public administration. During his tenure as Deputy Executive Director and Chief Economist at the Competition Commission of Mauritius, and as Commissioner at the COMESA Competition Commission, he oversaw investigations in mergers and acquisitions, abuse of dominance and cartel cases.  He also contributed to policy development and Competition Law enforcement at the highest level both in Mauritius and across the COMESA region.

Mr Hasnah’s career history also includes strategic roles in the private sector in Mauritius.  As a Chief Finance Officer in different corporate entities listed on the Stock Exchange of Mauritius, he, in particular, spearheaded critical restructuring and investment initiatives.

Mr Hasnah also provided expert advice on competition economics and corporate finance as an independent consultant.

Mr Hasnah’s early career roles as an economist and a Chartered Financial Analyst within the investment management and corporate finance fields equipped him with a solid foundation in financial and economic analysis, as well as investment management and strategic planning expertise.  He stands as a distinguished economist and finance professional with a robust academic background and proven track record in both business and public administration.  

Mr Hasnah is a thought leader in Mauritius in the field of economics and finance.  His views as a trusted expert are widely sought after by leading economic journalists, and he has featured in numerous articles and interviews in both print and broadcast media.

A Charterholder from the CFA Institute, Mr Hasnah also holds an MSc in Economics and Finance from Warwick Business School, United Kingdom, and a BSc (Hons.) in Economics and Finance from the University of Mauritius, where he was a gold medallist and awarded multiple scholarships.

Mr Gérard SANSPEUR - Second Deputy Governor

Mr Gérard Sanspeur was appointed, with effect from the 2nd of December 2024, Second Deputy Governor of the Bank of Mauritius by His Excellency the President of the Republic upon the recommendation of the Prime Minister. Mr Sanspeur also sits on the Monetary Policy Committee and is a member of the Board of Directors of the Mauritius Investment Corporation Ltd.

A seasoned professional with over 25 years of experience in providing strategic leadership in investment, regional trade, and economic development, Mr Sanspeur has held top positions in both the public and private sectors, in Mauritius and the African region.

Mr Sanspeur has a proven track record of advising African governments on innovative development projects, participating in the planning and materialization of the first Cybercity, and working on national budget preparations. He has served as Senior Adviser to the Prime Minister of Mauritius, Chairman of the Mauritius Investment Promotion Agency, Deputy Secretary General of the Mauritius Chamber of Commerce and Industry, and Director General of the Mauritius Freeport Authority.

Throughout his career, Mr Sanspeur has achieved significant milestones including the development and implementation of policies to enhance the investment climate, the setting up Special Economic Zones with world-class business systems and removing obstacles to intra-state trade. He has been instrumental in transforming the Board of Investment, the country’s promotion entity, into an agent of change, positioning Mauritius as a preferred investment location, and developing new concepts in the tourism sector to achieve profitability and competitive advantage.

Mr Sanspeur has also acted as Senior Non-Resident Advisor to the Government of Mozambique. He has equally been actively involved in recent assignments such as organizing the first South Sudan Investment Conference, drafting the Investment Code for Madagascar, and developing Special Economic Zones in Uganda and Botswana.

Mr Sanspeur has an extensive experience in the field of finance and investment. He was the CEO of the Association of Trusts and Management Companies, CEO of the Global Institutional Investors Forum, Board Director and executive member of the Investment Appraisal Committee of HIREF International LLC, Director of the private equity real estate firm Redfort, and Managing Director of Currimjee Jeewanjee Investments Ltd. He has also held leadership positions in various consultancy firms, including Enova Consult Ltd, where he provided consultancy services for Free Trade Zones and Special Economic Zones.

Mr Sanspeur is an alumnus of the University of Aix-Marseille, France, from which he holds a BSC in Economics with a specialization in International Trade and Finance, a Post-Graduate Degree in Economics and International Finance, and a Master's Degree in Economics with specialization in Development Economics.

Ms Sharmila BANYMADHUB-CHAKOWA

Ms Banymadhub-Chakowa is a Finance professional with more than 32 years’ experience in various sectors of economic activity including the Financial Services sector.  She currently acts as an Independent Non-Executive Director in several entities in Mauritius.

She is a Fellow member of the Association of the Chartered Certified Accountant, member of the Mauritius Institute of Professional Accountants and a Fellow of the Mauritius Institute of Directors.

Dr Jameel Ahmed KHADAROO

Dr Khadaroo is an experienced international consultant and the Founder CEO of OptiFin Solutions Ltd.  He reckons more than twenty years of experience as an economist specialising in econometrics, with prior experience as an Associate Professor at the University of Mauritius.  He has also served as the Member of the MPC during his tenure as the Second Deputy Governor of the Bank of Mauritius from February 2007 to February 2010.

He holds a Bachelor of Economics from Macquarie University, Australia and an MSc in Economics and Econometrics from the University of Bristol, United Kingdom. He holds a PhD in Applied Econometrics from the University of Bristol.

Ms Martine IP

Ms. Ip is currently an Audit and Assurance Partner at Kemp Chatteris. She has also served as an Independent Director and Chairperson of Audit Committees of several entities.

She holds a BSc (Hons) in Economics from the London School of Economics and Political Science and is a Fellow Member of the Institute of Chartered Accountants in England & Wales.

Dr Myriam BLIN

Dr Blin is the Head of the Faculty of Accounting, Finance and Law at Charles Telfair Education - Curtin Mauritius since August 2022.  She has more than 20 years of experience as an academic in the field of development and international economics both in Mauritius and abroad.

She holds a Bachelor’s degree and a post-graduate degree from Université Aix-Marseille II in International Economics.  She also has a MA Development Economics and a PhD in Economics from the University of Manchester.

Dr Jeevita MATADEEN

Dr Matadeen is currently Senior Lecturer at the University of Mauritius and has more than 10 years of experience in the field of Finance as an academic.

She holds a BSc (Hons) in Mathematics, and a Ph.D. in Finance from the University of Mauritius. Dr Matadeen is also a Chartered Financial Analyst.