Stephen BLATT Group manager partner of Baker Platt

> Baker-Platt Boolell was launched last week. What is this company all about?

It is a unique joint venture that brings along the expertise of the British firm Baker-Platt in compliance consultancy and corporate governance and the know-how and knowledge of Banymandhub Boolell Chambers in the local market. We are offering a service that has never existed in Mauritius before: consultancy in compliance and governance and in-house training for companies. These training sessions can be conducted on a range of topics involving risk management and technical skills.

> Do you think that local companies are in line with rules of good governance at the moment?

I believe it is dangerous to generalise. I suppose some organisations do abide by such rules and others don?t. But, from my own point of view, progress has been made in the field though a lot still remains to be done. There is an acknowledgment that corporate governance should be implemented; we are now here to assist. It is important for Mauritius to demonstrate it has the willingness to play the game.

> What has prevented companies from implementing good governance so far?

Many companies know what they ?should? do but there is always a fear of putting oneself at a disadvantage. When you implement rules of good governance, you may take the risk of reducing your financial benefits at first. A certain moral fibre or at least a specific state of mind is needed for someone to understand that the long-term benefits brought by good governance will be highly beneficial to the company. Everywhere I go, my main concern is to establish the extent to which people pay lip service to these rules. I am not interested in talking the talk but we have to make sure people are walking the walk. The mindset here seems to be that, even though the system might be right, people are afraid of losing something if they adopt it.

> What will be your method of encouraging people to adopt these principles?

We will show them the benefits for their own companies as well as for the country at large. Corporate social responsibility means that you will not only attain growth but that this growth will be sustainable for your business and for the country. When investors are made aware that Mauritian companies abide by the rules of good governance, they will show more interest in investing here. Do you think offshore companies would be interested in your country if there had been a big scandal recently? I don?t think so. To attract foreign investors, you have to demonstrate that you can offer a safe environment and sustainable profitability.

> And do you think that Mauritians are ready to implement those rules and take such risks?

They are not only ready for it ? they are grateful. The joint venture was a market-driven initiative, as Banymandhub Boolell Chambers wanted to deal with their clients? worries and concerns. We have already received a certain number of requests from companies and we are sure that others will follow.

> Minister Sithanen attended the launch of the joint venture last week. Do you expect support from the government?

This business is perfectly in line with measures contained in the budget and the minister appeared happy to see such an initiative. We hope it will boost foreign investment but we expect no direct support. If the service provided is in line with what the government wants for the future of Mauritius, so much the better.