Wednesday, June 7, 2017


The Deputy Registrar of Companies has written to the JJ Spirit Foundation to point out amongst other issues that the foundation has not submitted its audited accounts since 2013. The Deputy Registrar has only this year received Jj Spirit Foundation's audited account for 2008-2012.

Could this mean that the foundation (which is headed by a man who was none other the president of Seychelles from 2004- October 2016, when he quit barely one year into his third mandate); had not audited its accounts until the PL government lost its majority in the National Assembly and the LDS led 6th NA started to ask questions and investigate into various institutions?

Whatever the reasons are it does not bode well for JJ Spirit Foundation to have not submitted audited accounts before that as its patron should have known better. After all he was preaching transparency and accountability!

The Foundation is also the owner of the Espace building and there again serious questions have been raised. If the foundation is a not for profit organization how come it is advertising the Espace building as a commercial entity? Does the NGO pay taxes?

Another anomaly which one gleans from the letter the Office of Registrar of Companies wrote to JJ Spirit is the fact that the office bearers of the foundation are not listed. Isn't this illegal? Again is this what expects from an organization whose patron was the Head of State?

Var Management and JJ Spirit Foundation JJ Spirit Foundation calls itself an NGO and when it comes to charitable NGOS, one common factor is that they are always finding means of raising funds to carry out their charitable work. Normally an NGO which owns a building like JJ Spirit owns Espace, would have its own management team to ensure things are done properly and with a view towards cutting costs, it would not pay an outside firm to manage its building!

However, when it comes to JJ Spirit Foundation, the contrary seems to be the case. The so called NGO has contracted out the management of the ESPACE building to a company named VAR Management. The shocking part of this deal is that VAR Management is owned by Mr. David Savy, a company named Sirrus Management of which David Savy is the director and Basil Hoareau! Mr David Savy own Sirrus Management.

Espace building was funded in a large part through donations as well as other means. Since it calls itself an organization which does charitable activities for the betterment of the country and its youths, would it not have been proper practice to tender out the management of this building if there was a need for an external team to do this? Have the donors unwittingly funded a milking cow for close associates of PL? Why does Jj Spirit Foundation takes CSR contributions if it can afford to pay a management company?

According to its registration papers VAR Management is a company which can do almost anything from managing buildings to investing in other companies, from doing import and export as well as wholesale and retail and given its connections it could easily muscle out competitors in almost every field of economic activity in this country.

Source: Lavwa Lalyans