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Board of Directors

Board of Directors



Mr Somduth Nemchand is currently Deputy Permanent Secretary at the Ministry of Financial Services, Good Governance and Institutional Reforms. Prior to that, he was posted at the Ministry of Energy and Public Utilities where his scope of services included advising the Minister in relation to parliamentary business, policy formulation, oversight of institutions under the aegis of the Ministry, financial management and human resource management.

Mr Nemchand has also been a board member of different statutory bodies. He has extensive experience in administration and finance. He formerly held important positions such as Administrative and Finance Manager and Acting Director General at the Independent Commission Against Corruption (ICAC).

Mr Nemchand is a holder of Brevet International D’Administration Publique from Ecole D’Administration (ENA), France.

Board of Directors

BSc (Hons), FIA

Mrs Karuna Bhoojedhur-Obeegadoo is currently the Group Chief Executive Officer heading the SICOM Group of Companies. She joined SICOM in 1984 and was in charge of the Life, Pensions and Actuarial Departments of the Company. Prior to joining SICOM, she worked with a major international reinsurance company in London.

She is a Director on the Board of subsidiaries of the Group. In the past, she has also been a Director in several companies where SICOM is a shareholder.

Mrs Bhoojedhur-Obeegadoo holds a BSc (Hons) in Actuarial Science from the London School of Economics and Political Science and is a Fellow of the Institute of Actuaries, UK.


Mr Awadhkoomarsing BALLUCK

Mr Awadhkoomarsing Balluck had a long career in the Public Service. He was the Registrar of Associations, which operates under the aegis of the Ministry of Labour, Industrial Relations and Employment. Prior to that, he was Inspector of Associations, Senior Inspector of Associations, Principal Inspector of Associations and Deputy Registrar of Associations at the same Ministry. 

Mr Balluck has also served as Customs and Excise Officer, Customs and Excise Department performing enforcement duties. He is involved in Trade Union, Socio Cultural and Co-operatives activities. Mr Balluck has been successively a Board Member, Vice-Chairman and Chairman of the Board of Directors of the Mauritius Civil Service Mutual Aid Association Ltd from 1995 to 2012. He has also occupied the Chairmanship of the Building Committee and has been throughout, a member of the Finance Committee of the Organisation. 

Mr Balluck holds a Diploma in Human Resource Management from University of Mauritius.


Mr Chettandeo BHUGUN


Mr Bojrazsingh BOYRAMBOLI

Mr Bojrazsingh BOYRAMBOLI is currently the Permanent Secretary at the Ministry of Social Security and National Solidarity, Environment and Sustainable Development. Prior to that, he was posted at the Ministry of Social Integration and Economic Empowerment and was also member of the National CSR Committee and National Empowerment Foundation.

Mr Boyramboli has a long career in the public service and has served different Ministries. Mr Boyramboli is the representative of the NPF/NSF on the Board of Directors of Cyber Properties Investment Ltd and Mauritius Housing Company Ltd.

Mr Boyramboli holds a Diploma in Public Administration and Management.


Mr Chandrek DUSSOYE
BSc (Hons), ACCA

Mr Chandrek (Nitin) Dussoye currently works as Investment Executive at the State Investment Corporation Limited where he is involved in portfolio and investment management. Mr Dussoye has been working in the financial sector since 2000 as Business and Financial Consultant and Financial Analyst. He also has extensive exposure to private equity financing.

Mr Dussoye is an Affiliate of Association of Chartered Certified Accountants since 2005 and holds a BSc (Hons) in Business Management from University of Mauritius.


Mr Kee Chong LI KWONG WING (G.O.S.K)

Mr. Kee Chong LI KWONG WING (K.C.LI), Economist, is holder of a B.Sc. (Econ) from the London School of Economics and LLM in International Tax Law. He started his professional career in 1974 as a Lecturer in Public Finance at the University of Mauritius.

Afterwards, he held different prominent positions including Advisor to the Minister of Finance and Chairman of the Stock Exchange Commission. He launched the first Unit Trust and the first Property Fund in Mauritius in 1989.

K.C.LI was also Board member of the State Trading Corporation, the National Remuneration Board, the National Economic and Social Council and the University of Mauritius. K.C.LI was an external lecturer for the University of Surrey School of Management (UK) and has published numerous reports and articles on cooperative banking, project management, development finance, structural adjustment and fiscal planning issues.

In 1992, Mr. Li started his own private consulting firm and served as Consultant to the United Nations Economic Commission for Africa (UNECA) and the U.N. Industrial Development Organization (UNIDO).

In 1993, he founded the Mauritius International Trust Co. Ltd (MITCO), one of the first professional firms licensed to provide international tax and investment advisory services in Mauritius. He was also a Member of the Parliament of Mauritius (2010-2014) and sat on the Public Accounts Committee. He sits on the Board of Directors of several emerging markets funds and Asia Hedge Funds, including Infrastructure and Real Estate Funds in Africa & Asia.

Mr K.C Li was awarded the national honour of ‘Grand Officer of the Star and Key’ (GOSK) of the Indian Ocean by the Republic of Mauritius in 2015 for distinguished services in the economic, social and political fields.

He is currently the independent non-executive Chairman of SBM (State Bank of Mauritius) Group, the 2nd largest banking group in Mauritius and a public listed company.


Designated ‘Man of the Year 2008’ by “Le Defi Media Group, Dr. Rajun Jugurnath is presently the CEO of Sugar Insurance Fund Board. Prior to that, he was the Officer-in-Charge of the Public Sector Efficiency Bureau, Ministry of Financial Services, Good Governance and Institutional Reforms. In June 2002, Dr. Rajun Jugurnath was appointed Director of Audit, at the National Audit Office where he retired after a career extending over 40 years in the civil service.

Dr Jugurnath is a Fellow of ACCA, is the holder of a PhD, an MBA, and a Certificate in Company Directorship from the Institute of Directors of New Zealand.  In 1991 he was appointed Director of Management Audit Bureau, Ministry of Finance where he stayed in post, for 11 years.    

Dr Jugurnath served as Council Member of ACCA in London, for six years, President of ACCA Mauritius for 3 consecutive years and represented Mauritius on the Executive Board of Eastern, Central and Southern African Federation of Accountants (ECSAFA). He is also a member of the American Management Association (AMA), and member of All India Management Association (AIMA).


Mr Jugdish Dev PHOKEER

Mr Jugdish Dev Phokeer is the Permanent Secretary of the Ministry of Financial Services, Good Governance & Institutional Reforms. Prior to that, he was the Permanent Secretary of the Ministry of Technology, Communication and Innovation, Ministry of Youth and Sports, Ministry of Public Infrastructure, Land and Transport, National Development Unit, Ministry of Arts and Culture, Ministry of Health and Quality of Life, Ministry of Industry, Small & Medium Enterprises and the Ministry of Commerce & Co-operatives Division.

Mr Phokeer has been Administrator at the Office of the President of the Republic and has also served different Ministries in various capacities. He has also served on different Boards and Committees either as Director or Chairperson.

Mr Phokeer holds a Diploma in Public Administration & Management, a B.Com (Hons) and an MBA.


Mrs Nandita RAMDEWAR
FCCA, MBA (Finance)

Mrs Nandita Ramdewar joined SICOM in 1992 after having worked in a leading audit firm and has served the SICOM Group in various capacities.

She is currently the Chief Finance Officer and is in charge of the Finance, Corporate and Legal Departments. She is an Executive Director of SICOM and of some of the subsidiaries of the Group. She has also been a Director in several companies where SICOM is a shareholder.

Mrs Ramdewar is a Fellow of the Association of Chartered Certified Accountants and holds a Masters in Business Administration, with specialisation in Finance, from Manchester Business School.



(Alternate Director to Mr Bojrazsingh Boyramboli)

Mr Veenay Rambarassah, currently holds the post of Lead Analyst at the Ministry of Finance and has recently been assigned the post of Director Investment and Asset Management of the National Pensions Fund has been managing the Fund since April 2006.

Before joining the Fund, he has served in the capacity of Accountant at the Business Parks of Mauritius Ltd to help in the implementation of the Cybercity and Cybertower (2002-2004), and thereafter was assigned duties at the Customs Department to help in the investigation team.

Mr Rambarassah manages the National Pensions Fund, and the National Savings Fund. The total assets under his management is around Rs 130 Billion. He also sits in the Board of National Investment Trust and Port Louis Fund.

Mr Rambarassah is a Fellow of the Association of Chartered Certified Accountant and holds a Masters in Finance and Investment.

Company Secretary

Mrs Theresa M. LEE SHING PO

Theresa Lee Shing Po joined SICOM in 2000, with experience gathered from working in a leading audit firm, at the Attorney General's Office and as Independent Practitioner.

She is presently the Senior Executive Officer - Legal & Corporate and heads the Legal Department. She acts as Company Secretary to the State Insurance Company of Mauritius Ltd, SICOM General Insurance Ltd, SICOM Financial Services Ltd and SICOM Registry and Secretarial Services Ltd. She also acts as Alternate Money Laundering Officer.

Theresa was admitted as Attorney-at-Law in 1986.