Africa-Press – Mauritius. The trust and reputation which our country now enjoys, particularly since we ticked FATF’s 40 Recommendations, positions Mauritius among the best performers in its league.
This statement was made by the Minister of Financial Services and Good Governance, Mr Mahen Kumar Seeruttun, yesterday, at the celebrations of the 30th anniversary of IQ-EQ Mauritius, in Port Louis.
In his address, the Minister emphasised that challenges helped build our resilience in responding to an increasingly liberalised market landscape, intense competition, rising international standards and regulations, economic downturn, the Financial Action Task Force (FATF) and European Union listings and, to crown it all, a global sanitary crisis.
Furthermore, Mr Seeruttun indicated that the industry has demonstrated strong resilience in the face of the crisis with a growth rate of 4.2 percent last year and 12 percent contribution to Gross Domestic Product.
“We will keep building on this momentum and it is my wish and commitment that Government and the private sector pursue their coordinated efforts to enhance the resilience and sustainability of our economy,” he declared.
In addition to traditional markets, growth is now coming more from and towards Africa, the Minister stated. “The wave of opportunity rising with Africa is exciting and we have to continue to pursue efforts to raise our standing as an important economic hotspot for Africa,” he highlighted.
The Minister underscored that as the Mauritius IFC becomes more mature and robust, our aspirations for the Centre will accordingly be more ambitious now that it has become home to strong international players.
According to Mr Seeruttun, the 30 years of Mauritius IFC is not only a milestone to be celebrated but also an opportunity to look back with pride at the path journeyed so far.
In this context, a series of events to commemorate the 30 years of the Mauritius IFC will be organised by the Ministry of Financial Services and Good Governance.
Moreover, he pointed out that 30 years is not long to develop and grow an international financial jurisdiction, and compared to other more established global financial centres, the Mauritius IFC is still young.
He recalled that the offshore sector and IQ-EQ Mauritius, the very first company to receive its license to operate in this sector, have together co-created a new economic growth drive and have stood by a declaration of trust and confidence for the future.
IQ-EQ, a leading global business and one of the largest investor services firms in Mauritius with over USD 150 billion of assets under administration, Minister Seeruttun outlined, is recognised as a leader in the region and well placed in the “Mauritius for Africa” strategy.
Moreover, the IQ-EQ has won ‘Best Fund Administrator: Private Equity Funds over $ 20 billion’ for the fourth consecutive year at the Africa Global Funds Service Providers Awards recognising the outstanding efforts and accomplishments of Fund Service Providers covering Africa, he indicated.
Mr Seeruttun underscored that the IQ-EQ holds a steady course in Mauritius and offers phenomenal prospects and international exposure to our youth. “I reiterate the commitment to support IQ-EQ so that it continues to deepen roots in Mauritius and broaden horizons globally using Mauritius as springboard, especially now that IQ-EQ Mauritius will be the Regional Headquarters for Africa and the Middle East,” he added.
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