Africa-Press – Mauritius. The prerequisite to tap into Africa with a view to bolster the sustainability and economy of Mauritius was the main focus of the speech of the Minister of Financial Services and Good Governance, Mr Mahen Kumar Seeruttun, on Friday 10 November 2023, at Hennessy Park Hotel in Ebène.
The Minister was attending the 10th Anniversary of the Mauritius Africa Business Club, a platform set up to encourage and enhance investments into the African continent by promoting and sharing market intelligence about Africa business framework.
The High Commissioner of the Republic of India, Mrs K. Nandini Singla, and the President of the Mauritius Africa Business Club, Mr L. Amédée Darga were present at the event.
On the occasion, the Mauritius Africa Business Club launched the paper linking the Comprehensive Economic Cooperation and Partnership Agreement (CEPCA) to the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA).
In his address, Minister Seeruttun spoke of Government’s commitment to further strengthen its ties with its African counterparts. “Together with the Economic Development Board, we shall focus our resources, financials and otherwise, to ensure Mauritius remains at the top table as far as investors choice is concerned,” he stated.
According to the Minister, there are three corridors for doing business in Africa. The first one is Mauritius’s global business with investments into Africa continuing to be structured out of the country.
The second corridor hinges on Mauritian corporates taking advantage of the opportunities represented by Africa while the third one is the Indian connection with its large companies working to mitigate their country risks by looking to diversify into Africa.
The Financial Services Minister, however, insisted on the necessity for proper risk assessment and high level of due diligence as the continent is made up of 54 markets with a diversity of cultures, and varying legal frameworks and tax rules.
He also emphasised the need for local professionals and management to be trained and ready for expatriations as this forms part of the critical success factors.
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