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September 2013: Connecting Global Investors with African Opportunities

Dear Valued Investors,

Our strategy aimed at enhancing the position of Mauritius as the preferred business and investment hub for Africa is now in high gear. Key events were organized at home and new initiatives have been led by BOI abroad.

We have just emerged from one of our most hectic months. September has truly been a climactic period with the organisation of our third edition of the Private Equity Mauritius Conference held on 12th and 13th September.

The conference saw the participation of over 300 delegates. More than 140 foreign participants flew in from nearly 30 different countries. They have taken stock of the opportunities that Africa currently offers and they have engaged reflection on how best, by using its first mover advantage, Mauritius can accompany them in the extension of their footprint across the continent to connect with potential partners and prospects.

Feedback from the financial sector at large has been very positive. Commitment to launch out is palpable. In fact, we are encouraged by various testimonies, namely from leading financial institutions. This annual conference, now in its third year, is developing into a brand and a reference. This is partly reflected by the growth in foreign delegation which averages a 30% increase in attendance year on year.

The conference has not only proved to be an essential platform to connect global investors with regional investment opportunities, but it has equally been instrumental in attracting leading global funds, investment houses and advisors from Asia and Middle East to consider establishing substance locally through the establishment of fully-fledged offices.

In the wake of that crucial two-day meeting, BOI led the third edition of the Mauritius Africa Trade and Investment Forum (MATIF) to Nigeria and Ghana, having enlisted the participation of around thirty Mauritian companies from various sectors of the industry. This initiative is in line with BOI’s strategy to promote outward investment in the region. It has paid off. Key contacts have been made and investment decisions taken by participating companies.

Furthermore, our endeavour to further attract global mining companies looking at Africa to consider structuring their investment and raising capital in Mauritius has equally been high on our agenda. To this end, BOI participated in the 10th edition of the “Africa Downunder Conference” in Perth, at the head of a very strong participation of the private sector.

Regarding global competitiveness, we have been gratified by the publication of the 2013-14 Global Competitiveness Report. Mauritius has edged its way up by 9 places to be among the 50 most competitive countries globally. Indeed, for the first time, Mauritius is first in the Sub-Saharan region, outperforming South Africa.

Our performance regarding FDI influx is relatively encouraging. Without counting reinvestment in ongoing projects, FDI totaled MUR 4.7 billion for the first half of the year.

Last but not least, the International Advisory Board of BOI met under the chairmanship of Honourable Charles Xavier-Luc Duval, GCSK, Vice Prime Minister, Minister of Finance and Economic Development on 30th September to reflect on the key sectors and strategies that can be game changers for Mauritius and help graduate the country to a high-income economy. Discussions centered on enhancing connectivity as well as leveraging the development of new sectors.

Global investors are increasingly looking at using Mauritius as their first partner for investing in Africa. We, therefore, look forward to advising and facilitating your ventures across Africa.

Ken Poonoosamy
Managing Director