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August 2014 - Competitiveness, Entrepreneurship & Growth

Dear Valued Investors,

We start this newsletter with a very positive piece of news regarding the competitiveness of Mauritius.

In the Global Competitiveness Index 2014–2015 Rankings released today 3rd September by the World Economic Forum, Mauritius comes out first in Africa for the second year, ahead of the Republic of South Africa (56th), Rwanda (62nd), Botswana (74th) and Zambia (96th). In fact, Mauritius is among the forty most competitive countries in the world. The country has gained six places compared to its previous position. It now occupies the 39th place worldwide.

The GCI Index 2014–2015, which ranks 144 economies, measures overall national competitiveness in relation to data collected around twelve pillars, namely institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.

Institutional strength, structural reforms, policies, innovation and talent development are among the factors that help countries address competitiveness challenges and determine their level of performance and prosperity. According to this Global Competitiveness Report, the world’s most competitive economies are characterized by their “track record in developing, accessing and utilising available talent, as well as in making investments that boost innovation”. The report highlights that a healthy partnership between the public and private sectors contributes to make targeted investments that impact sustainable and inclusive development.

In this context of competitiveness and development, it is an established fact that entrepreneurs are agents of change through the successful materialization of innovative projects, the development of new products and services, the implementation of more efficient production methods, and the creation of new business models.

Therefore, fulfilling its role as facilitator, BOI will continue to give its full support to start-ups. In this edition, we are pleased to share with you the success of two entrepreneurs.

Foods Worth Ltd is a company that has been set up to give strategic orientation to the sector of food processing. The project has necessitated an investment of some Rs 17 million in a modern factory. It employs 20 people with a projection of increasing its work force by 25% by the end of this year so as to meet the demands of its expanding market which presently comprises buyers from Germany, France, England, and Reunion Island.

Secondly, you will be introduced to the founder of Mobi Move Ltd, a start-up company involved in the development of tailor-made mobile applications for the UK market. Jonathan Siao has partnered with digital agencies in UK to develop applications for prestigious brands like ITV UK, Mercedes, Peugeot, Dunhill, Dolce & Gabbana and United Coffee. Someone who had no particular passion for Mathematics but whose motivation is to find practical solutions for challenges has created an enterprise which today employs 11 young people.

We are equally pleased to announce the 4th annual edition of Private Equity Mauritius conference, scheduled on 25th and 26th of this month in Mauritius. Themed “Capitalsing Africa’s Growth”, the conference aims at reaffirming our position as a trusted and proven financial centre for private equity transactions in Africa and the region. This year, the conference will have a special focus on the strategy of Development Finance Institutions (DFIs) and Sovereign Wealth Funds for Africa as well as the increasingly important role of private equity funds in socioeconomic development and their impact on investment across the continent. We will welcome eminent speakers including Dr Martyn Davies, Terry Smith and Nainesh Jaisingh as well as CEOs of leading private equity funds and foundations active in Africa.

In this issue we also present investment prospects in Mozambique along with an account of the positive outcome of the US-Africa Leaders Summit held on 4th and 5th August in Washington.

We look forward to welcoming you at the Private Equity Mauritius Conference and reiterate our determination to give you all possible assistance for the materialization of your investment projects.

Ken Poonoosamy
Managing Director

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