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Tag: Mauritius

  • Experts: how to leverage Mauritius for cross-border growth

    Experts: how to leverage Mauritius for cross-border growth

    • Babalakin & Co. hosts roundtable

    How Nigerian businesses can access global capital was the subject of a roundtable by Babalakin & Co in Lagos.

    The high-level breakfast meeting brought together leading entrepreneurs, investors and financial experts.

    They explored how Mauritius can serve as a hub for cross-border expansion and international financing.

    Tagged Finance Roundtable 1.0, its theme was: “Structuring for growth: Leveraging Mauritius for cross-border expansion and financing.”

    It was organised in partnership with Intercontinental Trust Limited (ITL).

    Speakers included Partner at Babalakin & Co., Mabel Okereke; Chief Representative Officer (Nigeria) of Mauritius Commercial Bank (MCB), Azeez Abiodun, and Executive Director of ITL, Kesaven Moothoosamy.

    Okereke said the forum was designed to help Nigerian businesses understand how best to access global capital.

    Read Also: Nigeria’s external reserves hit $42bn, highest since 2019

    “The goal is to bring international finance to our shores by equipping entrepreneurs with the structures they need to thrive across borders while remaining competitive locally,” she noted.

    Abiodun highlighted the advantages of using the Mauritian International Financial Centre as a platform for African businesses.

    ”Mauritius has become a bridge for connecting capital to opportunities in markets like Nigeria, with regulatory frameworks that support investors and protect assets,” he said.

    Moothoosamy added that Mauritius’s growing network of double taxation treaties and investment protection agreements made it attractive for structuring investments.

    “Fiduciary services, trusts and compliance mechanisms in Mauritius are built to lower risks and improve access to international partners,” he explained.

    Managing Partner, Mr. Wale Akoni, urged the business sector members present to take advantage of the opportunity to expand their business to the world. 

    Analysts say Mauritius is increasingly positioning itself as a regional gateway for investment into Africa, offering stable regulation, favourable treaties and an expanding financial services sector.

    For Nigerian companies seeking to raise foreign currency funding, protect investments and expand globally, the jurisdiction is becoming an important option.

    The roundtable, which drew a select audience of business leaders, is part of Babalakin & Co.’s broader efforts to foster knowledge sharing and create pathways for clients and Nigerian enterprises to tap into global finance.

  • Mauritius tops Africa in governance ranking index

    Mauritius tops Africa in governance ranking index

    Mauritius has been ranked the best-governed country in Africa in the 2025 Chandler Good Government Index (CGGI), followed by Rwanda and Botswana.

    The latest ranking, released on August 26 at a regional launch in Pretoria, shows that while Africa recorded the lowest average score globally, modest improvements were noted between 2024 and 2025.

    Speaking at the event, Director of Knowledge at the Chandler Institute of Governance, Mr. Dinesh Naidu, said African countries were making progress despite fiscal and institutional constraints. “As a region, Africa still has significant work to do in improving the quality of governance,” he said. “However, the recent progress recorded suggests an upward trajectory. Even in a challenging global environment, high-performing African countries are making governance advances that can inspire peers across the continent.”

    The Index, which measures government capabilities and effectiveness across 120 countries, placed Mauritius 51st globally, retaining its position as Africa’s best for the fifth year. Rwanda ranked 59th, Botswana 61st, Morocco 75th, and South Africa 77th. Rwanda emerged as the world’s best-performing low-income country, showing that effective governance does not depend solely on wealth. Botswana was commended for judicial digitalisation reforms, while Morocco improved on data transparency and digital infrastructure. South Africa, despite fiscal pressures, remained one of the continent’s stronger performers.

    Read Also: PwC: Nigeria ranks 18th out of 54 African countries in AI talent readiness

    Tanzania was highlighted as the most improved African country since the CGGI was first published in 2021. It moved from 82nd to 78th globally, driven by digital governance initiatives, administrative reforms, and the Digital Tanzania Project. The country also introduced a Data Protection Act to enhance digital security. Naidu noted that while “good government is built over decades,” the reforms seen in some African countries were important building blocks for long-term transformation.

    Despite some gains, Africa’s governance performance remains uneven. Only Tanzania and Rwanda improved their global rankings between 2021 and 2025. Financial stewardship remains a major concern, as rising debt burdens weigh heavily on many economies. However, the region’s youthful population – with 70 per cent under the age of 30 – was described as an opportunity for governments that can deliver jobs, education and inclusive growth.

    The CGGI assesses countries across seven pillars, including leadership, institutions, financial stewardship, and service delivery. According to Naidu, the Index is designed as a diagnostic tool to help governments identify weaknesses and learn from peers. “What is encouraging is the progress in areas such as strong institutions and digital governance,” he said. “These reforms show that even in a tough global environment, progress is possible.”

  • Mauritius, Liberia, in EU’s blacklist of tax havens

    Three major African countries have topped the list of non-cooperative tax jurisdiction in the world.

    It may be recalled that the European Union had last Wednesday published its first list of international tax havens, tagged: ‘named and shamed” 30 territories on list of international tax havens.

    EU Economic Affairs Commissioner Pierre Moscovici told a news conference that “we are today publishing the top 30 non-cooperative jurisdictions consisting of those countries or territories that feature on at least 10 member states’ blacklists.”

    The full list is: Andorra, Liechtenstein, Guernsey, Monaco, Mauritius, Liberia, Seychelles, Brunei, Hong Kong, Maldives, Cook Islands, Nauru, Niue, Marshall Islands, Vanuatu, Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Grenada, Montserrat, Panama, St Vincent and the Grenadines, St Kitts and Nevis, Turks and Caicos, US Virgin Islands.

    On the list were three African countries namely: Liberia, Mauritius and Seychelles. This current list follows a previous list released by the EU in December 2017 of so-called non-cooperative jurisdictions for tax purposes. Countries on the list are deemed by the EU not to meet its set criteria for transparency because they do not comply with international standards on the exchange of information, have harmful tax regimes which result in unfair tax competition and have not committed to implement the OECD’s Base Erosion and Profit Shifting (BEPS) minimum standards.

    Namibia was the only African country among the 17 countries listed in Annex 1, comprising of countries regarded by the EU as being non-cooperative.

    Botswana, Eswatini, Mauritius, Morocco and Seychelles were listed in Annex 2. i.e. countries which are cooperative and have undertaken to successfully deliver the commitments they have made to align with the EU criteria within a set period.

    Apparently worried about this development, The Nation learnt that the African Tax Administration Forum (ATAF) is reportedly in so in discussions with the EU about the listings. The ATAF Executive Secretary Logan Wort said: “ATAF has met with EU representatives and strongly rejected the EU listings which do not provide a fair picture as countries such as Namibia do not provide fertile grounds for tax avoidance. We informed them that the listings are bullying on the part of the EU.”

    Countries on the list could be subjected to a range of sanctions by EU members. These could include, amongst others, being deprived of development aid and being subjected to stricter reporting requirements for multinationals with activities in listed jurisdictions

  • Stockbroking firms, Mauritius firm mull partnership on ICT

    The Association of Stockbroking Houses of Nigeria (ASHON) and a leading Mauritius-based Information and Communications Technology (ICT) company,  Acoyvis Limited, have started discussions on a partnership that will enhance technology governance in the Nigerian stockbroking industry.

    Acoyvis Limited has proposed an international workshop for ASHON to address global best practices in technology governance and the need to enhance oversight functions of board members of stockbroking firms and bring them closer to the staff in the back office for harmonious operations.

    Specifically, Acovyis, adjudged as one of the leading companies in ICT training has proposed a comprehensive training programme for board members of stockbroking firms and back office staff in line with the global best practices in technology governance and oversight functions. If endorsed by ASHON, the proposed series of joint workshops will address a wide range of issues that will strengthen international competitiveness of its members.

    Addressing ASHON’s Executive members, Acoyvi’s Chief Executive Officer, Susanne Alfs, stressed the essence of continuous training of board members and back office staff to upscale their skills in view of frequent challenges in ICT architecture.

    She explained that disruptive trends in the ICT world have brought into fore the imperative of acquisition of latest skills in technology.

    “With technology invading even the remotest corner of our organizations, it is also moving up a few notches on a typical board agenda. But in the past, technology knowhow was not typically sought after in board members. That is why many boards today struggle to keep up,”  Alfs said.

    Responding, ASHON’s Chairman, Chief Patrick Ezeagu, described her presentation as a management change that every board must embrace.

    Ezeagu noted that the presentation has re-opened the on-going discussion on the fourth revolution and the need for every professional to be prepared for a change.

    “You have talked about the fourth revolution which is going to disrupt a lot of things in terms of how to do business. People are going to have fewer margins while many may lose jobs except they upscale their skills. Therefore, I believe that there would always be a place of collaboration for like minds, and I can tell you that the Council members shall deliberate on what have been said and arrive at a consensus on the areas to collaborate with Acoyvis,” Ezeagu said.

    He explained that stockbrokers in Nigeria were resilient as they operate in an environment characterized by market volatility, frequent changes in technology and high cost of its acquisition, unstable government policies and uncertainty in the economy following unguarded utterances of the political class, causing panic among investors.

  • ‘World must not forget Chibok, Dapchi girls’ parents’

    Former President of Mauritius, Prof. Ameenah Gurib-Fakim, on Thursday urged the world not to forget the parents of the yet to be released Chibok and Dapchi girls.

    Gurib-Fakim told our reporter in Lagos that she had a meeting with some parents of the yet to be released Chibok and Dapchi girls’ to share their experience and pains.

    The closed door meeting which was held at the Federal Palace Hotel, Victoria Island, was convened by the Chief Executive Officer (CEO) of the Murtala Muhammed Foundation (MMF), Mrs Aisha Muhammed-Oyebode.

    No fewer than 10 parents of the yet to be released girls were at the meeting which started at about 7.15 p.m on Wednesday.

    Recall that 105 of the 110 girls abducted by members of the outlawed Boko Haram group from the Government Girls Science and Technical College, Dapchi, in Yobe State on Feb. 19 have been released.

    Also, of the 276 girls abducted by members of the same group from the Government Secondary School, Chibok in Borno State on April 14, 2014, the government has been able to secure the release of many, but more than 100 are still missing.

    The mothers of the missing girls still remain expectant of the return of their girls.

    ”It was a real touching moment to be speaking with these mothers.

    ”The message I want to send to the world is that the world must not forget them.

    “They are suffering, they have lost relatives — some of them are in captivity and I’m sure they will get them back.

    ”So, let us all work together and help these girls come home safely to their families and be reunited with them once and for all.

    ”I have really enjoyed talking with them and If I can do something to take away their sufferings, I will do it, ” she said.

  • Former Mauritius President meets Chibok, Dapchi girls’ parents

    The Former President of Mauritius, Prof. Ameenah Gurib-Fakim, is meeting with some parents of the yet to be released Chibok and Dapchi girls’  in Lagos.

    The closed door meeting holding at the Federal Palace Hotel, Victoria Island, was convened by the Chief Executive Officer (CEO) of the Murtala Muhammed Foundation (MMF), Mrs Aisha Muhammed-Oyebode.

    At least 10 parents of the yet to be released girls were in the meeting which started at about 7.15 p.m.

    Gurib-Fakim is expected to deliver a keynote address at the 2018 Murtala Muhammed Foundation Women Forum on Thursday in Lagos.

    The theme of the forum is “Smart Economics: Empowering Women in a Changing World”. (NAN)

  • Kenya Airways commences flights to Mauritius

    Kenya Airways has increased its flight operations in Africa with four times weekly flight to Mauritius, as the airline seeks to re-establish itself in the aviation market following troubled times.

    Kenya Airways already has an existing code-share agreement on Air Mauritius three weekly flights to Nairobi. The new service complements the existing operations and allows both airlines to offer passengers daily service between Nairobi – Mauritius with a major beneficiary being the newly launched flights to New York.

    “We are very excited by this new opening that will allow daily connections between two of the most attractive countries in the region,” said the Group Managing Director and Chief Executive Officer of the airline, Sebastian Mikosz.

    “The direct flights will enable reliable and convenient connectivity and in doing so make Mauritius more accessible to our guests in their bid for economic exchange and particularly tourism,” he added.

    The route will be operated by an Embraer E190, with a configuration of 12 business class seats and 84 economy class seats. Direct operations will commence in June 2018.

  • Afreximbank’s DRs start bullish on Mauritius Stock Exchange

    Afreximbank’s DRs start bullish on Mauritius Stock Exchange

    Following the successful close of the private placement with subscription far in excess of the $100 million minimum, Depositary Receipts (DRs) of the African Export-Import Bank (Afreximbank) have  started trading on the Stock Exchange of Mauritius (SEM), with the Bank topping the list of issuers in terms of capital raised prior to a listing.

    As per regulation, 5,000 DRs were listed at an initial price of $4.30 per DR. On the first trading day, the DRs closed, up 2.3 per cent, at $4.40 per DR and a market capitalisation of more than $170 million.

    The listing of the Depositary Receipts represents a big first for Africa’s equity capital markets and marks the achievement of a unique initiative on which Afreximbank had been working with SBM Group, a leading Bank in the financial sector in Mauritius, as lead arranger and depositary of the DRs.

    In a ceremony marking the first day of trading of the DRs, Afreximbank President, Dr. Benedict Oramah, noted that by investing in the DRs, investors would immediately diversify their risks across the 46 economies of the bank’s African member states, with diverse opportunities, vibrancy and risk profiles, thereby protecting themselves from country and currency risks.

  • Areximbank named African Banker of the Year

    Areximbank named African Banker of the Year

     Dr Benedict Oramah, the President of African Export-Import Bank (Afreximbank), has been named African Banker of the Year at the African Banker Awards 2017 ceremony in India.

    A statement by Afreximbank in Lagos on Wednesday said that the award was presented on Tuesday at a ceremony on the sidelines of the Annual Meetings of African Development Bank.

    The bank said that the award was given to a banker who, through leadership and vision, had overseen strong financial performance within his or her organisation.

    “Such a banker would also have successfully guided that institution to new heights in the industry”.

    In his acceptance speech, Oramah, a Nigerian, said that he was able to win the award as a result of the dedicated work of the staff of Afreximbank.

    He said the staff had put in sustained efforts and made sacrifices to enable the bank continue performing in order to meet the challenges confronting Africa in the area of trade.

    Other nominees for the award included Segun Agbaje of GTB in Nigeria, Jeremy Awori of Barclays Bank in Kenya, Dr Charles Kimei of CRDB Bank in Tanzania, James Mwangi of Equity Bank in Kenya and Joshua Nyamweya Olgara of KCB in Kenya.

    Also at the ceremony, Guaranty Trust Bank of Nigeria was named African Bank of the Year, Rameswurlall Basant Roi, Governor of Central Bank of Mauritius, was named Central Bank Governor of the Year, while Rand Merchant Bank in South Africa was named Investment Bank of the Year.

    Other winners included Equity Bank of Kenya as the Best Retail Bank, MasterCard and Ecobank were named for Innovation in Banking.

    Waheed Olagunju of Bank of Industry in Nigeria was named African Banker Icon, while Amadou Ba, Minister of Finance of Senegal was named the Finance Minister of the Year.

    According to Afreximbank, the African Banker Awards were introduced to recognise reforms, rapid modernisation and expansion of banking and finance in Africa.

    “The awards reward the outstanding achievements of companies and individuals that have changed the perception of Africa’s potentials in domestic and international markets”.

     

  • Mauritius vows to scare Nigeria in Tunis

    Mauritius vows to scare Nigeria in Tunis

    Having denied Nigeria the opportunity to play in the final of the boys’ team event of the 2014 African Youth Games in Botswana, Mauritius is optimistic that they can repeat such feat when the 2017 ITTF African Junior Championships serve off in Tunis on April.
    The Mauritius national coach, Rajessen Desscann, the feat against Nigeria has given them more confidence in any competition.
    “Nigeria and Egypt are no doubt very strong teams and they are very difficult to beat. But with the victory over Nigeria at the 2014 Youth African Games in Botswana for the boys’ team to settle for silver, I think we have confidence to face any of these teams in any major competition. Our aim in Tunis is to make the podium in any of the team by winning at least a medal as we will be in Tunis with a strong team,” Rajessen Desscann said.
    “Nigeria, Egypt, Tunisia and Algeria are very strong teams but we will do our best against these teams. We hope we can pick one of the slots during the Youth Olympic Games qualifiers but we know it is going to be very difficult.”
    “I have been Mauritius national team tennis coach in the last 10 years and I am very with our results in the last few years. But we will try to do more and gets some new result and that is why we have been working hard as a team to achieve this in the next few years.”