AfricaMoney spoke to Rundheersing Bheenick, Governor, Bank of Mauritius (BOM) on how the island economy’s banking sector has emerged largely unscathed from the global financial crisis. With characteristic dry humour, our financial expert took us though the journey of the banking sector amid turbulent times such as the Ponzi scheme which broke in March 2013 and forced a re-look at the powers of the central bank. Insisting that effective intermediation
Even as emerging Asian economies like India and China are banking on their youth to retain their competitive edge, Mauritius appears to be laboring under the burden of an ageing population. In fact, by 2052, the proportion of people aged 60 and above in the population is projected to be 30.2%, around a third of the total populace. According to the latest data for 2012 released by the Ministry of
Après un palace de Hong-Kong l’année dernière, c’est dans un cinq-étoiles du sud de l’île qu’une centaine de cadres indiens d’Aditya Birla Finance (ABFL) sont venus célébrer les réussites de l’année écoulée. Arrivés hier matin, les cadres et dirigeants du groupe financier reprendront l’avion vers l’Inde ce mardi après quelques jours de repos bien mérités. Hier soir, c’est lors d’une Awards Ceremony que les meilleurs d’entre eux ont été récompensés.
Ce n’est pas « un partenariat stratégique » insiste Dass Thomas, le président du Conseil d’administration d’Air Mauritius. Le Président directeur général d’Air France KLM, Alexandre de Juniac préfère lui parler de « partenariat industriel. » Qu’importe les mots, l’accord signé aujourd’hui entre les deux lignes aériennes prévoit le maintien des « code share » entre les deux entreprises jusqu’à sur 16 vols Plaisance-Paris par semaine ainsi qu’un rayonnement d’Air Mauritius sur toute l’Europe et même
In a growing recognition of the emerging continent as one of the most dynamic and fast-growing regions across the globe, African leaders from 47 nations have been invited to Washington on August 5 and 6, 2014 for the first US-Africa Leaders Summit. A press release from the White House stated that the US President looks forward to welcoming leaders from across the African continent to the US capital to further
The island economy welcomed a delegation from the International Monetary Fund (IMF) to undertake the 2014 version of Article IV on Mauritius’ economic status. Martin Petri and his team from IMF are visiting Mauritius to discuss the island economy with the Mauritian authorities and these discussions are expected to conclude by the end of the month. The report itself is likely to be finalized and published in two months. The
The Africa strategy of Mauritius appears to be paying off, with firms based out of South Africa and Zimbabwe showing increasing interest in tapping into opportunities offered by the island economy. Mauritius has established its reputation as an international financial centre since the early 1990s. In 2013, for the fifth year in a row, Mauritius was ranked as the easiest place for doing business in Sub-Saharan Africa, becoming a favoured
C’est autour d’une partie de Tetris géant, jouée sur la façade de son nouveau bâtiment à Ebène, que l’entreprise IT Solvz a inauguré ses locaux hier soir. L’entreprise spécialisée dans la location-maintenance de produits informatiques et technologiques avait placé la soirée sous le signe du Nouvel An chinois, qui sera célébré le vendredi 31 janvier prochain.
The Mauritian banking industry is expected to face difficulties in domestic growth with an increasing number of players in an already highly competitive market, said a report. As two main banks control 57% of total bank assets, there is strong competition in order to increase or maintain market share domestically, noted the report by Anglo-Mauritius Stockbrokers on the banking industry in Mauritius. Moreover, investment, which is of particular concern to
Mauritius taxpayers can expect to settle taxes more conveniently as not only has Form 1A been amended to let employees with other source of revenues declare them easily, but taxpayers can also use credit cards to make tax payments, starting March. Sudhamo Lal, director of the Mauritius Revenue Authority, pointed out during a press conference yesterday that some Mauritians, for instance teachers, have other source of revenue such as private