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Mauritius launches first Inter-Agency collaborative training for entrepreneurs

A two-month programme for entrepreneurs was launched yesterday in Coromandel at the initiative of the Small and Medium Enterprises Development Authority (SMEDA), the first of its kind to see all agencies for SMEs come together for a common agenda. Organised in collaboration with National Women Entrepreneur Council (NWEC) and the National Institute for Cooperative Entrepreneurship (NICE), this training aims to provide needs-based, innovative and tailor-made training to entrepreneurs that will

Air Mauritius follows 7-Step route to soar on service excellence

Air Mauritius is embarking on an ambitious review of its business model, the ‘7 Step Plan,’ in order to increase its profitability through service excellence. The airlines recently returned to profitability in the 9 months from April to December 2013 for the first time in three years, showing that it is on the right track with the new business model. The ‘7 Step Plan’ was introduced by the national airline

Business Parks of Mauritius to hold job fair from March 6

The annual Job Fair of the Business Parks of Mauritius Limited (BPML) will be held from the 6 to 8 March 2014 at the Conference Room, Cyber Tower 1, Ebene. For this sixth edition, students and job seekers will be able to visit 23 stands, where 13 are in the category of the BPO, seven call centers, two universities and one recruitment agency. Some companies which will be present at the Job

Bheenick: Mauritius monetary policy committee needs to be more independent

Mauritius central bank governor Rundheersing Bheenick demanded a revision in the law governing the composition of the Monetary Policy Committee (MPC). Unlike the situation in most developing economies, the MPC in Mauritius comprises a majority of external members who outnumber bank members, the governor pointed out. Recently, the MPC voted to hold the key repo rate steady at 4.65%, even as its members were divided, triggering a public rift between

Construction and tourism account for 45% of credit: Bank of Mauritius

The credit portfolio of banks in Mauritius is “rather concentrated”, with 45% of banks’ private sector credit channeled to construction and tourism, according to the latest edition of the Financial Stability Report by the Bank of Mauritius. Also, the report noted that the ten largest borrowers accounted for 74.7% of banks’ total capital base and 27.9% of total private sector credit. Credits by banks in Mauritius to the ten largest

Mauritius lowers 2013 trade deficit by 4.7% on export boost

For 2013, the island economy has incurred a trade deficit to the tune of Rs 77,513 million, 4.7% lower than the deficit of Rs 81,338 million for 2012, according to data released by Statistics Mauritius. This narrowing of trade deficit, the difference between exports and imports, is explained by an increase in exports for the full year at 10.7% with foreign sales valued at Rs 88,148 million over the 2012

Mauritius star rises in China; wins multiple tourism awards

Mauritius will receive three awards in China after being ranked 9th in the “Top 10 Best Overseas City” and 2nd in the “Top 10 Island Destinations” for the year 2013, by the Ctrip group, leader in the travel and tourism industry in China, and “The Best Emerging Island Destination” by the Chinese magazine Voyage, specialising in high-end tourism. For this occasion a prestigious ceremony will be held today, February 28,

[Financial ExpertSpeak] Ashraf Esmael: Fierce Competition in Mauritius banking sector

Ashraf Esmael continued his interview to AfricaMoney by turning his lens from the past achievements of Bramer Bank to the future of the Bank, and that of the Mauritian banking sector overall. Our financial expert stated that the Mauritian banking sector must achieve innovation, regional diversification and constant technological monitoring to retain its competitive edge in the future. Bramer Bank recently announced a merger with a major African bank. How

[Financial ExpertSpeak] Ashraf Esmael: Clear vision and strategic investments key to our success

Ashraf Esmael, CEO, Bramer Bank, opened up to AfricaMoney on how the bank made significant investments to modernise its core banking system, strengthened its human capital and extended its geographical footprint to get closer to customers. Our financial expert also provided us with key insights into the rebranding exercise following the bank’s merger with Mauritius Leasing, its green initiatives and its success mantra in the competitive banking sector of the

Merger of Mitsubishi’s Princes and Mauritian major Thon des Mascareignes?

A rumour is doing the rounds of the tuna market of the potential of a merger or possible take-over involving two Mauritius-based tuna plants, one of which is Thon des Mascareignes, largely owned by Mauritian conglomerate, Ireland Blyth Ltd (IBL). Princes Mauritius and Thon des Mascareignes could possibly be seen joining forces on the island, with the latter connecting a strong tuna brand to its operations, and Princes reaping the

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