Mauritius: A model of diversification
Simon Cook participated in a panel discussion, "Mauritius: A model of diversification," at GTR Africa 2019 on March 14, 2019.
In the 50 years since gaining independence, Mauritius has transformed itself from an economy based on sugar, textiles and high-end tourism with a GDP per capital of US$200 to an offshore financial services centre and an international hub for intra-African and south-south trade of US$10,000, putting itself closer to the World Bank’s high income status category.
The discussion highlighted key lessons and provided an update on market developments, including:
- From single commodity to diversified economy: How important is political and economic stability?
- Assessing the country’s capabilities as an offshore banking hub for Africa-based corporates: How can Mauritius be a gateway into Africa?
- Outlining key benefits from a cash management, funding, stability and governance perspective
- Explaining relevant changes and updates to the regulatory environment: What do companies need to know? How advantageous is Mauritius's legal structure?
- Providing insight on the most appropriate and tax-efficient structures companies can adopt and how this can help further investment into Africa