THE NEW AFRICA STRATEGY TO PROMOTE DEVELOPMENT ON THE CONTINENT
Mauritius has fostered close ties with several countries across the continent in the area of trade and investment. Mauritius also remains an important regional player through its membership in regional trading blocs and associations including the SADC, COMESA, the Indian Ocean Commission and Indian Ocean Rim Association.
A number of regional institutions that promote regional integration such as the Regional Multi-disciplinary Centre of Excellence (RMCE), AFRITAC, the IMF Africa Training Institute and the COMESA Fund are based in Mauritius.
The New Africa strategy consists of:
- A dedicated centre – the Africa Centre of Excellence – that showcases and facilitates investment in Africa through business intelligence and networking
- The Mauritius Africa Fund with Government seed capital of MUR 500 million as equity financing for viable projects in any African country
- A Freight Rebate Scheme
- A subsidized Export Credit Guarantee Insurance Scheme
- Enhanced Government to Government collaborations in the setting-up of Special Economic Zones in several African countries.
With its well-regulated and trusted International Financial Services Centre, and its broad network of agreements with a number of States across mainland Africa, Mauritius equally offers a good investment and services delivery platform.
TRADE WITH AFRICA
Companies involved in manufacturing can launch their activities in the Freeport and benefit from the applicable tax regime (Tax exemption from both corporate tax and VAT) if 95% of their production is meant for exports. However, 80% of that volume must be exported to African countries. A 25% refund of the cost of freight per container exported to specific countries in Africa up to USD 300 per 20-foot container.
INVESTMENT OPPORTUNITIES
The administrative headquarters for multinationals as a financial center and an investment platform, the country offers many advantages for multinational and transnational companies wishing to set up their headquarters for the conduct of their operations in Africa. A multinational will be eligible if three of the following criteria are met:
- Administration and general management
- Planning, development and coordination of business
- Economic research and investment and related analysis
- Services relating to international headquarters
- Other administrative business of the HQS in accordance with the Financial Services Commission Regulations (FSC).
Mauritius remains an ideal choice for its competitiveness and risk mitigation relating to investment both in Africa and outside Africa.
Mauritius is one of the largest and most innovative centers for the stock exchange listing and fundraising in Africa. There are currently two stock exchanges authorized by the Financial Services Commission (FSC), namely the Stock Exchange of Mauritius Ltd (SEM) and the Bourse Africa Ltd (BAL).
