AFRICA: Island business

According to a recent article published by Opportunity magazine, the Double Taxation Avoidance Treaty which entered into force on 28 May 2015, and the latest statements by the Mauritian Prime Minister (PM), Sir Anerood Jugnauth, at the launch of the country’s High Powered Committee On Achieving The Second Economic Miracle And Vision up to 2030, the opportunities for South Africans doing business in Mauritius are now even better than ever before.

According to the Mauritian PM, the financial services industry is also a key pillar to help achieve the second economic miracle. The creation of a new ministry dedicated to financial services and good governance is a strong signal to international investors, with a new strategic vision to develop Mauritius into a vibrant and sophisticated international financial services centre of substance.

Graham Sheward, Managing Director of Cim Global Business, who was interviewed for the article, “from an infrastructure point of view, Mauritius has the second most developed infrastructure in Africa, after SA – with a bilingual professionally qualified population, yet the wage costs are relatively low (lower than in SA), as a matter of fact, lower than in many parts of Africa. So there’s real opportunity and advantage for South African companies to set up their regional headquarters for Africa from here. Some of the advantages include the fact that there’s no exchange control requirement, there are no BEE requirements here, and the fiscal environment is favourable. Mauritius is the number one country in Africa in terms of ease of doing business. It is also the number one competitive country, overtaking SA.”

Source: Exploring Business prospects in southern African Opportunities

Posted on: November 25, 2015