The Board of Investment and the Financial Services Promotion Agency’s organised a workshop the 23rd February in Maputo, where Mauritius was showcased as a privileged investment partner and financial and investment platform for foreign multinationals looking to start or expand activities in Mozambique. Mozambique is an indispensable part of Mauritius’s global strategy to promote economic development and growth in Africa.
Mauritius has completed nearly 50 bilateral double taxation avoidance agreements, 20 of them with African countries. The country has formalized more than 40 bilateral agreements (23 in Africa) relating to the promotion and protection of investments and reached 30 memoranda of understanding with African countries out of a total of 40 globally.
The Mauritius Africa Fund Benefits from government capital of USD 14 million as equity financing for viable projects in Africa, while the Enhanced Government-to-Government program enables the setting up of special economic zones in several African countries.
One other critical component of Mauritius’s strategy in Africa is private sector involvement. According to the African Development Bank, over 60 private companies are already investing in 25 countries across Africa.
Though Mozambique’s energy potential attracts most of the attention, Mauritius is ideally placed to serve as a springboard for development in other sectors, including technology-based and biotech agriculture, maritime business, manufacturing and high-tech medical services and products.
Source: Club of Mozambique