Development of new sectors in Mauritius
MAURITIUS POSITIONING AS A FINTECH HUB
In last budget 2017-2018, to promote Mauritius as a Fintech Hub for Africa, the Government has announced the creation of a Regional Fintech Association which will act as a think-tank, advise on necessary regulatory and business climate amendments and create a network and tie-ups with international institutions such as innovate Finance London and the Fintech Circle.
On the 20th September 2017, the Board of Investment (“BOI”) in collaboration with the Financial Services Promotion Agency (“FSPA”) organized a one-day consultative workshop themed “Shaping the Fintech Landscape”. The objective of the workshop is to prepare an action plan for the sector and establish the goals and functions of the association.
Mr. Ken Poonoosamy, the Managing Director of the BOI also mentioned that since the introduction of the Regulatory Sandbox Licence (“RSL”) in 2016, the BOI has received expressions of interest for projects in the Fintech sector.
The RSL is an innovative measure which offers the possibility to investors and companies to conduct a business activity in Mauritius for which there is no legal framework or adequate provisions under existing legislation. In line with the Government’s vision to move Mauritius towards an innovation-driven economy, the RSL offers opportunity for investors wishing to introduce modern/ advanced project in Mauritius.
For more information about the RSL and Fintech activities, please contact your representative at MITCO or write to us on bd@mitcoworld.com
Source- Board of Invesment
MAURITIUS MACADAMIA NUT PROJECT
In addition, to diversify the agricultural sector and be less dependent on the sugar cane plantation, Mauritius has in the last budget 2017 - 2018 announced the cultivation of Macadamia for exportation. In collaboration with the Board of Investment, the Food and Agricultural Research & Extension Institute (FAREI) is working in collaboration with DALE Capital Group Ltd for the implementation of this project.
These are real opportunities for our island which is diversifying its sectors, encouraging international investment and expertise as well as creating new skills and employment possibilities.
Source - Board of Investment