MITCO was one of the proud sponsors of the 4^th edition of the India-Africa Entrepreneurship & Investment Summit which was held in Mauritius on the 18-19^th July.  The event brought together +150 delegates comprising mainly venture capital investors, angel investors and entrepreneurs from India and Africa, and it encouraged dialogue around the pivotal role of Mauritius in bridging both continents, the need for sustainable finance for Africa and technology as an enabler of change amongst others.

Mahen Govinda, Chairman of MITCO, was a guest speaker in a panel discussion themed “Fund enterprise and innovation across the India-Africa corridor: Role of Mauritius”.  To a question raised by the moderator, Tomi Davies, regarding the economic fragmentation of the continent, Mahen elaborated on how FinTech has helped in reshaping microfinance across the 54 countries through the widespread usage of mobile money and other FinTech platforms.  The ubiquitous presence of these platforms has played an important role, at the dawn of a financial revolution, of enablers of business even in remote areas where traditional banking is non-existent or unheard of.

He further highlighted that annual global remittances from the African diaspora to their homeland are estimated to be around USD 100 billion and Mauritius, as a tried and tested International Financial Centre (IFC) with no exchange control, is set to become the point of consolidation for the intermediation of these money flows.  Furthermore, in view of the unique cultural and business ties that Mauritius shares with both India and Africa, it is poised to become the corridor of choice for intercontinental investment flows.

For more information on how to leverage the Mauritius jurisdiction for cross-border investment, please write to us on bd@mitcoworld.com or reach out to your usual contact person at MITCO.