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AfricaMoney | October 16, 2017

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Posts By africamoney

Bramer Bank sees quarterly profits up 12%

November 14, 2013 | The bank declared after-tax profits of Rs 5.8 million for the three months from July to September 2013, against Rs 5.2 million for the corresponding period a year ago. (Image: Company Website) Bramer Banking Corporation, a leading financial institution based in Mauritius, saw pro...
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Mauritius joins India, Canada in boycotting Sri Lanka Commonwealth meet

November 14, 2013 | For the first time since Mauritius gained independence in 1968, it will not have its head of State at a Commonwealth summit. Instead, foreign minister Arvin Boolell (right) will represent the island economy. (Image: AFP) While dissent over the tax treaty between ...
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Sugar scare: Terra Mauricia’s Jan to Sept profits dip 26%

November 14, 2013 | Terra, which has diversified from sugar to energy, alcohol production, property development and financial services, said pretax losses from its mainstay sugar business widened to Rs 114.1 million from Rs 33.1 million. Sugar woes continue to plague the island economy with Terra Ma...
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Jan to Oct tourist arrivals to Mauritius rise 2.8%

November 13, 2013 | Based on Statistics Mauritius data, there has been a 2.8 % rise in the number of tourists coming to Mauritius this year till date at 786,963 tourists compared to last year which witnessed the arrival of 765,578 visitors in the 10 months from January to October. (Image: accommodation.io)Read More

How Budget 2014 scores on the common man’s expectations

November 13, 2013 | AfricaMoney brings to you in-depth insights into the performance of the government in Budget 2014 against the expectations of the common man, identified through our Budget Expectations Survey conducted last month. (Image: Yashvin Awootar) So, now that the Budget is in and we are ...
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Rwanda-Mauritius tax treaty renegotiated, loopholes closed

November 13, 2013 | With Rwanda expressing concern that Mauritius was benefiting disproportionately from the 2001 tax treaty between the two nations, taxation rights have now been allocated more fairly between them. (Image: Christophe Calais/ Corbis)    With Rwanda expressing concern that M...
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Mauritius-routed foreign investments into India fall, Africa gains

November 12, 2013 | With India cracking down on investments routed through Mauritius by shell companies, India's share of the number of investments made by global companies through Mauritius has dipped to 15%, even as Africa’s share has crossed 50%. (Image: business.mega.mu) With India cracking do...
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Air Mauritius declares Sept quarter profits, trims half year losses

November 12, 2013 |

Air Mauritius seems to be getting a much-needed breather as the struggling airlines’ quarterly profit for the three months ended 30 September 2013 was more than four-fold that achieved over the year-ago period. (Image: accommodation.io)

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Tax haven alert: Mauritius tops Sub-Saharan Africa in financial secrecy

November 12, 2013 |

Mauritius is in the spotlight for being a tax haven again as the island economy was pinpointed as the least transparent country in Sub-Saharan Africa on the financial secrecy index (FSI). (Image:  aims-mauritius.com)

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Lux Island Resorts improves occupancy rates, quarterly loss narrows

November 11, 2013 |

The island-based luxury hotel chain said its room occupancy rate rose 10 percent in the three months to September as it made a dent in pretax losses by more than Rs 61 million. (Image: Company Website)

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Mauritius to host pan-African ICT conference in 2014

November 11, 2013 |

What will come as great news to ICT players in Mauritius is that each conference held under the IST Africa banner places special emphasis on showcasing progress in the dynamic information and communications technology space in the host country. (Image: euroafr...
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Sugar’s sweet no more, Mauritius allows imports as output dips

November 11, 2013 |

With Mauritian sugar production estimated to fall to 410,000 tonnes by the end of the year the government has been forced to authorize imports totaling 125,000 tonnes to meet domestic consumption in the first quarter of 2014. (Image: Business ...
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How the budget adds up

November 8, 2013 | Mauritian Finance Minister Xavier-Luc Duval outlined a two pronged strategy of invigorating growth and investment, as well as building a modern, caring and inclusive society for Budget 2014. (Image: grandbaie.mu) Empowerment and growth were the ...
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And the countdown to Budget 2014 begins…

November 8, 2013 | So, what would give Mauritians cause for joy when Budget 2014 is read in the afternoon session today? (Image:business.mega.mu)

With a few hours to go for Budget 2014, let’s do a roundup of the main issues that the people of Mauritius expect the gov...
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FM speak: How their budget speeches stack up

November 8, 2013 |

On the eve of Budget 2014, let’s reflect on some key thoughts of finance ministers holding the reins of the island economy across the last 10 years (Image: Government of Mauritius)

On the eve of Budget 2014, Afri...
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What the common man expects from Budget 2014

November 7, 2013 |

Three fourths of the households surveyed by Africa Money under its Budget Expectations Survey declared that corruption was the single biggest problem facing the economy today. (Image: transparency.org)

The governme...
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Commonwealth Business Forum to focus on Indian Ocean Rim

November 7, 2013 | Mauritius is an important stakeholder of the Commonwealth Business Forum and the island economy is expected to take center stage this year as the forum focuses on Indian Ocean economies. The 2013 Commonwealth Business Forum (CBF) will focus on the potential for partnership in one...
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10,000 jobs in the next 3 years in Mauritius’ ICT sector

November 7, 2013 | Cloud computing, data centers and mobile applications will power the maximum jobs in the in the next three years, with ICT reigning supreme as one of the sectors with the greatest job creation potential for the island nation. (Image: business.mega.mu) A whopping 10,000 jobs in th...
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Mauritius’ Ireland Blyth sees first quarter operating profit up 9%

November 7, 2013 |   Mauritian conglomerate Ireland Blyth Ltd (IBL) saw 9% growth in operating profits for the quarter ended Sept 30 to hit Rs 338 million even as quarterly revenue stagnated at Rs 5.3 billion, compared to Rs 5.2 billion in the year-ago period. (Image: Global Village Encyclopedia)Read More

“Economic growth and social justice not mutually exclusive”

November 7, 2013 |

A Deputy General Manager at MCB Mozambique till 2011, 59-year-old Emmanuel Blackburn has interesting insights to share on the forthcoming Budget 2014, and the Mauritian economy in general.

A Deputy General Manager...
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Mauritius declared ‘Next travel destination’ at China Travel Awards 2013

November 6, 2013 | In a big boost to the island nation, famed for its picturesque beaches and world-class hospitality,  Mauritius was awarded the 'Next Travel Destination' award by the Travel and Leisure magazine at the China Travel Awards 2013 held in Shanghai recently. (Image: telegraph.co.uk) I...
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IMF projects robust 5% 2013 GDP growth for Sub-Saharan Africa

November 5, 2013 | While Sub-Saharan Africa continues its strong growth momentum with the International Monetary Fund (IMF) projecting a robust GDP rate at about 5 percent in 2013, the October outlook represen...
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Sub-Saharan Africa has 6 nations in 10 most corrupt countries

November 5, 2013 |

Sub-Saharan Africa is host to 28 of the 70 ‘extreme risk’ countries including six of the 10 worst performers on the Corruption Risk Index (CRI). (Image: freespeechdebate.com)

Corruption remains a grave problem ...
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Wage increases on the cards for Mauritian workers

November 5, 2013 | 1

For Mauritian workers drawing less than Rs 6,500 a month, the time for celebration may be drawing near. The Minister of Labour, Industrial Relations and Employment has referred to the National Remuneration Board (NRB) 14 remuneration regulations covering such ...
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Ferney Spinning Mills may soon be strategic supplier to Benetton

November 4, 2013 | Mauritius-based textile yarn producer Ferney Spinning Mills (FSM) is in active negotiations with global retail giant Benetton to be taken on board as a strategic supplier. Mauritius-based textile yarn producer Ferney Spinning Mills (FSM) is in active negotiations with global reta...
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ActionAid: Deloitte advised on avoiding tax by investing via Mauritius

November 4, 2013 |

A 2013 Deloitte document called “Investing in Africa through Mauritius” shares blow-by-blow details of how the island nation is being promoted as a favoured tax haven for use by big businesses operating in Africa. (Image: ...
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Mauritius lures Bollywood with 30% rebate scheme

November 4, 2013 |

It is a happy Divali indeed for the Indian film fraternity as Mauritius launches a 30% rebate scheme to attract film-makers, especially from Bollywood, to shoot in the picturesque island nation. (Image: business.mega.mu)

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Is Africa ready to pull down trade barriers?

October 31, 2013 | To do away with the needless acronyms and multiple platforms, after the tripartite initiative was officially launched in 2011, the AU summit decided to fast-track a continental Free Trade Area (FTA). (Image: Reuters) When African Union (AU) heads of state gathered in Addis Ababa ...
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Mauritian exchange GBOT eyes continent coverage, rebrands to Bourse Africa

October 31, 2013 |

A pioneering pan-African focused trading venue, Bourse Africa aims to serve the needs of the growing African financial markets environment. (Image: Business Daily Africa)

Mauritius’s first international multi-ass...
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Work placements beckon Mauritian college students

October 31, 2013 |

The island nation is sending out the right message to its youth with an initiation workshop being held today to mark the launch of the work placement programme for Lower VI students. (Image: University of Mauritius)

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