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AfricaMoney | September 22, 2017

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Banking/Finance

Net foreign assets at Rs 142.0 bn for week to 24 July 15: Bank of Mauritius

August 5, 2015 | Mauritiusestimated net foreign assets for the week ended 24 July 2015 stood at Rs 142.0 billion, noted the central bank in its weekly survey, while the monetary base comprised Rs 27.6 billion for currency in circulation ...
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Barclays Africa delivers strong half-year performance as strategy gains momentum

August 4, 2015 | Barclays Africa Group Limited announced an 11% increase in headline earnings for the first six months ended 30 June 2015 and remains firmly on track to deliver on its three year strategic priorities and market commitments.  Driven by a 7% increase in pre-provisi...
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Opening Soon: Bank of China looks set for Mauritian welcome

July 31, 2015 | Bank of China, which recently expressed interest to set up a branch in Mauritius, appears well poised to open its doors in the island economy soon, as a delegation managed by the bank’s representative, Zhang Xiaoqing, was on a mission at the Bank of Maurit...
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Net foreign assets at Rs 141.0 bn for week to 17 July 15: Bank of Mauritius

July 29, 2015 | Mauritius’ estimated net foreign assets for the week ended 17 July 2015 stood at Rs 141.0 billion, noted the central bank in its weekly survey, while the monetary base comprised Rs 28.0 billion for currency in circulation and Rs 42.5 billion for liabilities to other depository corporation...
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Good corporate governance key to develop reputable image for financial services in Africa

July 29, 2015 | To promote robust corporate governance in Africa, an agreement was signed between the African Corporate Governance Network and African Securities Exchanges Association, with such initiatives expected to boost the image that the world has of Africa and create more confidence in investors for ...
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Mauritian banks pay highest director fees; tourism sector offers lowest pay

July 28, 2015 | A Hay Group study on directors fees in Mauritius reveals that the role with the highest premium is that of the Chairman of the Board in the banking sector, while the tourism sector is the least remunerative for directors in Mauritius. (Image:Wazna Gunga) The highest paid director...
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MCB recalls 1500 cards upon detection of skimming devices in two ATMs in Port Louis

July 27, 2015 | Mauritius’ largest bank, the MCB, detected fraudulent devices placed on two ATMs in Port Louis last Wednesday, 22 July 2015, following which the bank immediately took steps to block 1500 customers’ cards as a safety meas...
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MCB share value rises to 2015 high of Rs 218; pulls up Stock Exchange of Mauritius

July 27, 2015 | The Stock Exchange of Mauritius ended the week on a positive note with the Semdex and the Sem-10 index gaining 0.2% and 0.6% to hit 1953.78 points and 373.49 points respectively for the trading week ended July 24, 2015, upon positive performance by banking major MCBG which hit an annual reco...
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MCB Focus: Mauritius must power own growth ambitions by nurturing needed talent

July 24, 2015 | The latest edition of the MCB Focus report encourages the island economy to power its own growth ambitions of transforming into a regional hub for investment and trade, by undertaking a wide-scale yet carefully-executed opening up of the labour market to foreign talents, notably those displa...
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GIPS framework to promote ethics integrity & trust among investors in Mauritius IFC

July 23, 2015 | As Mauritius moves towards becoming an International Financial Centre of substance and repute, one of its prime objectives as a financial centre is to uphold high standards, and, keeping this ultimate objective in mind, Global Finance Mauritius organised a half-day conferenc...
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Net foreign assets at Rs 141.7 bn for week to 10 July 15: Bank of Mauritius

July 22, 2015 | Mauritius’ estimated net foreign assets for the week ended 10 July 2015 stood at Rs 141.7 billion, noted the central bank in its weekly survey, while the monetary base comprised Rs 28.2 billion for currency in circulation and Rs 44.2 billion for liabilities to other depos...
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BoM keeps key repo rate unchanged at 4.65%; Mauritian growth forecast revised to 3.7%

July 17, 2015 | With advanced and emerging economies failing to register expected growth rates, even as domestic inflation remains under control, and is even decreasing, the Monetary Policy Committee of the Bank of Mauritius decided to maintain thekey repo rate at 4.65% but the central bank revised the GDP ...
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AfrAsia Bank targets IPO late-2016: National Bank of Canada ups stake in bank to 17.5%

July 15, 2015 | Mauritius-headquartered AfrAsia bank’s Tier 1 Capital now stands at Rs 4.2billion with a Capital Adequacy Ratio above 13.5%, and a prominent shareholder, the Montreal-based National Bank of Canada,has recently increased it...
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Bank of Mauritius notes gross domestic debt at Rs 171.8 bn at end-June 2015

July 15, 2015 | The Bank of Mauritius survey shows that the annual growth rate of the monetary base was 15.2% in June 2015, up from 13.1% in May 2015, while another statement shows that the gross domestic debt of the bank stood at Rs 171.8 bn at end-June 2015, with medium term obligations being the main sou...
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Financial ExpertSpeak: Mauritius a victim of own success; tough to change economic narrative from tourism

June 25, 2015 | Samantha Seewoosurrun, a professional consultant in the Financial Services sector, spoke to AfricaMoney  on how there is a great deal of competition to become the pre-eminent International Financial Centre within Africa; also, Mauritius may be a victim of its own success, with its tourism m...
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MCCI forecasts moderate economic growth of 3.7% for Mauritius in 2015

June 18, 2015 | The MCCI estimates a growth rate of 3.7% for the island economy in 2015 which is lower than the rate announced by Mauritius' finance minister Vishnu Lutchmeenaraidoo; as a silver lining, though, the ICT sector will be the most dynamic sector with a long phase of growth exceeding 10%.(Image:i...
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Net foreign assets at Rs 136 bn for week to June 5: Bank of Mauritius

June 17, 2015 | Estimated net foreign assets for the week ended 05 June 2015 stood at Rs 136.4 bn in Mauritius, according to the central bank’s weekly survey, and concerning the monetary base of Rs 72.7 billion, it comprised Rs 28.1 billion for currency in circulation, Rs 44.5 billion for liabilities to o...
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Mauritius’s current account deficit dips by 12.3% to Rs 5938 mn in Q1 2015

June 15, 2015 | Mauritius' preliminary estimates for Balance of Payments showed a lower current account deficit for the first quarter of 2015, as exports rose by a higher 14.1% compared to 8% growth in imports of goods, while for the inflation expectations survey, a majority of respondents expect inflation ...
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Investment ExpertSpeak: Mauritius regulators to keep abreast of financial innovation

June 11, 2015 | Sharona Rambocus, Vice President of CFA Society Mauritius, spoke to AfricaMoney on how Mauritius’ credibility as an international financial centre of choice took a hit in the latest financial scandal. However, she pointed out that, subsequently, local i...
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MCB named Mauritius’ Commercial Bank of the Year by International Banker

June 10, 2015 | Prestigious publication International Banker has named MCB as the Commercial Bank of the Year in Mauritius for the second consecutive year, upon stimulating world economic trade and creating opportunities which favour growth, while adhering closely to regulations and respecting good governan...
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Stock Exchange of Mauritius gets a boost as banking majors MCB & SBMH gain

June 8, 2015 | Both the Semdex and the SEM-10 index of the Stock Exchange of Mauritius inched up by 1.0% and 1.2% to reach 1970.79 points and 371.12 points respectively for the trading week of June 5, 2015, upon positive performances by banking majors MCB and SBMH.(Image: Executive Magazine) <...
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Mauritius climbs to impressive 39th in WEF’s Global Competitiveness Rankings

June 5, 2015 | Mauritius is the region's best performing economy, followed by South Africa, to rank 39th and 56th respectively, making them the African continent’s top performers and coming in above the Southeast Asian and emerging market economies of Brazil and India.(Image: Read More

World Economic Forum meets in Cape Town to discuss future prospects for Africa

June 4, 2015 | The World Economic Forum, currently being held in Cape Town, convenes business experts from Africa and the rest of the world to address issues on the African Continent as well as to debate progress and future prospects of the continent, including discussions around developing the Blue Econom...
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Accounting ExpertSpeak: Right decisions can be taken only if credible information is held

June 4, 2015 | Olivia Kirtley, President of the International Federation of Accountants (IFAC), spoke to AfricaMoney on the importance of the accounting profession as the foundation of a robust economy. Our accounting expert noted that it is availability of credible information that promotes transparency a...
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WTO warns FDI flows into India through Mauritius may drop upon tax treaty concerns

June 4, 2015 | The WTO trade review policy shows that Mauritius accounts for around 40% of total FDI inflows in India as,forIndia-bound investments, companies from the subcontinent appear to be taking full advantage of Mauritiusoffshore financial facilities to attract f...
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Net foreign assets at Rs 137 bn for week to May 22: Bank of Mauritius

June 3, 2015 | Estimated net foreign assets for the week ended 22 May 2015 stood at Rs 137.3 billion in Mauritius, noted the central bank’s weekly survey, while the monetary base comprised Rs 27.2 billion for currency in circulation, Rs 45.3 billion for liabilities to othe...
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Bank of China mulls Mauritius branch; Jinfei Zone set to take off

June 1, 2015 | Finance Minister Vishnu Lutchmeenaraidoo announced that the Bank of China has expressed interest in setting up a branch in Mauritius, which will be a welcome addition to the financial landscape of the island economy and bolster ties between the two countries, taken together with the MoU on t...
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Stock Exchange of Mauritius sees indices dip as banking stocks disappoint

June 1, 2015 | The Stock Exchange of Mauritius closed lower last week, with the broader Semdex dipping 1.2% to hit 1952.0 points and the SEM-10 down by 1.7% to 369.6 points, as dominant market players, financial service majors MCBG and SBMH reported a decline of 2.1% and 1.5% respectively.(Image: freevect...
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Moody’s: Mauritius diversified & resilient economy to attain 3.6% growth in 2015& 2016

May 29, 2015 | Moodys rating agency considers Mauritiuseconomic outlook to be healthy and forecasts real growth of 3.6% in both 2015 and 2016 with the countrys re...
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Mauritius’ reputed CA firm BDO strengthens position in Africa with Rwanda foray

May 29, 2015 | Reputed auditing and accounting firm BDO Mauritius has tightened its stronghold over Africa by setting up its footprint in Rwanda to contribute towards the economic development of the emerging Eastern African economy by accompanying customers to the country ...
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