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AfricaMoney | August 18, 2017

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Air Mauritius records profits of Eur 5.7 mn by judiciously managing costs amidst fierce competition.

November 12, 2015 | Mauritius’ national airline company, Air Mauritius Ltd achieved best results in recent years with profit of Eur 5.7 mn, confirming early signs of improvement observed on all performance indicators including seat capacity, passengers carried, and revenue and load factor with new operating p...
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LUX * Resorts & Hotels goes for the signature of a fourth management contract in China; higher occupancy rate inched up revenue of the hotel.

November 10, 2015 | LUX * Resorts & Hotels signs its fourth hotel management contract in China which is inline with  the new strategy of LUX  intending to focus on hotel management in international market. Accordingly, LUX posts satisfactory quarter results with EBITDA and revenue climbing by 38% and 8% e...
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BoM lowers key repo rate to 4.40% to support domestic economic activity; Mauritian growth forecast revised to 3.4%.

November 10, 2015 | The Monetary Policy Committee (MPC) of the Bank of Mauritius (Bank) has unanimously decided to cut the Key Repo Rate by 25 basis points to 4.40% per annum at its meeting yesterday on the 9th November 2015, to support domestic economic activity as global inflation remains benign am...
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Stock Exchange of Mauritius sees indices dip as investment cluster major ENL Land disappoints.

November 9, 2015 | The Stock Exchange of Mauritius closed lower last week, with the broader Semdex dipping 0.3% to hit 1875.63 points even as the SEM-10 fell by 0.1% to 360.78 points, as ENL Land Ltd in the investment cluster fell by 3.2% followed by Terra Mauricia Ltd dropped of 2.4%. The SEMSI index which  ...
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Emirates in support of United for Wildlife takes two massive Emirates jets wearing special livery.

November 6, 2015 | Two massive Emirates A380 jets take to the skies this week, wearing special livery in support of United for Wildlife, a global collaboration that unites the efforts of the world’s leading wildlife charities in the fight against the illegal wildlife trade.  The beautiful livery...
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The Expert Explains: What is the right way to boost insurance coverage in Africa?

November 5, 2015 | Mauritius is seeking to position itself as a platform for companies to enter insurance markets in Africa. Insurance is considered a vital financial product to guard against unexpected events in much of the developed world, yet Africa’s share of the global market in insurance is miniscule W...
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Mauritius connects better to the rest of the world with growing air connectivity under new Bilateral Air Services Agreements.

November 4, 2015 | Mauritius connects better to the rest of the world with growing air connectivity under new Bilateral Air Services Agreements (BASAs) with several countries thus providing for a total of 105 additional weekly frequencies to the Island State which is one of the main outcomes of the country’s...
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Sub-Saharan Africa economies among world’s top improvers of business climate amidst which Mauritius ranks best in the region, with a global ranking of 32.

November 3, 2015 | The “Doing Business 2016: Measuring Regulatory Quality and Efficiency” released records a total of 69 reforms in 35 economies in Sub-Saharan Africa. Mauritius ranks best in the region, with a global ranking of 32, performing particularly well in the areas of Paying Taxe...
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India and Africa needs to nurture existing partnership with Africa rising resolutely towards a brighter future posing to become a powerful magnet in various areas.

October 30, 2015 | Sir Anerood Jugnauth at the 3rd India-Africa Summit emphasised the need to further nurture the existing partnership between India and Africa in building together a spirit of South-South cooperation. India’s continuous support to help Africa tre...
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The Expert Explains: Can social media help tackle corruption in Africa?

October 29, 2015 | As many African countries continue to languish at the bottom of international league tables for corruption, can ‘grass roots’ social media campaigns supported by citizens succeed where ‘top down’ approaches have failed? This month a new online reporting platform called ‘IPaidABribe...
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IT governance an important aspect of a company good governance also an enabler for information technology to support objectives of the organisation.

October 28, 2015 | Cyber ​​attacks are now a reality which all the companies must be prepared to face. In this light that  the ISACA and MIOD, gathered IT professionals  in forum with tile of discussion being  "Cybersecurity Nexus IT Governance and COBIT Framework " moderated by two experts  from the U...
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Hospitality major, New Mauritius Hotels gets green light to list multicurrency notes on the SEM -providing liquidity to its Noteholders.

October 27, 2015 | New Mauritius Hotels Limited will list  717,373 Fixed and Floating Rate Secured Multicurrency Notes on the Stock Exchange of Mauritius with  first day of listing and trading of the notes  being the 12 November 2015 with aim of providing liquidity to the Noteholders  where the Notes were ...
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MTN wins the most valuable and admired African brand in the 4th Brand Africa 100.

October 26, 2015 | In the 4th Brand Africa 100 MTN wins the most valuable and admired Brands in Africa, the composition of the brands was dominated by non-African brands, while African brands have remained relatively stable at 23%.These rankings are increasingly significant as they are an important ...
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The Expert Explains: Do Bilateral Investment Treaties matter?

October 23, 2015 | Bilateral investment treaties (BITs) are a well-established mechanism which are intended to foster investments between countries, and UNCTAD estimates that there are now over 3200 investment agreements globally, including almost 300 involving African countries. Why, then, has South Africa de...
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Mauritius’ trims August trade deficit by 34.1% y-on-y to Rs 5 bn upon lower imports

October 22, 2015 | Mauritius trade deficit narrowed in August 2015 by 34.1% on a year-on-year basis  upon lower imports of Mineral fuels, lubricants and related materials, whose quantum dropped by 62.6% on a yearly basis; and, on a monthly basis as well, trade deficit narrowed by 35.5 % as Mineral fuels, lubr...
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Net foreign assets at Rs 146.0 bn for week to 9 Oct 15: Bank of Mauritius

October 20, 2015 | Mauritius’ estimated net foreign assets for the week ended 9 October 2015 stood at Rs 146.0 billion, noted the central bank in its weekly survey, while the monetary base comprised Rs 28.3 billion for currency in circulation and Rs 38.3 billion for liabilities to other depository corporatio...
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The new Sustainable Development Goals will only succeed if they can succeed in Africa. How can we make that happen?

October 16, 2015 | The new Sustainable Development Goals will only succeed if they can succeed in Africa. How can we make that happen? A new report from the Africa Progress Panel, Global Goals, Africa Realities, lays out a roadmap for meeting the goals and transforming lives on the continent. Africa was never ...
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The Expert Explains: What next for ACP-EU economic relations?

October 15, 2015 | On 6 October, the European Commission and the European Union’s External Action Service launched a public consultation on the relations between the EU and African, Caribbean and Pacific (ACP) states post-2020, when the existing Cotonou Agreement expires. So what does this suggest about futu...
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AfrAsia Bank Limited commits to sustainability by joining United Nations Global Compact

October 13, 2015 | AfrAsia Bank Limited commits to sustainability by joining United Nations Global Compact a step towards taking shared responsibility for achieving a better world. An action confirming the bank`s engagement to align its strategies and operations with the ten Principles on human rights, labour,...
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Mauritius needs to change focus in terms of more tangible and real investments to be the financial hub of Africa.

October 12, 2015 | Mauritius plans to launch a trading platform to hedge African currencies against the U.S. dollar, part of a bid to expand its role as a financial hub for the continent. Alongside there are talks to boost ties with stock exchanges in Johannesburg and Nairobi to encourage cross-listing of shar...
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The Expert Explains: Will the OECD’s BEPS package affect the Mauritius-India tax treaty?

October 9, 2015 | Announcing the final package of measures under the OECD/G20 Base Erosion and Profit Shifting (BEPS) project on 5 October, the OECD’s Secretary General Angel Gurría proclaimed that these represent “the most fundamental changes to international tax rules in almost a century”.  So will ...
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Chinese firm plans to build the most expensive luxury apartment in Nairobi.

October 8, 2015 | Aviation Industry Corporation of China will construct the most expensive luxury apartments in Nairobi to respond demand for high quality residential and commercial real estate in as there has been recent increase in foreign direct investment (FDI) and the entry of multinatio...
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Net foreign assets at Rs 144.4 bn for week to 25 Sept 15: Bank of Mauritius

October 7, 2015 | Mauritius’ estimated net foreign assets for the week ended 25 September 2015 stood at Rs 144.4 billion, noted the central bank in its weekly survey, while the monetary base comprised Rs 28.1 billion for currency in circulation and Rs 40.2 billion for liabilities to other depository corpora...
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Mauritius tops the ranking of the Ibrahim Index of African Governance.

October 6, 2015 | The Ibrahim Index of African Governance reveals that overall governance progress in Africa is stalling. However, Mauritius was the top ranking country with improved score in the Sustainable Economic Opportunity and Human Development but deterioration in Participation & Human Rights and S...
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Re-engineering the sugar industry is a necessity for it to be competitive viable and sustainable in the long term.

October 5, 2015 | Mauritius hosts the final workshop of the ACP Sugar Research Program towards enhancing a more open sugar market, with key objective being to reinforce the capability and competitiveness of the sugar industries of the ACP countries and, in addition, develop networking among ACP sugar cane r...
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Much to celebrate as key African nations makes big climbs reverse declines in latest WEF Competitiveness Index and Mauritius tops the list for the Sub-Sahara region.

October 2, 2015 | Mauritius remains sub-Saharan Africa’s most competitive economy, ahead of South Africa in 49th. It boasts the region’s best infrastructure, most healthy and educated workforce, and most efficient goods market. The most comprehensive annual assessment of national competitiven...
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The Expert Explains: Do Small Island Developing States have enough influence?

October 1, 2015 | The UN lists 39 countries as SIDS communities which are estimated to represent 5% of the global population. The SIDS was a key component of the speech delivered by Sir Anerood Jugnauth, at the United Nations Summit for the adoption of the Sustainable Development Goals. So who are the Small I...
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MCB’s profits up by 31.0% to reach Rs 5.7 bn for the period ended June 2015; promises great result ahead for FY 2015/16

September 30, 2015 | MCB Group Ltd profit level boosted by 31.0% to reach Rs 5.7 billion for the year period June 2015, on the back of higher net interest income, in spite of pressures on margins posed by excess liquidity and restrained demand for credit locally amidst subdued private investment and Net fee and ...
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Mauritius marks its presence in the U.S – Africa Institutional Investor Roadshow 2015 in New York with BOI participation.

September 29, 2015 | The Board of Investment Mauritius is participating in the U.S-Africa Institutional Investor Roadshow Launch today, September 29th, 2015 in New York. The Roadshow will provide a platform for U.S. institutional investors and African government representatives to discuss and implement best prac...
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CIEL group sees PAT amounting to Rs 2.1bn for year ended June 2015, a marked improvement over last year.

September 28, 2015 | Mauritius-based conglomerate CIEL notched a marked improvement for the year end June 2015 over last year with group reporting a net profit after tax of Rs 2.1bn and profit attributable to owners of the parent totaled Rs 1.1bn CIEL group posted revenue of Rs 16.5 bn for the year e...
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