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AfricaMoney | October 16, 2017

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South Africa

Islamic banking: Mauritius to cement status as offshore financial hub

July 24, 2014 | Bank of Mauritius governor Rundheersing Bheenick has for long advocated issuing a sovereign sukuk, and was instrumental in bringing the Islamic Finance Service Board annual summit to the Mauritius in May. (Image: Luthfullah Azeez Blog) With the intention of strengthening the econ...
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Export edge: Mauritius reduces trade deficit 3.9% year-on-year in May

July 22, 2014 | Compared to May 2013, the island economy's exports rose by 18.1% to Rs 8.26 billion in May 2014, spurred mainly by exports of manufactured goods which rose 9.88% to Rs 2.6 billion. (Image: Investors Business Guide) Mauritius’ trade deficit came down by 3.9% in May 2014 to Rs 5....
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Soaring high: Air Mauritius ranked second best airlines in Africa

July 21, 2014 | This has been a great month for Air Mauritius, as on July 08, 2014 the national carrier was awarded the prestigious 4-star professional quality rating by airline and airport consultancy Skytrax. (Image: MCB) Air Mauritius distinguished itself as the second best airline in Africa ...
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Mauritius leads innovation in Sub-Saharan Africa; ranked in Top 50 globally

July 21, 2014 | Mauritius (40th), Seychelles (51st) and South Africa (53rd) are the only three Sub-Saharan African countries to hit the upper half of the Global Innovation Index rankings this year. (Image: ZD Net) Mauritius yet again leads the region on innovation, having been ranked 40th world-...
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Stock Exchange of Mauritius to start fund tracking biggest South African stocks

July 19, 2014 | Besides, in further developments, the exchange will also replace its SEM-7 index with the SEM-10 index in October by adding three extra shares to the measure. (Image: Stetson) Giving investors a more attractive range of choices, the Stock Exchange of Mauritius (SEM) disclosed pla...
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Africa: Are biometric ID cards a legal means of privacy invasion?

July 16, 2014 | Many Mauritians are rising in protest against the ID cards, claiming that they threaten privacy and even democracy itself. (Image: Dreamstime) Big brother is watching you! George Orwell may not have written ‘1984’ with smart cards in mind, but his classic novel’s concept of...
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Pan-African telco Internet Solutions to extend network by three points of presence

July 16, 2014 | Lesotho, Swaziland, and Malawi are the countries that have been provided with the new PoPs as the company wants to boost its capacity to support business in Africa. (Image: Mybroadband) Pan-African telecommunications services provider, Internet Solutions (IS), which is also pres...
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Mauritius ranked second on power of passports among African nations

July 15, 2014 | The Mauritian passport – which grants access without a visa or by receiving one upon entry to 123 countries – has been ranked as the second most powerful passport in Africa after Seychelles. (Image:CNN) More than a simple grant of access to country, passports and the visas s...
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Mauritius among top three destinations in Sub-Saharan Africa for US & Japan FDI

July 14, 2014 | The report by Washington-based nonprofit public policy organization, Brookings Institution, analyses the investment flows between Sub-Saharan Africa and its major partners – the US, China, the European Union (EU) and Japan. (Image: China.org.cn) Mauritius features among the top...
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Mauritius sees tourist arrivals rise 4% in six months to June 2014

July 11, 2014 | Europe, which continues to send more than 50% of overall visitors to the island economy, contributed to a rise of 0.8% to 266,295 visitors for the half-yearly period to June 2014 compared to a decline of 5.5% last year. (Image: Financial Times) The number of tourists visiting Mau...
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Africa must take charge of its health to generate wealth

July 10, 2014 | Only thirty-seven African countries boast pharmaceutical production on any scale, although only South Africa produces active pharmaceutical ingredients (API), the central ingredient for any medicine. (Image: Pfizer) A shocking fact: Africa, with over 14% of the world’s populati...
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Mauritius tourism makes inroads in Nigeria

July 10, 2014 | The One&Only Resort Le Saint Geran, Mauritius, and South African Airways (SAA) Nigeria, have joined hands to promote Destination Mauritius. (Image: The One and Only Resorts) Africa calling seems to be the theme for Mauritius tourism, and what better way to boost visibility in th...
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African banks gave highest returns on capital in 2013: The Banker

July 8, 2014 | The report also shows that 31 banks in Africa yielded the highest returns to shareholders in 2013 and features State Bank of Mauritius (SBM) among the top 5. (Image: Grand Baie) The Banker magazine released its 2014 Top 1000 Banks ranking last week which showed that African banks...
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Mauritius among top countries investing in new renewable power projects: report

July 8, 2014 | Recently released by the Renewable Energy Policy Network, the 2014 edition noted that South Africa led the African continent in renewable investments, followed by Kenya, Mauritius and Burkina Faso. (Image: Davies Consulting ) Mauritius ranks second globally among countries for s...
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Stock Exchange of Mauritius plans to boost value of its markets

July 4, 2014 | The exchange is making rules for listing easier, including allowing multiple currencies, as it seeks to attract more and more foreign companies to sell shares on the bourse. (Image: Mashable) The Stock Exchange of Mauritius plans to boost the value of its markets to match the si...
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Mining ExpertSpeak: Mauritius is very well-positioned as regional financial hub

July 3, 2014 | Hamlet Morule, Corporate Affairs and Investor Relations executive at South African mining major Wesizwe Platinum, spoke about the ‘social licence’ for mining – an intangible licence to operate that comes up as a result of good community relations. (Image: Cecilia Samoisi) ...
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Drilling deep: Mauritius may overthrow South Africa as mining deals’ regional hub

July 1, 2014 | The island country, whose economy is non resource-based, has reportedly made strides in setting up its capital city as the finance hub for mining sector financial deal structuring (Image: Paradise in the World) Despite leading the Southern Africa regional foreign direct investmen...
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Indian financial services major ICICI Bank to expand to Mauritius and South Africa

July 1, 2014 | The bank has obtained regulatory approvals from the Indian central bank to open the branches, said Chanda Kochhar, the Managing Director and Chief Executive Officer of India’s largest private sector lender (Image: Wikipedia) India’s largest private sector lender ICICI Bank an...
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Higher a country’s income; higher the inequality: Southern African study

June 25, 2014 | The Gini indices for ten countries in Southern Africa shows a consistent pattern of economic growth co-existing side by side with growing levels of inequality. (Image: Health Technology Africa) The higher the country's income, the higher the levels of inequality, according to pre...
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Riding ocean economy wave: Mauritius to be a high income economy by 2020

June 25, 2014 | Ken Poonoosamy, Managing Director of the Mauritius Board of Investment (BOI), noted that Mauritius was likely to become a high-income economy by 2020, with a GDP per capita of about USD 14,000. (Image: Cecilia Samoisi) The Mines and Money Access Africa Summit, which tackled the t...
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Mauritius offers gateway to Africa for foreign firms to pursue projects

June 24, 2014 | Patrycja Kula, a Business Development Manager at the Johannesburg Stock Exchange (JSE), emphasized that South Africa improved its global position in the FDI confidence index from 15 to 13 in 2014 (Image: Cecilia Samoisi) The Mines and Money Access Africa Summit 2014 hosted a pre...
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Mauritius sees trade deficit shrink by 8.7% year-on-year in April as exports rise

June 23, 2014 | Export revenues for mercantile goods rose by a towering 17.1%, or Rs 1.13 billion, to Rs 7.76 billion compared to the year-ago period, driven by higher machinery and transport equipment sales that rose four-fold from Rs 126 million to Rs 531 million. (Image: Iridium Express) Maur...
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Mauritius hotel occupancy rate to fall to 61.5% in 2018 from 63.3% in 2013: PwC

June 20, 2014 | With several renovations and projects lined up in the industry, the number of available hotel rooms is expected to increase at a 2.9% compound annual rate to 14,250 in 2018. (Image: Mauritius attractions) Mauritius tourism woes are set to intensify as global consulting major Pric...
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Enterprise Mauritius leads delegation to South Africa for SAITEX 2014

June 19, 2014 | For companies participating in this exhibition from June 22 to 24, 2014, it will be an opportunity to meet foreign delegates, establish business relationships, interact with potential clients and explore both the international and domestic markets. (Image: MM Clients) The South...
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Investor interest in Africa set to rise in 2014: FDI Confidence Index

June 16, 2014 | South Africa, in particular, set the tone for rising investor confidence, moving up two slots from 2013 to 13th place in 2014. (Image: Source Mauritius) Africa bucked 2013’s lethargic trend with a 12% increase to $47.6 billion in foreign direct investment, broad-based across s...
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Mauritius attracts Rs 1.9 billion foreign direct investments in first quarter of 2014

June 16, 2014 | The island economy had attracted Rs 2.68 billion in FDI in the first three months of 2013, representing a 29% dip over the year-ago period. (Image: All in Mauritius) Mauritius attracted Rs 1.9 billion of foreign direct investment in the first quarter of the year against Rs 2.68...
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Global manufacturing output up but emerging economies fragile: UN report

June 13, 2014 | Africa saw its manufacturing output for the first quarter of 2014 rise only by a marginal 0.71% compared to January to March 2013, and actually fall 0.43% compared to the last quarter of 2013. (Image: United Nations) Recession? What recession! According to a UN report, world man...
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Mobile internet usage in Sub-Saharan Africa to be twice the global rate by 2019

June 11, 2014 | Mobile users are showing a marked preference for using their devices to complete a variety of activities that are normally performed on laptops or desktops. (Image: Ericsson) Mobile internet usage in Sub-Saharan Africa will increase to twice the global rate to attain 930 million ...
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Africa growth story suffers: South African GDP shrinks for first time since 2009

May 28, 2014 | Incidentally, the 24.7% decline in mining output was the biggest quarterly contraction since 1967 as Africa's most advanced economy reels under the longest and costliest strike yet in the platinum mining space. (Image: Mining Recruitment Jobs) South Africa’s economy shrank mor...
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Foreign funding: Africa to see FDI inflows rise to USD 80 billion in 2014

May 22, 2014 | The manufacturing and service sectors will continue to attract a big share of the foreign direct investments into Africa, expected to fetch as much as USD 67.1 billion this year, according to the African Economic Outlook 2014. (Image: AfDB) In what signals the final death knell ...
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