Financial hub Mauritius ably supported by strong governance: PTA Bank
The PTA Bank intends to invest about USD 1 billion in addressing the infrastructural deficit in Africa, emphasizing the importance of the bank being present in Mauritius, as it is a financial hub for Africa with well-developed support systems. (Image: UN)
In another vote of confidence for the island economy, Mauritius’ status as a financial hub has been reinforced by Patience Matshe of the PTA Bank, or the Eastern and Southern African Trade and Development Bank, which is the financial arm of COMESA.
Matshe, Director of Funds Management and Mauritius Office, PTA Bank, noted that Mauritius is a hub for catalysing capital and is being aided by strong governance structures.
Matshe, who recently attended the fourth edition of the Private Equity Conference held over 25-26 September, noted that the event aimed at reaffirming the position of Mauritius as the financial hub in the region.
The conference also served as a platform for investors in the private equity space to explore and discuss key projects in need of investment across emerging markets.
He added that the PTA Bank intends to invest about USD 1 billion in addressing the regional infrastructural deficit.
The need for this investment can be traced back to a recent report by the World Bank, where it was noted that the continent is lagging far behind in infrastructural projects.
According to the World Bank report, Africa has a deficit of about USD 90 billion a year for the next ten years.
Matshe went on to emphasize his company’s presence in the island economy, stating that PTA Bank is very active in Mauritius and has done a couple of projects in the island, with some having been completed.
“We were part of the Apollo Bramwell project and we are looking at funding some projects in the energy and fishing sectors,” he emphasized.
Matshe added that his company established its regional offices in the business-friendly country as it was ideal largely due to its financial services regulatory framework.
“We were looking at a place where we can station our regional office and Mauritius was the ideal place to do that because of its well-developed financial markets,” added Matshe.
“Mauritius is attractive because of support systems that you get as a financial hub for Africa and the regulatory environment is very strong as the financial sector has a very competent regulator,” he concluded.
Source: CNBC Africa