SADC Summit: Mauritius proposes its expertise to boost Africa investments
Mauritian Prime Minister Navin Ramgoolam has proposed the island economy’s expertise to boost investment on the African continent and also noted that Mauritius will participate in an accelerated economic integration programme with the support of the World Bank that aims at further promoting trade and investment in Africa. (Image: MBC)
Currently participating in the 34th Summit of the Southern African Development Community (SADC) Heads of State and Government in Zimbabwe, Mauritian Prime Minister Navin Ramgoolam has proposed the island economy’s expertise to accelerate investment on the African continent.
This call for an Expanded Africa Strategy focuses on four strategic pillars that are assets for Mauritius: its experience in democracy, good governance and development; accelerating regional integration; increasing economic opportunities for citizens; and its will to act as an investment catalyst for Africa.
“Mauritius has created an Africa Fund whose objective is to participate in financing enterprises willing to invest in viable projects in an African country,” said the Prime Minister with regards to the implementation of the Africa-focused strategy.
“The fund will also provide paid consulting services to both government and private entities in Africa in areas in which Mauritius has a competitive edge. The government’s decision to offer 50 scholarships to young Africans is an expression of our commitment to capacity building and development of develop human resources in the continent,” he added.
Navin Ramgoolam also announced that alongside the Seychelles, Malawi, Zambia and Mozambique, Mauritius will participate in an accelerated economic integration programme with the support of the World Bank.
This programme aims at further promoting trade and investment in Africa.
He also noted the decision of Mauritius and Seychelles to reach an agreement on sharing the continental shelf rather than engage in litigation that would have taken years to resolve, to prove that African countries can succeed if there is cooperation among them.
As was the case during the recent US-Africa Leader’s summit in Washington, the Prime Minister once again insisted on good governance and legal structures as conditions for creating a safe environment to attract direct foreign investment in Africa.