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Strengthening partnership with the African Development Bank

The African Development Bank organised a half day event on 24th October 2018 at the Labourdonnais Hotel, Port-Louis,Mauritius.  The main objective was to promote the first-ever Africa Investment Forum which will be held from the 7th to 9th November 2018 at the Sandton Convention Centre, Johannesburg.

In his opening speech at the event, Mr. Ken Poonoosamy, Deputy Chief Executive Officer of the Economic Development Board, reiterated the commitment of Mauritius to work in close collaboration with the African Development Bank (AFDB). He emphasized the fact that AFDB is an established partner of Mauritius, with its first initiative dating as far back as in 1975.  He also pointed out a total of 37 operations, in various sectors, have obtained approval till date.

He further highlighted that Mauritius has established and intensified linkages with most African nations and has developed a sound network of bilateral treaties. It is worth noting that Mauritius has signed 23 Investment Promotion and Protection Agreements (IPPAs) and 20 Double Taxation Avoidance Agreements (DTAAs) with African States, ensuring risk mitigation, investment protection and fiscal efficiency in the region. The frequent use of the Mauritian platform by international investment and private equity funds confirms the island’s position as the preferred jurisdiction for investing in Africa. Working with the AFDB gives an extra impetus to the Mauritius - Africa strategy and successful partnerships have been built on the solid foundations of the Mauritian platform.

The Deputy CEO, Mr. Ken Poonoosamy also underlined that the Africa Investment Forum is indeed a laudable initiative which provides a new perspective to do business and further accelerate the economic transformation of Africa.

On the other hand, representatives of AFDB provided an overview of African projects that are in need of financing and  highlighted that The Africa Investment Forum is a fully transactional platform dedicated to advancing private sector and public-private partnership projects to bankable stage, raising capital and reach financial close. The Africa Investment Forum will gather and connect key players, including project sponsors, financiers, senior Government officials, pension funds, sovereign wealth funds and other institutional investors, to bolster investment opportunities in Africa.

The Economic Development Board (EDB) will participate in the forthcoming Africa Investment Forum and will be represented by Mr. Francois Guibert, Chief Executive Officer, EDB who will showcase Mauritius as an investment destination.  The EDB will also occupy a dedicated booth at the forum.