The Economic Development Board of Mauritius is leading a group made up of private players on a multi-sectoral roadshow to Johannesburg, Cape Town, Gqeberha, and Durban from May 8 to May 16, 2023, to fortify business ties with South Africans.
The delegation’s members is meeting with company executives, people, entrepreneurs, and top-tier investors wanting to take advantage of Mauritius’ advantages as a neighbor, including a wealth growth rate that is predicted to rise by 75% over the following ten years.
The Trade & Investment Roadshow in South Africa includes business forums promoting Mauritius as a retirement destination as well as real estate, financial services, and manufacturing investment opportunities. Additionally, the EDB is holding Buyers and Sellers meetings in Johannesburg and Cape Town that will serve as the ideal forum for bringing together enterprises from South Africa and Mauritius.
Mr. Hemraj Ramnial, Chairman of the Economic Development Board, shared his opinions and insights in an interview with Zanele Morrison of CNBC Africa.
Over the years, South Africans have become more and more interested in investing in, relocating to, or retiring to Mauritius. In addition to the allure of an exotic island lifestyle, it is renowned for its investor-friendly tax structure, adherence to the rule of law, tranquility, and security, as well as a number of incentives to draw businesses, visitors, retirees, and investors.
Mauritius, one of the continent’s most prosperous nations, had a GDP growth rate of 8.7% and a per-capita GNI of about US$11,400 in 2017.
This achievement, according to the Economic Development Board (EDB) of Mauritius, has not gone unnoticed by South Africans, who now make up more than a fifth (21%) of the country’s real estate investment market. In addition, South Africa has supplanted Europe as Mauritius’ top export market. South Africans rank the nation in their top five favored retirement locations worldwide.
The strength of the Mauritian economy as a hub for foreign investment has fueled growth throughout the rest of Africa, generating about 4.2 million employments across the African continent and bringing in about USD 80 billion in foreign investment to African economies through Mauritius.