The Economic Development Board (EDB) and the South African Chamber of Commerce in Mauritius (SACCM) collaborated to host a joint event aimed at informing South African businesses based in Mauritius, about new business facilitation initiatives and fresh investment opportunities in Mauritius. Her Excellency Dr. Hlamalani Nelly Manzini, the High Commissioner of the Republic of South Africa in Mauritius honored the event with her presence.
Mr. Sachin Mohabeer, Deputy CEO at the EDB Mauritius had set the stage with a presentation outlining the new development strategy of Mauritius which builds upon its already solid business ecosystem. The country boasts a business-friendly environment, an excellent ease of doing business ratings, and a basket of well-thought incentives to encourage investors to establish their businesses in the country. Mauritius also serves as a strategic springboard for investors looking to expand their footprint into Africa, particularly through the Mauritius Financial Services Sector (MIFC) and the network of agreements with African countries which facilitates market access and fosters opportunities for investment across the continent.
Through these dialogues, key stakeholders can explore avenues to streamline processes, address challenges, and identify potential areas for reinvestment in Mauritius. The exchange of ideas and insights during these discussions can lead to strategic partnerships, investment opportunities, and sustainable business practices that benefit both parties involved.
Establishing a South African business presence in Mauritius can be a strategic move due to Mauritius’s favorable tax regime, strategic location, and business-friendly environment. This can offer several advantages including tax benefits, access to international markets, and a supportive ecosystem for business growth.
South Africans have shown a growing interest to work, live, invest, and trade with Mauritius, and the country’s strategic location provides easy access to markets in Africa, Asia, and the Middle East, making the country an ideal hub for businesses looking to tap into those regions.
Over the past decade, South Africa has been Mauritius leading source of FDI from Africa and among its top trading partner, representing over 14% of exports and 9% of imports. Portfolio investments derived from South Africa was estimated at USD 1.25 billion in 2021, making of South Africa one of the top 10 countries from which Mauritius derives investment flows. Additionally, South Africa ranks amongst the top three in terms of number of expatriates in Mauritius and the number of professionals and investors growing by more than two-folds over the last two years. Mauritius is also seen as an attractive destination for South African retirees, with the number of retired non-citizens growing to over 138 in 2022.
