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First Ocorian Forum explores vital role of Mauritius in enabling Africa's prosperity

First Ocorian Forum explores vital role of Mauritius in enabling Africa's prosperity

The first in a series of Ocorian Forums revealed the strength of Mauritius' role as a major partner to the UK and EU in facilitating economic growth in Africa.

The Forum, entitled 'The added value of the Mauritius International Financial Centre (IFC) for cross‐border business and investment in Africa', brought together financial services professionals from across Mauritius on Thursday January 24th at Ocorian's Mauritius offices in Ebene.

Despite Brexit, British High Commissioner to Mauritius, His Excellency Mr Keith Allan reassured attendees that there are new arrangements in place to ensure trade continuity with African signatories of Economic Partnership Agreements (EPAs). Mr Allan also announced a new UK investment promotion strategy in Africa supported by the Department of Foreign and International Development (DFID).

He said: “In light of our new Africa strategy, we are confident that Mauritius will serve as a reliable partner for the UK in terms of the development of new economic sectors within the continent.”

Allan was supported by CEO of Standard Chartered Bank Mauritius, Mathieu Mandeng, who said: “Mauritius is in pole position to create a partnership for shared prosperity with African countries,” adding that over and above technical expertise, Mauritius is helping Africa in other areas such as good governance.

The role of Mauritius as an integral international financial centre for African investment is also set to be boosted by the EU's External Investment Plan for Africa. Head of Cooperation at the European Union delegation to Mauritius and the Seychelles, Carla Osorio spoke of the innovative financing mechanisms designed to leverage private capital flows into the region.

Africa is also set to benefit from new prospects and investment agreements for investors as Mauritius' economic diplomacy helps to sustain emerging sectors on the continent, Mrs Usha Dwarka‐Canabady, Secretary for Foreign Affairs at the Mauritius Ministry of Foreign Affairs, Regional Cooperation and International Trade, announced.

She also discussed the new possibilities of cooperation with African carriers to enhance connectivity to and from Mauritius, as well as ongoing projects involving Mauritian companies.

Although progress was positive over the discussions, CEO of Skylar Investments Ltd. Louis Nallet added that Mauritius should keep improving its offering as an international financial centre, providing even more value‐added services to investors and businesses.

There were also addresses from both Richard Arlove, Regional CEO AMEA of Ocorian, and Stuart Layzell, the new CEO of the Ocorian Group. They highlighted the pivotal role of Mauritius in Ocorian’s Africa strategy and stated the importance of the Forums for providing industry stakeholders with avenues for thought that will help shape the Mauritius IFC.

For a interactive take on proceedings, hear Richard talk about the purpose of the Forum below.

Ocorian help clients across the corporate, fiduciary, funds, institutional and private wealth sectors to build enterprise and investor value through the use of IFCs. You can learn more about our International Growth Advisory and Services here.

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