World Happiness Report 2018: Mauritius ranks 1st in Africa and 55th worldwide
Newsletter Published on 30 April 2018
The World Happiness Report 2018 ranks Mauritius 1st in Africa and 55th worldwide. With a score of 5,981 points, Mauritius has taken the first place in Africa, moving from its second place last year and overtaking Algeria which was then in top positio...
Read ArticleMauritius updates data protection legislation to align with GDPR
Newsletter Published on 30 April 2018
Privacy is considered to be an international fundamental human right and it has become imperative for us to protect it given its vulnerable nature. The GDPR was adopted by the European Union in 2016, with the aim to better protect EU...
Read ArticleMauritius and China kick-off FTA talks
Newsletter Published on 30 April 2018
Earlier this month, Mauritius and China kicked off the first round of negotiations on the Mauritius-China Free Trade Agreement (FTA) at Balaclava, Mauritius. The first ever FTA between China and an Africa State, this agreement will n...
Read ArticleMauritius’ FSC and UK’s FCA sign MoU
Newsletter Published on 30 April 2018
The Financial Services Commission (FSC) of Mauritius and the Financial Conduct Authority (FCA) of the United Kingdom signed a Memorandum of Understanding (“MoU”) on 10th April 2018. The MoU establishes a formal framework for mutu...
Read ArticleFDI to Mauritius rises to MUR 14.2 billion in 2017
Newsletter Published on 30 April 2018
The Bank of Mauritius (BOM) has recently released the foreign direct investment (FDI) statistics for the year 2017. Inward FDI to Mauritius has surged to MUR 14.2 billion, representing an increase of 4.4% compared to the previous year. ...
Read ArticleMoody’s maintains Mauritius Baa1 credit rating
Newsletter Published on 30 April 2018
Moody’s published its annual Credit Analysis report on Mauritius on 27th March 2018. According to this report, the internationally reknown credit agency maintains Mauritius’ very good performance rating of ‘Baa1’ and qualified the Mauritius...
Read ArticleIndex of Economic Freedom: Mauritius first in the Sub-Saharan Africa region
Newsletter Published on 30 April 2018
The Heritage Foundation has released the Index of Economic Freedom for 2018. In this 24th edition of the international index, Mauritius is classified as the 21st freest economy out of 128 countries worldwide, and comes 1st among the 47 countries of t...
Read ArticleMonetary Policy Committee maintains Key Repo Rate at 3.50%
Newsletter Published on 30 April 2018
The Monetary Policy Committee (MPC) of the Bank of Mauritius decided to keep the key repo rate (KRR) unchanged at 3.5%, at its meeting held on 28th February 2018. This decision was taken after consideration of various elements. The M...
Read ArticleFDI into India: Mauritius remains the first source with USD 13.3 for the period April-December 2017
Newsletter Published on 30 April 2018
According to a recent release from the Department of Industrial Policy & Promotion (DIPP) of the Ministry of Commerce and Industry of India, Mauritius remains the first source of FDI to India for the period from April to December 2017. Mauritius thus...
Read ArticleMauritius-China Free Trade Agreement: Signature of MoU to launch negotiations
Newsletter Published on 12 February 2018
In view to launch negotiations for a Mauritius-China Free Trade Agreement, the Ministry of Foreign Affairs, Regional Integration and International Trade of Mauritius and the Ministry Commerce of the People’s Republic of China signed a Memorandum of...
Read ArticleEconomic Development Board officially operational
Newsletter Published on 12 February 2018
Further to the proclamation of the Economic Development Board Act 2017, the Economic Development Board (EDB) was officially set up on Monday 15th January 2018. The former institutions known as the Board of Investment, Enterprise Mauritiu...
Read ArticleEIU Democracy Index 2017: Mauritius ranked 16th worldwide and 1st in Africa
Newsletter Published on 12 February 2018
According to the Democracy Index released by the Economist Intelligence Unit (EIU) released on 31st January 2018, Mauritius ranks 16th out of 167 countries worldwide, and 1st in Africa. Thus, Mauritius gains two ranks this year compa...
Read ArticleFinancial Services Industry Highlights
Newsletter Published on 12 February 2018
According to the latest Performance Highlights released by the Financial Services Commission (FSC), as at 30th November 2017, there has been an increase in the number of Global Business Companies (GBCs) on register, with a total of 21,435 compared to...
Read ArticleSBM Holdings: First foreign bank to be granted a Wholly Owned Subsidiary Licence by the RBI
Newsletter Published on 12 February 2018
SBM Holdings, one of the main local banks in Mauritius, has successfully applied for and been granted a Wholly Owned Subsidiary Licence, for the operation of a subsidiary in India, by the Reserve Bank of India (RBI). It was previously operating as a...
Read ArticleRegulatory committee for Fintech and Innovation launched at the Financial Services Commission (FSC)
Newsletter Published on 12 February 2018
The Mauritius International Financial Center has gained a solid reputation as a well-regulated and transparent jurisdiction, and in a continuous effort to maintain the Mauritius International Financial Center as a leading jurisdiction worldwide, the ...
Read ArticleFDI to Mauritius increase to MUR 12.3 billion (January-September 2017)
Newsletter Published on 12 February 2018
The latest statistical release from the Bank of Mauritius (BOM) reveals a surge in inward Foreign Direct Investment (FDI) to Mauritius for the first three quarters of 2017, with FDI inflows reaching a total of MUR 12.3 billion. This amount represents...
Read ArticleThe SelfKey Foundation obtains a Regulatory Sandbox License in Mauritius
Newsletter Published on 12 February 2018
Selfkey, a blockchain-based digital identity firm which allows exchange of information, transactions, and crypto currency portfolios to have their database of verified documents and to keep sensitive information secure, has been granted a Regulatory ...
Read ArticleBOI wins the United Nations Awards for Promoting Investment in Sustainable Development Goals
Newsletter Published on 21 December 2017
The Board of Investment (BOI) of Mauritius won the United Nations Awards for Promoting Investment in Sustainable Development Goals at a reception organised by the Investment Commission of the United Nations in Geneva, Switzerland, on 20th November 20...
Read ArticleMauritius and Russia strengthen cooperation
Newsletter Published on 21 December 2017
An official Mauritian delegation, headed by the Mauritian Minister of Foreign Affairs, visited Russia at the end of November 2017, at the invitation of Russian Minister of Foreign Affairs, Sergue? Lavrov. The objective was to boost the economic and f...
Read ArticleEconomic Development Board – Appointment of Chairperson
Newsletter Published on 21 December 2017
The Chairperson of the Economic Development Board (EDB) has been appointed in the person of Mr Joseph Charles Cartier on 20th November 2017. The EDB, an initiative that was announced in the Budget Speech 2017/2018, is a new entity wh...
Read ArticleMeasuring the Information Society Report 2017: Mauritius ranks 1st in Africa
Newsletter Published on 21 December 2017
According to the 9th edition of the Measuring the Information Society (MIS) Report published by the International Telecommunication Union and released on 15th November 2017, Mauritius ranks 1st in Africa and 72nd worldwide in the ICT development Inde...
Read ArticleEU Blacklist
Newsletter Published on 14 December 2017
A new EU list of non-cooperative jurisdictions for tax purposes (the “EU Blacklist”) was validated at the recent gathering of the Economic and Financial Affairs Council (ECOFIN) held on 5 December 2017. In a bid to combat tax malprac...
Read ArticleFDI into India: Mauritius tops the list once again
Newsletter Published on 14 December 2017
Mauritius reconfirms its position as top source of FDI to India, ahead of Singapore. Indeed, from April to September 2017, USD 11.5 billion transited through the Mauritius jurisdiction to India. According to the figures released by the Department of ...
Read ArticleGrowth of 4.4% for 2018 expected by MCCI
Newsletter Published on 14 December 2017
According to recently released forecasts of the Mauritius Chamber of Commerce and Industry (MCCI), economic perspectives for Mauritius should see an improvement next year. Indeed, the Mauritian economy is expected to see a growth of 4.4% in 2018. The...
Read ArticleBank of Mauritius maintains repo rate at 3.5%
Newsletter Published on 14 December 2017
The Monetary Policy Committee (MPC) met on 29th November 2017 and decided to maintain the repo rate at 3.5%. This rate will prevail until the Committee’s next meeting scheduled for 28th February 2018. The MPC’s principle function is...
Read ArticleParadise Papers: The FSC defends the Mauritius jurisdiction
Newsletter Published on 14 December 2017
In the context of the release of the Paradise Papers, the Financial Services Commission (FSC) published a press communique on 28th November 2017. The FSC reiterated that Mauritius has always been a transparent and collaborating jurisdiction that adhe...
Read ArticleMo Ibrahim Index 2017: Mauritius ranks First in Overall Governance in Africa
Newsletter Published on 14 December 2017
The recently released Mo Ibrahim Index 2017 of African Governance ranks Mauritius first in Africa. Mauritius achieved the highest overall score (81.4) out of a total of 53 African countries. The country is followed by Seychelles with a score of 73.4,...
Read ArticleGlobal Competitiveness Report 2017/2018: Mauritius in leading position in Sub-Saharan Africa
Newsletter Published on 09 November 2017
Mauritius tops the list as most competitive country in the Sub-Saharan Africa region for the fourth consecutive year, according to the Global Competitiveness Report 2017/2018, published by the World Economic Forum on 27th September 2017. Mauritius ra...
Read ArticleThe SEM wins the “Most Innovative African Stock Exchange for 2017”
Newsletter Published on 09 November 2017
The Stock Exchange of Mauritius (SEM) won the "Most Innovative African Stock Exchange of the year Award" at the Ai Institutional Investment Summit and Capital Markets Index Series Awards 2017 organised by the Africa investor (Ai), a leading internati...
Read ArticleParadise Papers: Mauritius Prime Minister releases official statement
Newsletter Published on 09 November 2017
The release of the Paradise Papers earlier this week took the whole media world by storm. The so-called “Paradise Papers” is the term coined by investigative journalists to refer to the leakage of seven decades' worth of information representing ...
Read ArticleState Visit of the Seychelles President to Mauritius
Newsletter Published on 09 November 2017
The President of Seychelles, H.E. Danny Antoine Rollen Faure headed a high level delegation of 23 members on an official visit to Mauritius from 26th to 28th October 2017. It is to be noted that the Presidential visit was preceded by the ...
Read ArticleDoing Business Report 2018: World Bank ranks Mauritius 25th worldwide, 1st in Africa
Newsletter Published on 09 November 2017
Mauritius has been ranked 25th out of 190 countries by the World Bank’s Doing Business Report 2018. From the last edition of the report, Mauritius’ score increased from 75.45 to 77.54, a progress of 2.09 points, which indicates improvements in t...
Read ArticleFirst Edition of the Mauritius Cinema Week successfully held
Newsletter Published on 09 November 2017
The first edition of the Mauritius Cinema Week successfully took place from 5th to 8th October 2017. The theme for this first edition was ‘East meets West’, a reference to the cultural melting pot represented by the rainbow island ...
Read ArticleMauritius and Micronesia establish diplomatic ties
Newsletter Published on 09 November 2017
The Republic of Mauritius and the Federated States of Micronesia formally established diplomatic relations on 10th October 2017, through the signature of a Joint Communiqué. As Small Island Developing States (SIDS), the two countrie...
Read ArticleBenchmarking visit by African Francophone delegation to Mauritius
Newsletter Published on 09 November 2017
Mauritius is further strengthening its ties with Francophone African countries and positioning itself as a platform for doing business with Africa. A delegation of Francophone African countries comprising re...
Read ArticleAir Mauritius welcomes new A-350 900 to its fleet
Newsletter Published on 09 November 2017
Air Mauritius welcomed the latest member of its fleet, an A-350 900 Airbus, a jewel of new technology and the first aircraft of its kind in the Indian Ocean. The aircraft has been named "Le Morne Brabant" after the island nation's iconic and histori...
Read ArticleMauritius residency schemes – the new ‘Innovator OP’ and other amendments
Newsletter Published on 09 November 2017
Mauritius is open to foreign investment and already offers attractive residency permit schemes, with the aim to bring foreign direct investment and expertise to the country. The Government of Mauritius has recently updated and brought changes to the ...
Read Article4AX – New Bourse successfully launches inaugural two listings
Newsletter Published on 04 October 2017
As mentioned in past issues of our newsletters, ITL is one of the proud promoters of 4 Africa Exchange Proprietary Limited (4AX), a groundbreaking new bourse for which an exchange licence was successfully filed and obtained from the Financial Service...
Read ArticleJapan sets up embassy in Mauritius
Newsletter Published on 20 September 2017
Japan set up an embassy in Mauritius earlier this year and the country’s first resident ambassador to Mauritius, Mr Yoshiharu Kato, has now taken office in Port Louis. Mauritius and Japan established diplomatic relations in 1969. ...
Read ArticleGlobal Financial Centres Index : Mauritius first international financial destination in Africa
Newsletter Published on 20 September 2017
The twenty-second edition of the Global Financial Centres Index (GFCI) was published on 11th September 2017. This publication ranks Mauritius as best international financial centre in Africa. Mauritius has gained two places compared to the previous e...
Read ArticleSaudi Arabian Airlines launches flights to Mauritius
Newsletter Published on 20 September 2017
Saudi Arabian Airlines (Saudia) started operating flights to Mauritius on 14th September 2017. The three-times-weekly flights operates from Riyadh to Mauritius with a brief one hour stop in Jeddah, taking 9 hours from Riyadh and 7 hours 20 minutes fr...
Read ArticleRegulatory Sandbox Licence – ITL proud to be associated with 2nd issue of RSL by the BOI
Newsletter Published on 20 September 2017
The Regulatory Sandbox Licence (RSL) is an initiative proceeding from the Mauritius 2016/2017 National Budget. The RSL regulation was promulgated under the Investment Promotion Act in October last year and the relevant guidelines were subsequently p...
Read ArticleBank of Mauritius wins ‘Best Central Bank Governance – Indian Ocean 2017’ award
Newsletter Published on 20 September 2017
The Bank of Mauritius (BoM) has been conferred ‘Best Central Bank Governance – Indian Ocean 2017’ by the London-based Capital Finance International (CFI.co) magazine. The judging panel lauded the BoM’s commitment to technolog...
Read ArticleIMF Staff completes 2017 Article IV Mission to Mauritius
Newsletter Published on 20 September 2017
An International Monetary Fund mission led by Amadou Sy, advisor for the development of the African continent, visited Mauritius from 21st July to 31st August 2017. This visit took place on the context of regular consultative meetings held with the I...
Read ArticleCyber Security – Mauritius ranks 1st in Africa and 6th worldwide
Newsletter Published on 20 September 2017
The recently released Global Security Index (GCI) 2017 ranks Mauritius 1st in Africa and 6th worldwide. These rankings reconfirm the strong positioning of Mauritius in the area of cyber security and as one of the safest places for doing business. ...
Read ArticleFDI to Mauritius progresses 22.2% for first semester 2017
Newsletter Published on 20 September 2017
The Bank of Mauritius has released the latest figures on FDI inflows into Mauritius for the first semester of 2017. FDI to the island is estimated at MUR 9.7 billion (approximately USD 278 million), representing an increase of 22.2% compared to the c...
Read ArticleUnicity – Medine’s Smart City launched
Newsletter Published on 20 September 2017
The Medine Group launched its Smart City project on 7th September. ‘Unicity’ will be developed on 823 acres of land and will comprise residential, business, leisure and educational components, developed along a Live-Work-Enjoy-Learn approach. ...
Read ArticleKey Repo Rate brought down to 3.50%
Newsletter Published on 20 September 2017
The Monetary Policy Committee (MPC) of the Bank of Mauritius brought down the Key Repo Rate from 4.00 % per annum to 3.50 % per annum, with effect from 6th September 2017. This decision was taken after weighing the risks to growth and inflation. ...
Read ArticleDirect flights to be launched from Amsterdam to Mauritius
Newsletter Published on 20 September 2017
As from 30th October 2017, KLM Royal Dutch Airlines will operate a direct flight from Amsterdam to Mauritius in cooperation with Air Mauritius. Through this partnership, KLM and Air Mauritius will offer their customers with a year-rou...
Read ArticleFirst Mauritius International Film Festival to be held in October 2017
Newsletter Published on 20 September 2017
The Board of Investment in collaboration with Air Mauritius, the Mauritius Tourism Promotion Authority and the Mauritius Film Development Corporation, will organise the very first edition of the Mauritius International Film Festival next month. ...
Read ArticleUpcoming Hollywood blockbuster to be shot in Mauritius
Newsletter Published on 18 May 2017
As previously communicated to our readers in a past edition of our newsletter, the Government of Mauritius, through its investment promotion agency – the Board of Investment (BOI), is actively promoting the island as an attractive filming destinati...
Read ArticleFSB grants exchange licence to 4AX
Newsletter Published on 02 September 2016
In our March 2015 newsletter, we informed our valued readers of ITL’s groundbreaking initiative to file an application with the Financial Services Board (FSB) alongside a consortium of other stakeholders including Bravura, Tri...
Read ArticleProtocol amending the India-Mauritius Double Taxation Avoidance Agreement (DTAA)
Newsletter Published on 19 August 2016
In a previous edition of our newsletter, we informed our readers that a protocol amending the India-Mauritius DTAA was signed by both Contracting States on 10th May 2016 (the “Protocol”). The Protocol has...
Read ArticleFATCA Reporting deadline extended to 31 August 2016
Newsletter Published on 29 July 2016
As per the Model-1 Intergovernmental Agreement signed between Mauritius and the US, all Mauritius Financial Institutions shall report certain information on identified US Reportable Accounts to the Mauritian Competent Authority, i.e. the Maur...
Read ArticleNRI 2016: Mauritius maintains top spot in Africa
Newsletter Published on 29 July 2016
The World Economic Forum recently released the Global Information Technology Report 2016 (the “Report”) which measures the drivers and the progress of the information and communication technologies across 139 countries through the Network...
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