Mauritius: The second Investors Conference of Co-op Trust Investment Services Ltd on Alternative Investments “private equity” opened this morning at the Ambre Resort Mauritius in Belle Mare. The Minister of Financial Services and Good Governance, Mahen Kumar Seeruttun, and other personalities were also present.
In his keynote address, Minister Seeruttun indicated that it is an honour to welcome the top minds from the industry on a common platform to share exclusive opportunities and headwinds for the investor community.
“From Pension Scheme Trustees, Pension Scheme Secretariats, Kenyan Pension Scheme Stakeholders, and fund managers, this grouping demonstrates the growing interest for investments into private equity,” he stated.
The Minister highlighted that confidence placed by financial institutions in Mauritius remains strong in the international marketplace. “We are now working on new imperatives to give comfort to investors so that funds channelled through Mauritius come with sustainability credentials,” he said.
Moreover, Seeruttun underlined that Mauritius prioritises sustainable development in a bid to ensure that our economic activities are environmentally friendly and socially responsible.
On this note, he announced that the new Environmental, Social, and Governance Framework that will serve to attract investor interest will soon be presented.
Regarding the Mauritius International Financial Centre, Minister Seeruttun observed that it is remarkably attributed as a sophisticated and transparent financial hub operating under robust regulations.
In addition, he pointed out that as a signatory to the multilateral Base Erosion and Profit Shifting Convention, Mauritius actively addressed tax avoidance by multinational enterprises and made a firm commitment to revise our existing tax treaties through bilateral negotiations.
Minister Seeruttun further outlined some measures crafted in the National Budget 2023-2024 for the financial sector to improve the ease and cost of doing business and review the attractiveness of some of our financial services products.
These are: the abolition of the Solidarity Levy to ensure that we maintain our attractiveness for high-skilled workers and; an increase in the partial exemption granted in respect of interest earned by a Collective Investment Scheme or a Closed-End Fund established in Mauritius from 80 % to 95 %.
Moreover, he indicated that the country has strengthened its anti-money laundering and counter-terrorism financing (AML/CTF) measures by implementing comprehensive legislation, establishing robust supervisory bodies, and enhancing cooperation among relevant authorities.
The Minister further stressed the indisputable fact that Mauritius holds the top ranking in the African region in numerous accolades, notably in: The World Bank’s Doing Business Report 2020; the Global Innovation Index 2022; the 2022 Mo Ibrahim Index of African Governance; the Economist Intelligence Unit’s Democracy Index 2022; the International Property Rights Index 2022 and; the 2023 Index of Economic Freedom of the Heritage Foundation.
Mauritius, he emphasised, demonstrates a resolute dedication to upholding tax transparency. Today, Mauritius pledges to utilise all its financial capabilities to promote investment and trade financing in Africa. It will continue to fortify our traditional advantages and open up new frontiers with innovative and highly competitive products and services, Seeruttun added.
On this score, the Minister observed that Mauritius is a platform of choice for onward investments across the African continent and offers seamless service to Mauritius-domiciled and foreign Fund structures. On this score, he invited the stakeholders present to come and do business with Mauritius as it is a credible Funds Jurisdiction offering end-to-end solutions to Fund Clients.