Minister Seeruttun highlights opportunities for investors to unleash potential of Africa

Mauritius: The opportunities for the investor community to unleash the potential of the African Continent were highlighted today, by the Minister of Financial Services and Good Governance, Mr Mahen Kumar Seeruttun, during the opening of the sixth edition of the Pension Funds and Alternative Investments Africa Conference at Le Méridien Hotel in Pointe aux Piments.

The two-day conference, organised by AMETrade, aims to provide a common platform to share opportunities for the investor community. It brings together more than 200 delegates from across 15 countries with over 40 prominent speakers. The theme retained is ‘Responsible Investing and Diversification Strategies in a Low Interest Environment’.

The Managing Director of the AMETrade, Mr Mahad Ahmed; the President Emeritus and Group Managing Director of the Trade and Development Bank Group, Mr Admassu Tadesse; the Deputy Director and Head of Syndications of the Africa Finance Corporation, Mr Wola Asase; and other personalities were also present at the opening ceremony.

In his keynote address, Minister Seeruttun emphasised that investors are moving focus to Africa to tap into a booming consumer market where investments can find long-term value. By 2030, he remarked, Africa will be home to 1.7 billion people, with business and individual spending forecast to be USD 6.7 trillion.

The Minister spoke of the important role of Mauritius for cross-border investments into Africa and pointed out that the Mauritius International Financial Centre is key to driving quality foreign direct investments in the Continent. He underscored that the investment from Mauritius into Africa represents 9% of overall foreign investment into the Continent.

“Our mantra, Mauritius for Africa, will continue to fulfil its promise of delivering on Africa. We Want as envisioned in the African Union Commission’s 2063 Agenda”, he observed. The shift to more productive, sustainable, and equitable growth through investment in new green and digital technologies was also underlined by the Minister.

Furthermore, Mr Seeruttun spoke of the introduction of special tax regimes and the recent launch of the Variable Capital Companies, an attractive structure for various types of funds. “The Ministry is currently working on an Environmental, Social and Governance Framework for Africa to give investors reassurance and enhance trust in our jurisdiction”, he added.