The Financial Services Commission (FSC) of Mauritius recently released communication on the high level delegation led by Mr. Dev Manraj, Financial Secretary who is currently in the United Kingdom and met with representatives of the Foreign and Commonwealth Office (FCO) on 5 October 2017. Mr Tim Morris, Senior Trade Advisor for Africa at the Department for International Trade and his team, held working sessions with the FCO regarding the Africa strategy implemented by the Government of Mauritius to encourage business opportunities in Africa to expand the economic space. Discussion also led to composing Special Economic Zones to accommodate investment and operations especially in Ghana, Madagascar, Senegal, Gabon and Ivory Coast. The comparative advantages of using Mauritius as an investment corridor between the United Kingdom and the rest of Africa was advocated by the delegates.
The FCO welcomed the initiatives of the Mauritian Government to further implement the Africa strategy and the FCO expressed their strong interest in a formal partnership with the Government of Mauritius. The policy decision of the Mauritian Government to harness the benefits of the Fintech revolution was well received and supported by Lord Anthony St. John, who is deriving the strategy for Africa on behalf of the House of Lords, during a courtesy meeting held at the House of Lords. Mauritius will establish the appropriate regulatory framework to positition itself as a Fintech Hub of Africa.