Mauritius: A strategic hub for expanding businesses in Africa
Rightly called the Pearl of the Indian Ocean, Mauritius is much more than a popular tourist destination. Over the years, the island has transformed into a strategic hub for businesses looking to expand in Africa. Thanks to its economic stability, favorable regulatory framework, skilled workforce and advantageous geographical position, the country offers a wide range of opportunities for foreigners seeking to grow and thrive in the African market.
A world-renowned financial hub
Today, Mauritius can boast a solid reputation as a leading international financial hub. The island is home to numerous financial institutions, from international banks to financial services companies, offering multiple banking, investment and wealth management services. Its recognized financial expertise has been attracting investors and facilitating business transactions with the rest of Africa.
Regional and international connectivity
Mauritius is an independent country that benefits from exceptional regional and international connectivity. Its international airport has direct links with numerous cities in Africa, Europe, Asia and the Middle East, facilitating business travel and trade. The island is also endowed with a modern, reliable telecommunications infrastructure, enabling seamless connectivity with the rest of the world.
A skilled, multilingual workforce
The island’s highly-skilled, multilingual workforce is a major asset for foreign entrepreneurs looking to expand their activities in Mauritius. Most Mauritians are bilingual, with a good command of English and French, facilitating communication with international business partners. What’s more, the country’s solid education system and vocational training institutions meet the needs of businesses in various sectors.
Attractive tax and regulatory advantages
Foreign entrepreneurs looking to invest in Mauritius can benefit from an attractive tax system and regulatory framework. The competitive tax regime is coupled with tax benefits on corporate income, dividends and capital gains. Besides, Mauritius has signed double taxation agreements (DTA) with numerous countries, guaranteeing protection against double taxation whilst promoting international trade.
Prominent sectors for investment
Mauritius provides numerous investment opportunities in promising sectors such as tourism, financial services, ICT (information and communication technologies), renewable energy, agro-industry and business services. These growth sectors symbolize high development and profitability potential for foreign entrepreneurs looking to start their businesses in Mauritius and expand their activities in the rest of Africa.
Business opportunities in Africa from Mauritius
The island is an ideal gateway to business opportunities in Africa. Mauritius offers foreign entrepreneurs a platform for establishing commercial partnerships and reinforcing their presence in Africa thanks to its geographical proximity to the continent and its in-depth knowledge of African markets. In addition, Mauritius has preferential trade agreements with several African countries to facilitate trade and boost investment.
Developing infrastructure and entrepreneurial ecosystem
Mauritius is committed to developing the infrastructure required for economic growth and business development. As a result, infrastructure projects such as industrial parks, free trade zones and business hubs are blooming across the island, offering modern spaces adapted to the needs of different types of businesses. The dynamic entrepreneurial ecosystem is also growing rapidly, with incubation programs, financial support and coaching services for entrepreneurs.
Free zones and industrial parks
The free trade zones and industrial parks are attractive to foreign companies looking to expand in Mauritius. Some of the benefits provided by such zones are tax incentives, import-export facilities, modern infrastructure and a qualified and skilled workforce. Moreover, companies operating in these zones are entitled to a conducive environment for growth and expansion, with efficient logistics services and competitive costs.
Public-private Partnerships for economic growth
Mauritius greatly encourages public-private partnerships to stimulate economic growth and promote investment. The Mauritian government works closely with the private sector to develop large-scale projects in key areas such as infrastructure, renewable energies, tourism and agribusiness. These partnerships strengthen the business environment and create opportunities for foreign investors to contribute to the island’s sustainable economic development.
Magellan is here to assist you in moving to Mauritius and developing your business. Get in touch with our team for more information about our services.