Mauritius |

CIM Financial of Mauritius Sees Global Unit Sale Boosting Credit Business

PORT LOUIS (Capital Markets in Africa) – CIM Financial Services Limited., which has operations spanning Mauritius and Singapore, plans to focus on developing its consumer-credit and real-estate businesses after selling off its Global Business unit. The company, based in Port Louis, announced earlier on Tuesday that it’s selling its Global Business unit — which offers corporate, trust and fiduciary services — to Luxembourg-based SGG SA for $90.3 million. The deal “will allow CIM to benefit from an important…

Mauritius Eyes Asia, Far East for Its Financial Services

Posted on by The Editorial Team

Mauritius plans to sell itself as a world class financial-services hub to investment companies in Asia and the Far East to win new business, an official said. The island nation’s Financial Services Promotional Agency plans to market the country as an international financial center, or IFC, and is already collaborating with the City of London, according to Chief Executive Harvesh Seegolam. International fund managers domiciled in Mauritius were the source of $139.3 billion in portfolio…

Bank of Mauritius cuts the Key Repo Rate by 25 basis points to 4.40 per cent

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Port Louis, Capital Markets in African — The Monetary Policy Committee (MPC) of the Bank of Mauritius (Bank) has unanimously decided to cut the Key Repo Rate by 25 basis points to 4.40 per cent per annum to boost domestic economic activity, at its meeting on Monday 9 November 2015. The Key Repo Rate had been kept at 4.65 percent since June 2013 when it was reduced by 25 basis points from 4.9 percent. See…

Moody’s: Mauritius’s diversified and resilient economy support rating; fiscal challenges

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Port Louis, Mauritius (Capital Markets in Africa) — Mauritius’s small yet diversified economy, good record of attracting investment and its resilience against external shocks underpin its Baa1 (Stable) government bond rating, Moody’s Investors Service said in its latest credit analysis of the country published this week. The Mauritian authorities’ key challenges are to continue to foster domestic and foreign investment, maintaining the country’s financial stability and consolidating the public finances to help meet its government…

Mauritius’ budget deficit to widen to 3.2 pct in 2015/2016

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PORT LOUIS (Reuters) – The Mauritius budget deficit for fiscal year 2015/2016 (July-June) is forecast to widen to 3.5 percent of gross domestic product from 3.2 percent in the year 2014 (Jan-Dec), the finance minister said on Monday. In a budget speech to parliament, Finance Minister Seetanah Lutchmeenaraidoo also said the Indian Ocean island’s economy will expand by 5.3 percent in the 2015/2016 fiscal year, above an estimated 3.5 percent expansion in 2014 (Jan-Dec)….

Mauritius foreign direct investment jumps 48.7 pct in 2014

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PORT LOUIS (Reuters) – Foreign direct investment in Mauritius grew 48.7 percent in 2014 to 14.15 billion rupees ($388.20 million), thanks to investment in real estate, hotels and restaurants, official data showed on Friday. Foreign investment in real estate led with a total of 6.17 billion rupees, the central bank said. Hotels and restaurants accounted for 4.89 billion rupees. France was the biggest source of investment with 3.48 billion rupees. Famed for its white sand…