The position of Mauritius as an IFC of choice for Chinese investments into Africa reinforced through the participation of the FSPA at the 21st Century 2016 Guangdong Maritime Silk Road Expo and Conference in Dongguan, Guangdong, from 27th to 30th October 2016.
Speaking on the immediate outcomes of the mission to Guangdong, Harvesh Seegolam, Chief Executive of the Financial Services Promotion Agency (FSPA), stated: "The FSPA engaged with a number of Guangdong-based enterprises that have existing investments in Africa, and/or looking at expanding their presence in Africa".
"We are positioning Mauritius as the destination of choice for the Africa-based Regional Headquarters of the Guangdong enterprises. Two large companies have already committed to use Mauritius as their shared financial services centre and will in the near future also shift a considerable amount of activities from their Johannesburg office into Mauritius".
The Mauritius International Financial Centre (IFC) and its various benefits as a destination for Regional Headquartering and Treasury Management activities were equally explained by Mr. Seegolam during a Business Forum organized on the theme 'Mauritius – Your Gateway to Africa', which attracted some 100 delegates attending the Expo and also saw the participation of Bank of China, Enterprise Mauritius, the Board of Investment and the Mauritius Film Development Council. The Minister of Industry, Commerce and Consumer Protection, Honourable Ashit Kumar Gungah, also delivered a keynote opening address during this forum.
A number of financial services companies from Mauritius formed part of the high level delegation visiting Guangdong during this mission, including the Bank of China (Mauritius), the State Bank of Mauritius, Tripro, ABC Banking Corporation, ABC Capital Markets and ABC Global, amongst others.
Mr. Swadicq Nuthay, newly-appointed Chief Executive Officer of ABC Capital Markets, stated that "it is important for the Mauritius IFC to tap into new markets that offer great potential for the diversification of our financial services platform. Together with the FSPA, we are discussing capital raising requirements with major Chinese corporates looking at diversifying their activities outside of China."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
