In the wake of Mauritius’ 50th anniversary of Independence back in March, we reflect on what the country has to offer African energy investors in 2018…
Mauritius has enjoyed numerous accolades within the business community of late. In 2018 it was ranked 25th out of 190 countries in the World Bank ‘Ease of Doing Business’ report, taking first place in Sub-Saharan Africa. It also came out as top African country in the World Economic Forum’s 2017-18 Global Competitiveness Index.
The country’s location in the Indian Ocean has long positioned it as an attractive stepping stone for investments with China and Asia- the country has been the largest source of Foreign Direct Investment (FDI) in India for many years- but many other factors have contributed to Mauritius’ growing reputation as a stable & competitive investment hub. Investment Protection & Promotion Agreements (IPPAs) and Double Taxation Treaties together with economic & social stability, robust communications, and a skilled workforce have emboldened investors to take advantage of this offshore financial hub.
Nearly 40% of all Africa-focused private equity funds were domiciled in the country in 2014, with statistics indicating that Mauritius’ growing financial sector is responsible for a significant portion of all FDI flowing into Africa.
The country boasts 100% energy access with plans to increase renewable sources to account for 35% by 2025. The Mauritius Renewable Energy Agency (MARENA) was set up in 2016 to oversee the development of renewable projects.
These benefits led to Mauritius being chosen as the next location for the Africa Energy Forum (www.Africa-Energy-Forum.com), celebrating its 20th anniversary from 19-22 June 2018. The Forum brings together 2,000 decision-makers from the energy value chain to form partnerships and make decisions at the highest level on how to move the sector forward.
The Forum’s theme ‘Reflections on the last 20 years’ will celebrate the achievements of the AEF community over two decades. Participants who supported the first years of the conference will return to reflect on how the sector has evolved and discussed developments likely to shape the industry over the next 20 years. Leading organizations will document outcomes to assemble a reference document with action points for the next two decades.