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Update on the Captive Insurance Act 2015 |
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| In our January 2016 newsletter, we informed our readers that the Captive Insurance Act (the “Act”) was presented to parliament and voted on the 11th December 2015 though not effective yet at that time.
The Act has now been proclaimed effective as from the 29th January 2016.
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Sub-Saharan Africa Resilience to External Shocks Index: Mauritius ranked 1st |
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Frontier Strategy Group developed the Sub-Saharan Africa Resilience to External Shocks Index (RESI) which aims at assessing the socioeconomic fundamentals and internal strength of countries in the Sub-Saharan Africa region when encountering external shocks.
Several factors are taken into consideration in this assessment including political stability, trade exposure, economic diversification, wealth, and productivity.
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Africa Visa Openness Index: Mauritius in the top 10 |
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| The African Development Bank (AfDB) has launched the first Africa Visa Openness Index earlier this month in collaboration with McKinsey & Company and the World Economic Forum Global Agenda Council on Africa.
As African countries join forces to be seen as “one-Africa”, this Index measures the ease with which Africans can visit other countries on the continent.
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| Bahrain: Mauritians now eligible to apply for eVisas |
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| As part of its new visa policy, Bahrain has now introduced eVisas to the nationals of eleven African countries including Mauritius. Mauritians can now apply for their eVisas on the Bahrain’s government website (http://www.evisa.gov.bh/) prior to their travel.
Bahrain will also be implementing improved individual screening process which will render the visa application process less cumbersome and more efficient.
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Bank of China to open a Mauritius Branch |
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The Bank of China (BoC) is set to open a branch in Mauritius later this year in the Jinfei economic zone at Riche Terre, situated in the north-west region of the island. This will be the 3rd branch that will be set up in Africa as BoC already has offices in South Africa and Morocco.
The aim of the BoC is to provide financial aid and assistance to Chinese investors and also to use Mauritius as a financial conduit into Africa.
Source: l’express newspaper dated Wednesday 17th February 2016
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Visit of Chinese Minister of Foreign Affairs to Mauritius |
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| H.E. Mr Wang Yi, Minister of Foreign Affairs of the People’s Republic of China, visited Mauritius at the beginning of February and met with officials of the Government of Mauritius including the Prime Minister, Sir Aneerood Jugnauth as well as the Head of State, Hon. Dr. Ameenah Gurib-Fakim.
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Visit of Ms Julia Gillard - Ducere Chancellor and former Prime Minister of Australia |
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| Ms. Julia Gillard, will be visiting Mauritius from 19th to 22nd February 2016. A number of events have been scheduled during Ms. Gillard’s visit including the official launch of the MBA (Innovation & Leadership) Program by Ducere and the promotion of a booklet entitled 'African Children's Stories'.
Intercontinental Trust Limited is one of the MBA Industry partners of the joint Ducere-University of Mauritius MBA Program.
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MCCI Business Confidence index: rise of 6% |
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A rise of 6.0% (5.3 percentage points) was observed on the latest MCCI Business Confidence Index released by the Mauritius Chamber of Commerce and Industry and covering Q4 2015.
The 23rd edition of the Business Confidence Indicator (BCI) was released by the MCCI on Thursday 11th February 2016. It is the highest increase registered since the Q3 2012.
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FSC launches the Online Data Capture System (ODCS) |
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| On 12 February 2016, the Financial Services Commission Mauritius (FSC) launched the ODCS. The ODCS will facilitate financial data collection, compilation and analysis through online submissions in line with the commitment of the FSC to adhere to the best international statistical practices.
A login credential will be provided to all management companies and other relevant licensees to enable them to submit their respective data.
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DISCLAIMER The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.
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