BIZweek

13/07/2025

“By creating a viable biotech sector, we can retain our talent,” Dr Rattan Gujadhur, Biotechnology Head in the U.S.

“Mauritius can be a credible site for advanced preclinical/clinical research”

“Hosting key clinical trials would allow local patients access to innovative therapies.”

“Other economies like Rwanda, Botswana, Kenya, Nigeria and many others in the Africa east/west clusters are getting serious about biotech. We must catch up.”

“During the legislative discussions at MIBL, one of the main recommendations was to establish a healthcare authority in Mauritius—a regulatory body similar in function to the U.S. FDA.”

“The reasoning was simple: there’s a potential conflict of interest if the same ministry is responsible for both developing the health sector and approving drugs.”

“I genuinely want to see my country grow. I want to see Mauritians return home to create value. But time is moving quickly.”

Other headlines:

Dr Hans Seesaghur, International Affairs Specialist:

From Aid to Addiction: Why Mauritius must train its own and stop outsourcing its future

It’s time to stop applauding donation ceremonies and start demanding centres of excellence.

“It’s time to train thousands of Mauritians in maritime technologies, not just host foreign patrol boats.”

Africa’s Diverging Inflation Fortunes in 2025 Expose Deepening Policy Divide

CareEdge Global attributes the divergence to post-pandemic effects, structural weaknesses, and IMF-backed reform programmes.

Countries with stable currencies and credible monetary policy frameworks, such as Mauritius, are likely to maintain or ease policy settings to support growth.

Mauritius Sovereign Debt Market: Weekly issuance maintains stability amid steady yields.

BUDGET 2025/26: Kenya prioritises reform, fiscal prudence, and climate investment.

“The budget is structured around three strategic pillars, one of which is sustaining the Bottom-Up Economic Transformation Agenda (BETA).”

Conférences sur la gestion des risques côtiers: Développer la résilience du littoral mauricien face au changement climatique.

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, July 13, 2025

06/07/2025

- “Within 10 to 15 years, India will stand clearly among the top three economies globally, alongside the United States and China,” Sachin Gupta, Executive Director and Chief Rating Officer of CARE Ratings Limited:

- “When I look at what has worked in India, I believe the key factor has been regulation.”

�- “We have implemented clear, strong regulation — as in renewables and roads — we have managed to attract significant foreign direct investment, including from sovereign wealth funds, global equity players, and private equity funds.”

- “Emerging economies need agencies that understand them.”

Other headlines:

“Regulation alone is not enough if boards don’t build a security posture that challenges applications, devices, and people!,” Paul Williams, Country Manager for Fortinet.

“People want to know: can I delete all the information about me? Who do I call? How do I do it?,” Alban Lo Gatto, Senior Vice-President Corporate Affairs at Orange Middle East and Africa

“The bad day will happen. The question is: how ready are you to respond quickly?,” Jayant Dave, Chief Information Security Officer for Asia Pacific and Japan at CheckPoint.

“Data has a currency value, and you must protect it like you protect money,” Paul Williams, Country Manager for Fortinet.

“The challenge is that defenders cannot move as fast as attackers,” Abdool Kadell, Group CIO at Sunlife Ltd.

“There was a tendency to hide issues. We need to move beyond that,” Patrice Hervé, Head of Technology at MCB.

“People feel first, before they think and act,” Clive Smit, of Korn Ferry.

“To transform people out of a legacy organisation, you need to work with that emotion”

“Students today need technological fluency and the human capacity to adapt, collaborate, and lead,” Professor Mari Jansen Van Rensburg, Vice-Chancellor and Director of the Middlesex Mauritius campus.

Repositioning UNCT for Accelerating Economic and Climate Resilience for All in Mauritius and Seychelles.

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, July 6, 2025

02/07/2025

BIZweek, in collaboration with The Talent Factory and Regus, hosted a budget roundtable at Regus Ebène. Expert panelists Shahannah Abdoolakhan (Abler Group), Anthony Leung Shing (PwC Mauritius), and Yannick Applasamy (former President of AMM) joined moderator Rudy R.K. Veeramundar to discuss the National Budget 2025–2026—covering key topics like pension reform, fiscal pressures, investor confidence, and Mauritius’s growth outlook.
Special thanks to Marie-Noëlle Elissac-Foy Chart.PR MCIPR (Director, The Talent Factory), Steeven Pumbien (PR & Marketing Lead, The Talent Factory), and SECONDIS GERALDINE (Coordinator, The Talent Factory) for their invaluable support.
Missed it? Catch up here: https://bizweek.mu/the-pie-isnt-growing-were-just-slicing-it-differently/

29/06/2025

“Policymakers and the private sector join forces to create an effective ecosystem to attract further foreign investment to our country,” Parik Tulsidas, Head of Financial Markets, MCB.

- “We are too small as a country to do things in silos”
�
- “Over the last three years, 95% of mined gold was purchased by the central banks of Russia, China and India.”

- “Normally, in times of uncertainty, you see a complete shift towards the U.S Dollar. However, this time, with everything that has happened since the Trump administration took office, we are seeing a diversification of risk.”

CARE Ratings Africa and StraConsult Ltd Report:

- Strong exports, weak balance: Mauritius at a crossroads

- Foreign direct investment patterns reveal vulnerabilities.

- In 2023, half of all FDI inflows were directed toward the real estate sector, diverting capital away from more productive industries that could help build export capacity and economic resilience.

- Combined with a greying population and a persistent brain drain, these trends raise questions about Mauritius’ ability to finance the next wave of transformation.

- “Diversifying from traditional textiles toward more technologically advanced goods could reduce vulnerability”

Dr Huang Shifang, Ambassador of the People’s Republic of China to Mauritius:

- “We Hope to Support Mauritius as an Offshore RMB Financial Hub”

- “RMB opens up new channels for Chinese enterprises seeking opportunities in Africa, via Mauritius”

- “We welcome Mauritius’ participation in BRI to open new chapters for bilateral collaboration”

Henry V. Jardine, US Ambassador to Mauritius and Seychelles:

- “Maritime threats are multifaceted, complex, and often interconnected”

- “We must work together to keep the seas safe, free, and open”

US Marine General Calls for African-Led Security Partnerships at Maritime Summit

Mauritian Entrepreneur Jessyca Joyekurun Wins Acoya 2025 Award

L'ACCA annonce une refonte de sa qualification en 2027 en phase avec une profession comptable redéfinie

Festival du Vivant: “ Préserver la vie, c’est reconnaître sa complexité, son intelligence et sa valeur”

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, June 29, 2025

22/06/2025

“The pie isn’t growing, we’re just slicing it differently”, Anthony Leung Shing, Country Senior Partner and Tax Partner at PwC Mauritius:

A roundtable discussion was held last Tuesday as part of a joint initiative by BIZweek, The Talent Factory and Regus, to assess the key measures of Mauritius’s National Budget 2025–2026.

Anthony Leung Shing, Country Senior Partner and Tax Partner at PwC Mauritius:

“Public debt may reach Rs 680 billion by June 2026! How is that sustainable?”

“Fiscal consolidation is happening on the revenue side, while public spending still grows by 4–5% a year. Where is the sacrifice?”

“The most courageous measure was the pension reform.”

“Pensions currently cost the State MUR 68 billion and represent 30% of the government's expenditure budget.”

“I understand it is sparking quite a bit of debate across various financial agencies at the moment, but I believe it was something the country needed in the long term.”

Yannick Applasamy, Former President of the AMM:

“Real estate brought Rs 24 billion in FDI in 2024, yet it’s being hit without a transition plan.”

“We’re seeing fiscal austerity without a clear growth engine to match.”

“A public-private partnership cannot be sequential – where private stakeholders contribute to strategy, the public body executes, and the private sector is only re-engaged for post-mortems. That stop-start model doesn’t work.”

“I would say the government cannot be judged immediately, but it has taken some bold steps.”

Shahannah Abdoolakhan (شهناه ابدولاخان) (Founder & CEO, Abler Group):

“The FSC issues licences for virtual asset operators, but banks refuse to open accounts for such businesses.”

“Coordination is needed between regulators, banks, and the government.”

“We cannot have ministries working in silos.”

“Public-private partnerships are also critical.”

Ali Mansoor, Former Financial Secretary of the Government of Mauritius:

Rethinking Mauritius’ Pension System: Fairness, Sustainability and Citizen Voice.

- “If no changes are made, younger generations will face stark choices: higher taxes, lower benefits, or both.”

“It’s time to return to first principles and involve citizens directly in shaping the way forward.”

Neekhil Bhowoniah | Consultant at the World Bank Group for Mauritius and Seychelles:

Raising the Bar on Cybersecurity in Mauritius to Tackle AI-powered Incidents and Enhance Integrity in Financial Services.

The IMF calls for enhanced external competitiveness through structural reforms to raise productivity and private investment.

Yoga: A Shared Legacy, A Shared Future - By Shri Anurag Srivastava - High Commissioner of India to Mauritius.

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, June 22, 2025

15/06/2025

“Navigating the Second Half of 2025: Are we in for a Bumpy Ride?” - “The pivot away from the dollar isn’t symbolic. It’s structural. Central banks are buying gold in record volumes,” says Quinten Bertenshaw, Co-Founder and Executive Director of ETM Group:

“China is no longer Africa’s primary growth investor. The Gulf is stepping in—with capital and strategy.”

“If oil stays below $65, U.S. shale production becomes unsustainable. Saudi Arabia is playing the long game.”

“Liquidity is drying up. When the tide goes out, we find out which boats have weak keels.”

“Trump is the biggest macro risk we see right now. The world has swung from far left to ultra right.”

“The seeds for a viable alternative to the dollar are being sown—but don’t expect it within five years.”

“The relationship between the U.S. dollar and Treasury yields has broken down. U.S. exceptionalism is under pressure.”

Cover Story: Bringing the Genius of Warren Buffett to Mauritius

Oliver Müller, Chief Investment Officer of Accresco Investment Mgmt:

“Market fluctuations present both risks and opportunities. What matters most is the investor's temperament.”

“Too many investors panic when markets fall and sell at the wrong time.”

“We believe Mauritius can evolve into a credible platform for sustainable investing”

Professor Mervyn King | Patron, Good Governance Academy:

“Founder-led boards should not see independent voices as threats to control”

- “Compliance tells you what to do, but mindfulness helps you understand why you are doing it”

“Leadership is not just a position – it is a profound responsibility to society.”

Edito: From Treading Water to Riding the Wave: Turning Budget 2025/26 into Mauritius’s AI-Ready Growth Springboard

The first budget of the new administration reads more like an emergency life-jacket than the surfboard the country needs.

Mauritius Financial Sector Flags Risk of Investor Flight Amid Rising Tax Burden

Assad Abdullatiff , Managing Director, Axis Fiduciary Ltd: “In fiscal theory, beyond a certain point, raising tax rates does not necessarily generate more revenue. On the contrary, heavy taxation can start to reduce state revenues.”

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, June 15, 2025

08/06/2025

“We must break the mould or risk sovereign downgrade," Dr. Navinchandra Ramgoolam, Prime Minister and Minister of Finance:

“The journey ahead will demand sacrifice and shared responsibility”

The 2025/26 budget sets out plans to lower public debt to 75% of GDP, broaden the tax base and modernise pensions and public enterprises, while positioning Mauritius as a hub for financial services, renewable energy and digital innovation.

Mauritius’ fiscal adjustment programme compared to leading island state strategies

Analysts from Andersen in Mauritius, Intercontinental Trust Ltd Trust Limited, and Perigeum Capital Ltd assess the government’s capacity to deliver on what is widely seen as a necessary – though politically sensitive – programme of fiscal consolidation.

Fazeel Soyfoo observes that key reforms – IMF/World Bank Financial Sector Assessment Programme, licensing changes, and a focus on compliance – send the right signals, but Mauritius must still sharpen its strategic positioning.

Kesaven Moothoosamy notes that the sector suffers from limited new growth measures. The introduction of bullion banking services and streamlined licensing for wealth management and family offices is promising.

Shamin Ahmad Sookia highlights policies to promote higher value-added offerings and strengthen financial stability, but warns that efficiency and ease of doing business must be enhanced.

Mehul Pandya, Managing Director & Group CEO of CareEdge Group, describes Mauritius’s 2025/2026 Budget as “a blueprint for sustainable growth and fiscal responsibility,” highlighting its potential to stabilise the macroeconomic environment and foster private sector investment.

The analysis prepared by Saurav Chatterjee, Director & CEO of CareEdge Africa, and the CareEdge Africa analytics team, notes that the Budget signals a clear pivot from the consumption-led growth model to an investment-driven strategy.

“The emphasis on growth with fiscal prudence is expected to give confidence to the rating agencies and global investors,” Dr Suresh Nanda says.

Grant Thornton: “While a Steering Committee under the Prime Minister’s Office will oversee implementation, past experience shows that internal oversight structures alone are not enough. Too often, well-meaning initiatives have been derailed by weak coordination, lack of ex*****on capacity, and absence of independent accountability.”

“The Budget does not go far enough in addressing the structural reforms needed to realign workforce allocation with future economic priorities” - Anthony Leung Shing, Country Senior Partner, PwC Mauritius.

Business Mauritius salue les mesures responsables et progressives, mais reste attentive aux impacts sectoriels.

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, June 8, 2025

01/06/2025

“Geopolitical negotiations are not decided on Twitter or in television interviews,” Irada Zeynalova, Ambassador of Russia to Mauritius.

* “In Russia, we remember everything…”

* “Countries can be independent, they can trade on their own terms, without constant dependence on the dollar.”

* “Sanctions forced us to invest in ourselves – in tourism, food, manufacturing, pharmaceuticals… We no longer depend on Europe.”

* “Resolving the Ukraine conflict will require serious, patient, and well-prepared negotiations – not quick media statements.”

* “The Trump presidency could influence the process, but not in a simplistic or personal way.”

Ali Mansoor - Former Financial Secretary | Former Lead Economist at the World Bank | Former Deputy Director at the International Monetary Fund (IMF):

* How to Judge the budget: Father Xmas or investing in the future?

* The next budget should be judged not by giveaways, but by its power to deliver lasting progress.

* The most urgent challenge this budget must address is the looming disruption from artificial intelligence (AI). �
* Within five years, thousands of Mauritian jobs in key export service sectors could be lost to automation.

Dr Suresh Nanda, Managing Director, Symphony Capital Ltd:

* “Policy shift towards trade finance could anchor long-term growth for Mauritius”

* “While Mauritius has successfully established itself as an offshore banking center, diversifying into trade finance would reduce dependency on existing financial services and add resilience.”�

James LeMay, U.S. media consultant and former CNN editor:

* “Core principles of journalism must remain constant, irrespective of technological change”

* “It’s important for professional journalists to remember that our role is not merely to entertain, but to inform”

* “We must remain open-minded, even when reporting on subjects or individuals with whom we may personally disagree”

EDB deepens global economic ties through high-level diplomatic engagements

CEO Mahen Kundasamy highlights Mauritius’ business-friendly regulatory environment, robust financial services sector, skilled bilingual workforce, and network of trade agreements – factors positioning the country as an ideal partner.

“Choose France” FDI Playbook: A Must-Read, says Dr Hans Seesaghur

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, June 1, 2025

31/05/2025

Dear readers, just a quick heads-up — tomorrow’s Bizweek is one you’ll want to read. We’ve got some great stories, expert views, and interviews lined up. Make sure to check it out!

25/05/2025

“A welfare state can be sustained only as long as there is money to support it,”Dr. Dawood Oaris, President of the Association of Private Clinics and Medical Director, Chisty Shifa Clinic.

“In Mauritius, 80% of the budget goes to curative care. Prevention is underfunded, and the result is inefficiency and waste.”

“We’re heading toward a collapse in healthcare staffing.”

“The population generates 10 million visits to hospitals annually. That’s unsustainable!”

Helene Echevin, CEO of C-Care:

“PPPs can reduce costs, improve care, and attract regional patients.”

“Healthcare quality is often a question of volume – the more you do, the better the outcomes.”

“Mauritius must move toward a single-route registration system for specialists.”

“The demand for qualified healthcare professionals will only increase.”

“We must simplify the process of welcoming foreign patients and specialists.”

UK Recognises Mauritian Sovereignty Over Chagos Archipelago in Historic Agreement

“This is more than a bilateral agreement. It is a victory for international law, for postcolonial justice, and above all, for the Chagossian people,” said Dr. Navinchandra Ramgoolam Ramgoolam, Prime Minister of Mauritius.

“India has consistently supported Mauritius’s legitimate claim over the Chagos”

The United States Welcomes UK-Mauritius Agreement on Chagos Archipelago.

CareEdge Africa Report:

“A fiscally responsible budget could mark the beginning of a renewed growth trajectory”

“The FY 25-26 Budget presents an opportunity to articulate a clear vision that balances short-term electoral promises with long-term economic resilience”


Ali Mansoor, Former Financial Secretary of the Government of Mauritius:

"Mauritius: Making the Most of the Budget Margin."

"Mauritius needs to spend smarter – not necessarily more."

"The fiscal margin should be used to fund reforms that raise productivity and attract private investment."

“If We Want to Industrialise, We Need Access to Trade Finance,” Arnaud Levasseur, Executive Vice President for Global Trade Solutions, MCB.

“If we don't educate our young people, then it's not going to be a dividend,” Jessen Coolen, Economic Lead, MCB.

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Wednesday, May 25, 2025

21/05/2025

“The launch of RuPay cards and UPI integration has boosted cross-border financial connectivity, ” Somnath Adhya, Managing Director & CEO, SBI (Mauritius) Ltd

- “The Bank recorded a healthy growth in its net profit after tax, which reached USD 28 million – the highest profit ever recorded since its inception.”

- Expanding our cross-border business will be a key driver of growth.”

- “We are particularly focused on countries that have strong economic ties with both India and Mauritius.”

Shirin Gunny CEO de l’Association of Mauritian Manufacturers (AMM):

« Dans un monde instable, soumis aux tensions géopolitiques et aux ruptures logistiques, produire localement n’est plus une simple option stratégique. C’est
devenu une exigence vitale.”

Investir dans l’industrie manufacturière : Une urgence stratégique pour Maurice

Cyril QUINTYN, Co-Founder, Holberton School Mauritius:

“Success shouldn’t be measured only in degrees, but in skills, impact, and confidence”

“Holberton School will be a talent engine for the island, supporting key growth sectors like AI, cybersecurity, and software engineering.”

Charlotte Pierre Ends Tenure as British High Commissioner to Mauritius

Paul Brummell CMG to Assume Role as British High Commissioner to Mauritius in July.

Mauritius and India Reinforce Economic and Social Ties Through Women’s Entrepreneurship Conclave.

The Private Sector Urged to Take the Wheel on Road Safety.

“Traffic crashes shave off an estimated 3-5% of GDP in the worst-affected countries. The costs are not just human; they are economic and systemic,” says Jean Todt, the UN Secretary-General’s Special Envoy for Road Safety.

India-UK Free Trade Agreement to Boost Bilateral Trade, says CareEdge Africa.

Where Art Meets Biodiversity: The Festival of the Living 2025.

Heritage Mauritius Ladies Open Returns for Third Edition.

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Wednesday, May 21, 2025

18/05/2025

“No Algorithm Can Replace Trust and Empathy in Mental Health Care,” Dr Tiagarajen Sawmynaden, Psychiatrist in Austria.

- “If the process of registering as a specialist with the Medical Council had been more straightforward, I would already be working in Mauritius.”

- “Psychotherapy is widely accepted in Austria… In Mauritius, therapy is still less normalized, and seeking help is often delayed due to cultural barriers and misconceptions.”

- “While psychiatric care has traditionally focused on treatment, there is a growing recognition of the importance of prevention and early intervention.”

Neekhil Bhowoniah, Consultant at the World Bank Group for Mauritius and Seychelles:

- Digital Services / Currencies to the Rescue for Mauritius: Reinventing Trade Financing

- “The race for digital money is already underway in various economies, and Mauritius cannot afford to be left behind”

Auto Market Accelerates with Surge in EVs, Hybrid Vehicles and Leasing Activity, says report by CARE Ratings Africa and StraConsult Ltd.

As of March 2025, the number of registered cars reached a record 337,585, up from 173,954 in 2014

In March 2025 alone, 1,548 new vehicles were registered, of which 78% were cars. Suzuki led new registrations with 404 units, ahead of Kia, Toyota, Hyundai and Nissan.

Mauritius Faces Fiscal Crossroads Ahead of FY25-26 Budget

Mauritius Braces for Slower Growth as Trade Pressures and Climate Risks Persist

The ability to maintain macroeconomic stability amid uncertainty will be crucial as global volatility continues to test small island economies.

Operation Sindoor: India Redefines Its Security Posture

Dr Hans Seesaghur:

Russia–Africa Relations in 2025: A New Chapter Driven by Youth

“While medicine has long been the most common academic pathway for Mauritian students studying in Russia, the time has come to broaden that scope”

Tribune - Lettre ouverte de la nouvelle Ambassadrice de Chine au peuple mauricien - Par le Dr. Huang Shifang

Visit our website: https://bizweek.mu

Stay connected and follow BIZweek on LinkedIn and Facebook

Sunday, May 18, 2025

Leverage agile frameworks to provide a robust synopsis for high level overviews. Iterative approaches to corporate strategy foster collaborative thinking to further the overall value proposition. Organically grow the holistic world view of disruptive innovation