Mr Hemraj Ramnial CSK, Chairman of the Economic Development Board of Mauritius. Image: Supplied.
The Mauritius business industry has hailed as a success the roadshows they held in South Africa recently to boost trade relations and strengthen investment ties between the two countries, following the reopening of borders post the Covid-19 pandemic.
The Mauritius Economic Development Board (EDB) this month led roadshows in Johannesburg, Cape Town, Port Elizabeth, and Durban with a strong delegation of the Mauritian private sector.
The Mauritian delegation was made from the financial, manufacturing and the real estate sectors, aiming to showcase cross border investing opportunities and expanding the economic realms of the two countries.
Speaking to Business Report, EDB chairman Hemraj Ramnial CSK said South Africa was the most important and number one export market for Mauritius.
“South Africa is the second largest source of foreign direct investment (FDI) in Mauritius after France, representing about 15% of total FDI in Mauritius and 88% of FDI to Mauritius originating from Africa,” Ramnial said.
“Mauritius is also a springboard for international companies looking to expand their footprint in Africa, and is increasingly becoming a second home for South Africans.”
Ramnial said the roadshows were meant to further strengthen the diplomatic and economic exchanges between the two nations, and bore testimony to the width and depth of the countries’ relations.
“Several areas of collaboration have been identified among key players of the manufacturing industry for trading and business expansions,” he said.
“A number of interests have been obtained for structuring investments through the financial services sector for investments in different fields of activities in Mauritius. The advantages of Mauritius as an ideal, safe and global destination for work, live and play are being portrayed.”
Ramnial also said the Mauritian government was committed to develop Mauritius as the largest and competitive logistics centre in the Indian Ocean to provide freeport operators with fully integrated supply chain solutions in accordance with international standards, and to be the ideal logistics and value-addition platform for Africa, Europe and Asia.
In 2022, exports from Mauritius to South Africa reached some 11 billion Mauritian rupees (R4.6 billion), representing 13% of the total exports from the island.
The main products exported to South Africa comprised textile which represents over 80% of exports, aluminium and aluminium products and carboys, bottles, and flasks, among others.
The volume of exports from Mauritius to South Africa accounts for 42% of the total exports to the African continent.
Earlier this month, International Relations Minister Dr Naledi Pandor conducted an official mission to Mauritius to sign the ‘’General Co-operation Agreement’’ with the government of Mauritius.
The adoption of this key treaty is meant to pave the way to stronger economic exchanges and co-operation between Mauritius and South Africa.
A number of South African companies have invested in Mauritius, particularly in transportation; financial services; real estate; and consumer products.
South Africa exported just over R10bn in goods and merchandise to Mauritius in 2022 compared to nearly R5.2bn in 2021.
The main South African products exported to Mauritius in 2022 were mineral products especially coal and fuel oils, followed by wood products, prepared foodstuff, machinery, live cattle, and iron and steel products.
Pandor reiterated that South Africa and Mauritius, as two progressive democracies in Africa had to participate actively in regional, continental and global efforts aimed at attaining Africa’s developmental needs in line with the African Union’s Agenda 2063 and the United Nation’s Sustainable Development Goals.
BUSINESS REPORT
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