Foreign direct investment in Mauritius grew 69% year-on-year in the first half of 2016, to 7.96bn rupees ($222m), driven by real estate, financial services and manufacturing, the board of investment said on Thursday.
The agency said investment in real estate totalled 5.03bn rupees, while financial and insurance activities received 2.01bn rupees.
“The largest inflows have come from developing economies, mainly from South Africa and China, contrary to previous years where a considerable proportion of FDI flowed in from developed economies,” the board said on its website.
The board said several major projects, such as smart cities and the African Leadership University, will attract more foreign investment but the statement offered no further details.
Famed for its white sand beaches and luxury spas, the Indian Ocean island nation is diversifying its economy away from sugar, textiles and tourism into offshore banking, business outsourcing, luxury real estate and medical tourism.
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Africa Safaris and travel 2016 – Botswana, Zimbabwe & Zambia
Experience the Cape Winelands
Foreign investment in Mauritius jumps by 69% in first half of 2016
Foreign direct investment in Mauritius grew 69% year-on-year in the first half of 2016, to 7.96bn rupees ($222m), driven by real estate, financial services and manufacturing, the board of investment said on Thursday.
The agency said investment in real estate totalled 5.03bn rupees, while financial and insurance activities received 2.01bn rupees.
“The largest inflows have come from developing economies, mainly from South Africa and China, contrary to previous years where a considerable proportion of FDI flowed in from developed economies,” the board said on its website.
The board said several major projects, such as smart cities and the African Leadership University, will attract more foreign investment but the statement offered no further details.
Famed for its white sand beaches and luxury spas, the Indian Ocean island nation is diversifying its economy away from sugar, textiles and tourism into offshore banking, business outsourcing, luxury real estate and medical tourism.
Source
For Africa’s millennial generation, the rules of engagement have changed
Millennials make up more than a third of Africa’s population. The impact they are having on politics and business across the continent is just beginning to be felt.
There is an incident that happened in my childhood that I would like to draw your attention to. It occurred such a long time ago that its details are now a contested truth. But even with this, the essence of the story remains lucid. One morning in the early 2000s, a huge smoke enveloped the village of Zikhovane, where I was born, and it remained like this right into midday. When it finally cleared, it revealed a clear blue sky and much of the vegetation had been burnt. The confusion quickly turned into shock.
A young boy who had been seen looking after his father’s goat in the veld where the fire broke out was caught and taken to the chief. The boy was not the arsonist, and he was in his fragile voice relentless in pleading his innocence. But no boy argues against the chief’s retinues, consisting mostly of old people convinced that only children are capable of mischief. It had to be him or another youth, or the fire was a result of another force. It later emerged that the boy did not set the plantation on fire but that an ageing woman, smoking her pipe, did not hold tight to a match and the wind blew it away.
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