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Mauritius aspires to be a high income economy in the next decade and CFA Society Mauritius aims to play a critical role in building the necessary skill and capacity to make this happen.
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There is more to Mauritius than meets the eye. The idyllic sun, sea and sand image that it conjures, belies the grit of a nation that aspires to be a high income economy in the decade to come. Unlike the rest of Africa, Mauritius has no mineral resources; but makes up for it with the resourcefulness of its people.
It is a thriving democracy with a regular, peaceful, free and fair electoral process since its independence in 1968. It has, thus, successfully thwarted the totalitarian “après moi le déluge” (after me, the deluge) drift that often assails African political leadership. It has emerged as a viable destination for investors seeking a secure investment climate and conducive business environment, with transparent regulations.
Mauritius is a key member of regional economic blocs such as the African Union, COMESA, SADC and the Indian Ocean Rim, thus benefitting from no trade barriers. It, therefore, offers preferential access to a regional market of over 500 million consumers and strategically positions itself as the ideal platform for investors wishing to broach the African and Indian Ocean markets. It also has a diversified economic base with a broad spectrum of sectors such as tourism, agro-industry, aqua-culture, manufacturing, upcoming ocean economy, emerging innovation-knowledge hub, ICT-BPO and financial services.
"CFA Society Mauritius, since the 15 years of its existence, has endeavored to serve this sector by promoting the importance of professional qualification, conduct and ethics..."
The financial services sector, encompassing global business and cross-border transactions, is a key economic pillar with a 10% contribution to GDP. To this end, Mauritius is a signatory to the BEPS project since 2017 and is an OECD whitelisted International Financial Center (IFC) of repute with no foreign investment or exchange restrictions, a friendly tax structure with no capital gains or wealth tax and assures investment security through a wide network of IPPAs and DTAAs.
CFA Society Mauritius, since the 15 years of its existence, has endeavored to serve this sector by promoting the importance of professional qualification, conduct and ethics through outreach initiatives targeting regulators, employers, university graduates and the media. It is nearly 100 members strong, with 300 candidate registrations.
The IFC is seen and fostered, by Mauritius, as a key sector in up-scaling to a high income economy. Dearth of professionals, as highlighted in the EIU African Outlook Report 2019, could be a serious impediment to this national aspiration. There is, therefore, a pressing need for skilling and building capacity in this sector; which, is also the leitmotiv for the local CFA Society and its “raison d’etre” in the national scheme of things. In Robert Frost’s words “We have promises to keep, and miles to go before we sleep….”
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