Business updates

The Mauritius Chamber of Commerce and Industry (MCCI) held its Midi Conference on Monday 12 May 2025 at the Caudan Arts Centre, in collaboration with Absa Bank (Mauritius) Ltd.

Focused on the theme "Africa Diversification: Positioning Mauritius as a Gateway for Trade, Investment and Cross-Border Collaboration", the conference provided a platform for business leaders and stakeholders to engage on deepening trade and investment ties with Africa.

The programme featured an opening ceremony, followed by a panel discussion and networking session exploring strategic approaches to African market integration.

Key speakers included Mr. Rajeev Hasnah, First Deputy Governor of the Bank of Mauritius; Dr. Drishtysingh Ramdenee, Secretary General of the MCCI; and Mr. Ravin Dajee, Managing Director of Absa Bank (Mauritius) Ltd.

In his address, Mr. Rajeev Hasnah outlined ongoing efforts to modernise payment systems and strengthen financial structures to support trade with African markets. He emphasised the Bank of Mauritius' role in providing enabling infrastructure while calling on the private sector to drive transaction volumes.

Dr. Ramdenee presented demographic data and economic projections, highlighting Africa's potential: "Africa is home to over 1.4 billion people, with a median age of just 19.5 years. This makes it the youngest and fastest-growing population in the world. The African Continental Free Trade Area, now the largest free trade area in the world by number of countries, is set to reshape intra-African trade. By eliminating tariffs and reducing non-tariff barriers, the AfCFTA aims to increase trade by over 50% within the next few years, creating a single market of over $3 trillion in GDP."

Mr. Ravin Dajee stated: "Mauritius is uniquely positioned to serve as a strategic gateway to the African continent. Our stable political and macroeconomic environment, along with our geographic and legal advantages, reinforces our ability to drive trade and sustainable development. At Absa, we are committed to enabling long-term growth and value creation by championing partnerships that unlock the African continent's potential."

The panel discussion featured Michelle Knowles, Managing Executive: Trade and Working Capital - Transactional Banking at Absa Group, who provided valuable insights into regional trade and capital flows.

Other panelists included:

• Mr. Vishal Nunkoo, Chief Executive Officer of Velogic
• Mr. Saurav Chaterjee, Chief Executive Officer of Care Ratings Africa
• Mrs. Jenny Pidial, Chief Executive Officer of Fit-U Garments

The conference concluded with strategic recommendations to reinforce Mauritius' role as a gateway to Africa through institutional partnerships, currency adaptability, and enhanced regional banking collaboration.

Caption: From Left to Right, Dr. Drishtysingh Ramdenee, Secretary General of the MCCI, Mr. Vishal Nunkoo, CEO of Velogic, Ms. Michelle Knowles, Managing Executive: Trade and Working Capital - Transactional Banking at Absa Group, Mr. Saurav Chaterjee, CEO of Care Ratings Africa and Mrs. Jenny Pidial. CEO of Fit-U Garments.