Mauritius: Government Reaffirms Commitment to Strengthening Mauritius As a Key Financial Hub

Trident Trust, a leading independent provider of corporate, trust and fund administration services to the financial services sector worldwide, marked its 25th anniversary in Mauritius with a ceremony held, yesterday evening, at Le Suffren Hotel & Marina - Garden in Port Louis.

The event was attended by several distinguished guests, comprising the Minister of Financial Services and Economic Planning, Dr Jyoti Jeetun; the Junior Minister of Finance, Mr Dhaneshwar Damry; the Governor of the Bank of Mauritius, Dr Rama Krishna Sithanen; and Member of the National Assembly, Mr Mohamed Ehsan Juman.

The event marks Trident Trust's contribution to the financial services sector, especially its role in Africa-focused fund administration.

In her address Minister Jeetun acknowledged the contribution of the financial services sector in supporting regional investment while highlighting that Mauritius has positioned itself as a key jurisdiction for Africa-focused fund administration. Over 40 such funds are currently administered locally, with operations extending to 45 out of the 55 African countries, she said.

The Minister also pointed out that Mauritius is viewed as a reliable and well-respected financial centre, with $6 billion worth of assets managed from its local office. However, she evoked the need for teamwork between Government and private companies to keep the sector grow stronger. Dr Jeetun also underlined the importance of staying transparent, following rules, and building trust and cited the country's involvement with the African Private Equity & Venture Capital Association.

For his part, Junior Minister Damry dwelt on the country's economic situation and stressed the need to reduce public debt, which currently stands at Rs 644 billion representing 90% of GDP. He highlighted the importance of the financial sector, which makes up 14% of the economy and provides jobs to about 12,000 people and its role in bringing in foreign currency and keeping the rupee stable.

Mr Damry also advocated for stronger ties with Africa and more banking activity across the continent, as well as to position Mauritius as a future hub for family offices and Fintech growth in Africa.

Read the original article on Government of Mauritius.