Mauritius: Deputy Prime Minister Meets Newly Appointed CEO of Financial Services Commission

23 July 2025
Government of Mauritius (Port Louis)

The Deputy Prime Minister, Mr Paul Raymond Bérenger, received the newly appointed Chief Executive Officer (CEO) of the Financial Services Commission (FSC), Dr Désiré Vencatachellum, during a courtesy call yesterday in Port-Louis. The Minister of Financial Services and Economic Planning, Dr Jyoti Jeetun, was also present.

Following the meeting Dr Jeetun indicated that the Ministry has come up with a Strategy Report for the Financial Services Sector (2025-2030), a comprehensive document outlining the sector's challenges, priorities and strategic directions. This report, she pointed out, rests on five key pillars namely: Enhancing the ease of doing business; Diversifying and modernising financial products; Enhancing the brand identity of the Mauritius IFC and strengthening international market presence through a coherent promotional strategy; Diversifying our target markets with a comprehensive Africa Strategy; and Addressing Human Capital Gaps by aligning training, improving incentives, and engaging diaspora talent.

The Minister recalled the pivotal role of the FSC in driving the successful implementation of the strategy. She expressed confidence that Dr Vencatachellum will take the FSC to new heights, noting his track record and credentials. She particularly welcomed his long-standing experience and network in Africa.

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For his part Dr Vencatachellum expressed gratitude for the confidence placed in him to spearhead the FSC which is a key institution to shaping stability, integrity, and growth of the financial sector. He pointed out that Mauritius has tremendous potential and is home to a wealth of talents. "Harnessing this strength will be key to advancing our financial ecosystem," he said.

Highlighting the nation's ambitions, Dr Vencatachellum underscored the key role of Mauritius as a dynamic gateway between Africa and Asia. He also spoke of the need to building long-term value and ensuring that the FSC remains fit for purpose both today and in the future. "We must shape the FSC that is not only relevant for today's challenges but also resilient and forward-looking for 2030 and 2050", he added.

Dr Vencatachellum is a seasoned Development Finance Executive with more than 30 years of experience in strategic leadership on development economics and finance issues, particularly in Africa. He has worked at the African Development Bank Group for more than 20 years. Prior to joining the African Development Bank Group, he was a Full Professor of Economics at HEC Montréal, Université de Montréal. He holds a Ph.D. in Economics from Queen's University, Canada, and a Magistère Ingénieur Économiste from Université d'Aix-Marseille II, France.

Read the original article on Government of Mauritius.

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