MCCI and Absa Bet on Africa: Growth with 2 Power Moves

Mauritius aims to strengthen its role as a regional hub for trade, investment, and services targeting Africa. This was the main goal of the Mid-Day Conference organized by the Mauritius Chamber of Commerce and Industry (MCCI) in partnership with Absa Bank (Mauritius) Ltd. The event took place on Tuesday, May 13, at the Caudan Arts Centre.

Under the theme “Africa Diversification: Positioning Mauritius as a Gateway for Trade, Investment, and Cross-border Collaboration,” the conference gathered key players from the local and regional economy.

The message was clear: Africa is no longer just an option—it’s a strategic priority for Mauritius.

MCCI Secretary General Drishtysingh Ramdenee opened the event by highlighting Africa’s demographic strengths.

“Africa has over 1.4 billion people, with a median age of just 19.5 years. It’s the world’s youngest and fastest-growing population,” he said.

He added that this youthful demographic is a powerful long-term economic driver.

Ramdenee also emphasized the potential of the African Continental Free Trade Area (AfCFTA).

He explained that the initiative could boost intra-African trade by more than 50% in the coming years.

“With a single market worth over $3 trillion in GDP, AfCFTA offers a unique opportunity for Mauritian companies to expand internationally,” he noted.

Rajeev Hasnah, First Deputy Governor of the Bank of Mauritius, focused on modernizing financial infrastructure to support Africa’s growth.

“As a regulator and facilitator, the Bank of Mauritius is actively working to upgrade payment systems and financial structures to support regional trade flows,” he said.

Ravin Dajee, Managing Director of Absa Bank (Mauritius), highlighted Mauritius’ strategic location, political stability, and strong legal framework.

“At Absa, we believe in creating long-term value through solid partnerships. Mauritius can play a key role in African integration by becoming a regional hub for banking, logistics, and trade services,” he stated.

The second part of the event featured a roundtable moderated by the MCCI. Participants included Michelle Knowles (Absa Group), Vishal Nunkoo (Velogic), Saurav Chaterjee (Care Ratings Africa), and Jenny Pidial (Fit-U Garments).

They shared on-the-ground experiences, discussing logistics challenges, risk management, trade financing, and regulatory adjustments.

“Mauritius is a bridge between Africa and the rest of the world. Stronger collaboration among financial institutions can help local businesses optimize their African strategies,” said Knowles.

The MCCI’s efforts support local companies’ expansion into Africa through initiatives like the Xport Accelerator program and active involvement in regional organizations such as the COMESA Business Council, SADC Business Council, and Africa Business Council.

The conference outlined a new economic narrative where Mauritius moves beyond a peripheral role. Instead, it aims to become a key player in intercontinental cooperation and regional integration with Africa.

Source: l’Express