The Africa Report - - CONTENTS -

Off­shore on the radar With plans to dou­ble the size of the fi­nan­cial sec­tor within the next 12 years, the gov­ern­ment must re­spond to in­ter­na­tional pres­sure for fair­ness and trans­parency

Pris­tine beaches and murky ac­count­ing have long been ass o c i a t e d wi t h t h e In­dian Ocean na­tion of Mauritius, and so it was that the trans­par­ent wa­ters of Bala­clava Bay pro­vided a gen­tle re­minder of what was at stake as rep­re­sen­ta­tives of the gov­ern­ment launched a new blue­print for the off­shore fi­nan­cial cen­tre at a ma­jor con­fer­ence on 19-20 Septem­ber. Im­prov­ing the image of the fi­nan­cial ser vices sec­tor and driv­ing its ex­pan­sion are high on the gov­ern­ment’s agenda for growth. An­nounc­ing plans to dou­ble the sec­tor’s size by 2030, Prime Min­is­ter Pravind Jug­nauth said: “The sec­tor con­tin­ues to face its share of chal­lenges both lo­cally and in­ter­na­tion­ally. As an in­no­va­tive and for­ward-look­ing na­tion we have to demon­strate our ca­pa­bil­i­ties in turn­ing these chal­lenges into op­por­tu­ni­ties, while en­sur­ing eco­nomic re­silience.” The fi­nan­cial sec­tor is at a cross­roads: changes to a treaty with In­dia mean that it has to look to new mar­kets in Africa; African

The gov­ern­ment wants to dou­ble the size of the fi­nan­cial sec­tor within the next 12 years, but to do that it needs to find new growth strate­gies and re­spond to in­ter­na­tional pres­sure on ju­ris­dic­tions that help com­pa­nies avoid pay­ing cor­po­ra­tion tax

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