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Mauritius: a Growing Tech Hub

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Mauritius: a Growing Tech Hub Communiqué Mauritius is emerging as a competitive ICT destination, with a long list of major ICT players established on the island. The reason could be the attractive fiscal and non-fiscal benefits that it offers. MAURITIUS: A GROWING TECH HUB s per the Frost & Sullivan report The Mauritius is a jurisdiction The Mauritius advantage Telecommunications Market in Southern The jurisdiction of Mauritius has attracted Africa – Key Fixed and Mobile Market of substance and has international ICT companies that have set A Indicators, Mauritius has revamped its up their holding companies in Mauritius for ICT industry and is at the forefront as the the right infrastructure, operation in other African countries. Why African nation with the most noteworthy from offices to efficient would they do so? ICT advancement record, competing with The reason could be two-fold: fiscal and South Africa and Botswana. banking facilities. non-fiscal benefits. Mauritius has emerged as an In terms of fiscal benefits, Mauritius has international and competitive ICT signed Double Taxation Agreements (DTAs) destination and is steadily positioning itself business in the country are undoubtedly with some 50 countries globally, including as a regional ICT hub. Over recent years, boosting competitiveness in the Information some 15 African countries. ICT companies the ICT sector has experienced a rapid and Technology sector,’’ says Yogesh Gokool, can benefit from these DTAs if they are sustained growth and is a major pillar of Senior Executive and Head of Global tax resident in Mauritius, thus minimising the Mauritian economy. The ICT sector Business at AfrAsia Bank. the risk of double taxation in the countries represented only 4% of the country’s GDP where they are operating and in their in 2002 and has grown to 5.6% in 2016. Good country index countries of residence. An increasing number of foreign In addition, the report says that Mauritius In the light of new Base Erosion Profits companies are nowadays setting up their continues to hold “the most astounding Shifting (BEPS) requirements, the emphasis bases in Mauritius to conduct ICT and ICT development index (IDI)”. It says that nowadays is more on substance. “Mauritius ICT-related activities. Some 600 ICT the island was ranked first last year out of is a jurisdiction of substance and has the companies presently operate in Mauritius, nations in southern Africa and has “the right infrastructure, from availability of in a wide range of activities including highest networked readiness index (NRI) physical offices, talent, and bilingual pool software development, call centre rank in the Southern African region’’. The of qualified and experienced professionals, operations, business process outsourcing IDI is an index published by the United to efficient banking facilities for business (BPO), IT-enabled services, web-enabled Nations International Telecommunication activities carried out from here,’’ adds services, training, hardware assembly Union based on internationally agreed ICT Yogesh. and sales, networking, consultancy, indicators, making it a valuable tool for One of the non-fiscal benefits is the multimedia development, disaster benchmarking the most important availability of raising bank finance in recovery and other support services. indicators for measuring the Mauritius. There are about 23 banks on Major international ICT players, information society. The IDI is a the island and many involved in global including Oracle, Microsoft, IBM, standard tool that governments, business activities are flushed with foreign HP, CISCO, Orange Business operators, development agencies, currency liquidity, mainly dollars and Services, Accenture, Infosys, researchers and others can use to euros. Borrowing in Mauritius, with Hinduja Group, France measure the digital divide and proper security and guarantees, is a lot less Telecom, Ceridian and compare ICT performance expensive than in many other countries, the TNT Group, have set within and across countries. including African countries, because the up their operation and Furthermore, the cost of funds is lower here. development centres in country’s ICT strength is in A second non-fiscal benefit is that the Mauritius. line with the government’s Stock Exchange of Mauritius (SEM) is ‘’The island is home Smart Mauritius Strategy. affiliated with some international stock to several mobile operators The World Economic exchanges and also a member of the WFE in addition to the fixed Forum in 2015 identified (World Federation of Exchanges). The phone operator, Mauritius Mauritius as the third best SEM is the only exchange in Africa where Telecom. The setting up country when it comes multi-currency listing is allowed. Listing Yogesh Gokool, Senior of a new techno park, a to telecom and internet here could be an alternate means of raising Executive and Head of Global Business at AfrAsia third submarine fibre optic connectivity costs in its finance and provide an exit opportunity to Bank, points out the many cable as well as enhanced Global Information private equity funds that have invested in advantages of Mauritius integration of ICT and Technology Report. ICT companies. n as an ICT destination..
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