The Africa Partnership Conference (APC) is the ‘first of its kind’ conference on Africa where the voice is roaring bigger and louder at the table, sharing common goals and investment in common security ushering into the building blocks for partnership, progress, and shared prosperity.
This was mentioned on Day 2 of the conference by the Minister of Financial Services and Good Governance, the Hon. Mahen Kumar Seeruttun in a special address. He further added: “This conference augurs well for the unflinching commitment of the MIFC for Africa laden with the Government’s purposeful drive to help advance Mauritius trickling into Africa’s agenda.”
He emphasised: “As Minister for Financial Services, I will help ensure the spearheading of sustainable investment channelled through our jurisdiction into Africa where one cannot talk about sustainability and inclusiveness without highlighting our intention to come up with a dedicated ESG framework for Africa.”
Commenting further, the Minister said: “The commitment to more responsible investment is set with my Ministry’s objective in going forward with a view to creating a more sustainable environment by incorporating ESG in our policy decisions for investment to take place. Through the assistance of the African Development Bank, we devised an ESG framework to achieve our vision of continual improvement in ESG performance. We are working to give comfort to investors and funds channelled through Mauritius into Africa, coming with sustainability credentials.”
“This conference today will cement our bond with a pursuit of a unified continent and foster an inclusive investment climate. Let’s work together towards a common objective of creating a sustainable and inclusive environment to attract investment for Africa’s growth,” Minister Seeruttun added.
As Mauritius continues to play a decisive role in unlocking Africa’s multi-billion dollar investment opportunities, the MIFC is key to driving multi-foreign quality investment on the continent where Africa is the second largest investment destination for Mauritius totalling USD 82 billion with 9 percent overall investment into the continent, the Minister reiterated.
He also hinted at relentless work that was implemented to help exit the FATF list in a record span of time while at the same time having in place a robust jurisdiction and a modern AML/CFT framework in adhering to the highest standards. Minister Seruttun pledged support to many African countries, saying Mauritius is willing to share its experience to help the former implement its FATF recommendations.
Vice Chairman of the Economic Development Board (EDB) Issa Mohamad Soormally mentioned that the topic aims to discuss how to enhance intra-regional trade in seeking to address international investors risks pertaining to African infrastructure investment while tackling the trade finance gap in Africa. He said: “Investment and financing play a vital role in driving entrepreneurship, innovation, infrastructure development as the lifeblood of fuelling economic growth, job creation and uplift community as part of the aim to underpin economic growth and development of the continent.
The Secretary General of UNCTAD Rebeca Greenspan underlined: “The UNCTAD Economic Development in Africa report has mentioned that Africa is in a multi-decade opportunity boom emphasising that three massive factors are going at present for Africa. Firstly, the growing intra-African trade owing to the African Continental Free Trade Area seeking to boost high-added manufacturing and services into the continent; Secondly, demographics where the continent has the biggest youth population in the world. Youth means entrepreneurship means innovation, means growing consumer minds; Lastly, Africa is extremely rich in power and mineral energy a massive opportunity for investment and structured transformation, and growth for the continent.”
Speaking online, the Assistant Secretary General of the Commonwealth Dr. Luis G. Franceschi emphasised that 21 of its members are on African soil, thus demonstrating an increased economic momentum where it is fast developing its commercial future, emerging pan-African economic initiatives such as the Africa Free Trade area to help develop markets that rival the largest in the world.
He underlined, “The commonwealth secretariat proudly supports such initiatives that advance growth on the continent and hopeful they will be game for all, encompassing Africa.”
In the endnote, Chief Executive Officer at the Economic Development Board, Ken Poonoosamy said: “I would like to thank all the different speakers, panelists, and also the investment promotion agencies that have come from different parts of the world, from Africa, from the US, from India, from China from everywhere. I also want to thank Tania, for being a great moderator and MC. I’d like to thank the Chairman of the Economic Development Board, Vice Chairman of the EDB, all the board members, and, of course, all my staff that I’m very proud of.”
