The Ministry of Financial Services and Economic Planning today presented the Strategy Report 2025-2030: Rethinking the Future of the Financial Services Industry, an ambitious and action-oriented plan aimed at enhancing Mauritius’s position as an innovative, reliable international financial centre and a key driver of economic transformation. Developed after an extensive consultative process involving industry stakeholders, regulators, academia, and international partners, this report defines clear priorities and concrete measures to address new challenges and seize opportunities in a rapidly changing global financial environment.
As the first pillar of the Mauritian economy, the financial services sector contributes approximately 14% of GDP, supports over 36,000 jobs (direct, indirect, and induced), and accounts for 68% of total corporate tax revenues. When multiplier effects are integrated, its real contribution to the economy reaches nearly 25% of GDP, highlighting its fundamental role in wealth creation and opportunities.
Dr. the Honourable Jyoti Jeetun, Minister of Financial Services and Economic Planning, stated: “The financial services sector in Mauritius holds immense potential, with large economies at our doorstep, notably India and Africa. Compared to traditional sectors, it is decidedly outward-looking, and our objective is to seize these formidable opportunities. The government is determined to achieve the ambitious objectives set for this sector, addressing its challenges to strengthen its attractiveness and competitiveness.”
Findings and Solutions from a Consultative Approach
Over the past few months, the Ministry conducted roundtables, interviews and a survey with stakeholders from the banking, insurance, global business and consulting services sectors. These exchanges helped to refine recommendations and consolidate priorities, ensuring that the strategy accurately reflects the challenges, expectations, and aspirations of the sector.
It is thus based on an in-depth analysis and structured dialogue that highlighted:
- Increased competition from other jurisdictions such as Dubai and Singapore and the need to strengthen Mauritius’s proposition.
- The urgency of accelerating digital transformation, particularly the adoption of fintech and the development of innovative financial products.
- Opportunities offered by sustainable finance, capital market development, and the emergence of new regional markets.
- The importance of talent development.
- The need to improve the ease of doing business.
In response, the Strategy Report outlines concrete measures structured around five strategic priorities:
- Improve the ease of doing business, notably through the simplification of regulatory processes, the deployment of e-KYC, and the setting of shorter processing times, while strengthening infrastructure and institutional capacity for an agile and digitalised financial centre.
- Diversify and modernise the financial product offering, by supporting the development of fintech, sustainable finance, wealth management, family offices, and capital markets.
- Strengthen the visibility and promotion of the Mauritius IFC through a coherent communication strategy, a strong brand identity, and an increased presence in international markets.
- Diversify target markets, notably through the development of an ambitious Africa Strategy and the consolidation of traditional markets.
- Address skills shortages and develop talent through the implementation of adapted training programmes, better incentives, a framework for welcoming foreign experts, and a policy for mobilising the diaspora.
Next Steps
- To guide the implementation of this strategy, several dedicated committees (Working Groups) will be established under the aegis of the Financial Services Consultative Council. These committees will focus on business facilitation, target markets, products and services, promotion and visibility, as well as skills and capacity development. Each committee will be responsible for developing clear, measurable, and time-bound action plans to quickly translate the roadmap into concrete reforms and tangible results.
