The Stellenbosch Business School Alumni Association Mauritius Chapter, in partnership with MCB, organized an evening of reflection and dialogue on August 13, bringing together development finance experts, entrepreneurs, banking sector leaders, and academics around a question essential to Mauritius’s future: how can financing, innovation, and inclusion be rethought to build a more resilient and fairer economy?
An event grounded in Mauritius’s economic realities
Mauritius stands at a turning point in its economic development. While small and medium-sized enterprises remain one of the essential pillars of the country’s productive fabric, they continue to face persistent structural obstacles: limited access to financing, banking mechanisms sometimes ill-suited to their business cycles, and ongoing inequalities in access to resources for entrepreneurs, particularly women. It was around these issues that Stellenbosch Business School — an internationally recognized South African academic institution — chose to bring together a panel of experts with complementary profiles (financiers, bankers, entrepreneurs, and academics) in Mauritius to open a constructive dialogue on the levers that need to be activated. The event, held at the Royal Green Wellness Resort, began with an information session for prospective students interested in the school’s postgraduate programs, before giving way to a high-level evening of debate.
The Key Issues at the Heart of the Discussions
The debate addressed several issues structurally significant to the Mauritian economy, without holding back. Speakers first examined how to adapt financing mechanisms to the concrete realities of local SMEs, noting that the problem is too often not a lack of capital or ideas, but a genuine mismatch between conventional financing offerings and the real cycles of businesses. The question of women’s entrepreneurship also took center stage in the discussions, with panelists agreeing that the inclusion of women in the Mauritian entrepreneurial ecosystem remains hindered by unequal access to resources and decision-making networks. The role of banking innovation in transforming SMEs was also widely debated, at a time when fintech has revolutionized payment practices without bringing about the same revolution in business credit and investment. Finally, the discussions highlighted the need to build genuine, effective collaboration between institutions, banks, and entrepreneurs — the evening’s most striking message being that no lasting economic transformation can happen in silos.
Mauritius: Resilience in a Changing World
Professor Elizabeth Nanziri, Associate Professor of Development Finance at Stellenbosch Business School, a research associate at the South African Reserve Bank, and former Director of the African Centre for Development Finance, shared her expertise, emphasizing that Mauritius today embodies a model of resilience in a constantly changing world. “Mauritius has built itself an identity as an international financial hub, a positioning based on solid foundations: macroeconomic stability, a robust regulatory framework, and ongoing adaptability. It’s this resilience that allows the island to attract investment and serve as a platform for Africa and the Indian Ocean region,” said Professor Nanziri, adding that this momentum must extend to local SMEs so that economic transformation benefits the entire ecosystem.
The Beauty of the Banking Sector: Structure and Innovation
Mr. Harry Coolen, SME Banking Manager at MCB Ltd, a banker with over 27 years of experience and a recognized specialist in SME financing, stressed the crucial importance of a solid financial architecture for entrepreneurs. “The beauty of the banking sector lies in its rules and guidelines. It’s essential for an SME to have the right financial structure to sustain its business over time. I would never recommend that an entrepreneur build their model on debt alone. On the other hand, the innovations we are putting in place — and will continue to create — are specifically designed to cultivate an export mindset among our clients. Africa represents a huge market for Mauritius, and our SMEs need to seize this opportunity,” said Mr. Coolen, highlighting the catalytic role of development finance institutions in regional entrepreneurial expansion.
A Unifying Momentum for the Mauritian Ecosystem
The event also benefited from the active participation of Mrs. Rima Ramsaran, entrepreneur and advocate for social inclusion, former President of the Mauritius Business Women’s Association, and current Vice-President of Kinouete, who offered a critical and inspiring perspective on the realities faced by women entrepreneurs in Mauritius on the ground. Mr. Sanjeev Hazareesing, Chief Operating Officer of MCB Group and a recognized expert in transaction banking and international trade finance, enriched the discussions with his views on banking innovation and the strategic role of Mauritian financial institutions in helping businesses expand internationally.
Mr. Satyam Ramnauth, a finance professional with over 30 years of experience gained at IFC, BII, and through launching the MCB Equity Fund, contributed to the discussions by presenting the concept of “adaptive finance” as a response to the current mismatches between business needs and traditional banking offerings.
These diverse and complementary voices wove together a rich dialogue, revealing that lasting economic transformation requires a convergence of efforts: smart regulation, financial innovation, entrepreneurial will, and institutional commitment — a conclusion that resonates directly with the daily challenges faced by Mauritian business leaders and the priorities of public and private decision-makers engaged in the country’s economic diversification.
A Momentum to Deepen the Reflection
This event is part of a broader initiative by the Stellenbosch Business School Alumni Association Mauritius Chapter, which aims to multiply opportunities for dialogue between Mauritian economic actors, international experts, and the academic world, in order to foster ongoing reflection on the transformations needed for the country’s economy.
